CTA invited to join the new APPG on CBD
We have been invited to attend the inaugural meeting at Portcullis House, Westminster in November.
The APPG aims to support more expert understanding in Parliament amongst policy makers of the CBD industry (and of course vice-versa).
Currently the Home Office has not yet determined limits of detection for a company to prove that their product does not contain controlled cannabinoids, nor defined permissible trace levels. Meanwhile CBD products being sold today are currently not exempt from control under the Misuse of Drugs Regulations 2001, meaning in theory their sale cannot be deemed legal despite the industry being estimated to be worth £690 million a year in high street sales.
The APPG will seek to address this policy and regulatory gap by:
1. Working to help Ministers define legal thresholds for controlled cannabinoids in CBD products. As all CBD products currently fall foul of the non-defined legal threshold, the APPG will work to call on the Government to end this legal limbo by defining an acceptable level to support the legitimate supply and stamp out the illegitimate.
2. Enabling an evidence based regulatory environment so consumers can continue enjoying the product and major banks and professional service firms can continue to work on setting up businesses and signing deals at home and abroad, enabling jobs, prosperity, and developing British science without the risk of breaching the Proceeds of Crime Act and other regulatory barriers.
