Cruise Ship Complex Development Act 2001

Link to law: http://laws.gov.ag/acts/2001/a2001-13.pdf

No. 13 of 2001. Cruise Ship Complex Development 1 ANTIGUA
Act, 2001. AND

BARBUDA

[ L.S. ]

I Assent,

James B. Carlisle,
Governor-General.

30th August, 200 1.

ANTIGUA AND BARBUDA

No. 13 of 2001

AN ACT to provide for the developement of the Cruise Ship
Complex in St. John's; to authorise the Government to guar-
antee the borrowing of moneys for the development of the
Cruise Ship Complex and to make provision for the pay-
ment of the moneys borrowed.

[ 3lst August, 2001 ]

ENACTED by the Parliament of Antigua and Barbuda as
follows -

1. This Act may be cited as the Cruise Ship Complex Devel- short title.
opment Act, 2001.

2. In this Act - Interpretation.

"Developer" means the Antigua Pier Group Linlited, a
company incorporated under the Conlpanies Act 1995 and
owned by the following shareholders: the Government of
Antigua and Barbuda and Key Properties Linlited;

"Fund" means the Cruise Ship Complex Development
Fund established under section 6.

"Minister" means the Minister responsible for Finance.

ANTIGUA 2 Cruise Ship Complex Development No. 13 0f2001.
AND Act, 2001.

BARBUDA

~uthority to 3. The Government is hereby authorised to cailse the devel-
a cruise opment of a Cruise Ship Complex and to construct a second pier

ship complex. at Lower Nevis Street as part of the Cruise Ship Complex
Development.

Authority toborrow 4. (1) The Developer shall be the agent of the Government
money. and shall be responsible for developing the Cruise Ship Com-

plex and for constructing the second pier at Nevis Street, St.
John's.

(2) For the purpose of financing the development of the
Cruise Ship Complex and the construction of the second pier,
the Developer is authorised to borrow the total sum of Twenty
Two Million United States Dollars (US $22,000,000).

~uthority to 5. Notwithstanding the provisions of any other Act, the Gov-
guarantee. ernment is hereby authorised to guarantee the payment of the

sums of money borrowed under the authority of this Act.

Establishment of a 6. (1) For the purpose of financing the construction of the
fund andprovision second pier and the development of the Cruise Ship F/omplex,
forfinancingofthe there is established by this Act a Fund to be known as "the
project.

Cruise Ship Complex Development Fund".

(2) The Fund established under section (1) shall not form
part of the Consolidated Fund, and shall be kept in separate
account to be managed by the Accountant General.

(3) There shall be paid into the Fund established under this
section the following moneys -

Cap. 122.

No. 10 of 1995.

(a) all moneys levied and collected by the Comptroller
of Customs under the Cruise Passenger Tax Act,
except moneys authorised by that Act to be paid by
the Comptroller of Customs to the National Solid
Waste Management Authority, established under the
National Solid Waste Management Authority At
1995:

(b) all line handling fees and charges paid by cruise
passenger ships to the Ports Manager under the
Ports Authority Act;

No. 13 of2001. Cruise Ship Complex Development 3 ANTIGUA
Act, 2001. AND

BARBUDA

(c) for aperiod of four years, all light dues paid by cruise
passenger ships which is in excess of light dues paid
by cruise passenger ships to the Port Authority
during the calendar year ending 3 1 st December, 2000.

(4) For the purposes of subsection 2 (c), the period of four
years shall commence and end on the dates appointed by the
Minister and published in the Gazette.

(5) All payments made under this section shall be accompa-
nied by such returns as the Minister may direct.

7. The Developer shall open an account with the Antigua Developertoopen
Commercial Bank Limited into which the Accountant General Accountwith

Antigua Commer-
shall pay all moneys from the Fund established under section 6. cial Bank,

8. (1) The Developer is appointed agent of the Accountant Accountant General
. . -

General and is authorised to pay out moneys from the account to p
ayoutofthe

Fund for the
established under section 7 for the purposes of - purposes specified

(a) servicing the loan borrowed under this Act; and

(b) financing the general operations of the Cruise Ship
Complex.

(2) The Developer shall forward to the Accountant Gen-
eral -

(a) quarterly returns of all disbursements from the ac-
count established under section 7; and

(b) any other information that the Accountant General
may, from time to time, require.

9. Subject to subsection 8 (I), the Minister shall direct the Application of
Accountant-General to pay any monies remaining in the ac- moneys in the

account.
count into the Consolidated Fund.

10. All remittances made pursuant to the Loan authorised by Taxexemptions.
this Act are exempt from withholding tax and any other taxes
imposed under any law.

ANTIGUA 4 Cruise Ship Complex Development No. 13 0f2001.
AND Act, 2001.

BARBUDA

Accounts and Audit. 11. (1) The Developer shall keep accounts of its transactions
to the satisfaction of the Minister and such accounts shall be
audited annually by the auditors appointed by the Developer
after consultation with the Minister.

(2) The members, officers, employees or agents of the De-
veloper shall grant to the auditor appointed under this section
to audit the accounts of the Developer, access to all books, docu-
ments, cash and securities of the Developer and shall give to
him, on request, all such information as may be within their
knowledge in relation to the operations of the Developer.

Annual report. 12. (1) The Developer shall prepare and present to the Min-
ister within three months after the expiration of each financial
year of the Developer a report -

(a) describing the activities of the Developer, includ-
ing the progress of the development of the Cruise
Ship Complex;

(b) showing payments made by the Developer to serv-
ice the loan authorised under section 4 and the bal-
ance of any monies remaining in the account;

(c) providing a statement of its accounts audited in ac-
cordance with the provisions of section 1 1.

(2) The report subnzitted under subsection (1) shall be pre-
sented to the House of Representatives.

Minister to name 13. The Minister shall, by Order, appoint a date on which
date forcommence- sections 6 , 7 and 8 come into force.
ment of certain
sections.

No. 13 of 2001. Cruise Ship Complex Development 5 ANTIGUA
Act, 2001. AND

BARBUDA

Passed the House of Representatives this Passed the Senate this 23rd day
10th day of August, 2001. of August, 200 1.

B. Harris,
Speaker.

L. Smith,
Vice-President.

S. Walker, S. Walker,
Clerk of the House of Representatives. Clerk of the Senate.

Printed at the Government Printing Office, Antigua and Barbuda,
by Donovan Southwell, Government Printer

-By Authority, 200 1.
800-8.01 [Price $2.60 ]
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