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Commerical Free Zone Act


Published: 2000

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CAP. 278, COMMERCIAL FREE ZONE ACT BELIZE

COMMERCIAL FREE ZONE ACT

CHAPTER 278

REVISED EDITION 2000

SHOWING THE LAW AS AT 31ST DECEMBER, 2000

This is a revised edition of the law, prepared by the Law Revision Commissioner

under the authority of the Law Revision Act, Chapter 3 of the Laws of Belize,

Revised Edition 1980 - 1990.

This edition contains a consolidation of the following laws- Page

ARRANGEMENT OF SECTIONS 3

COMMERCIAL FREE ZONE ACT 5

Amendments in force as at 31st December, 2000.

BELIZE

COMMERCIAL FREE ZONE ACT

CHAPTER 278

REVISED EDITION 2000

SHOWING THE LAW AS AT 31ST DECEMBER, 2000

This is a revised edition of the law, prepared by the Law Revision Commissioner

under the authority of the Law Revision Act, Chapter 3 of the Laws of Belize,

Revised Edition 1980 - 1990.

This edition contains a consolidation of the following laws- Page

ARRANGEMENT OF SECTIONS 3

COMMERCIAL FREE ZONE ACT 5

Amendments in force as at 31st December, 2000.

THE SUBSTANTIVE LAWS OF BELIZE REVISED EDITION 2000

Printed by the Government Printer,

No. 1 Power Lane,

Belmopan, by the authority of

the Government of Belize.

Commercial Free Zone [CAP. 278

[ ]

3

CHAPTER 278

COMMERCIAL FREE ZONE

ARRANGEMENT OF SECTIONS

PART I

Preliminary

1. Short title.

2. Interpretation.

PART II

Establishment, Functions, etc., of the Commercial Free Zone

Management Agency (CFZMA)

3. Establishment of the CFZMA.

4. Board of Directors of the CFZMA.

5. Functions of the CFZMA.

6. Designation of CFZs.

7. Appointment and functions of the Chief Executive Officer.

8. CFZ developers.

9. Powers and responsibilities of CFZ developers.

PART III

Commercial Activities, Tax Regime, etc., of Commercial Free Zones

10. Establishment of wholesale and retail businesses.

11. Applications for operation within a CFZ.

12. CFZ imports and exports.

13. Social fee.

13. Sales within a CFZ.

14. CFZ regulatory regime.

15. CFZ tax regime.

16. CFZ labour regime.

PART IV

General

17. Enforcement and liabilities.

18. Regulations.

19. Commencement.

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Commercial Free Zone [CAP. 278

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CHAPTER 278

COMMERCIAL FREE ZONE

[8th February, 1995]

PART I

Preliminary

1. This Act may be cited as the Commercial Free Zone Act.

2. In this Act, unless the context otherwise requires:-

“Chief Executive Officer” or “CEO” means the Chief Executive Officer of a

CFZ;

“Commercial Free Zone” or “CFZ” means a geographic area in Belize de-

signated as such by the CFZMA under section 6 of this Act wherein inves-

tors may establish businesses and conduct trade and commerce free of the

national customs regime;

“Commercial Free Zone business” or “CFZ business” means a private or

public party which has been granted approval to operate such a business

under this Act and any regulations and which conducts a trade or business,

including but not limited to manufacturing, commercial, office, warehousing,

professional or other activity, primarily within any Commercial Free Zone

established under this Act or any regulations;

“Commercial Free Zone Management Agency” or “CFZMA” means the

agency established under section 3 of this Act;

27 of 1994.

20 of 1998.

43 of 1999.

Commencement

[18. 3. 1995]

S.I. 30 of 1995.

Short title.

Interpretation.

“Commercial Free Zone developer” or “CFZ developer” means any

person, private or public, who has been issued a Certificate of Designation

by the CFZMA under regulations and who is thereby authorized to develop

certain infrastructures within a CFZ and charge fees for its property and

services;

“domestic Belizean business” means any non-foreign individual, partnership,

corporation, or other entity conducting a trade or business within Belize

which is not a Commercial Free Zone business;

“Export Processing Zone” or “EPZ” shall have the meaning assigned to it

under the Export Processing Zone Act;

“Minister” means the Minister to whom the responsible for Commercial

Free Zones is for the time being assigned by the Governor-General under

section 41 of the Constitution;

“national customs territory” means any areas within Belize which are located

outside of a CFZ or an EPZ and which are subject to the national customs

and excise law;

“public party” means any agency of the Government of Belize;

“private party” means any individual, partnership, company, corporation, or

other entity, domestic or foreign, which is not a government agency or

owned in any part by a government agency;

“public service” means any service which has been provided in Belize by the

Government of Belize or any of its agencies;

“regulations” means regulations made under this Act.

CAP. 280.

43 of 1999.

CAP. 4.

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PART II

Establishment, Functions, etc., of the Commercial Free Zone

Management Agency (CFZMA)

3. A Commercial Free Zone Management Agency, (also to be known

as the “CFZMA”) is hereby established which shall be a body corporate

with perpetual succession and a common seal, and with powers as such to

enter into contracts, to sue and be sued by law in its corporate name and

which may for all purposes be described by such name; to acquire, hold,

mortgage, lease and dispose of all kinds of properties, moveable and

immoveable, and to do and perform such acts and things as bodies corporate

may by law do and perform subject to the provisions of this Act.

4.-(1) There shall be a Board of Directors of the CFZMA which, subject to

the provisions of this Act, shall be responsible for the policy and general

administration of the affairs of the CFZMA.

(2) The Board of Directors shall comprise the following members:

(a) one representative of the Ministry responsible for Trade

and Industry;

(b) one representative of the Ministry of Finance;

(c) one representative of the Ministry responsible for

Tourism;

(d) one representativeof the Ministryof Economic Develop-

ment;

(e) the Comptroller of Customs or his representative;

(f) a representative of the Ministry responsible for Labour;

Board of

Directors of the

CFZMA.

Establishment of

the CFZMA.

43 of 1999.

43 of 1999.

(g) four free zone representatives elected by the members

of the CFZ developers and CFZ businesses;

(h) one representative of the Belize Chamber of Commerce

and Industry; and

(i) the Chief Executive Officer appointed under section 7

of this Act, who shall have no right to vote.

(3) On the commencement of this Act and thereafter during the

month of January in each year, the Minister shall appoint one of the

members of the Board to be the Chairman and the members shall elect one

of their number to be the Deputy Chairman of the Board1.

(4) The Chairman shall preside at all meetings of the CFZMA and

in his absence the Vice-Chairman shall preside.

(5) The CFZMA shall meet at least once every two months on a

date and at a time set by the Chairman of the CFZMA or at the request of

two or more members thereof.

(6) The quorum of the CFZMA shall be five members.

(7) The decisions and resolutions of the Board shall be by a

majority of the members present and voting, and in the event of an equality

of votes, the person presiding at the meeting shall have a second and casting

vote in addition to his original vote1.

(8) The representatives of the CFZ developers and CFZ businesses

appointed under paragraph (g) of subsection (2) above shall hold office for

a period of two years but may be re-elected.

(9) Subject to the provisions of this Act and any regulations, the

CFZMA may regulate its own procedure.

43 of 1999.

43 of 1999.

43 of 1999.

1 This provision was added by Act 43 of 1999.

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5.-(1) The functions of the CFZMA shall be as follows:

(a) to designate Commercial Free Zones in accordance with

this Act and any regulations, based on the need for eco-

nomic development in the proposed CFZ area, and the

viability of such designation in creating direct and in-

direct employment and other considerations of public

interest;

(b) to designate retail duty free areas within a CFZ;

(c) to recommend to the Minister policies, plans, and

programmes to further develop Commercial Free Zones;

(d) in the case of a public-sector managed CFZ, to

recommend an annual budget and plans for such CFZ;

(e) to carry out all functions and discharge responsibilities

assigned under this Act and any regulations;

(f) to review and approve the annual budget, programme

and functions of a CFZ submitted by the CEO of a

CFZ;

(g) to recommend the expansion of any CFZ;

(h) to issue Certificates of Designation to CFZ developers in

accordance with this Act and regulations.

(2) Any investor whose CFZ business application is not approved by

the CEO shall have a right of appeal to the CFZMA.

(3) Notwithstanding subsection (1) above, the Minister may, if he

considers it expedient and with the approval of the Cabinet, designate any

area in Belize to be a commercial free zone for the purposes of this Act and

Functions of the

CFZMA.

20 of 1998.

every such designation shall have the same effect as if made by the CFZMA

and shall be subject to negative resolution of the National Assembly.

6.-(1) The CFZMA shall establish by regulations, the procedure by which

public or private parties may apply for CFZ designation.

(2) The designation of a CFZ shall be by a two-thirds resolution of

all members of the Board of Directors of the CFZMA.

(3) The designation of a CFZ shall be subject to negative resolution

of the National Assembly.

7.-(1) The CFZMA shall appoint a suitably qualified person as the Chief

Executive Officer of a CFZ.

(2) The functions of the Chief Executive Officer shall be to -

(a) attend to the daily management of the business activities

of CFZs in accordance with this Act and the rules and

regulations governing CFZs and to carry out the in-

structions of the CFZMA;

(b) recruit, supervise and dismiss staff;

(c) formulate loan requests for the CFZMA and an annual

budget with plans and programmes for presentation to

and approval by the Board of Directors of the

CFZMA;

(d) prepare periodic reports and an annual report,

including a statement of the accounts of the CFZMA

audited annually by an auditor appointed in each year

by the CFZMA, as required by the CFZMA to be

presented to the CFZMA and the Ministry responsible

Designation of

CFZs.

Appointment and

functions of the

Chief Executive

Officer.

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for Trade and Industry;

(e) execute decisions and resolutions made by the CFZMA,

including but not limited to the purchase, sale and dis-

posal of properties and assets of the office of the

CFZMA;

(f) contract the services of management or technical experts

on matters of organization and operations of a CFZ;

(g) issue permits for the entry and exit of persons, goods

and services to and from CFZ premises;

(h) issue Certificates of Compliance to CFZ businesses

operating within CFZs;

(i) collect fees and charges as imposed under this Act, the

regulations, or by the CFZMA;

(j) issue Certificates of Origin to those businesses operating

within a CFZ;

(k) approve and disapprove applications for Certificates of

Compliance and ensure that all building and landscape

plans within a CFZ comply with the national codes and

Laws of Belize;

(l) carry out any other responsibilities that may be assigned

by the CFZMA.

(3) For the purpose of this section, “Certificate of Origin” means the

documentation issued by the CFZMA or any authorized agency in Belize for

the purpose of import and export trade, designating goods and services as

originating from Belize.

8.-(1) A CFZ developer may be one or more private or public incor-

porated entity.

(2) A CFZ developer shall obtain a Certificate of Designation from

the CFZMA in accordance with this Act and any regulations.

9. A CFZ developer shall have power to:

(a) lease or sell land to private parties which have secured

an approved application from the CEO;

(b) make improvements, construct facilities and develop

infrastructure to enhance a CFZ’s economic develop-

ment;

(c) provide public or other services within a CFZ;

(d) construct roads, drains, railways, airports, ports,

wharves, docks, places of embarkation and disem-

barkation, stations to transit passengers and merchan-

dise, or loading and unloading docks which shall facili-

tate trade within a CFZ and with a CFZ and interna-

tional trading parties;

(e) charge fees for any services or facilities it provides

within a CFZ;

(f) adopt rules and regulations within a CFZ to promote

the safe, efficient and successful operation of a CFZ

business, consistent with this Act and any regulations

and any other laws;

(g) promote and advertise CFZs to prospective investors,

business owners and operators and promote CFZs

CFZ developers.

Powers and

responsibilities of

CFZ developers.

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abroad to increase sales for clients;

(h) provide adequate services and facilities in accordance

with the recommendations of the CFZMA;

(i) conduct other activities authorised under this Act or any

regulations.

PART III

Commercial Activities, Tax Regime, etc., of Commercial Free Zones

10. Any private or public party or group of parties may establish whole-

sale and retail businesses on property it owns or has leased within a CFZ,

provided that it has secured approval from the CEO, to establish such

businesses in the areas designated for that purpose.

11.-(1) Any public or private party desirous of operating in a CFZ shall

submit an application to the CEO for review and approval in accordance

with this Act and any regulations.

(2) The CEO may approve an application submitted under sub-

section (1) above if the proposed business enterprise:-

(a) will conduct trade and investment activities such as a

commercial office, warehouse, manufacturing, insurance

services, financial services, banking services, offshore

financial services and other professional, or related

activities;

(b) will not have a deleterious effect on the environment

having regard to any environmental impact assessment

made for the purpose;

Establishment of

wholesale and

retail businesses.

Applications for

operation within

a CFZ.

(c) will be conducted in compliance with all applicable

legal and regulatory requirements under the Laws of

Belize and all the rules and regulations of a CFZ

established by the operating authority.

(3) Private and public parties shall operate only within the CFZ in

which they have been authorized to operate.

(4) Businesses which operate within the national customs territory

shall not be permitted to operate within a CFZ.

12. (1) All merchandise, articles, or other goods entering a CFZ for

commercial purposes shall be exempt from import duties, stamp duties and

revenue replacement duties.

(2) All fuel and goods, including building materials, furniture, equip-

ment, supplies and parts required for the proper functioning of a CFZ

business shall likewise be exempt from all duties and taxes and charges

referred to in subsection (1) above.

(3) Motor vehicles and fuel for personal use entering a CFZ shall

not be exempted from the taxes and duties referred to above.

(4) No quotas upon any article, item, or good shall apply to imports

or exports of a CFZ business.

(5) The provisions of subsections (1) to (4) of this section shall

apply mutatis mutandis to CFZ developers.

(6) The following goods shall not be allowed to enter a CFZ:

(a) goods which are prohibited by law to enter a CFZ;

(b) arms and ammunition for commercial purposes;

CFZ imports and

exports.

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(c) merchandise not approved for sale by the CFZMA; and

(d) goods and articles which are not required for the com-

mercial functioning of a CFZ.

(7) Where a CFZ business operating in a CFZ is exempt from taxes

and duties mentioned in this section, the CFZMA shall exercise responsibility

and control, in accordance with regulations, over all such goods and mer-

chandise allowed to enter a CFZ.

(8) Merchandise destined for a CFZ shall be taken from its port of

entry in sealed containers to the CFZ where they shall be inspected by

customs authorities to ensure that:

(a) they do not contain prohibited items or materials; and

(b) the goods are accompanied by appropriate documen-

tation.

(9) All merchandise entering a CFZ shall be consigned to a person

or firm established in a CFZ.

(10) No imports or exports by a CFZ business shall require an

import or export licence.

(11) All imports and exports of a CFZ to or from whatever des-

tination shall be exempt from all customs duties, consumption taxes, excise

taxes, export duties, in transit taxes or export taxes, except those destined for

and directly entering areas subject to the national customs territory.

(12) All exports from a CFZ to the national customs territory shall be

subject to duties under the national customs regime, provided that such duties

shall be based on the original value of the imported parts or products before

assembling, remixing, relabelling, processing, manufacturing or any other

similar activity.

(13) Merchandise warehoused in a CFZ may be wholesaled or

retailed for:

(a) sales to diplomats of other countries who under

customary and conventional international law are

exempt from payment of duties;

(b) sales to ships that dock at ports in Belize and are

destined for other foreign ports;

(c) sales for direct export whether by sea, air or land,

provided that such merchandise arrive at the port of

exit under customs control;

(d) entry into national customs territory, provided the

goods are sold wholesale, and the import licence if so

required, is secured and the customs duties paid;

(e) entry into national customs territory, provided that the

goods are sold retail in operations which have licences

to sell duty-free to residents and non-residents who are

leaving the country and have submitted proof of depar-

ture. Such duty-free retail goods shall be delivered to

the buyers at a port of exit or embarkation.

(14) The removal of merchandise from a CFZ for sale to national

customs territory or to ships in transit may be effected at any day or time

convenient to the Customs Department.

(15) Merchandise may be sold inside a CFZ from one business to

another, provided that a proper record is kept of such transactions.

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(16) CFZ businesses shall be required to submit a detailed account

of inventories, record of all transfers and destruction of goods and a record

of sales on a monthly basis to the office of the CEO. In special cases, the

CEO may deem it necessary to have an inventory account, sales and transfer

record prepared on demand and these records may also apply to CFZ

activities.

(17) Merchandise may remain in a CFZ for an unlimited period of

time, provided that they are non-perishable and are warehoused in places

and under conditions suitable for such merchandise.

(18) The Health Department may require the CEO to remove any

particular merchandise from a CFZ, which pose a threat to public health and

safety.

(19) All CFZ businesses and CFZdevelopers shall notify the CEO

and Customs Department of all their exports from a CFZ.

13.-(1) Notwithstanding any provision of this Act or any other law to the

contrary, there shall be charged the following social fee on the value of goods

and services imported into a CFZ:-

(a) all goods other than fuel..........................1 1/2%;

(b) fuel........................................................10%.

(2) The Comptroller of Customs shall be responsible for collection of

the social fee levied on imports under this section.

(3) For the purpose of collecting and enforcing the payment of the

social fee levied under this section, the Customs Regulation Act and any

Regulations made thereunder relating to the importation of goods shall apply

in the same manner as if the fee were a duty of customs.

Social fee.

43 of 1999.

43 of 1999.

43 of 1999.

CAP. 49.

(4) The social fee levied under this section becomes due and payable

at the time when the goods are entered and is the liability of the importer.

(5) The social fee levied under this section shall be used exclusively

for sports and educational development, and for the provision of health and

other social services by the Government.

14.-(1) No licence shall be required for the sale of any goods or articles or

services provided within a CFZ.

(2) A CFZ business shall, if so required by the vendor, pay for any

article, item, material, good or service in any currency prescribed by the

Central Bank of Belize under section 15(2) (a) below.

(3) No price controls imposed under any law shall apply to the sale

of any such article, good or service sold or supplied under subsection (1)

above.

(4) The Customs Department and the CEO may require a CFZ

business to furnish such information about imports, exports and other

transactions occurring within a CFZ as may be reasonably necessary to

exercise regulatory control over CFZ activities.

(5) A CFZ business which is required to furnish information in

accordance with subsection (4) above, shall comply with such request

without undue delay and shall cooperate fully with the Customs Department

and the CEO in the proper discharge of their regulatory functions.

15.-(1) No person shall be allowed to ordinarily reside within a CFZ

except in certain cases and with the written permission of the CEO.

(2) Notwithstanding anything contained in the Exchange Control

Regulation Act or regulations made thereunder:-

CFZ regulatory

regime.

Sales within a

CFZ.

43 of 1999.

43 of 1999.

CAP. 52.

43 of 1999.

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Commercial Free Zone [CAP. 278

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(a) the currency to be used within a CFZ shall be that

prescribed by the Central Bank of Belize;

(b) no Government charges and taxes shall be made on the

use of foreign currency within a CFZ;

(c) each CFZ business shall open an account in any cur-

rency prescribed by the Central Bank of Belize under

paragraph (a) above with a duly registered bank of its

choice which is located in the CFZ.

(3) A CFZ business shall furnish to the CEO and the Central Bank

of Belize a monthly report of transactions in its foreign currency accounts.

(4) No trade licence shall be required to conduct a CFZ business

other than the written approval of the CEO obtained in accordance with this

Act and the regulations, and the Trade Licencing Act shall not apply to a

CFZ business.

(5) Banks and financial institutions which are licenced under the

Laws of Belize shall be allowed to operate within a CFZ, but their trans-

actions shall be limited to only CFZ businesses.

(6) The Rent Restrictions Act shall not apply to a CFZ business or

to rental of property within a CFZ.

(7) A CFZ business shall not be restricted to purchasing any good

or service from a particular company or entity or any group of companies or

entities, provided that before considering independent utility services, the

option for the provision of such services shall be offered to the existing

providers of utility services in Belize based on quality, competitiveness and

rates offered for such services.

43 of 1999.

43 of 1999.

CAP. 66.

CAP. 195.

(8) An exclusive franchise to sell any particular good or service

shall not be granted within a CFZ.

(9) Every CFZ business shall submit a detailed account of its full

inventory in whole or in part to the CEO within one week from the last day

of every month or upon request by the CEO and such an account shall

include all records of entry, sales, destruction and transfers of such

inventory.

(10) No restrictions shall be placed on the transfer of investment of

any CFZ business within a CFZ.

(11) No CFZ business shall be restricted to investing in any other

CFZ business in its purchase of stocks or bonds and the sale of stocks and

bonds of any CFZ business shall be registered at the General Registry and a

certified copy of the company certificate and articles of memorandum shall

be furnished to the CEO.

16.-(1) Notwithstanding anything contained in the Income and Business Tax

Act, there shall be levied on the chargeable income of every CFZ developer

and CFZ business within a CFZ, an income tax at the following rates-

(a) up to BZ$15,000.00 of total chargeable income... 2%;

(b) over BZ$15,000.00 and up to BZ$30,000.00 of total

chargeable income .............................................. 4%;

(c) over BZ$30,000.00 and up to $ 100,000.00 of total

chargeable income ..............................................6%;

(d) over BZ$100,000.00 of total chargeable income.. 8%.

(2) In the computation of income tax under this section, there shall

be given tax credits in accordance with the number of Belizean workers

CFZ tax regime.

CAP. 55.

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employed on a continuing basis by every CFZ developer or CFZ business in

accordance with the following scale:

(a) from 10 to 30 Belizean workers employed ............ 1%

of taxable income;

(b) over 30 and up to 50 Belizean workers employed..1.5%

of taxable income;

(c) over 50 Belizean workers employed .......................2%

of taxable income.

(3) During the first ten years of its operation, a CFZ business shall be

exempt from income tax or capital gains tax or any new corporate tax levied

by the Government of Belize after the commencement of this Act, and any

dividends paid by a CFZ business shall be exempt from such tax for the first

twenty years of its operation.

(4) Where a CFZ business incurs a total net loss over the five years

tax holiday specified in subsection (3) of this section, that loss may be carried

forward and deducted against profits in the three years following the tax

holiday period.

(5) Any proceeds from the sale of stock or other partial or com-

plete ownership interest in a CFZ business shall be exempt from tax levied

under this section.

(6) The tax levied under this section shall be collected by the Com-

missioner of Income Tax and the provisions of the Income and Business Tax

Act shall, subject to this section or any regulations, mutatis mutandis apply

to the collection of such tax and any appropriate action against the defaulter.

(7) A CFZ fee equal to the sum of five per centum of the tax collec-

ted by the Commissioner of Income Tax under this section in any year of

43 of 1999.

CAP. 55.

assessment shall be placed to the credit of the CFZMA.

(8) The CFZMA shall be exempt from all taxes.

(9) Gross receipts tax and any form of value added tax shall not

apply within a CFZ.

17.-(1) All CFZ businesses shall pay their workers in the currency of Belize

or any other currency as agreed to by the workers.

(2) There shall be no restrictions on the operations of CFZ busi-

nesses which may open twenty-four hours, seven days a week, provided

that such businesses obtain the prior approval of the CEO.

(3) The Immigration Department, on the recommendation of the

CEO, may grant work permits to non-resident persons required to serve

within a CFZ in managerial or technical positions.

PART IV

General

18.-(1) The CFZMA shall have the power and responsibility to impose

fines for violations of any of the provisions of this Act by a CFZ business or

CFZ developer and may make regulations for this purpose.

(2) The CEO and other regulatory authorities shall have the right to

inspect any CFZ operations or facilities to investigate violations of appli-

cable requirements.

(3) Where a CFZ business repeatedly violates the provisions of this

Act or regulations, the CEO, after due notice and hearing, may revoke the

status of the CFZ business to operate within the CFZ, whereupon the

business enterprise concerned shall cease to be eligible for any benefits

CFZ labour

regime.

Enforcement and

liabilities.

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Commercial Free Zone [CAP. 278

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under this Act.

(4) Where the CEO determines that a foreign national working for a

CFZ business ceases to comply with the requirements of a work permit, the

CEO shall recommend to the Immigration Department that the work permit

of such a person may be revoked.

(5) A CFZ business shall be liable for any damage to persons or

property which may result from any violation of relevant regulatory

requirements by the CFZ business.

(6) Every CFZ business shall comply with all the Laws of Belize

save as otherwise provided in this Act.

(7) Every CFZ business shall have the right to appeal to the

CFZMA against any decision of the CEO.

(8) Every CFZ business shall enjoy protection from deprivation of

property, in accordance with the fundamental rights guaranteed under the

Belize Constitution.

(9) All fines imposed by the CFZMA under this Act shall operate as

a debt due to the CFZMA from the offender and may be recovered as a civil

debt in a court of competent jurisdiction as provided by law.

(10) The CFZMA may revoke the Certificate of Compliance of a

CFZ business for repeated failure to pay fines imposed under this Act or any

regulations.

19.-(1) The CFZMA may, by a two-thirds majority, make regulations for

the better carrying out of the provisions of this Act, and for prescribing

anything that needs to be prescribed under this Act.

CAP. 4.

Regulations.

(2) Any regulations made by the CFZMA under this section shall

be placed before the National Assembly through the Minister as soon as

may be after the making thereof and shall be subject to negative resolution.

20. This Act shall come into force on a day to be appointed by the

Minister by Order published in the Gazette.

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Commencement.