CAP. 282, BELIZE TRADE AND INVESTMENT PROMOTION SERVICE ACT BELIZE
BELIZE TRADE AND INVESTMENT
DEVELOPMENT SERVICE ACT
CHAPTER 282
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
BELIZE TRADE AND INVESTMENT DEVELOPMENT
SERVICE ACT 6
Amendments in force as at 31st December, 2000.
BELIZE
BELIZE TRADE AND INVESTMENT
DEVELOPMENT SERVICE ACT
CHAPTER 282
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
BELIZE TRADE AND INVESTMENT DEVELOPMENT
SERVICE ACT 6
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.
Belize Trade and Investment Development Service [CAP. 282
[ ]
3
CHAPTER 282
BELIZE TRADE AND INVESTMENT DEVELOPMENT SERVICE
ARRANGEMENT OF SECTIONS
PART I
Preliminary
1. Short title.
2. Interpretation.
PART II
Establishment, Objectives and Functions of the BELTRAIDE
3. Establishment of the BELTRAIDE.
4. Body corporate.
5. Functions of the BELTRAIDE.
PART III
Administration
6. Board of Directors.
7. Composition of the Board.
8. Functions of the Board.
9. Meetings of the Board.
10. Disqualifications to be a director.
11. Board to be protected by Public Authorities Protection Act.
12. Delegation of powers.
13. Protection of directors.
14. Rules of the BELTRAIDE.
15. Directions by Minister.
PART IV
Appointment of Staff, etc.
16. Appointment of staff.
17. Duties of Executive Chairman.
PART V
Financial Provisions, Accounts and Reports
18. Revenue of the BELTRAIDE.
19. Fees for services.
20. Expenses of the BELTRAIDE.
21. Submission of budget estimates.
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22. Accounts and audits.
23. Annual report.
PART VI
Miscellaneous
24. Validity of Board’s acts.
25. Exemption from income tax, property tax, stamp duty and import
duty.
26. Regulations.
CHAPTER 282
BELIZE TRADE AND INVESTMENT
DEVELOPMENT SERVICE
[18th March, 1997]
PART I
Preliminary
1. This Act may be cited as the Belize Trade and Investment
Development Service Act.
2. In this Act, unless the context otherwise requires:-
“BELTRAIDE” means the Belize Trade and Investment Development
Service established under section 3;
“Board” means the Board of Directors of the Belize Trade and Investment
Development Service established under section 6;
“Executive Chairman ” means the Executive Chairman of the Belize Trade
and Investment Development Service appointed by the Minister pursuant to
section 7;
“General Manager” means the General Manager of the Belize Trade and
Investment Development Service appointed pursuant to section 16(1);
“Government” means Government of Belize;
“Minister” means the Minister to whom the subject of investment and/or
trade is assigned by the Governor-General pursuant to section 41 of the
Belize Constitution;
Commencement
[16. 4. 1997 ]
S.I. 30 of 1997.
Short title.
2 of 2000.
Interpretation.
2 of 2000.
2 of 2000.
5 of 1997.
2 of 2000.
2 of 2000.
2 of 2000.
CAP. 4.
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PART II
Establishment, Objectives and Functions of the BELTRAIDE
3.-(1) A body to be known as the Belize Trade and Investment Develop-
ment Service is hereby established as an autonomous institution governed by
the provisions of this Act.
(2) The BELTRAIDE may exercise any of the functions entrusted to
it by or in accordance with the provisions of this Act or any regulations made
thereunder, and may execute any other duties incidental or ancillary to, or
consequential upon, the performance of its functions.
4.- (1) The BELTRAIDE shall be a body corporate having perpetual suc-
cession and a common seal, and subject to the provisions of this Act, shall
have power to acquire, hold and dispose of movable and immovable
property of whatever kind and to enter into contracts and do all things
necessary for the attainment of its objectives.
(2) The BELTRAIDE may sue or be sued in its corporate name and
shall for all purposes be described by that name.
(3) The seal of the BELTRAIDE shall be authenticated by the
signatures of the Executive Chairman or the General Manager and one other
director duly authorized by the Board to act for that purpose, and the seal
thus authenticated shall be judicially and officially noticed.
(4) All documents made by the BELTRAIDE, other than those
required by law to be made under seal, shall be signified under the hand of
the Executive Chairman or the General Manager.
(5) The BELTRAIDE shall have its principal office at such place in
Belize as the Board may decide, and may establish foreign offices and other
offices within Belize as it considers necessary.
Establishment of
the BELTRAIDE.
Body corporate.
2 of 2000.
2 of 2000.
5. The functions of the BELTRAIDE include the following:-
(a) giving advice and tendering recommendations to the
Minister on the formulation of appropriate policies to
guide trade and investment promotion activities;
(b) identification of products for development and
promotion;
(c) identification of industries to be targeted for investment;
(d) designing and assisting in the implementation of export
promotion programmes, particularly for Belizean non-
traditional export products;
(e) identifying suitable and viable potential export markets
for Belizean products;
(f) liaising with relevant organizations under the Export
Processing Zone Act, and the Commercial Free Zone
Act, in the promotion of local and foreign investments
in Belize;
(g) implementing policy guidelines on the country’s trade
and investment promotion programmes;
(h) implementing multilateral and bilateral loan-assisted
projects for the development of medium and small
enterprises;
(i) collecting, storing and disseminating, on a continuous
basis, reliable and timely information and trends in
international trade and investment;
Functions of the
BELTRAIDE.
CAP. 280.
CAP. 278.
2 of 2000.
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(j) advising and assisting relevant Government Ministries in
the formulation and implementation of trade agreements,
conventions, treaties and other agreements, or actively
participating in the negotiation of such agreements,
conventions, treaties, and arrangements for and on
behalf of the Government;
(k) monitoring the development of global trade policies;
(l) undertaking, encouraging and supporting publicity
campaigns to promote Belizean products in the
international markets;
(m) establishing and maintaining a register of exporters,
importers, investors and other relevant partners in trade,
for the regular supply of trade and market information;
(n) performing and discharging such other functions and
duties as may be conferred or imposed upon it by the
Fiscal Incentives Act or any other law;
(o) performing the functions of a one-stop information
center to investors or potential investors and furnishing
to such investors as aforesaid full information about all
the investment procedures and requirements in Belize.
PART III
Administration
6. There shall be a Board of Directors of the BELTRAIDE , appointed
by the Minister, which shall be constituted as provided under section 7, and
the Board shall be the principal policy-making organ of the BELTRAIDE .
2 of 2000.
CAP. 54.
2 of 2000.
Board of
Directors.
7.-(1) The Board of Directors shall consist of the following:-
(a) the Executive Chairman; who will be appointed by the
Minister; who will have to his credit a proven record of
wide experience of trade and investment promotion
activities and services, and command high respect both
in the public and private sectors, coupled with proven
leadership qualities to inject drive and dynamism into
the BELTRAIDE;
(b) a representative of the Ministry for the time being
responsible for Investment and/or Trade;
(c) a representative of civil society organizations/trade
unions in Belize which are recognized by the Minister
for their contribution to the development of Belizean
society;
(d) a representative of the Ministry of Agriculture and
Fisheries;
(e) a representative of the Belize Chamber of Commerce
and Industry;
(f) a representative of the Belize Business Bureau;
(g) a representative of the small business sector;
(h) one representative nominated by the private sector
industries involved in export trade and/or foreign
investment;
(i) the General Manager, ex officio, without a right to
vote;
Composition of
the Board.
No. 2 of 2000.
No. 2 of 2000.
2 of 2000.
2 of 2000.
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(j) two persons appointed by the Minister in his absolute
discretion from business associations recognized by the
Minister.
(2) The Executive Chairman and the members referred to in sub-
section (1) shall be appointed for a period of two years:
Provided that the Executive Chairman and any director retiring on the
expiration of his term of office shall, subject to section 10, be eligible for
reappointment.
(3) The Board shall appoint from among its members a Deputy
Chairman who shall hold office for a period of two years and shall be eligible
for reappointment.
(4) Where, for any reason, the Executive Chairman is unable to
preside at any meeting of the Board:-
(a) the Deputy Chairman shall preside if present and able to
do so; and
(b) if the Deputy Chairman is absent or unable to preside,
the directors present shall elect one of their members to
preside.
(5) If a director is in any way directly or indirectly interested in any
contract or other arrangement or matter included in the agenda of the
Board’s meeting, it shall be the duty of such director to notify the Board of
his interest, and to excuse himself from all proceedings, debates and voting
pertaining to such interest.
8. The functions of the Board will include the following:-
(a) to lay down a policy framework for the efficient
2 of 2000.
2 of 2000.
2 of 2000.
2 of 2000.
Functions of the
Board.
functioning of the BELTRAIDE ;
(b) to provide guidance in the formulation and implemen-
tation of trade and investment policy and promotion;
(c) to provide guidance in the formulation and
implementation of export promotion policy and
programmes;
(d) to provide guidance to forge strong cooperation
between the public and private sectors.
9.-(1) The Board shall meet as frequently as the business of the Board
requires but not less than once every three months in the year.
(2) The Executive Chairman, or in his absence, the Deputy Chair-
man, shall summon a special meeting of the Board within seven days of a
requisition for that purpose addressed to him by any three directors.
(3) A quorum for any meeting of the Board shall be five directors,
one of whom shall be the General Manager.
(4) Decisions of the Board shall be by majority of the votes cast;
provided that in any case in which the voting is equal, the person presiding
at the meeting shall have a second or casting vote.
(5) The Board shall employ the services of an official or other
member of staff as secretary and shall ensure that records are kept of its
acts and decisions.
10.-(1) No person shall be appointed or remain a director who is a member
of the Cabinet as provided in section 44 of the Belize Constitution .
(2) The Minister may terminate the appointment of the Executive
Meetings of the
Board.
2 of 2000.
2 of 2000.
Disqualifications
to be a director.
CAP. 4.
2 of 2000.
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Chairman or any other director only if the Executive Chairman or such
director, as the case may be:-
(a) resigns his office by writing under his hand addressed to
the Minister;
(b) becomes subject to the disqualification specified in
subsection (1);
(c) becomes bankrupt or insolvent, compounds with his
creditors or benefits under the law for the relief of a
bankrupt or makes any assignment in whole or in part of
his income for the benefit of such creditors;
(d) is convicted of an offence involving dishonesty, or of any
offence punishable with not less than one year
imprisonment;
(e) becomes totally or permanently incapable of performing
his duties;
(f) is guilty of gross misconduct.
(3) The Minister may terminate the appointment of a director who
absents himself from three consecutive meetings without leave from the
Board.
(4) In the case of a member of the Board appointed under section
7(1) (e), (f), (g) and (h), the Minister may also terminate the directorship of
such member if a request from the organization which nominated him is
received to that effect.
(5) The names of all members of the Board as first constituted, their
terms of office and every change in the membership shall be published in the
Gazette.
11. The Board shall be entitled to the same protection under the Public
Authorities Protection Act as if it were included in the definition of “Public
Authority” given in section 2 of that Act, and the place at which the Board
shall hold its meetings shall be deemed to be the “abode” of the Board
within the meaning of that Act.
12.(1) Subject to the provisions of this Act, the BELTRAIDE may delegate
to any member of the Board or to any committee established pursuant to
this Act, the power and authority to carry out on its behalf such duties as the
Board of Directors of the BELTRAIDE may from time to time determine.
(2) It shall be lawful for the BELTRAIDE to establish committees
for the full and effectual discharge of its duties and authorize such com-
mittees to analyze, investigate, research and report back to the BEL-
TRAIDE on any matter which the Board of Directors of the BELTRAIDE
feels should be analyzed, investigated, researched and reported back by any
committee.
(3) Members of any committee established pursuant to this section
may either be members of the Board of Directors of the BELTRAIDE or
such other technical persons with expertise in the area to be analyzed, inves-
tigated and researched as the BELTRAIDE may determine from time to
time.
13. No director shall be personally liable for any act or omission of the
BELTRAIDE or of the Board, or of any director, or officer of the
BELTRAIDE, if the act or omission is made in good faith in the course of
the operations of the BELTRAIDE , or the Board.
14.-(1) The Board may from time to time with the approval of the Minister,
make rules of the BELTRAIDE, not inconsistent with this Act, for all or any
of the following purposes:-
Board to be pro-
tected by Public
Authorities
Protection Act.
CAP. 31.
Delegation of
powers.
2 of 2000.
Protection of
Directors.
Rules of the
BELTRAIDE.
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(a) regulating the proceedings of the Board;
(b) providing for the custody of the property of the
BELTRAIDE, and the custody and use of the common
seal of the BELTRAIDE;
(c) regulating the terms and conditions of employment of
persons appointed under section 16;
(d) preparing quarterly and annual reviews of the
BELTRAIDE; and
(e) providing for such other matters as may be necessary or
expedient for the better carrying out of the functions of
the BELTRAIDE .
(2) Notice in writing of every proposed resolution to make rules
under this section or for the amendment or revocation of any rule so made,
(including a copy of the proposed rules, amendment or revocation) shall be
given to every director not less than twenty-one days before the meeting at
which the proposal is to be moved, but any inadvertent failure to comply with
this subsection shall not invalidate the making, amendment, or revocation of
any rule at that meeting.
15. The Minister may give written directions of a general nature
pertaining to the policy to be followed by the Board in the performance of its
functions and the attainment of its objectives and the Board shall comply with
such directions.
PART IV
Appointment of Staff, etc.
16.-(1) The Executive Chairman may appoint and employ, with the approval
of the Board, at such remuneration and subject to such terms and conditions
Directions by
Minister.
Appointment of
staff.
2 of 2000.
as the Executive Chairman thinks fit, a suitably qualified fit and proper
person as General Manager.
(2) The Executive Chairman may appoint and employ, with the
approval of the Board and at such remuneration and subject to such terms
and conditions as the Executive Chairman thinks fit, such other persons as
officers and employees of the BELTRIADE as may be necessary for the
proper performance of the BELTRAIDE’s functions under this Act.
17.-(1) The Executive Chairman shall, subject to the general policy direc-
tions of the Board, be responsible for the management and administration of
the BELTRAIDE, including but not limited to the appointment of members
of the BELTRAIDE’s staff pursuant to section 16, and the discipline and
dismissal of such members of staff in accordance with this Act.
(2) The Executive Chairman shall have authority:-
(a) to sign jointly with the General Manager or any other
director duly authorized by the Board for that purpose,
reports, balance sheets and other financial statements;
(b) to delegate his powers provided for in paragraph (a) of
this subsection to any other officer of the BELTRAIDE.
(3) The General Manager shall assist the Executive Chairman in the
discharge of his functions and duties under this Act, and it shall be lawful for
the Executive Chairman to delegate to the General Manager all or part of
such functions and duties.
PART V
Financial Provisions, Accounts and Reports
18. The revenues of the BELTRAIDE shall consist of the following:
Duties of Executive
Chairman.
No. 2 of 2000.
2 of 2000.
2 of 2000.
2 of 2000.
Revenue of the
BELTRAIDE.
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(a) revenues allocated from the Consolidated Revenue
Fund;
(b) revenues obtained from any fees charged by the
BELTRAIDE for the provision of its services;
(c) grants from international, regional or local funding
agencies;
(d) any other monies lawfully contributed, donated, or be-
queathed to the BELTRAIDE from any other source.
19. The BELTRAIDE may, in connection with any service it is requested
to provide by virtue of the provisions of this Act, charge fees from, or make
other financial arrangements with, the person requesting the service.
20. The expenses of the BELTRAIDE, including the remuneration of
directors and staff thereof, shall be paid out of its annual approved budget.
21.-(1) The BELTRAIDE shall, in such form and by such dates as may be
prescribed by the Financial Secretary, prepare and submit to the Minister of
Finance, through the Minister, estimates of revenue and expenditure
(including any supplementary estimates) for each financial year and the
Minister of Finance shall present the said estimates to the National Assembly
with such amendments, if any, as he may consider necessary.
(2) Except with the approval of the Minister of Finance, no further
sum shall be expended in any financial year other than that provided in the
budget relating to such financial year.
22.-(1) The BELTRAIDE shall keep accounts and other records in relation
to its business and shall prepare annually a statement of accounts in
accordance with the generally accepted accounting principles.
Fees for services.
Expenses of the
BELTRAIDE.
Submission of
budget estimates.
Accounts and
audits.
(2) The BELTRAIDE shall, with the approval of the Minister of
Finance, open and maintain, at such bank or banks as it may from time to
time determine, accounts for the funds of the BELTRAIDE.
(3) All accounts of the BELTRAIDE shall be audited annually by
an auditor appointed by the Board, with the approval of the Minister of
Finance.
23.-(1) Within four months after the end of each financial year, the
BELTRAIDE shall cause to be made and shall submit to the Minister:-
(a) a statement of its accounts audited in accordance with
section 22 (2); and
(b) a report dealing generally with the proceedings, policies
and performances of the BELTRAIDE during that
financial year.
(2) The Minister shall cause a copy of such report, within three
months of receiving it, together with the annual statement of accounts and
the auditor’s report thereon, to be tabled in the National Assembly.
PART VI
Miscellaneous
24. No acts done or proceedings taken under this Act shall be
questioned or invalidated on the grounds:-
(a) of the existence of any vacancy in the membership, or
of any defect in the constitution, of the Board; or
(b) of any omission, defect or irregularity.
Annual report.
Validity of Board’s
acts.
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25. (1) The BELTRAIDE shall be exempt from the payment of income tax,
property tax, import duty and any other tax or impost levied by the
Government or a local authority.
(2) All instruments executed by or on behalf of the BELTRAIDE
shall be exempt from stamp duty.
26. (1) The Board may, with the approval of the Minister, make regulations
generally for the better carrying out of the objects and purposes of this Act.
(2) Without prejudice to the generality of subsection (1), such
regulations may provide for all or any of the following:-
(a) the various services provided by the BELTRAIDE ; and
(b) the level of fees charged by the BELTRAIDE when
requested to perform a service by a specific person.
_____________
Exemption from
income tax,
property tax,
stamp duty and
import duty.
Regulations.
