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North Ambergris Caye Development Corporation Act


Published: 2000

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CAP. 284, NORTH AMBERGRIS CAYE DEVELOPMENT CORPORATION ACT BELIZE

NORTH AMBERGRIS CAYE

DEVELOPMENT CORPORATION ACT

CHAPTER 284

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

NORTH AMBERGRIS CAYE

DEVELOPMENT CORPORATION ACT 6

Amendments in force as at 31st December, 2000.

BELIZE

NORTH AMBERGRIS CAYE

DEVELOPMENT CORPORATION ACT

CHAPTER 284

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

NORTH AMBERGRIS CAYE

DEVELOPMENT CORPORATION 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.

North Ambergris Caye Development Corporation [CAP. 284

[ ]

3

CHAPTER 284

NORTH AMBERGRIS CAYE

DEVELOPMENT CORPORATION

ARRANGEMENT OF SECTIONS

PART I

Preliminary

1. Short title.

2. Interpretation.

PART II

Establishment, Objects and Functions of the Corporation

3. Establishment of North Ambergris Caye Development Corporation.

4. Share capital, subscription for shares.

5. Board of Directors.

6. Procedure at meetings.

7. Functions of the Corporation.

8. Development functions.

9. Disposal of land by Corporation.

10. Power of Corporation to make by-laws for development functions.

11. Housing.

12. Recovery of possession of premises let by the Corporation.

13. Contributions by the Corporation towards expenditure in relation to,

and for the provision of, amenities.

14. Municipal functions.

15. Power of the Corporation to make by-laws relating to municipal

functions.

16. General municipal powers as to streets, etc.

17. Corporation may recover expenses for repairs to streets damaged by

excessive weights, etc.

18. Penalties for injuries to streets, etc.

19. Duty to fence or repair fences in certain cases.

20. Rates.

PART III

Management and Staff

21. Appointment of General Manager and other officers.

22. Delegation of functions.

23. Regulations relating to staff.

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24. Training of employees.

PART IV

Financial Provisions

25. Transfer of property.

26. Loans by Government.

27. Classification of revenues.

28. Application of revenues.

29. Reserve Fund.

30. General duty of Corporation as to finance.

31. Financial and accounting procedures.

32. Borrowing powers.

33. Loans may be secured by mortgage.

34. Repayment of, and interest on, sums issued to meet guarantees.

35. Investment of funds.

36. Submission of budget estimates.

37. Accounts and audit.

38. Annual Report.

PART V

Miscellaneous

39. Protection of members of the Board.

40. Application of Public Authorities Protection Act.

41. Service of documents.

42. Exemption from taxes.

SCHEDULE

CHAPTER 284

NORTH AMBERGRIS CAYE DEVELOPMENT CORPORATION1

[16th August, 1991]

PART I

Preliminary

1. This Act may be cited as the North Ambergris Caye Development

Corporation Act.

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

1 This Act was not yet in force by 31st December, 2000.

Short title.

Interpretation.

25 of 1991.

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North Ambergris Caye Development Corporation [CAP. 284

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“Board” means the Board of Directors of the Corporation established under

section 5 of this Act;

“Chairman” means the Chairman of the Board of Directors appointed under

section 5 of this Act;

“Corporation” means the North Ambergris Caye Development Corporation

established under section 3 of this Act;

“financial year” in relation to the Corporation, means the period of twelve months

ending on the 31st day of March inclusive;

“functions” include powers and duties;

“General Manager” means the person holding the office of General Manager

pursuant to section 21 of this Act;

“Minister” means the Minister for the time being charged with the responsibility

for Finance;

“North Ambergris Caye” means the area described in the Schedule hereto, or

such other area as the Minister may from time to time prescribe by Order

published in the Gazette;

“shareholder” means a shareholder in the Corporation.

PART II

Establishment, Objects and Functions of the Corporation

3.-(1) There is hereby established a body to be called the North Ambergris

Caye Development Corporation which shall be a body corporate with perpetual

succession and a common seal with power to purchase, take, hold and dispose

of land and other property of whatever kind, to enter into contracts, to sue and

Establishment of

North

Ambergris Caye

Development

Corporation.

be sued in the said name and to do all things necessary for the purposes of this Act.

(2) The seal of the Corporation shall be affixed to any instrument

in the presence of the Chairman, but shall not be so affixed except by the

authority of a resolution of the Board, and shall be authenticated by the joint

signatures of one director of the Corporation and of the General Manager.

(3) The seal of the Corporation shall be kept in the custody of the

General Manager.

(4) Every document purporting to be an instrument issued by the

Corporation and sealed with the seal of the Corporation and authenticated in

the manner provided in this section shall be received in evidence and be deemed

to be such an instrument without further proof unless the contrary is shown.

4.-(1) Subject to this section, the authorised share capital of the Corporation

shall be three million dollars divided into ordinary shares of the par value of ten

dollars each.

(2) The Minister may from time to time by Order published in the

Gazette vary the share capital of the Corporation.

(3) The Government of Belize may subscribe for the three hundred

thousand shares mentioned in subsection (1), or such other number as the

Minister may from time to time determine.

(4) Any person may subscribe for and hold shares in the

Corporation subject to rules as may be made by the Board with the approval

of the Minister in that behalf.

(5) The liability of any shareholder shall be limited to the amount

unpaid on his shares.

Share capital,

subscription for

shares.

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5.-(1) There shall be a Board of Directors which shall consist of a Chairman

and such other persons being not less than seven in number as the Minister may

appoint, of whom the following shall be ex officio members:-

(a) Financial Secretary or his representative;

(b) Permanent Secretary, Ministry of Natural Resources or his

representative;

(c) Permanent Secretary, Ministry of Tourism or his representative.

(2) The Minister shall appoint the Chairman.

(3) If any director dies, resigns or is removed from office, the

vacancy caused thereby shall be filled by a new appointment made by the

Minister.

(4) If any director is temporarily absent from Belize or is temporarily

incapacitated through illness or for any other sufficient reason from performing

his duties as a director, another person may be appointed in his place by the Minister.

(5) A director, other than an ex officio director, shall hold office

for such period not exceeding three years as may be specified in his instrument

of appointment, but such member shall be eligible for reappointment.

(6) A member of the Board, other than an ex officio member, may

at any time resign his office by instrument in writing addressed to the Chairman,

who shall forthwith cause it to be forwarded to the Minister.

(7) The Minister may at any time for good and sufficient cause

revoke the appointment of a member of the Board, other than an ex officio

member, if he thinks it expedient so to do.

(8) The appointment, removal, death or resignation of a member

Board of

Directors.

of the Board shall be published in the Gazette.

6.-(1) The Chairman shall preside at all meetings of the Board, but in his

absence the members present may elect one of their number to act as Chairman

at that meeting.

(2) The quorum at all meetings of the Board shall be five members.

(3) The Board may act notwithstanding a vacancy among its

members.

(4) All questions coming or arising before a meeting of the Board

shall be decided by a majority of the members present and voting thereon at

the meeting and in the case of an equality of votes the person presiding shall

have a second or casting vote.

(5) (a) A member of the Board who is in any way directly or indirectly

interested in a contract made or proposed to be made by the Board shall, as

soon as possible after the relevant circumstances have come to his knowledge,

disclose the nature of his interest at a meeting of the Board.

(b) Any disclosure made under subparagraph (a) of this sub-

section shall be recorded in the minutes of the Board and the

member-

(i) shall not take part after the disclosure in any

deliberation or decision of the Board with respect to

the contract; and

(ii) shall be disregarded for the purpose of constituting a

quorum of the Board for any such deliberation or

decision.

(6) The General Manager shall attend all meetings of the Board,

Procedure at

meetings.

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but shall have no right of vote.

(7) Subject to the provisions of this Act, the Board may regulate

its own procedure.

7. The functions of the Corporation shall include-

(a) securing the proper development of North Ambergris Caye

under the provisions of this Act (hereinafter referred to as

“development functions”);

(b) exercising such other functions relating to North Ambergris Caye

as may be conferred upon the Corporation under the provisions

of this Act (hereinafter referred to as “municipal functions”).

8.-(1) Development functions relating to North Ambergris Caye may include-

(a) infrastructural development;

(b) development of residential communities;

(c) development of commercial tourist facilities and amenities,

including hotels and marinas;

(d) provision of shops, parks, playgrounds and sports facilities;

(e) ecological reservations and protection of the environment;

(f) establishment of wild life reserves and preservation of

archaeological sites;

(g) acquiring, holding, managing and disposing of land and other

property;

Functions of the

Corporation.

Development

functions.

(h) carrying on building and other operations;

(i) carrying on any business or undertaking in or for the purposes

of North Ambergris Caye;

(j) making of loans or grants to persons for housing or business

purposes, including the purchase of land for such purposes;

and

(k) generally doing anything necessary or expedient for the

development of North Ambergris Caye or for purposes

incidental thereto.

(2) The functions of the Corporation under this Act shall be without

prejudice to the powers and functions of the Central Housing and Planning

Authority under the Housing and Town Planning Act or any regulations made

thereunder.

(3) It shall be the duty of the Corporation to carry out its

development functions in accordance with the provisions of this Act and the

proposals approved by the Minister.

9.-(1) Subject to any directions given by the Minister, the Corporation may

dispose of any land vested in it or acquired by it for the purposes of this Act,

to such persons, in such manner and subject to such covenants or conditions

as the Corporation consider expedient for securing the development of North

Ambergris Caye:

Provided that the Corporation shall not have power, except with the

consent of the Minister, to transfer the freehold in any land or to grant a lease

of any land for a term of more than ninety-nine years.

(2) The powers of the Corporation with respect to the disposal

of land acquired by it under this Act shall be so exercised as to secure, so far

CAP. 182.

Disposal of land

by Corporation.

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as practicable, that persons who were living or carrying on business or other

activities on land so acquired shall, if they desire to obtain accommodation on

land belonging to the Corporation, and are willing to comply with any

requirements of the Corporation as to its development and use, have an

opportunity to obtain thereon accommodation suitable to their reasonable

requirements on terms settled with due regard to the price at which any such

land has been acquired from them.

(3) In this Act, disposal of land shall be construed as references to

the disposal in any manner, whether by way of sale, exchange or lease or by the

creation of any easement, right or privilege or otherwise, but shall not be

construed as disposal of land by way of gift.

10.-(1) The Corporation, in the exercise of its development functions and in

addition to its power to make by-laws in respect of its municipal functions as

provided in section 15, may make by-laws, subject to confirmation by the

Minister, for the management, regulation, protection or preservation of any

property vested in it or in its custody or any undertaking carried on by it.

(2) The Minister may authorise persons employed by the

Corporation to enforce by-laws made by the Corporation under this section

and to take all steps, and do all acts and things, necessary for that purpose.

(3) A person who -

(a) acts in contravention of any by-laws made under this section;

or

(b) obstructs any person authorised under subsection (2),

commits an offence and shall be liable on summary conviction to a fine not

exceeding five hundred dollars, and in the case of a continuing offence, to a

further fine not exceeding twenty-five dollars for each day.

Power of

Corporation to

make by-laws

for development

functions.

11. Where, in the exercise of its development functions, the Corporation

provides rented housing accommodation, the rent to be charged therefor shall

be of such amount as the Corporation consider fit.

12. On the termination of the tenancy of any premises let by the Corporation

in the exercise of its development functions, possession of the premises may

(without prejudice to any other method of recovery) be recovered by the

Corporation in a summary manner under Part V of the Landlord and Tenant

Act, whatever may be the rent or term of the tenancy.

13.-(1) Without prejudice to the generality of the powers conferred on the

Corporation by any other provision of this Act, the Corporation may with the

consent of the Minister, contribute such sums as the Corporation may determine-

(a) towards expenditure incurred or to be incurred by any

government department or any local or public body or

voluntary body in the performance in relation to North

Ambergris Caye of any of its functions, including expenditure

so incurred in the acquisition of land; or

(b) by way of assistance towards the provision of amenities for

the North Ambergris Caye.

(2) In this section, “voluntary body” means any body of persons,

whether corporate or incorporate, carrying on or proposing to carry on an

undertaking otherwise than for profit.

14. The Corporation is hereby entrusted with the good government and

administration of North Ambergris Caye and is hereby vested with the power

and authority to provide or cause to be provided all or any of the following

municipal functions -

(a) to establish, regulate, control, maintain and manage markets

and slaughterhouses;

Recovery of

possession of

premises let by

the Corporation.

CAP. 189.

Contributions by

Corporation

towards

expenditure in

relation to, and for

the provision of,

amenities.

Municipal

functions.

Housing.

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(b) to impose rents and fees upon persons using or benefitted by

the use of such markets and slaughter-houses;

(c) to impose such restrictions upon owners of land as may be

necessary to prevent any building upon such land from being or

becoming a source of danger to surrounding property whether

from fire or from its insecure construction or dilapidated

condition;

(d) to undertake the marking and numbering of lots, houses,

buildings and yards for the purpose of distinguishing the same;

(e) to establish, maintain and control parks, gardens, squares and

open places;

(f) to establish, maintain and control cemeteries;

(g) to undertake and carry out, without prejudice to the powers of

the Water and Sewerage Authority, works in connection with

water supply, drainage and disposal of sewage and the collection

and disposal of refuse;

(h) to erect and maintain any building required for public purposes;

(i) subject to the approval of the Minister, to manage and dispose

of any lands, buildings or other property acquired or owned by

the Corporation for public purposes; and

(j) to do all such other things or matters for the purpose of increas-

ing the convenience and amenity of North Ambergris Caye.

15.-(1) The Corporation may from time to time make by-laws subject to

confirmation by the Minister -

Power of

Corporation to

(a) for the licensing of horses, mules, carriages, carts, drays and

handcarts, (except such as are kept by the Government or by

the San Pedro Town Board) kept or used in North Ambergris

Caye and the imposition of fees in respect thereof:

Provided that the Corporation may in any such by-laws provide

for the exemption from any requirement in respect of licensing

and from the payment of the whole or part of any fee payable

therefor by the owner of any horse, mule, cart, dray or handcart

which is certified by the Minister to be used wholly or partially

for the public service;

(b) for the licensing of drivers of carriages, carts and drays and

the imposition of fees in respect thereof;

(c) for preventing animals from being brought into North Amber-

gris Caye except at such place or places as may from time to

time be prescribed and for the provision of public pens for

animals and for the imposition of fees and regulations in

respect of the user thereof;

(d) for regulating the passing of live-stock through the streets with

power to specify the streets through which such stock shall be

allowed to pass, the time of such passing, and the method of

leading or driving such stock;

(e) for the establishment and the control and use of public

conveniences;

(f) for regulating the distance from any building at which it shall

be lawful to construct any other building;

(g) for regulating the construction as to dimensions and materials

of the walls of building within the whole or any part of North

Make by-laws

relating to

municipal

functions.

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Ambergris Caye;

(h) for regulating the construction and materials of roofs, fire-places

and furnaces in buildings of every description and for the

prevention of fires;

(i) for regulating the construction of chimneys to carry away the

smoke from fire-places and furnaces of any kind and for insuring

protection from sparks therefrom and for the prevention of

nuisances from smoke;

(j) for regulating the erection of temporary structure;

(k) for the establishment, regulation, control, maintenance and

management of markets and slaughter-houses;

(l) for regulating the lighting of places, streets, markets and other

buildings under the control of the Corporation;

(m) for prohibiting, except in the case of wild animals which may

lawfully be shot in the bush, the killing or slaughtering of any

animal the flesh of which is intended for human food in any

place within, or within one mile beyond the limits of North

Ambergris Caye other than in a slaughter-house provided by

the Corporation;

(n) for prohibiting the exposing or exhibiting for sale the flesh of

any animal in any place within, or within one mile beyond the

limits of North Ambergris Caye other than in the market or

such place or places as the Corporation may appoint;

(o) for the regulation of parks, gardens and public recreation

grounds;

(p) for the regulation of cemeteries and interments therein; and

(q) generally for all matters connected with the development and

the rule and good government of North Ambergris Caye and

the proper carrying out of the provisions of this Act.

(2) The Minister may authorise persons employed by the

Corporation to enforce by-laws made by the Corporation under this section

and to take all steps, and do all acts and things, necessary for that purpose.

(3) A person who -

(a) acts in contravention of any by-laws made under this section; or

(b) obstructs any person authorised under subsection (2),

commits an offence and shall be liable on summary conviction to a fine not

exceeding five hundred dollars, and in the case of a continuing offence, to a

further fine not exceeding twenty-five dollars for each day.

16.-(1) All streets, in which term is included public drains and sidewalks,

within the boundaries of North Ambergris Caye shall be under the control,

care and management of the Corporation pursuant to its municipal functions.

(2) The Corporation shall have power in respect of any street to

do any of the following things -

(a) to lay out, construct, repair, alter or widen any street with such

materials and in such manner as the Corporation thinks fit;

(b) to make surveys for the laying out of new streets;

(c) to determine what part of a street shall be a carriage-way and

what part a foot-way only;

General municipal

powers as to

streets, etc.

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(d) to alter the level of any street;

(e) to stop temporarily the traffic on any street or part thereof while

such street is being constructed or repaired;

(f) to plant trees in any street and erect tree guards to protect the

same;

(g) to provide for the naming, numbering and lighting of places and

streets.

17. Where the Corporation incurs extraordinary expenses in repairing a

street by reason of damage caused by excessive weight passing along the same

or extraordinary traffic thereon, the Corporation may recover such expenses

from any person by whom or by whose order such weight or traffic has been

conducted, as a debt.

18. Every person who, not being authorised by the Corporation or by any

Act -

(a) encroaches on a street by making or erecting any building, fence,

ditch, or other obstacles or work of any kind upon, over or

under the same or planting any tree or shrub thereon;

(b) places or leaves on a street any timber, earth, stones or other

things;

(c) digs up, removes or alters in any way the soil or surface or

scraping of a street;

(d) allows any water, tailings or sludge or any filthy or noisome

matter to flow from any building or land in his occupation on to

a street;

Corporation may

recover

expenses for

repairs to streets

damaged by

excessive

weights, etc.

Penalties for

injuries to

streets, etc.

(e) causes or permits any timber or other heavy material not being

wholly raised above the ground on wheels to be dragged on a

street;

(f) causes or negligently allows any retaining-wall, foundation-

wall or fence erected on any land or slope of earth or any

building, erection, material or thing to give way or fall so as to

injure or obstruct any street;

(g) does or causes or permits to be done any act whatsoever by

which any injury is done to any street or any work or thing in,

or under the same; or

(h) defaces, obliterates or removes any number, mark or name

painted or affixed on any lot, house, building, street or square,

commits an offence and shall be liable on summary conviction to a fine not

exceeding five hundred dollars and to a further sum equal to the costs incurred

by the Corporation in removing any such encroachment, obstruction or matter,

or in repairing any injury done:

Provided that no penalty shall be imposed unless the information or

complaint is laid by authority of the Corporation or some officer thereof.

19. If any land adjoining any street within the boundaries of North

Ambergris Caye is allowed to remain unfenced or if the fences of any such

land are allowed to be or remain out of repair and such land is, owing to the

absence or inadequate repair of any such fence, a source of danger to

passengers, or is used for any immoral or indecent purpose, or for any purpose

causing inconvenience or annoyance to the public, the Corporation may, at

any time after the expiration of fourteen days from the service upon the owner

or occupier of notice in writing by the Corporation requiring the land to be

fenced or any fences on the land to be repaired, cause the land to be fenced or

may cause the fences to be repaired in such manner as it thinks fit, and the

Duty to fence or

repair fences in

certain cases.

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reasonable expenses thereby incurred shall be recoverable from such owner or

occupier summarily as a civil debt.

20. The Minister may on such terms and conditions as may seem to him

appropriate by instrument under his hand settle, impose and levy upon real

property and holdings of real property within the boundary of the North

Ambergris Caye rates and other municipal charges:

Provided that such instrument shall be laid before the National Assembly

as soon as may be after the making thereof and shall be subject to negative

resolution.

PART III

Management and Staff

21.-(1) The Corporation shall, with the approval of the Minister and on such

terms and conditions as the Minister may determine, appoint a fit and proper

person to be the General Manager of the Corporation.

(2) The General Manager shall be the chief executive officer of the

Corporation and shall be responsible to the Corporation for -

(a) the day to day administration of the Corporation’s affairs; and

(b) the provision of technical advice and guidance in matters of

policy.

(3) The Corporation may appoint and employ, at such remuneration

and on such terms and conditions as the Corporation may, with the approval of

the Minister, determine, a secretary and such other officers and servants as may

be necessary for the proper carrying out of this Act.

(4) The Corporation shall have the power to dismiss its officers

Appointment of

General Manager

and other

officers.

Rates.

and servants, except that the General Manager shall not be dismissed without

the prior approval of the Minister.

22.-(1) The Board may by resolution delegate to the Chairman or the General

Manager such of the functions of the Corporation relating to its day-to-day

business as the Corporation may decide.

(2) Nothing herein contained shall authorize the Corporation to

delegate to any person functions to make regulations or to do any act involving

extraordinary expenditure.

23. Subject to the provisions of this Act, the Corporation may make

regulations determining generally the conditions of service of employees of the

Corporation, and in particular may make regulations relating to -

(a) the appointment, dismissal, discipline, hours of work, pay and

leave of such employees;

(b) appeals by such employees against dismissal or other

disciplinary measures;

(c) the grant of pensions, gratuities and other benefits to such

employees and to their other dependants;

(d) the establishment and maintenance of superannuation funds

and provident funds and the contributions payable thereto and

the benefits receivable therefrom.

24. The Corporation may for the purpose of advancing the skills of its

employees provide such assistance and facilities as may be necessary for

training, education and research.

Delegation of

functions.

Regulations

relating to staff.

Training of

employees.

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PART IV

Financial Provisions

25-(1) The Minister may, by Order, transfer to the Corporation any property

belonging to the Government which appears to him to be necessary or useful to

the Corporation for carrying out its functions under this Act, and such property

shall vest in the Corporation by virtue of the order and without further assurance.

(2) An Order under subsection (1) -

(a) may contain such incidental, consequential or supplemental

provisions as the Minister thinks necessary or expedient for

the purpose of the Order;

(b) shall be subject to affirmative resolution of the House of

Representatives.

26. The Government may lend the Corporation such sum as the Minister

certifies is required to enable the Corporation to commence its functions, to be

repaid by the Corporation at such times and by such methods as the Minister

may determine.

27. The revenues of the Corporation shall be classified under the following

heads of receipt:-

(a) dues and charges received by virtue of this Act;

(b) amounts borrowed by the Corporation;

(c) miscellaneous receipts, including interest on and service of

investments,

and such revenues shall, within seven days of receipt thereof, be paid into a

Transfer of

property.

Loans by

Government.

Classification of

revenues.

bank account approved by the Minister.

28.-(1) The revenues of the Corporation shall be applied for the purposes

authorized by this Act in relation to the functions, powers and responsibilities

of the Corporation, and also to meet the following heads of expenditure-

(a) reimbursement to the Government of all sums certified by the

Minister as having been borrowed by the Government for the

purposes of the Corporation and the repayment of which is

outstanding at the commencement of this Act; the arrangements

for reimbursing such sums shall be such as may be determined

by the Minister;

(b) repayment of overdraft, if any, on current accounts;

(c) interest on loans;

(d) sinking fund on loan redemption;

(e) payment to the Government of any consideration for the

transfer of property provided by section 26;

(f) repairs and maintenance of buildings and equipment and other

current expenses;

(g) any other expenditure approved by the Minister.

(2) Any excess of the revenues of the Corporation for any financial

year over the total sums chargeable by the Corporation to revenue accounts

for that year, including in such sums (without prejudice to the generality of that

expression) sums credited under the next following section to the reserve fund

of the Corporation, shall be applied by the Corporation in such manner as the

Minister, after consultation with the Chairman of the Board, may direct.

Application of

revenues.

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29.-(1) The Corporation shall establish and maintain a reserve fund to meet

contingencies and for such other purposes as it may think fit.

(2) The management of the said fund, the sums to be carried from

time to time to the credit thereof, the charges to be made against it and any

other application of the moneys comprised therein shall be as the Board may

determine.

30. It shall be the duty of the Corporation as far as practicable in the conduct

of its affairs to seek to secure that its revenues become, at the earliest possible

date and thereafter continue, at least sufficient to meet all sums properly

chargeable to revenue account (including sums required for the payment of

loans and interest thereon, for provision for depreciation and for the establishment

and maintenance of its reserve funds).

31. The Corporation shall establish and maintain sound financial and

accounting procedures and where such procedures relate to the following

matters-

(a) the determining of rates of depreciation;

(b) the establishing of procedures governing reserves, accumulated

surpluses or deficits and the disposal of balances and net

revenue,

they shall be subject to the approval of the Minister.

32.-(1) Subject to this section, the Corporation may borrow sums required by

it for meeting any of its obligations or discharging any of its functions.

(2) The power of the Corporation to borrow shall be exercisable

only with the approval of the Minister as to the amount, as to the sources of the

borrowing and as to the terms on which the borrowing may be effected.

General duty of

Corporation as

to finance.

Financial and

accounting

procedures.

Borrowing

powers.

Reserve fund.

(3) An approval given in any respect for the purposes of

subsection (2) may be either general or limited to a particular borrowing or

otherwise, and may be either unconditional or subject to conditions.

33. The Corporation may, subject to the approval of the Minister, secure

the repayment of any sum borrowed by the Corporation for the purposes of

this Act by the mortgage or charge of any property vested in the Corporation

or of any revenue receivable by the Corporation under this Act.

34. The Corporation shall make to the Accountant General, at such times

and in such manner as the Minister or other person designated by the Minister

may direct, payments of such amounts as may be so directed, in or towards

repayment of any sums issued in fulfillment of any guarantee and payment of

interest on what is outstanding for the time being in respect of any sums so

issued at such rate as the Minister may direct, and different rates of interest

may be directed as respects different sums and as respects interest for different

periods.

35. Any sums in the hands of the Corporation which are not immediately

required by it for the purposes of its business may, with the approval of the

Minister, be invested by it in such manner as its thinks proper.

36.-(1) The Corporation shall, in such form and by such dates as may be

prescribed by the Financial Secretary, prepare and submit to the Minister

estimates of income receivable and the expenditure to be incurred during each

financial year (including any supplementary estimates).

(2) Except with the approval of the Minister, no further sum shall

be expended during any financial year other than that provided in the estimates

relating to such financial year.

37.-(1) The Corporation shall keep proper accounts and other records in

relation to the business of the Corporation and shall prepare annually a statement

of accounts in a form satisfactory to the Minister, being a form which shall

Loans may be

secured by

mortgage.

Repayment of, and

interest on, sums

issued to meet

guarantees.

Accounts and

audit.

Submission of

budget estimates.

Investment of

funds.

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conform with the best commercial standards.

(2) The accounts and records shall be kept in such a manner as to

secure the provision of separate information as respects each of the main activities

of the Corporation and to show, as far as may be, the financial and operating

results of each such activity.

(3) The accounts of the Corporation shall be audited by an auditor

appointed annually by the Corporation with the approval of the Minister.

(4) So soon as the accounts of the Corporation have been audited,

the Corporation shall send the statement of its accounts referred to in sub-

section (1) to the Minister, together with a copy of any report made by the

auditors on that statement or on the accounts of the Corporation.

(5) The auditor’s fees and expenses of the audit shall be paid by

the Corporation.

(6) The Auditor General shall be entitled at all reasonable times to

examine the accounts and other records in relation to the business of the

Corporation and to make such report thereon to the National Assembly as, in

his discretion, he considers should be made.

38.-(1) The Corporation shall, as soon as practicable after the end of each

financial year, cause to be made and transmit to the Minister a report dealing

generally with the activities of the Corporation during the preceding financial

year and containing such information relating to the proceedings and policy of

the Corporation as can be made public without detriment to the interests of the

Corporation.

(2) The Minister shall cause a copy of the report together with the

annual statement of accounts and the auditor’s report thereon to be laid on the

table of both Houses of the National Assembly.

Annual Report.

(3) Copies of the Corporation’s report together with the annual

statement of accounts and the auditor’s report on that statement or on the

accounts of the Corporation shall be published in such manner as the Minister

may direct and shall be made available to the public by the Corporation at a

reasonable price.

PART V

Miscellaneous

39.-(1) No action, suit, prosecution or other proceeding shall be brought or

instituted personally against any member of the Board in respect of any act

done bona fide in pursuance or execution or intended execution of the

Corporation’s functions under this or any other Act.

(2) Where any member of the Board is exempt from liability by

reason only of this section, the Corporation shall be liable to the extent it

would be if the said member was an employee or agent of the Corporation.

40. The Public Authorities Protection Act shall apply to any action, suit,

prosecution or proceeding against the Corporation or against any officer, servant

or agent of the Corporation in respect of any act, neglect or default done or

committed by the Corporation or such person in such capacity under the

provisions of this Act.

41. Any summons, notice or other document required or authorized to be

served on the Corporation under any Act may, unless in any case there is

express provision to the contrary, be served by delivering the same to the

Chairman or the Secretary or by sending it by registered post addressed to

the Chairman or Secretary at the principal office of the Corporation.

42.-(1) The Corporation shall be exempt from income tax and property tax.

(2) All instruments executed by or on behalf of the Corporation

Protection of

members of the

Board.

Application of

Public

Authorities

Protection Act.

CAP. 31.

Service of

documents.

Exemption from

taxes.

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shall be exempt from stamp duty.

SCHEDULE

Definition of North Ambergis Caye

ALL THAT PIECE of land being the Northern portion of Ambergris

Caye bounded on the North by the Mexico-Belize International boundary, on

the South by lands now or formerly Caribbean Coves Ltd. (D. B. Vol. 9 of

1984 Folios 685-698), on the East by a strip of land, being various properties

and cocals and also being part of the original estate of Maria Exaltacion Andrade

De Mendez, and on the West by the Bay of Chetumal, and being more

particularly described as follows:-

Commencing at a point, said point having a U.T.M. ‘SCALED’

coordinate of 1,987,000 metres North and 401,500 metres East; thence grid

West along the Northern boundary of lands now or formerly Caribbean Coves

Ltd. for an approximate distance of 4,500 metres to a point on the Western

shoreline of Ambergris Caye having a scaled U.T.M. coordinate of 1,987,000

metres North and 397,000 metres East; thence Northeasterly along the said

Western shoreline of Ambergris Caye for an approximate distance of 39,700

metres to the confluence of a creek where it meets the Bay of Chetumal, the

said creek forming the International boundary between Belize and Mexico;

thence along the South Bank of the afore-mentioned Creek for an approximate

distance of 1,800 metres to a point, on the Western boundary of lands, being

formerly part of the Estate of Maria Exaltacion Andrade De Mendez, said

lands also forming a strip along the Eastern coastline of Ambergris Caye,

comprising of various properties and cocals; thence Southerly along the Western

boundary of the said strip of land for an approximate distance of 29,000 metres

back to the point of commencement; including a property now or formerly

Robert N. Pinkerton (D. B. Vol. 2 of 1971 Folios 1405 - 1416) comprising of

the peninsulas commonly known as Punta Lemon and San Juan. As well as, all

those offshore cayes in the immediate proximity of the West-coast of the herein

described piece of land, as set out in the following schedules:-

SCHEDULE 1

All those Cayes situate between U.T.M. scaled coordinates 1,998,000

and 1,993,000 metres North, and 398,800 and 401,000 metres East.

SCHEDULE 2

All those Cayes situate between U.T.M. scaled coordinate 2,000,000

and 1,999,500 metres North, and 402,800 and 403,800 metres East.

SCHEDULE 3

All that Caye having a Central U.T.M. scaled coordinate of 1,991,000

metres North and 398,200 metres East.

As shown on “COMPILATION” D. O .S. Sheet No. 7, lodged at

the office of the Commissioner of Lands and Surveys, Belmopan.