Freeport, Grand Bahama Act


Published: 1993-12-31

Subscribe to a Global-Regulation Premium Membership Today!

Key Benefits:

Subscribe Now for only USD$20 per month, or Get a Day Pass for only USD$4.99.
Freeport, Grand Bahama Act
FREEPORT, GRAND BAHAMA [CH.30 – 1


––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––
LRO 1/2002 STATUTE LAW OF THE BAHAMAS

FREEPORT, GRAND BAHAMA


CHAPTER 30

FREEPORT, GRAND BAHAMA

LIST OF AUTHORISED PAGES

1 LRO 1/2002
2 Blank
3 – 4 LRO 1/2002
5 – 7 Original


ARRANGEMENT OF SECTIONS

SECTION

1. Short title.
2. Conclusion of Agreement.
3. Affixation of Public Seal.
4. Force of law.

SCHEDULE


[CH.30 – 2 FREEPORT, GRAND BAHAMA



FREEPORT, GRAND BAHAMA [CH.30 – 3



––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––
LRO 1/2002 STATUTE LAW OF THE BAHAMAS

FREEPORT, GRAND BAHAMA

CHAPTER 30

FREEPORT, GRAND BAHAMA
An Act to authorise the entering into of an

agreement with the Grand Bahama Port Authority
Limited and the Grand Bahama Development
Company Limited for the carrying out by them of
certain developmental works in the Freeport area and
to continue in that area the exemption from real
property tax for a period of twenty-two years.

[Commencement 31st December, 1993]
1. This Act may be cited as the Freeport, Grand

Bahama Act, 1993.
2. The Governor-General is hereby authorised at

any time within six months after the coming into operation
of this Act to enter into an agreement, substantially in the
form set out in the Schedule with the Grand Bahama Port
Authority Limited and the Grand Bahama Development
Company Limited, both being companies incorporated
under the statute laws of The Bahamas.

3. The Public Seal of the Commonwealth of The
Bahamas shall be affixed to the said agreement.

4. Clause 2 of the Agreement shall subject to
clause 3 thereof have the force of law.

35 of 1993
15 of 1994

Short title.

Conclusion of
Agreement.
15 of 1994, s. 2.

Affixation of
Public Seal.

Force of law.

CH.30 – 4] FREEPORT, GRAND BAHAMA




STATUTE LAW OF THE BAHAMAS LRO 1/2002

SCHEDULE (Section 2)
The Commonwealth of The Bahamas
New Providence.
This AGREEMENT made the ................ day of ................, 1994
BETWEEN his Excellency Sir Clifford Darling, Governor-
General acting for and on behalf of the Government of the
Commonwealth of The Bahamas (who and whose successors in
office for the time being are hereinafter included in the term
“Government”) of the one part
AND the Grand Bahama Port Authority Limited and the Grand
Bahama Development Company Limited, both being companies
incorporated under the statute laws of The Bahamas and
carrying on business within The Bahamas (hereinafter referred
to as “the Companies” which expression where the context
admits shall include their respective assigns) of the other
WHEREAS —
(A) The Government and the Grand Bahama Port Authority

entered into three Agreements dated the 4th day of August,
1955, the 11th day of July, 1960 and the 1st day of March,
1966, respectively whereby for a period of thirty-five (35)
years from the 4th day of August, 1955 no real property
taxes or rates and no real property levies (whether capital
or periodic) of any kind shall be levied, charged or
collected by the Government within the Port Area or upon
or against any Land, building or structure within the Port
Area as defined in the aforementioned Agreement dated 4th
August, 1955.

(B) By the Hawksbill Creek, Grand Bahama (Deep Water
Harbour and Industrial Area) (Extension of Tax Exemption
Period) Act, 1992 the aforementioned exemption period of
thirty-five (35) years that ended on the 4th day of August,
1990 was extended until the 4th day of August, 1993.

(C) The Government is satisfied that it is desirable for the
purposes of encouraging and facilitating further development
on the Island of Grand Bahama with the accompanying
creation of employment opportunities on the Island of Grand
Bahama that there should continue to be enjoyed within the
said Port Area the aforementioned exemption from real
property tax for a further period of twenty-two (22) years
from the 4th day of August, 1993 in consideration of the
Companies undertaking to carry out in a timely manner
certain works of development in the Port Area.

FREEPORT, GRAND BAHAMA [CH.30 – 5



––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––
[Original Service 2001] STATUTE LAW OF THE BAHAMAS

NOW THIS AGREEMENT made in consideration of its
premises WITNESSETH as follows —

1. The Companies covenant with the Government that
unless prevented from so doing by Act of God, insurrection, riot,
civil commotion, war or warlike operations, strikes, lockouts,
force majeure, or any unforeseen or extraordinary circumstances
which may reasonably be considered to be beyond the control of
the Companies they shall jointly and severally carry out or cause
to be carried out on their behalf in an efficient diligent and
timely manner the several works and undertakings set out in the
Schedule.

2. That for a period of twenty-two (22) years from the 4th
day of August, 1993 no real property taxes or rates and no real
property levies (whether capital or periodic) of any kind shall be
levied, charged or collected by the Government within the Port
Area or upon or against any land, building or structure within
the Port Area.

3. (1) It is hereby mutually agreed that if the Companies
shall fail to carry out and complete any of the works or
undertakings on their part contained in the Schedule pursuant to
their covenant under clause 1 the exemption granted under
clause 26 shall cease unless the Government and the Companies
otherwise in writing agree.

(2) Where no date is specified in the Schedule for the
carrying out of a work or undertaking the Government shall give
notice in writing to the Companies requiring them to remedy
their neglect within 30 days and where the Government is
satisfied that the neglect persists after the expiration of the
period the Government shall by further notice specify the
continued neglect and thereupon as from the date of that further
notice the exemption conferred by clause 2 shall cease.

4. For the purposes of this Agreement “Port Area” has the
same meaning as that given to the expression for the purposes of
the Agreements set out in Chapters 261 and 262 of the 2000
Statute Laws of The Bahamas.

5. This Agreement shall be construed and interpreted
according to the Laws of The Bahamas.

CH.30 – 6] FREEPORT, GRAND BAHAMA




STATUTE LAW OF THE BAHAMAS [Original Service 2001]

SCHEDULE (Clause 1)
WORKS AND UNDERTAKING

1. Build and complete with appropriate landscaping at a
minimum cost of two million dollars a centre for the
administration of justice comprising facilities for the
accommodation of the sittings of the Supreme Court and
Magistrates Court.

2. Contribute by way of two equal instalments the first to be
made by the 15th February, 1994 and the other by 1st
August, 1994 the sum of seven million dollars towards the
construction of facilities for two high schools to be built by
the Government on mutually agreed sites in the Port Area
that are to be donated by the Companies.

3. Make an annual payment to the Treasurer for the purpose
of defraying the administrative expenses incurred by the
Government in the Port Area of the sum of Five hundred
thousand dollars for a period of five years and to carry out
with the Government a review in the fifth year of this
undertaking.

4. Fund the construction and completion, in the Port Area by
1996 of a children’s library and thereafter to maintain the
facility in a reasonable manner.

5. Fund the construction and establishment by 1995 of an arts
and crafts teaching centre and thereafter undertake the
maintenance of the centre in the Port Area.

6. Construct a modern multi-purpose sports track and field
facility, including a regulated athletic track, on land in the
Port Area by 1996.

7. Construct within ninety (90) days of the signing of this
Agreement a fruit, vegetables and fish vendors’ complex on
the grounds of the existing produce exchange cost of which
to be equally borne between the Government and the
Companies.

8. Assume by the end of the year 1996 the responsibility for
and the upgrading of the existing potable water distribution
system to Eight Mile Rock and to the western settlements
of Grand Bahama.

9. Promote home porting and container port facility at
Freeport Harbour.

10. Construct or cause to be constructed beachfront cottages to
promote second home investment in the Port Area.

11. Assist in the creation of local Government in Grand
Bahama.

12. Donate land within the Port Area for a new and adequate
hospital in Grand Bahama.

FREEPORT, GRAND BAHAMA [CH.30 – 7



––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––
[Original Service 2001] STATUTE LAW OF THE BAHAMAS

13. Promote the development of an International University.
14. Carry out measures that are necessary to address erosion of

public beaches in Grand Bahama.
15. Conduct a feasibility study to determine water allocation

for development purposes in the Port Area.
16. Introduce additional environmental frameworks for

development.
17. Update the Master Land Use plan for the Port Area.
18. Establish an organization to promote Grand Bahama

internationally.
19. Upgrade Freeport into a garden city in keeping with the

Government’s “Beautiful Bahamas Programme”.
20. Assume responsibility for the maintenance and upkeep of

Queens Highway in the Port Area that is from the High
Rock Settlement to Eight Mile Rock.

21. Donate adequate land for a Police Headquarters in the Port
Area.