Ministry of Finance Act

Published: 1964-01-07

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Ministry of Finance Act

[Original Service 2001] STATUTE LAW OF THE BAHAMAS





1. Short title.
2. Interpretation.
3. Minister’s staff.
4. Treasurer to be a corporation sole.
5. Treasurer holding public land.


[Original Service 2001] STATUTE LAW OF THE BAHAMAS


An Act to make further provision for the administration

of the finances of The Bahamas.
[Assent 20th December, 1963]

[Commencement 7th January, 1964]
1. This Act may be cited as the Ministry of Finance

2. In this Act, unless the context otherwise requires-
“Minister” means the Minister of Finance.
3. The Minister shall have such staff comprising a

Permanent Secretary, a Treasurer, a Comptroller of
Customs and such other officers as may from time to time
be authorized by Parliament.

4. (1) The Treasurer for the time being shall be a
corporation sole by the name of the Treasurer or such other
style and title as the Governor-General may from time to
time assign to him with power to acquire, hold and dispose
of property, enter into contracts, to sue and be sued and do
all things necessary for the purposes of this or any other
Act and all property transferred to him by this or any other
Act or which otherwise becomes vested in him shall be
held by him in trust for Her Majesty in right of Her
Government of The Bahamas for public purposes.

(2) Upon and by virtue of the appointment of any
person to be Treasurer, the benefit and burden of all deeds,
contracts bonds, securities and things in action vested in
his predecessor at the time of his predecessor ceasing to
hold office shall be transferred to and vested in and enure
to the person so appointed in the same manner as if he had
been contracted with instead of his predecessor and as if
his name had been inserted in all such deeds, contracts,
bonds or securities instead of the name of his predecessor.

38 of 1963
21 of 1973
E.L.A.O., 1974

Short title.

E.L.A.O., 1974.

Minister’s staff.

Treasurer to be a
corporation sole.


STATUTE LAW OF THE BAHAMAS [Original Service 2001]

(3) Upon the date of the coming into operation of
this Act, the Treasurer shall cease to be a corporation sole
under the provisions of the Treasurer Corporation Sole Act
and any mortgages or any other security for the repayment
of sums of money advanced by The Bahamas to other
parties, or of money due and payable to The Bahamas by
other parties which at such date vested in the Treasurer
under that Act shall on and after that date vest in the
Treasurer as a corporation sole by virtue of this Act.

5. (1) Where, by an Act or otherwise, any land is or
becomes vested in the Treasurer, he shall, subject to any
express provision to the contrary contained in any Act,
hold the land in trust for Her Majesty in right of Her
Government of The Bahamas for the public purposes of
The Bahamas.

(2) Where any land vested in the Treasurer is
occupied, used or administered by any department of the
Government and it is in the public interest that members of
the public should be granted leases of or licences to occupy
that land or any portions thereof, the Treasurer may, with
the approval of the Minister, delegate the power to lease or
grant licences to occupy such land to the Minister for the
time being charged with the responsibility of administering
such department or to any officer thereof as such Minister
may decide.

(3) Notwithstanding the other provisions of this
section —

(a) the Treasurer shall not sell or make any other
disposition of the fee simple of any land vested
in him without the prior approval of both
Houses of Parliament signified by resolution
thereof; and

(b) neither the Treasurer nor any Minister or officer
to whom the Treasurer may have delegated
powers under subsection (2) of this section shall
lease any land vested in the Treasurer or grant
any licence to occupy any such land for a term
exceeding three years without the prior approval
of the Governor-General.

19 of 1926.

holding public

E.L.A.O., 1974.