|
SAINT VINCENT
GOVERNMENT GAZETTE
I3nblisl Ii bl Anthlriti.
VOL. 103.] SAINT VINCENT, TUESDAY, 14 APRIL, 1970. [No. 24.
GOVERNMENT NOTICES
No. 104.
VACATION LEAVE
The Honourable K. L. GORDON, Jus-
tice of Appeal has been granted 14 days
vacation leave as from 1st April, 1970.
Office of the Judicial &
Legal Services Commission,
St. George's,
Grenada.
April 1, 1970.
No. 105
RESUMPTION OF DUTIES
The Honourable P. CECIL LEWIS,
Justice of Appeal has resumed his duties.
The uniforms consist of long brown
Terylene Truser.- and beige cotton
shirts, long sleeves with two (2) flap
pockets and shoulder straps, and the re-
quirements are for approximately twen-
ty (20) postmen. Samples should be
submitted with the Tender.
Tenders which will be received up to
3 p.m. on Monday 27th April, 1970 must
be sealed and addressed to the Chairman,
Tenders Board, Ministry of Finance,
Kingstown and distinctly marked on the
envelope "Tenders for the supply of
Postmen Uniforms".
The Government does not bind itself
to accept the lowest or any Tender, and
reserves the power of accepting any part
of a Tender.
7th April, 1970.
No. 97.
VACANT POST
Office of the Judicial &
Legal Services Commission,
St. George's,
Grenada.
April 1, 1970.
No. 96.
UNIFORMS FOR POSTMEN
Tenders are invited for supplying
and making Uniforms for Postmen for
the year ending 31st December, 1970.
VACANT POST OF EDUCATION OFFICER
1. Applications are invited from
suitably qualified persons for appoint-
ment to the above post, which is perma-
nent and pensionable and is subject to
medical fitness.
2. The salary of the post is in the
scale $4,884 x $180-$5,604 x $240-
$6,984.
1$4 SAINT VINCENT, TUESDAY, 14 APRIL, 1970.-(No. 24.)
3. The duties of the post will in-
clude:-
(a) School Inspection;
(b) Organisation and direction of
curriculum projects, including
the production of teachers'
guides, notes, etc., covering the
syllabuses step by step, and the
training of serving teachers based
on the curricula that are being
developed.
4. Qualifications:
Applicants should have:-
(a) A good secondary educa-
tion;
(b) Pedagogical qualifications
and experience in the educa-
tion field;
(c) Satisfactory records of ser-
vice.
5. Applications should include copies
of two ((2) testimonials and a Curricu-
lum Vitae and should be forwarded not
later than 20th April, 1970 to:-
The Chief Personnel Officer
Service Commissions Department
Kingstown, St. Vincent.
'7th April, 1970.
No. 106.
SUPPLEMENT TO GAZETTE
Copies of the Minutes of the Eighth
Sitqtig of the First Session of the House
of Assembly held at the Assembly Cham-
ber on the 12th March, 1970 which may
be seen at Government Office, the Kings-
town Library and all Revenue Offices
are published with this issue of the
,Gazette.
14th April, 1970.
No. 107.
LEGISLATION
The undermentioned Act which has
been assented to by His Excellency the
Governor is published with this issue of
the Gazette:-
NO. 14 of 1969.-An Act to provide for
the implementation by the Govern-
ment of Saint Vincent of an Agree-
ment for the establishment and
operation of the Caribbean Develop-
ment Bank, and for purposes con-
nected therewith.
14th April, 1970.
No. 108.
The following Documents are published
with this issue of the Gazette:-
S. R. & 0. No. 18.- Proclamation
bringing into operation the Banana
(Protection and Quality Control)
Act, 1969 (No. 13 of 1969) with
effect from the 14th April, 1970.
S.R. & 0. No. 19.-Scholarships to
Secondary Schools Regulations,
1970.
(SCH/001/02)
S.R. & 0. No. 20.-Government Secon-
dary Schools Regulations, 1970.
By Command,
C. IVOR MARTIN,
Permanent Secretary,
Premier's Office.
PREMIER'S OFFICE,
ST. VINCENT.
14th April, 1970.
DEPARTMENTAL AND
OTHER NOTICES.
ADOPTION BOARD
The Agency, Children Service Centre,
Montreal, is willing to place children in
adoption homes in St. Vincent. The
children are of mixed racial background
and photographs of some of the children
are available.
Interested persons can obtain further
details from the Secretary, Mrs. Zina
Garraway, c/o Registry, Kingstown.
S. A. BROWNE,
Chairman of the Adoption Board.
NOTICE
It is notified for general information
that the undermentioned vehicles will
be offered for sale by Public Auction
at the Public Works Compound, Arnos
Vale on Wednesday 29th April, 1970 at
1.30 p.m.
1. Bedford Dump Truck
Reg. No. T 992
2. Bedford Dump Truck
Reg. No. T1093
3. Chassis only for T1128
4. Bedford Van T 562
5. Morris Van T 501
6. Morris Van T1230
SAINT VINCENT, TUESDAY, 14 APRIL, 1970.-(No. 24.) 185
7. Land Rover T 853
8. Humber Hawk (State Car) -
9. Massey Fergussen-Front
and Iqoader and Swipe.
These vehicles may be seen at the Pub-
lic Works Compound, Arnos Vale on
any working day.
MOULTON V. WILLIAMS,
Permanent Secretary/
Communications, Works & Labour.
2nd April 1970.
NOTICE
CLOSED SEASON FOR LOBSTERS
AND TURTLES
The Public is hereby reminded that in
accordance with the Birds and Fish
Protection Ordinance Cap. 44 as amend-
ed, it is prohibited to kill or take:-
TURTLES
(a) Turtles or turtle eggs on land
(b) Turtles under 20 lbs. in weight
LOBSTERS
(a) Lobsters carrying eggs
(b) Lobsters of less than 1 lb. in
weight
(c) Lobsters of less than nine
inches in length.
Closed Seasons:
There is a closed season for Turtles
between 1st May and 31st July, and a
closed season for lobsters between 1st
May and 30th September.
Any person failing to comply with
the regulations mentioned above, will be
fined $24.00 or in default imprisonment
with or without hard labour for a term
not exceeding 3 months.
Ministry of Agriculture,
Trade & Tourism.
April 8, 1970.
(ATT 366)
WAGES REGULATION PROPOSALS
PROPOSALS ONLY-TO BE POSTED UNTIL 28TH APRIL, 1970
Further notice will be given if a Wages Regulation Order is made giving
effect to the proposals set out hereunder.
WAGES COUNCIL ORDER NO. 1 OF 1970
AGRICULTURAL WORKERS WAGES COUNCIL
The Agricultural Workers Wages Council hereby gives notice of its
intention to submit to Cabinet proposals for fixing Statutory minimum remun-
eration, holidays with pay and overtime specified in the Schedule below.
The Wages Council will consider any written representation with respect
to these proposals sent to it within 14 days from 14th April, 1970. Any such
representation should be SIGNED by the person making the same (giving his
or her address) and sent to the Secretary of the Wages Council.
It is desirable that persons making objections should state precise grounds
for their objections.
Dated this 26th day of March, 1970. Issued by Order of Agricultural
Workers Wages Council.
R. IRVIN SAMUEL,
for Secretary Wages Council.
Department of Labour
Upper Bay Street
KINGSTOWN
186 SAINT VINCENT, TUESDAY, 14 APRIL, 1970.-(No. 24.)
SCHEDULE
MINIMUM REMUNERATION OF AGRICULTURAL WORKERS
1. The minimum rate of remuneration to be paid to workers in the State
of St. Vincent, to whom this order applies shall be
Men ...... $2.40 per day for a day of 8 hours
Women ...... $1.90 per day for a day of 8 hours
MINIMUM REMUNERATION FOR OVERTIME
2. Whenever a worker to whom this Order applies, employed on timework,.
works with the consent of his employer for more than eight hours on any ordinary
day he shall be paid (except as is hereinafter provided) for every hour or part
thereof time and a half, and for all work done on Sundays and Public Holidays,
double time. Provided that this does not apply to stockmen, grooms and workers
employed on the shift system but whose total earnings must not be less than
the daily minimum wage when such earnings are divided by the number of
days worked in the period whether paid on a weekly, fortnightly or monthly
basis.
MINIMUM REMUNERATION FOR WATCHMEN
3. Watchmen employed under this Order shall not receive less than the
daily minimum wage when such earnings are divided by the number of hours
actually worked in the period whether paid on a weekly, fortnightly or monthly
basis.
MINIMUM REMUNERATION FOR PIECE WORK AND TASK WORK
4. The minimum remuneration to be paid to workers, to whom this Order
applies, when employed on piece-work, or task work shall be as follows:-
Digging arrowroot: 41. per basket measuring 28" in diameter and filled
to a height of 14"
Digging peanuts: 300 per kerosene tin filled to the height of the tin
Picking Cotton: S3, per lb. (No. deduction for moisture).
Provided that where a worker is employed on any piece work or task
work the employer shall be deemed to pay wages at less than the minimum
wage unless he shows that the rate for a period of 8 hours was not less than the
minimum wage for a day.
HOLIDAYS WITH PAY
5. Every worker to whom this Order applies shall be entitled to holidays
with pay as follows:-
1. 7 days holidays with pay for 201 days and over worked
2. 6 days holidays with pay for 176-200 days worked
3. 5 days holidays with pay for 151-175 days worked
4. 4 days holidays with pay for 126-150 days worked
5. 3 days holidays with pay for 100-125 days worked.
SAINT VINCENT, TUESDAY, 14 APRIL, 1970.-(No. 24.) 187
CUSTOMS NOTICE
By Authority of Section 27 and 28 of Cap. 183 of the Laws of St. Vincent, the
undermentioned goods which have been in Queens Warehouse No. 2 and the Baggage Ware-
house for over one year shall be sold at Public Auction on Wednesday 22nd April, 1970 at
1.30 p.m. unless they are duly cleared or re-warehoused within one month of the first
publication of this notice.
W. V. YORKE,
for Collector of Customs & Excise.
Custom House,
Kingstown,
4th March, 1970.
QUEENS WAREHOUSE NO. 2
Date
Ware-
housed
Conveyance
Consignee
Marks & Nos.
Quantity & Declared
Description Contents
20.12.65 Sunflower W. J. Abbott
15.11.66 Veloz Corea & Co.
Lasbeck
Sunreck
Themis
Fed. Palm
Geest Bay
Cambria
Factor
Statesman
Nordica
Nordica
Geest Port
Atl. Sun
Discoverer
Atl. Clipper
14 .3.68 Novelist
19. 4.68 Nord Parthner
Atl. Comet
25. 4.68 Atl. Comet
2. 5.68 Sundale
5. 4.68 Joma
4. 6.68 Fed. Maple
Fed. Palm
16. 7.68 Philosopher
18. 7.68 Daphnis
18. 7.68 Daphnis
25. 7.68 Sarah
26. 7.68 O.K. Service
13. 8.68 Fed. Maple
21. 8.68 Linguist
4. 9.68 Adelta A
16. 9.68 Fed. Palm
15. 9.68 Atl. Comet
23. 9.68 Crusader
Re & Co.
W. J. Abbott
Corea & Co.
Corea & Co.
Geest Industries
Corea & Co.
J. II. Hazell
J. H. Hazell
Corea & Co.
Corea & Co.
Geest Industries
J. II. Hazell
J. H. Hazell
J. II. Hazell
J. 1. Hazell
Corea & Co.
J. HII. Hazell
J. H. Hazell
W. J. Abbott
Corea & Co.
Corea & Co.
J. 11. Hazell
Corea & Co.
Corea & Co.
do
J.H.H.
Corea & Co.
J.H.H.
G. A. Forde
Corea & Co.
J.H.H.
do
ESSO
Empire Sales
Agency
R.S.T. St. Vincent
C.B.
Hadaway Store 415
E.D.L. & S 17 #3
E.W.R.A.
ESSO
District Officer
Carriacou
W.J.A.
A.T.C.
F.H.F.E.L.
R.T. St. V.
M.M. 3494
B.B.
G.R.W
C.K.G.
J.H.H.
H.H. 1785
N/M
B.B.
W.I.C.C.L.
C.A.Co. 3229/1-2
Rev. Keys
The Director of
Red Cross
F.J.D.N/W.B.H 4
H.H. 4214/1
N/M
W.B.M.N.
Unity St. V.
E.S.A. S6L
Texaco
B.S.C.
J.G.A. St. Jose
Limon
S.J.K.
S.M. Hales
Peter St. Lucia
1 ctn Merchandise
1 ctn Merchandise
2 es Merchandise
I etn Carrots
1 ctn Rubber belts
1 bale Textile goods
3 etns Glassware
2 ctns Car Parts
1 T 'chest Merchandise
1 ctn
1 ctn
1 bag
1 bale
1 ctn
I ctn
2 ctn
1 ctn
1 ctn
1 drum
I ctn
I bale
1 etn
2 es
5 cs.
5 es.
.8 etns
Shampoo
Ice cream cups
Textile products
Merchandise
Nylon p/e goods
Whole corn
Cotton piece
goods
Dettol
Merchandise
Med. Prep.
Biscuits
Paper bags
Merchandise
Cabinet fittings
Printed matter
Disaster kits
Corrugated
cartons
1 cs Plastic ware
5 etns Merchandise
filtrate
1 cs W/apparel
I bale Flavouring
1 ctn Educational
material
9 drums Lubricating oil
1 ctn Footwear
1 ctn Jam
1 ctn Tuware
(tin ware)
1 T)kg Merchandise
1 bdl Joint Injectors
2.12.66
20. 1.67
26. 1.67
9. 3.67
21. 4.67
23. 6.67
7. 7.67
21. 7.67
4.12.67
4.12.67
9. 1.68
4. 1.68
8. 1.68
17. 1.68
SAINT VINCENT, TUESDAY, 14 APRIL, 1970.-(No. 24.)
QUEENS WAREHOUSE NO. 2 (Conid.)
Date
Ware-
housed
Conveyance
25. 9.68 Christel
Viennen
IS. 9.68 Speedy Queen
15.10.68
28.10.68
24.10.68
12.11.68
5.12 68
10.12.68
5.12.68
26.12.68
27.12.68
9.12.68
Statesman
Atl. Comet
Geestport
Fed. Palm
Geest Haven
Seachallenge
Carmen
Linguist
Sunpolynesia
Fishbek
27.12.68 Fed. Palm
15.12.68 Adonis
10. 1.69 Alster Ruffer
14. 1.69 Fed. Maple
10. 1.69 Booker Trident
5. 1.69 Lady Angela
24.10.68 Geest Port
24.10.68 Geest Port
2.12.68 Geest Haven
do do
Atl. Comet
9.12.68 Fishbek
1.10.68 Barbados
Pioneer
Consignee
Corea & Co.
J.II.II.
do
Geest Industries
Corea & Co.
Geest Industries
Lyric Trading
Corea & Co.
J. II. Hazell
W. J. Abbott
Corca & Co.
Corea & Co.
J. H. IIazell
Corea & Co.
('or.,a & Co.
G. Palmer Ltd.
Corea & Co.
o-4,t Inds.
Geest Inds.
do
do(
J.H.H.
Corea & Co.
A. C. Hillocks
Agencies
Marks & Nos.
N.W.
J. V.Punnett
c/o W.J.A.
Mr. C. St. Lucia
Hadley Hale 132
M.C.C.Y
N.M
J.H.H. St.V.
E.D.L & S
VLII/WBHI
C.A.P Demerara
E.B.
J.B.II Grenada
F.S. Basseterre
St. Kitts
S.M. St. Kitts
Evlyns St. Kitts
P.H.V.
C&T
28145671, 1-4
P.II.V.
V. 3018 St. V. #5
N/M
M.C.C.Y.
P.S.C. St. V. 8/68
J.II.H.
J.II.H. 1905
C.F. 1785
C.L.S
N/M
N/M
Quantity & Declared
Description Contents
15 ctns Corned beef
1 etu Motor car parts
3 cs Batteries
1 etn Merchandise
3 T/chest do
1 ctn Pineapple juice
1 ctn Campbell's soup
1 etn Libby's juice
2 ctns Crust
1 ctn Polish
10 etns Rolled oats
1 ctn Merchandise
1 ctn Coffee
3 ctns Tea
1 ctn Dettol
1 ctn Butter
2 ctns Lacquer
4 etns Radios
1 etn Flavour Aid
1 ets P/C Goods
1 pkg Transformer
1 etn Provisions
1 crate Christmas cards
1 etn Mushroom soup
5 ctns Tom Piper goods
1 drum Med Prep.
1 eta Annustara
bitters
200 bdles Shingles
Wallaba poles
BAGGAGE WAREHOUSE
Marks & Nos.
Quantity & Declared
Description Contents
17. 5.68
3. 8.68
8. 8.68
17. 9.68
21. 9.68
26. 9.68
Plane
do
do
do
do
do
2.10.68 do
30.10.68 do
21. 9.68
11.12.68
6.11.68
19.11.68
27.11.68
11.12.68
11.12.68
11.12.68
17.12.68
J.H.H.
do
do
do
do
do
do
do
do
do
do
do
do
do
do
do
do
Lyrie Trading Co.
Mr. Hasselquist
Reliance Pharmacy
Miss E. Sargent
G.U.S.O. Volunteers
E. W. Reddock
2449759
0695926
0698046
0702681
4775142
2402336
Captain of Sea Hawk 701452
Caribbean Manufacturers
5941600
Adams Bros. 3240919
Royal Bank of Canada 1702420
R. 1I. Charles 3333248
Mrs. Rooks (Blue Lagoon)
1639889
M. M. Goodman 3385004
C. S. Station 0628467
Millers and Coreys 5979233
S.V.D.M.F.G. Co. Ltd. 297791
Carl DeFreitas 715451
1 etn
I pkg
1 pkg
1 pkg
2 pes
2 pes
1 pkg
1 pel
1 pkg
I etn
1 ctn
2 ctns
1 ctn
1 piece
1 pcl
1 pcl
1 case
Auto parts
Pipe fittings
Medicines
Books
Personal effects
Rubber %
plastic goods
Tractor parts
Screen
Camel backs
Vegetable oil
G.M.U
Fan motor and
garden hose
16 mm film
Motor car parts
Radio spares
Tobacco samples
Tractor parts
Date
Ware-
housed
Conveyance
Consignee
SAINT VINCENT, TUESDAY, 14 APRIL, 1970.-(No. 24.) 189
BAGGAGE WAREHOUSE (Contd.)
Consignee
Marks & Nos.
Quantity & Declared
Description Contents
Articles
in ware-
house for
Plane
do
do
J.H.H.
do
do
Edwin Browne
Clara Williams
Dr. Jean Marie
over one do do N.M.
year as at do
28. 2.69 do
do
do
do
do
do
do
do
do
do
do
do
do
do
do
do
do
do
(1o
do
do
do
do
do
do
do
do(
do
do
do
do
do
do
do
do
do
29.10.68 do
N/M
N/M
II.D.D. & Co.
E.D.L & S
N/M
N/M
N/M
N/M
Mr. J. P. Williams
(B.P T'dad)
N M
L.I.A.T. Agents
(R. Joshua)
N/M
f(eest Industries
N/M
N/M
N/M
Frank Porter
George Samuel
U.T.L.
C. L. Tannis
N/M
St. Vin Manufacturi]
Co.
do.
F. J. DeNobriga
J. H. Hazell
do
F. Gonsalves
Ralph Alves
N/M
H. D. Dear
N/M
Royal Pharmacy
E. D. Layne
Chambers ,White
Chapel)
Star Garage
N/M
Cable & Wireless
616015 1 pkg
693779 1 pkg
693779 1 pkg
1 etn
0628092
1 etn
1 s'case
I ctn
1 ctn
1 ctn
1 s'case
1 s'case
1 s'ease
Personal effects
do do
Electromatic
skillet
Electrical
apparatus
Shirts
Personal effects
Filente
Pants
Hair spray
Personal effects
do do
do do
- 1s'case do
- 1 s'case do
...... 1 s'case
1 s'case
1 etn
I bag
1 only
I box
1 etn
1 pkg
374788 1 ,;ilse
0526647 1 pkg
0235751 1 pkg
1 pkg
ag 1 pkg
66532
1 pkg
1 pkg
1 pkg
2 pkg
1 pkg
1 pkg
1 s'case
1 pkg
1 ctn
...... 1 ctn
1 pkg.
062644 1 pkg.
2849465 1 pc
0032298 1 ctn
5926859 1 ctn
do do
Empty
Tape
Personal effects
Gas tank
Miscellaneous
G.M.U
Used T.V. set
G.M.U
do.
do.
Nuts
Tobacco
do.
Concentrate
Metal plates
Metal Stand
Food stuff
Car parts
Personal effects
Gaskets
Baked beans
Medicine
Gaskets
G.M.U
Car part
G.M.U
G.M.U
Date
Ware-
housed
Conveyance
SAINT VINCENT, TUESDAY, 14 APRIL, 1970.-(No. 24.)
It is further notified that the undermentioned goods which have been in the Queens
Warehouse No. 2 and the Baggage Warehouse for over one year and are not worth the duty
due thereon, shall be forfeited in accordance with Section 28 of Cap. 183 of the Laws of
St. Vincent.
W. V. YORKE,
for Collector of Customs & Excise.
Custom House,
Kingstown,
4th March, 1970.
Date Quantity & Declared
Ware- Conveyance Consignee Marks & Nos. Description Contents
housed
28. 6.68 Novelist J. H. Hazell McKenzie 1 s'case Personal effects
25. 7.68 Crusade: do Witcham 1 es do do
8. 8.68 Adonis S do Sunset Blenders 1 pkg Adv. Material
23. 9.68 Crusader do S.M.L. St. Kitts 1 etn Cydrax
W & H, St. Kitts 1 ctn do
25. 9.68 Christel Corea & Co. Hadaway Store 1 es Iron comn bs
Viennen
7.10.68 Fed. Maple do E.W.R.A. 1 etn Juice
26. 9.68 Speedy Queen J. H. Ilazell N/M 2 ctns Confectionery
23. 4.68 Atlantic Comet do H.II. 1785 1 drum Pickled Meat
24.10.68 do do do Hadley Hale #51 1 ctn Christ tree deco-
rations (cards)
Bever Ash J.H.H. B.S.L. 1 bag Sugar
24.10.68 Rosita Corei & Co. CO 610/AUPOS 2 bags Oats
6.11.68 Elizabeth do DaCosta & Musson 1 etn Adv. Material
Bornhoffer
11.12.68 Geest Cape Geest Inds. P.H.V. 2 ctns Tennant. Malt
BAGGAGE WAREHOUSE
Date Quantity & Declared
Ware- Conveyance Consignee Marks & Nos. Description Contents
housed
17. 7.68 Plane J.H.H. Caribair 353472 1 pkg Printed Matter
17. 5.68 do do S. 0. Jack 672814 1 pkg Football
coupons
24. 7.68 do do Lyric Trading Co. 345643 5 ctns Company
material
24. 7.68 do do Caribair 353487 l.pcl Printed matter
29. 7.68 do do S. 0. Jack 699013 1 pkg Pool coupons
3. 8.68 do do do 0699096 1 pkg Pool coupons
8. 8.68 do do Corea & Co. 0695773 1 pkg Adv. Material
14. 8.68 do do Caribbean Manu. Co. 682180 1 pkg Yellow
colouring
16. 8.68 do do E. Dejane 667486 9 pkgs Samples
6. 9.68 do do J. H. Hazells 0700874 2 pes Display models
10. 9.68 do J. H. Hazell E.F. Banana Assn. 0682230 3 ctns Banana
calendars
10. 9.68 do do Cable & Wireless 389687 1 can Adv. material
8.10.68 do do Connells 2236057 lctn Wall paper
8.11.68 do do Mr. Allan Kunty 147272484 3 pkgs Office supplies
30.10.68 do C.A.A.T C.C. Son 390878 16 of 52 Filt
t ns
14.11.68 do do Caribair 368851 1 pkg. Printed matter
14.11.68 do do do 368857 1 pkg do do
6. 1.69 do do J. H. Hazell & Sons 445350 1 ctn Calienders
6. 1.69 do do Imperial Bank 3991425 2 ctns Novelties
10. 1.69 do do I.A.C.L. 0719100 1 pkg Stationery
PRINTED BY
THE GOVERNMENT PRINTER AT THE GOVERNMENT PRINTING OFFICE,
KINGSTOWN, ST. VINCENT.
[Price 30 cents. ]
SAINT VINCENT.
Act No. 14 of 1969.
I Assent,
H. GEORGE,
[ L.S. ] Governor.
31st December, 1969.
AN ACT to provide for the implementation by the Government
of Saint Vincent of an Agreement for the establishment and
operation of the Caribbean Development Bank, and for pur-
poses connected therewith.
[ 14th April, 1970. ]
Be it enacted by the Queen's Most Excellent Majesty, by and
with the advice and consent of the House of Assembly of Saint
Vincent, and by the authority of the same as follows:-
1. This Act may be cited as the Caribbean Development Bank Short .title,
Act, 1969. -. .
2. In this Act- "InbrrIr.1i':''''n. .
"Bank" means the Caribbean Development Bank estab / -
lished by the Bank Agreement; ,
"Bank Agreement" means the Agreement establishing thel
Caribbean Development Bank the text of which is
set out in the Schedule;
"Minister" means the Minister responsible for finance.
3. Acceptance of the Bank Agreement by the Government of Acceptance of
Saint Vincent (hereinafter referred to as the Government) is the Bank
hereby approved. Agreement by
the Government.
Caribbean Development Bank.
Financial
provisions for
giving effect
to the Bank
Agreement.
Minister
empowered to
raise loans for
purposes
of Bank
Agreement.
Designation of
Depository for
holding of
currency.
4. (1) All sums required to be paid by the Government for
the purpose of meeting the obligations of Saint Vincent under
the Bank Agreement are hereby charged on and shall be paid out
of the Consolidated Fund.
(2) The Minister may, if he thinks fit, create and issue
to the Bank any such non-negotiable and interest-bearing notes
and other obligations as are provided for by paragraph 5 of Article
7 of the Bank Agreement and sums payable under such notes or
obligations so created and issued shall be charged on and paid
out of the Consolidated Fund.
(3) Any sums received by the Government from the Bank
pursuant to the Bank Agreement shall be paid into the Consoli-
dated Fund.
5. (1) The Minister may borrow from any person any sum
or sums required for payments under section 4 or for replacing
any sum or sums paid out of the Consolidated Fund pursuant to
that section and, for the purpose of such borrowing, may create
and issue any securities bearing such rate of interest and subject
to such conditions as to repayment, redemption or otherwise, as he
thinks fit.
(2) The principal and interest of any securities issued
under sub-section (1) and any expenses incurred in connection
with 'their issue shall be charged on and paid out of the Con-
solidated Fund.
(3) Any monies raised by securities issued under sub-
section (1) shall be paid into the Consolidated Fund.
6. The East Caribbean Currency Authority, or such other
institution as may be agreed upon with the Bank, shall act as a
depository for 'the holdings of the currency of Saint Vincent and
other assets of the Bank.
Certain provi- 7. The provisions of Articles 48, 49, 50, 51, 52, 53, 54 and 55
sions of Bank of the Bank Agreement shall have the force of law in Saint
Agreement given Vincent.
force of law in
SaintVincent.
No. 14.
1969.
No. 14. Caribbean Development Bank. 1969.
SCHEDULE. (Section 2)
AGREEMENT ESTABLISHING THE CARIBBEAN DEVELOPMENT
BANK
The Contracting Parties
CoNscIous of the need to accelerate the economic development of States
and Territories of the Caribbean and to improve the standards of living of
their peoples;
RECOGNIZING the resolve of these States and Territories to intensify eco-
nomic co-operation and promote economic integration in the Caribbean;
AWARE of the desire of other countries outside the region to, contribute: to
the economic development of the region;
CONSIDERING that such regional economic development urgently requires
the mobilization of additional financial and other resources; and
CONVINCED that the establishment of a regional financial institution with
jlhe broadest possible -participation will facilitate the achievement of these
ends;
HEREBY AGREE AS FOLLOWS:
No. 14. Caribbean Development Bank. 1969.
INTRODUCTORY ARTICLE
The Caribbean Development Bank' (hereinafter called the "Bank") is
hereby established and shall be governed by the following
ARTICLES OF AGREEMENT:
CHAPTER I
PURPOSE, FUNCTIONS AND PARTICIPATION
ARTICLE I
PURPOSE
The purpose of the Bank shall be to contribute to the harmonious economic
growth and development of the member countries in the Caribbean (herein-
after called the "region") and to promote economic co-operation and integra-
tion among them, having special and urgent regard to the needs of the less
developed members of the region.
ARTICLE 2
FUNCTIONS
1. To carry out its purpose, the Bank shall have the following functions:
(a) to assist regional members in the, co-ordination of their develop-
ment programmes with a\view to achieving better utilization of
their resources, making their economies more complementary, and
promoting the orderly expansion of their international trade, in
particular intra-regional trade;
(b) to mobilize within and outside the region additional financial
resources for the development of the region;
(c) to finance projects and programmes contributing to the develop-
ment of the region or any of the regional members;
(d) to provide appropriate technical assistance to its regional
members, particularly by undertaking or commissioning pre-
investment surveys and by assisting in the identification and
preparation of project proposals;
(e) to promote public and private investment in development projects
by, among other means, aiding financial institutions in the region
and supporting the establishment of consortia;
(f) to co-operate and assist in other regional efforts designed to pro-
mote regional and locally controlled financial institutions and a
regional market for credit and savings;
No. 14. Caribbcan Development Bark. 1969.
(g) to stimulate and encourage the development of capital markets
within the region, and
(h) to undertake or promote such other activities as may advance
its purpose.
2. The Bank shall, where appropriate, co-operate with national, regional
or international organizations or other entities concerned with the develop-
ment of the region.
ARTICLE 3 -
MEMBERSHIP
1. Membership in the Bank shall be open to:
(a) States and Territories of the region; and
(b) non-regional States which are members of the United Nations
or of any of its specialized agencies or of the International
Atomic Energy Agency.
2. The States and Territories listed in Annex A to this Agreement the
Governments of which sign this Agreement in accordance with paragraph 1
of Article 62 and ratify or accept it in accordance with paragraph 1 of Article
63 shall become members of the Bank.
3. States and Territories eligible for membership under paragraph 1 of
this Article which do not become members in accordance with paragraph 2
of this Article may be admitted to membership on such terms and conditions
as the Bank may determine by a vote of not less than two-thirds of the total
number of the governors representing not less than three-fourths of the total
voting power of the members, and on acceding to this Agreement in accordance
with paragraph 2 of Article 63.
4. For the purposes of Articles 26, 32 and 65 the last four Territories
listed in category A of Annex A to this Agreement shall be considered as
a single member of the Bank.
ARTICLE 4
PARTICIPATION OF NON-MEMBERS
The Bank shall encourage and facilitate the fullest co-operation and par-
ticipation in its activities of other regional or non-regional States which are
members of the United Nations or any of its specialized agencies or of the
International Atomic Energy Agency and which may further its purpose, and
shall take such measures as it may deem appropriate under the provisions of
this Agreement to promote such co-operation and participation.
No. 14. Caribbean Development Bank. 1969.
CHAPTER II
CAPITAL AND OTHER RESOURCES
ARTICLE 5
AUTHORIZED CAPITAL
1. The authorized capital stock of the Bank shall be the equivalent of fifty
million dollars ($50,000,000) in terms of United States dollars of the weight
and fineness in effect on 1st September, 1969. The authorized capital stock
shall be divided into ten thousand (10,000) shares with a par value of five
thousand dollars ($5,000) each, which shall be available for subscription only
by members in accordance with the provisions of Article 6.
2. The original authorized capital stock shall be divided into paid-up
shares and callable shares. Shares having an aggregate par value equivalent
to twenty-five million dollars ($25,000,000) shall be paid-up shares, and shares
having an aggregate par value equivalent to twenty-five million dollars
($25,000,000) shall be callable shares.
3. The authorized capital stock may be increased by the Board of Gov-
ernors at such time and on such terms and conditions as it may determine by
a vote of not less than two thirds of the total number of the governors repre-
senting not less than three-fourths of the total voting power of the members.
4. In this Agreement the expression "dollar" means a United States
dollar of the value specified in paragraph 1 of this Article.
ARTICLE 6
SUBSCRIPTION OF SHARES
1. Each member shall subscribe to shares of the capital stock of the
Bank. Each subscription to the original authorized capital stock shall be for
paid-up and callable shares in equal parts. The initial number of shares to be
subscribed by those States and Territories which become members in accord-
ance with paragraph 2 of Article 3 shall be as set forth in Annex A to this
Agreement which shall form an integral part thereof. The initial number of
shares to be subscribed by those States and Territories which are admitted to
membership in accordance with paragraph 3 of Article 3 shall be determined
by the Board of Governors in accordance with that paragraph.
2. The authorized capital stock of the Bank shall at all times be held or
be available for subscription in the following manner:
(a) not less than sixty (60) per cent by regional members; and
No. 14. Carilfbean Development Bank. 1969.
(b) not more than forty (40) per cent by other members.
3. In case of an increase in the authorized capital stock, each member
shall have a right to subscribe, on such -terms and conditions as the Board
of Governors shall determine, to a proportion of the increase of stock equiva-
lent to the proportion which its stock previously subscribed bears to the total
subscribed capital stwck immediately before such increase, provided, however,
that this provision shall not apply in respect of any increase or portion of an
increase in the authorized capital stock which is intended solely to give effect
to determinations of the Board of Governors under paragraphs 1 and 4 of this
Article. No member shall be obligated to subscribe to any part of an increase
in capital stock.
4. Subject to-the provisions of paragraph 2 of this Article, the Board of
Governors may, at the request of a member, increase the subscription of such
member on such terms and conditions as the Board maydetermine. The Board
of Governors shall pay special regard to the request of any regional -member
having less than five (5) per cent of the subscribed capital stock to increase
its subscription.
5. Shares initially subscribed by those States and Territories which be-
come members in accordance with paragraph 2 of Article 3 shall be issued
at par. Other shares shall be issued at par unless the Board of Governors by
a vote of not less than two-thirds of the total number of the governors repre-
senting not less than three-fourths of the total voting power of the members
decides in special circumstances to issue them on other terms.
6. Shares shall not be pledged or encumbered in any manner whatsoever.
They shall not be transferable except to the Bank.
7. Liability of the members on shares shall be limited to the unpaid por-
tion of their issue price.
8. Except as provided in paragraph 7 of this Article, no member shall be
liable, by reason of its membership, for obligations of the Bank.
ARTICLE 7
PAYMENT OF SUBSCRIPTIONS
1. Payment of the amount due in respect of paid-up shares initially sub-
scribed by a State or Territory which be'eomes a member in accordance with
paragraph 2 of Article 3 shall be made in six (F3) instalments. The first in-
stalment shall equal 20 per eeni of that amount and the remaining five instal--
1
No. 14. Caribbbean Development Bank. 1969.
ments shall each equal 16 per cent of that amount. The first instalment shall
be paid by each member not later than 90 days after entry into force of this
Agreement or on or before the date of deposit of its instrument of ratification
or acceptance in accordance with Article 63, whichever is the later. The second
installment shall be paid not later than one (1) year from the entry into force
of this Agreement. The remaining four instalments shall each be paid succes-
sively not later than one (1) year from the date on which the preceding in-
stalment becomes payable.
2. Of each installment of an initial subscription payable under paragraph
1 of this Article by a State or Territory which becomes a member pursuant to
paragraph 2 of Article 3:
(a) fifty (50) per cent shall be paid in gold or in a convertible cur-
rency which is freely and effectively useible in the operations of
the Bank or in a currency which is freely and fully convertible
into such a currency, provided that if the currency of that mem-
ber meets either of such requirements, such payment shall be
made in the currency of that member; and
(b) fifty (50) per cent shall be paid in the currency of that member,
subject to the provisions of paragraph 5 of this Article.
3. Each payment of a member in its own or another currency shall be in
such amount as the Bank, after such consultation with the International Mon-
etary Fund as it may consider necessary and utilizing the par value, if any,
established with the Jnternational Monetary Fund, shall determine to be
equivalent to the full value in terms of dollars of the portion of the subscrip-
tion being paid. The first installment payable pursuant to paragraph 1 of this
Article shall be in such amount as that member considers appropriate in
accordance with this paragraph, but shall be subject to such adjustment,
to be effected within ninety (90) days of the date on which such payment was
due, as the Bank shall determine to be necessary to constitute the full dollar
equivalent of such payment.
4. Subject to the provisions of paragraphs 6 and 7 of this Article relating
to callable shares, payment of other subscriptions in respect of original author-
ized shares and of increases in the capital stock of [he Bank shall be made at
such times and in gold or in such currencies as the Board of Governors shall
determine and the Board may determine with the agreement of all members
that different proportions of such capital be paid up by different members.
5. The Bank shall accept from a member, in place of any part of the
member's currency paid or to be paid by the member under paragraph 2(b) of
this Article or under paragraph 1 of Article 24 in respect of payments under
paragraph 2(b) of this Article, provided such currency is not required by the
No. 14. Caribbean Development Bank. 1969.
Bank for the conduct of its operations, promissory notes or other obligations
issued by the Government of the member or by the depository designated by
the member pursuant to Article 37. Such notes or other obligations shall be
non-negotiable, non-interest bearing, and payable at their par value upon
demand. Subject to paragraph 5 of Article 23, demand for payment of such
notes or other obligations shall be made only as and when the funds are re-
quired by the Bank for the conduct of its operations, provided, however, that
a member which has issued such. promissory notes or other obligations may at
the request of the Bank convert any of them into interest-bearing notes or
into cash to be invested in government securities of that member. Demands
upon such notes or obligations shall, as far as practicable over reasonable
periods of time, be uniform in percentage of all such notes and obligations.
Notwithstanding the issuance or acceptance of a note or other obligation by
the Bank, the obligation of the member under paragraph 2(b) of this Article
and under Article 24 shall subsist.
6. Callable shares shall be subject to call only as and when required
by the Bank to meet its obligations incurred pursuant to sub-paragraphs (b)
and (d) of Article 13 on, borrowings of funds for inclusion in its ordinary
capital resources or on guarantees chargeable to such resources. Such calls
on unpaid subscriptions shall be uniform in percentage on all callable shares.
7. Payment of calls referred to in paragraph 6 of this Article may be
made at the option of the member in gold, convertible currency or in the
currency required to discharge the obligations of the Bank for the purpose of
which the call is made.
8. The Bank shall determine the place for any payment under this
Article, provided that, until the inaugural meeting of the Board of Governors
the payment of the first instalment referred to in paragraph 1 of this Article
shall be made to the Government of Barbados as Trustee of the Bank.
ARTICLE 8
SPECIAL FUNDS
1. A special fund to be known as the Special Development Fund is hereby
established into which the Bank may receive contributions or loans. The
Special Development Fund may be used to make or guarantee loans of high
developmental priority, with longer maturities, longer deferred commencement
of repayment and lower interest rates than those determined by the Bank for
its ordinary operations. The Bank' shall, as soon as practicable, adopt rules
and regulations for the administration and use of the Special Development
Fund.
No. 14. Caribbean Development Bank. 1969.
2. The Bank may establish, or be entrusted with the administration of,
other special funds which are designed to serve its purpose and fall within its
functions. It shall adopt such special rules and regulations as may be required
for the establishment, administration and use of the resources of each special
fund.
3. Subject to the provisions of paragraph 1 of this Article relating to
the Special Development Fund, the terms and conditions upon which the Bank
may receive contributions or loans for special funds, including the Special
Development Fund, shall be such as may be agreed upon between the Bank and
the contributor or lender, and special funds may be used in any manner and
on any terms and conditions not inconsistent with the purpose and functions
of the Bank or with any agreement relating to such funds.
4. No allocation may be made to the Special Development Fund provided
for in paragraph 1 of this Article or to any other special fund from the paid-up
capital or reserve of the Bank or from funds borrowed by the Bank for in-
clusi6n in its ordinary capital resources.
5. The rules and regulations relating to any special fund shall be con-
sistent with the provisions of this Agreement except those which expressly
apply only to ordinary operations of the Bank. Where such rules and regula-
lations do not apply, special funds shall be governed by the provisions of this
Agreement.
ARTICLE 9
ORDINARY CAPITAL RESOURCES AND SPECIAL FUNDS RESOURCES
1. The resources of the Bank shall consist of ordinary capital resources
and special funds resources.
2. In this Agreement, the expression "ordinary capital resources" in-
cludes the following:
(a) authorized capital stock of the Bank subscribed pursuant to
Article 6;
(b) funds borrowed by the Bank to which the commitment to calls
provided for in paragraph 6 of Article 7 is applicable;
(c) funds received in repayment of loans or guarantees made with
the resources referred to in sub-paragraphs (a) and (b) of this
paragraph;
No. 14. Caribbean Development Bank. 1969.
(d) income derived from loans made from the aforementioned funds
or from guarantees to which the commitment to calls provided
for in paragraph 6 of Article 7 is applicable; and
(e) any other funds or income received by the Bank which do not
form part of any special funds resources.
3. In this Agreement, the expression "special funds resources" refers to
the resources of any special fund and includes the following:
(a) resources initially contributed to any special fund;
(b) funds accepted by the Bank for inclusion in any special fund;
(c) funds repaid in respect of loans or guarantees financed from the
resources of any special fund which, under the rules and regula-
tions of the Bank governing that special fund, are received by
such special fund;
(d) income derived from operations of the Bank in which any of the
aforementioned resources or funds are used or committed if, under
the rules and regulations of the Bank governing the special fund
concerned, that income accrues to such special fund; and
(e) any other resources placed at the disposal of any special fund.
CHAPTER III
OPERATIONS
ARTICLE 10
USE OF RESOURCES
The resources and facilities of the Bank shall be used exclusively to fur-
ther the purpose and carry out the functions set forth, respectively, in Articles
1 and 2 of this Agreement.
ARTICLE 11
ORDINARY AND SPECIAL OPERATIONS
1. The operations of the Bank shall consist of ordinary operations and
special operations.
2. Ordinary operations shall be those financed from the ordinary capital
resources of the Bank.
3. Special operations shall be those financed from special funds resources.
No. 14. Caribbean Development Bank. 1969.
ARTICLE 12
SEPARATION OF OPERATIONS
1. The ordinary capital resources of the Bank shall at all times and in
all respects be held, used, committed, invested or otherwise disposed of, entirely
separate from special funds resources. Each special fund, its resources and
accounts shall be kept entirely separate from other special funds, their
resources and accounts.
2. The ordinary capital resources of the Bank shall not be charged with,
or used to discharge, losses or liabilities arising out of operations or other
activities of any special fund. Special funds resources appertaining to any
special fund shall not be charged with, or used to discharge, losses or liabilities
arising out of operations or other activities of the Bank financed from its
ordinary capital resources or from resources appertaining to any other special
fund.
3. In the operations and other activities of any special fund, the liability
of the Bank shall be limited to the resources appertaining to that special fund
which are at the disposal of the Bank.
4. The financial statements of the Bank shall show the ordinary opera-
tions and the special operations of the Bank separately. Expenses appertain-
ing to ordinary operations shall be charged to the ordinary capital resources
of the Bank. Expenses appertaining directly to special operations shall be
charged to the special funds resources. Any other expenses shall be charged
as the Bank shall determine.
5. The Bank shall adopt such other rules and regulations as may be re-
quired to ensure the effective separation of the two types of its operations.
ARTICLE 13
RECIPIENTS AND METHODS OF ORDINARY OPERATIONS
In its ordinary operations, the Bank may provide or facilitate financing
for any regional member or any political subdivision or any agency thereof, or
any other entity or enterprise in the public or private sector operating in the
territory of such member, as well as for international or regional agencies or
other entities concerned with the economic development of the region. The
Bank may carry out such operations in any of the following ways:
No. 14. Caribbean Development Bank. 1969.
(a) by making or participating in direct loans with its unimpaired
paid-up capital and, except as provided in Article 18, with its
reserves and undistributed surplus;
(b) by making or participating in direct loans with funds raised by
the Bank in capital markets or borrowed or otherwise acquired
by the Bank for inclusion in its ordinary capital resources;
(c) by investment of the funds referred to in paragraphs (a) and (b)
of this Article in the equity capital of an entity or enterprise,
provided, however, that no such investment shall be made until
after the Board of Governors, by a vote of not less than two-
thirds of the total number of governors representing not less than
three-fourths of the total voting power of the members, shall
have determined that the Bank is in a position to begin such type
of operations; or
(d) by guaranteeing, whether as primary or secondary bbligor, in
whole or in part, loans for economic development.
ARTICLE 14
LIMITATIONS ON OPERATIONS
1. The total amount outstanding of loans, equity investments and guar-
antees made by the Bank in its ordinary operations shall not at any time exceed
the total amount of its unimpaired subscribed capital, reserves and surplus and
and other funds included in its ordinary capital resources, exclusive of the
special reserve provided for in Article 18 and other reserves not available for
Ordinary operations.
2. The total amount outstanding in respect of the special operations of
the Bank relating to any special fund shall not at any time exceed the total
amount of the unimparted resources appertaining to that special fund.
3. In the case of funds invested in equity capital out of the ordinary
capital resources of the Bank, the total amount invested shall not at any time
exceed ten (10) per cent of the aggregate amount of the unimpaired paid-up
capital stock of the Bank actually paid up at any given time together with
the reserves and surplus included in its ordinary capital resources, exclusive
of the special reserve provided for in Article 18.
4. The amount of any equity investment shall not exceed such percentage
of the equity capital of the entity or enterprise concerned as the Board of
Directors shall from time to time or in each specific case determine to be appro-
priate. The Bank shall not seek to obtain by such an investment a controlling
interest in the entity or enterprise concerned, except where necessary to safe-
guard the investment of the Bank.
No. 14. Caribbean Development Bank. 1969.
ARTICLE 15
OPERATING PRINCIPLES
Subject to the provisions of this Agreement, the operations of the Bank
shall be conducted in-accordance with the following principles:
(a) The operations of the Bank shall provide principally for the
financing of specific projects, including those forming part of
a national, sub-regional or regional development programme. They
may, however, include loans to, or guarantees of loans made to,
national development banks or other suitable financial institu-
tions, in order that the latter may finance development projects
on terms approved by the Bank where the individual financing
requirements of such projects are not, in the opinion of the Bank,
large enough to warrant the direct supervision of the Bank.
(b) The Bank shall not finance any undertaking in the territory of
a member if that member objects to such financing.
(c) Before a loan or guarantee is granted, the applicant shall have
submitted an adequate loan or guarantee proposal and the Presi-
dent of the Bank shall have presented to the Board of Directors
a written report regarding the proposal together with his recom-
mendations on the basis of a staff study.
(d) In considering an application for a loan or guarantee, the Bank
shall pay due regard to the ability of the borrower to obtain
financing elsewhere on terms and conditions that the Bank con-
siders reasonable for the recipient.
(e) In making or guaranteeing a loan, the Bank shall pay due regard
to the prospects that the borrower and its guarantor, if any, will
be in a position to meet their obligations under the loan contract.
(f) In making or guaranteeing a loan, the rate of interest, other
charges and the schedule for repayment of principal shall be
such as are, in the opinion of the Bank, appropriate for the loan
concerned.
(g) In guaranteeing a loan made by other investors, or in under-
writing the sale of securities, the Bank shall receive suitable
compensation for its risk.
(h) The proceeds of financing in the ordinary operations of the
Bank shall normally be used only for procurement, in territories
of members, of goods and services produced in those territories.
In special cases the Board of Directors may, however, determine
the circumstances in which the procurement of goods and services
may be permitted elsewhere, giving particular consideration
No. 14. Caribbean Development Bank. 1969.
wherever practicable to procurement of goods and services pro-
duced in the territory of countries which have contributed sub-
stantially to the resources of the Bank.
(i) In procuring services, and in facilitating financing for entities or
enterprises in the private sector, the Bank shall pay due regard
to the need to develop and strengthen undertakings, entities and
skills of individuals belonging to the region.
(j) In the case of a direct loan made by the Bank, the borrower shall
be permitted by the Bank to draw its funds only to meet expendi-
tures in connection with the project as they are actually incurred.
(k) The Bank shall take the necessary measures to ensure that the
proceeds of any loan made, guaranteed, or participated in by the
Bank are used only for the purposes for which the loan was
granted and with due regard to considerations of economy and
efficiency.
(1) The Bank shall pay due regard to the desirability of a reasonable
distribution of the benefits from its operations among the mem-
bers in the region.
(m) The Bank shall seek to maintain reasonable diversification in its
investments in the equity capital.
(n) The Bank may provide financing to meet either external or local
expenditures in respect of a project being assisted, provided that
in its ordinary operations the Bank shall provide financing for
local expenditures in the territory in which the project is located
only in exceptional circumstances and not exceeding a reasonable
proportion of the total of such expenditures, or in circumstances
where such financing may be provided with local currency re-
stricted under paragraph 2 of Article 23.
(o) The Bank shall be guided by sound development banking prin-
ciples in its operations.
ARTICLE 16
TERMS AND CONDITIONS FOR DIRECT LOANS AND GUARANTEES
1. In the case of direct loans made or participated in or loans guaranteed
by the Bank, the contract shall establish the terms and conditions for the loan
or guarantee concerned, including those relating to payment of principal, in-
terest and other charges, maturities, and dates of payment in respect of the
loan, or the fees and other charges in respect of the guarantee, respec'lively.
No. 14. Caribbean Development Bank. 1969.
2. Subject in the case of special operations to any rules and regulations
or other arrangements relating thereto, the contract relating to a loan made or
guaranteed by the Bank shall specify the currency or currencies to be used
in making repayments to the Bank, or stipulate that repayments shall be made
in the currency or currencies loaned, or make other appropriate provision for
the currency or currencies of repayment. At the option of the borrower, how-
ever, such repayments may be made in gold or, subject to the agreement of the
Bank, in any convertible currency. The contract may also provide that the
amount of repayments to the Bank shall be equivalent, in terms of a currency
specified for that purpose by the Bank, to the value of those repayments on
on the date or dates on which the loan was disbursed.
3. Where the recipient of a loan or guarantee of a loan is not itself a mem-
ber, the Bank may, when it deems it advisable, make it a condition of the
contract that the member in whose territory the project concerned is to be
carried out, or a public agency of that member acceptable to the Bank, guar-
antee the repayment of the principal and the payment of interest and other
charges on the loan in accordance with the terms thereof.
ARTICLE 17
COMMISSION AND FEES
1. The Bank shall determine the rate and any other terms and conditions
of the commission to be charged in connection with direct loans made or parti-
cipated in as part of its ordinary operations. This commission shall be com-
puted on the amount outstanding on each loan or participation and shall be
at the rate of not less than one (1) per cent per annum in the first five (5) years
of the operations of the Bank. At the end of this period, the rate of commis-
sion may be set at such level as the Bank considers appropriate in the light of
the level of the reserves of the Bank.
2. In guaranteeing a loan as part of its ordinary operations, the Bank
shall, in addition to any other charges, require a guarantee fee, at a rate deter-
mined by the Board of Directors, payable periodically on the amount of the
loan outstanding.
3. Other charges of the Bank in its ordinary operations, and any com-
mission, fees or other charges in its special operations, shall be determined by
the Board of Directors,
No. 14. Caribbean Development Bank. 1969.
ARTICLE 18
SPECIAL RESERVE
The amount of commissions and guarantee fees received by the Bank pur.
suant to Article 17 of this Agreement shall be set aside as a special reserve
which shall be kept for meeting liabilities of the Bank. The special reserve
shall be held in such liquid form as the Board of Directors may decide, provided
that whenever it is in the interest of the Bank the special reserve may be in-
vested in the securities of the region.
ARTICLE 19
METHODS OF MEETING LIABILITIES OF THE BANK
1. Whenever necessary to meet contractual payments of interest, other,
charges or amortization on borrowings of the Bank in its ordinary operations,
or to meet its liabilities with respect to similar payments in respect of loans
guaranteed by it, chargeable to its ordinary capital resources, the Bank may
call an appropriate amount of callable shares in accordance with paragraph 6
of Article 7.
2. If the subscribed callable capital stock of the Bank shall be entirely called
pursuant to paragraph 6 of Article 7, the Bank may, if necessary for the pur-
pose specified in paragraph 1 of this Article, use or exchange the currency of
any member without restriction, including any restriction imposed pursuant to
paragraph 2 of Article 23.
CHAPTER IV
BORROWING AND OTHER MISCELLANEOUS POWERS
ARTICLE 20
GENERAL POWERS
In addition to the powers provided elsewhere in this Agreement, the Bank
shall have the power to:
(a) borrow funds in the territories of members or elsewhere, and in
this connexion to furnish such collateral or other security therefore
as the Bank shall determine, provided always that:
(i) before making a sale of its obligations in a country, the Bank
shall seek the approval of the competent authorities of that
country;
No. 14. Caribbean Development Bank. 1969.
(ii) where the obligations of the Bank are to be denominated in
the currency of a member, the Bank shall have obtained the
.approval of the competent authorities of that member;
(iii) the Bank shall obtain the approval of the competent author-
ities referred to in sub-paragraphs (i) and (ii) of this para-
graph that the proceeds may be exchanged for any other
currency without restriction; and
(iv) before determining whether to sell its obligations in a particu-
lar country, the Bank shall consider the amount of previous
borrowing, if any, in that country, the amount of previous
borrowings in other countries, and the possible availability
of funds in such other countries and shall give due regard
to the general principle that its borrowings should, as far
as possible, be diversified as to the country of borrowing;
(b) buy and sell securities the Bank has issued or guaranteed or in
which it has invested, provided always that it shall have obtained
the approval of the competent authorities of the country where
the securities are to be bought or sold;
(c) guarantee securities in which it has invested, in order to facilitate
their sale;
(d) underwrite, or participate in the underwriting of, securities
issued by any enterprise or entity for purposes consistent with
the purpose and functions of the Bank;
(e) invest or deposit funds, not needed in its operations, in the terri-
tories of members or of substantial contributors to the resources
of the Bank, in such obligations or institutions of members or
substantial contributors, or nationals thereof, as it may deter-
mine, except where the Board of Directors by a vote of not less
than three-fourths of the total voting power of the members
determines otherwise;
(f) assist regional members in matters relating to the foreign place-
ment of official loans;
(g) borrow from Governments, their political sub-divisions and in-
strumentalities, and international organizations,' on such terms
and conditions as may be agreed upon between the Bank and the
lender;
(h) provide technical assistance which serves its purpose and comes
within its functions, and where expenditures incurred in furnish-
ing such services are not reimbursable, charge the income of the
Bank therewith; and
(i) exercise such other powers and adopt such rules and regulations as
may be necessary or appropriate in furtherance of its purpose
and functions and consistent with the provisions of this Agree-
ment.
No. 14. Caribbean Development Bank. 1969.
ARTICLE 21
NOTICE TO BE PLACED ON SECURITIES
Every security issued or guaranteed by the Bank shall include a statement
to the effect that it is not an obligation of any Government, unless it is in fact
the obligation of a particular Government, in which case it shall so state.
CHAPTER V
CURRENCIES
ARTICLE 22
VALUATION OF CURRENCIES AND DETERMINATION OF
CONVERTIBILITY
Whenever the Bank considers it necessary under this Agreement:
(a) to value any currency in terms of another currency or of gold; or
(b) to determine whether any currency is convertible;
such valuation or determination, as the case may be, shall be reasonably made
by the Bank after consultation with the International Monetary Fund.
ARTICLE 23
USE OF CURRENCIES
1. The currency of any member held by the Bank as part of its ordinary
capital resources, however acquired, may be used by the Bank or by any
recipient from the Bank, without restriction by that member, to make payments
for expenditures within, or for goods and services produced in, the territory of
that member.
2. Members may not maintain or impose any restrictions on the holding
or use by the Bank or by any recipient from the Bank, for payments in any
country, of gold or any currency received by the Bank and included in its
ordinary capital resources; except that a regional member may, after con-
sultation with and subject to periodic review by the Bank, restrict, in whole
or in part, to expenditure in the territory of that member the use of its currency
paid in as, or derived as repayments of principal from, currency of the member
paid pursuant to paragraph 2(b) of Article 7.
3. The use of any currency received and.held by the Bank as part of its
special funds resources shall be governed by the rules, regulations and agree-
ments pertaining thereto and made by virtue of the provisions of Article 8.
No. 14. Caribbean Development Bank. 1969.
4, Gold or currencies held by the Bank may not be used by the Bank to
purchase currencies of members or non-members except with the approval of
the member or members whose currencies are involved, but may be so used
without such approval:
(i) in order to meet the obligations of the Bank in the ordinary
course of its business; or
(ii) if the currency to be used for such purchase is the currency of
,a member received by the Bank as a payment on account of the
subscription of another member; or
(iii) pursuant to a decision of the Board of Directors by a vote of the
Directors representing not less than two-thirds of the total voting
power of the members.
5. Nothing in this Agreement shall preclude the Bank from using the
currency of any member for administrative expenses incurred by the Bank
in the territory of that member.
ARTICLE 24
MAINTENANCE OF VALUE OF THE CURRENCY HOLDINGS
OF THE BANK
1. Whenever the par value in the International Monetary Fund of the
currency of a member is reduced or the foreign exchange value of such cur-
rency has, in the opinion of the Bank, depreciated to a significant extent within
its territories, that member shall pay to the Bank within a reasonable time an
additional amount of its currency sufficient to maintain the value as of the time
of subscription of the amount of such currency which is held or subsequently
received by the Bank (whether or not any such currency is held in the form of
notes or other obligations issued pursuant to paragraph 5 of Article 7) and con-
sisting of, or derived as repayments of principal from, currency originally paid
to the Bank by such member pursuant to paragraph 2(a) or paragraph 2(b) of
Article 7, or any additional currency paid pursuant to the provisions of the
present paragraph; provided, however, that, to the extent that the Bank shall,
in its opinion, have received from any borrower of such currency, or from any
guarantor,amounts paid solely as a result of such reduction in par value or of
such depreciation, the Bank shall pro tanto relieve that member of its obligations
under the present paragraph.
2. Whenever the par value of the currency of a member is increased, the
Bank shall pay to ith n member within a reasonable time an amount of such
currency equal to the-nerease in the value of that amount of the member's
currency held or subsequently received by the Bank to which paragraph 1 of
this Article would be applicable; provided, however, tlat the Bank shall not
be obligated to make such payment to the extent lhat the benefit of any" such
No. 14. Caribbean Deelopmcnt Bank. 1969.
increase in par value shall have been passed on by the Bank to any borrower
or guarantor as a corollary of the obligation of either to make increased pay-
ments to the Bank in case of a decrease in the par value of such currency.
3. The provisions of the preceding two paragraphs may be waived or
deemed inoperative by the Bank when a uniform change in the par values of
the currencies of all its members is made by the Internatoinal Monetary Fund.
4. Amounts paid by a member pursuant to the provisions of paragraph
1 of this Article to maintain the value of any of its currency shall be useable
and convertible to the same extent as the original currency in respect of which
such amounts are paid.
5. In the case of a member whose currency does not have a par value
established with the International Monetary Fund, the initial value of such
currency in terms of dollars shall be as determined by the Bank pursuant to
paragraph 3 of Article 7, or otherwise, for purposes of payments by such
member on account of its subscription. The Bank may, from time to time
thereafter, make a similar determination with respect to the value in terms
of dollars of such currency. For the purposes of the provisions of paragraphs
1 and 2 of this Article, the value so determined from time to time shall be
treated as if it were the par value of such currency.
CHAPTER VI
ORGANIZATION AND MANAGEMENT
ARTICLE 25
STRUCTURE
The Bank shall have a Board of Governors, a Board of Directors, a Presi-
dent, a Vice-President, and such other officers and staff as may be considered
necessary.
ARTICLE 26
BOARD OF GOVERNORS: COMPOSITION
1. Each member shall be represented on the Board of Governors and shall
appoint one governor and one alternate. Each governor and alternate shall
serve at the pleasure of the appointing member. No alternate may vote except
in the absence of his principal. At each annual meeting, the Board of Gov-
ernors shall elect one of the Governori os s Chairnimn 4io shall hold office until
the election of the next Chairman. K
2. Governors and alternates shall serve as such without remuneration
from the Bank. but the Bank may pay them reasonable expenses incurred in
attending meetings.
No. 14. Caribbean Development Bank. 1969.
ARTICLE 27
BOARD OF GOVERNORS: POWERS
1. All the powers of the Bank shall be vested in the Board of Governors.
2. The Board of Governors may delegate to the Board of Directors any
or all its powers, except the power to:
(a) admit new members and determine the conditions of their ad-
mission ;
(b) increase or decrease the authorized capital stock of the Bank;
(c) suspend a member;
(d) decide appeals from decisions regarding the interpretation or
application of this Agreement made by the Board of Directors;
(e) authorize the conclusion of general agreements for co-operation
with Governments and with other international organizations;
(f) elect the directors and the President of the Bank;
(g) determine the remuneration of the directors and their alternates;'
(h) determine the reserves and the distribution of the net profits of
the Bank;
(i) amend this. Agreement;
(j) decide to terminate the operations of the Bank and to distribute
its assets;
(k) select external auditors to certify the general balance sheet and
the statement of profit and loss of the Bank and to select such
other experts as may be necessary to examine and report on the
general management of the Bank;
(1) approve, after reviewing the report of the external auditors, the
general balance sheet and statements of profit and loss of the
Bank; and
(m) exercise such other powers as arc expressly assigned to the Board
of Governors in this Agreement.
3. The Board of Governors shall retain full power to exercise authority
over any matter delegated to the Board of Directors in accordance with para-
graph 2 of this Article.
ARTICLE 28
BOARD OF GOVERNORS: PROdEDURE
1. The Board of Governors shall hold an annual meeting and such other
meetings. as may be provided for by the Board of Governors or called by the
No. 14. Caribbean Development Bank. 1969.
Board of Directors. Meetings of the Board of Governors other than the annual
meeting shall be called by the Board of Directors whenever requested by
a majority of the members of the Bank.
2. A majority of the total number of the governors shall constitute a
quorum for any meeting of the Board of Governors, provided such majority
represents not less than two-thirds of the total voting power of the members.
3. The Board of Governors may by regulation establish a procedure
whereby the Board of Directors, when the latter deems such action advisable,
may obtain a vote of the governors on a specific question without calling
a meeting of the Board of Governors.
4. The Board of Governors may establish such subsidiary bodies as may
be necessary or appropriate for the conduct of the business of the Bank.
ARTICLE 29
BOARD OF DIRECTORS: COMPOSITION
1. (a) The Board of Directors shall be composed of seven (7) members
of whom.
(i) five (5) shall be selected by the governors representing
regional members; and
(ii) two (2) shall be selected by the governors representing non-
regional members.
(b) When other States or Territories become members, the Board of
Governors may, by vote of not less than two-thirds of the total number of the
governors representing not less than three-fourths of the total voting power
of the members, increase the total number of directors.
(c) The directors shall be selected in accordance with the rules of
procedure to be adopted by the Board of Governors by a vote of not less than
two-thirds of the total number of the governors representing not less than
three-fourths of the total voting power of the members. The said rules shall
give effect to the principles relating to regional directors set out in Part I of
Annex B to this Agreement. Until such rules have been adopted, the directors
shall be selected in accordance with Part II of the said Annex B.
2. Directors shall be persons of high competence in economic and finan-
cial matters and shall be selected with due regard to the principle of equitable
geographical distribution.
3. Each director shall appoint an alternate with full power to act for
him when he is not present.
Caribbean Devclopment Bank.
4. Directors shall hold office for a term of two (2) years and shall be
eligible for selection for a further term or terms of office. They shall continue
in office until their successors shall have been selected and assumed office. If
the office of a director becomes vacant before the expiration of his term of office
the vacancy shall be filled by a new director who shall be selected by the
governors representing the members who selected his predecessor and he shall
hold office for the remainder of the term of office of his predecessor.
ARTICLE 30
BOARD OF DIRECTORS: POWERS
The Board of Directors shall be responsible for the direction of the general
operations of the Bank and, for this purpose, shall, in addition to the powers
assigned to it expressly in this Agreement, exercise all the powers delegated
to it by the Board of Governors, and in particular:
(a) prepare the work of the Board of Governors;
(b) in conformity with the general directions of the Board of Govern-
ors, take decisions concerning loans, guarantees, investments in
equity capital, borrowing by the Bank, furnishing of technical
assistance, and other operations of the Bank;
(c) sumbit the accounts for each financial year to the Board of Gov-
ernors at each annual meeting; and
(d) approve the budget of the Bank.
ARTICLE 31
BOARD OF DIRECTORS: PROCEDURE
1. The Board of Directors shall normally function at the principal office
of the Bank and shall meet as often as the business of the Bank may require.
2. A majority of the directors shall constitute a quorum for any meeting
of the Board of Directors, provided that such majority represents not less than
two-thirds of the total voting power of the members.
3. The Board of Governors shall adopt regulations under which a mem-
ber may send a representative to attend any meeting of the Board of Directors
when a matter particularly affecting that member is under consideration.
ARTICLE 32
VOTING
1. Each member shall have 150 votes plus one additional vote for each
share of capital stock held by it.
No. 14.
1969.
No. 14. Caribbean Development Bank. 1969.
2. In voting in the Board of Governors, each governor shall be entitled to
cast the votes of the members he represent. Except as otherwise expressly
provided in this Agreement, all matters before the Board of Governors shall
bM determined by a majority of the voting power of the members represented
at the meeting.
3. In voting in the Board of Directors, each director shall be entitled to
cast the number of votes of the member or members whose votes counted
towards his selection, which votes must be cast as a unit. Except as otherwise
expressly provided in this Agreement, all matters before the Board of Directors
shall be determined by a majority of the voting power of the members repre-
sented at the meeting.
ARTICLE 33
THE PRESIDENT
1. The Board of Governors, by a vote of not less than two-thirds of the
total number of the governors representing not less than three-fourths of the
total voting power of the members, shall elect a President of the Bank. The
President, while holding office, shall not be a governor or a director or an
alternate for either.
2. The term of office of the President shall be for such period not exceed-
ing five (5) years as the Board of Governors may determine. He may be
re-elected. He shall, however, cease to hold office when the Board of Governors
so decides by a vote of not less than two-thirds of the total number of the
governors representing not less than three-fourths of the total voting power
of the members.
3. The President shall be Chairman of the Board of Directors but shall
have no right to vote, except to vote in case of an equal division. He may
participate in meetings of the Board of Governors but shall not vote.
4. The President shall be chief executive officer of the Bank and shall
conduct, under the direction of the Board of Directors, the current business of
the Bank. He shall be responsible for the organization, appointment and dis-
missal of the officers and the staff, subject to the general control of the Board
of Directors.
5. The President and the Vice-President shall be persons possessing
extensive experience in matters relating to finance and development in the
public or private sector.
No. 14. Caribbeaj Devclopment Bank. 1969.
6. In appointing the officers and staff, the President shall, subject to the
paramount importance of securing the highest standards of efficiency and
technical competence, pay due regard to the recruitment of personnel on as
equitable a geographical basis as possible.
ARTICLE 34
THE VICE-PRESIDENT
1. A Vice-President shall,be appointed by the Board of Directors on the
recommendation of the President. The Vice-President shall hold office for
such term, exercise such authority and perform such functions in the admin-
istration of the Bank as may be determined by the Board of Directors. In the
absence or incapacity of the President, or while that office is vacant, the Vice-
President shall exercise the authority and perform the functions of the Presi-
dent.
2. The Vice-President may participate in meetings of the Board of Direc-
tors but shall have no vote at such meetings, except that the Vice-President
shall cast the deciding vote when acting in place of the President.
ARTICLE 35
INTERNATIONAL CHARACTER OF THE BANK:
PROHIBITION OF POLITICAL ACTIVITY
1. The Bank shall not accept loans or assistance that may in any way
prejudice or otherwise alter its purpose or functions.
2. The Bank, its President, Vice-President, officers and staff shall not
interfere in the political affairs of any member, nor shall they be influenced
in their decisions by the political character of the member concerned. Only
economic considerations relevant to the purpose and functions of the Bank
shall be brought to bear upon their decisions. Such considerations shall be
weighed impartially in order to achieve and carry out the purpose and func-
tions of the Bank.
3. The President, Vice-President, officers and staff of the Bank, in the
discharge of their offices, owe their duty entirely to the Bank and to no other
authority. Each member of the Bank shall respect the international character
of this duty and shall refrain from all attempts to influence any of them in
the discharge of their duties.
No. 14. Caribbean Development Bank. 1969.
ARTICLE 36
OFFICE OF THE BANK
1. The principal office of the Bank'shall be located in Barbados.
2. The Bank may establish agencies or branch offices elsewhere.
ARTICLE 37
CHANNEL OF COMMUNICATIONS, DEPOSITORIES
1. Each member shall designate an appropriate official entity with which
the Bank may communicate in connection with any matter arising under this
Agreement.
2. Each member shall designate its central bank, or such other institution
as may be agreed upon with the Bank, as a depository with which the Bank may
keep any of its holdings of the currency of that member as well as other assets
of the Bank,
ARTICLE 38
OFFICIAL LANGUAGE AND REPORTS
1. The official language of the Bank shall be English.
2. The Bank shall transmit to members an Annual Report containing an
audited statement of its accounts and shall publish such Report. It shall also
transmit quarterly to its members a summary statement of its financial position
and a profit and loss statement showing the results of its operations.
3. The Bank may also publish such other reports as it deems desirable
in the carrying out of its purpose and functions. Such reports shall be trans-
mitted to the members of the Bank.
4. The accounts of the Bank shall be audited by external auditors of
high international standing selected by the Board of Governors.
ARTICLE 39
ALLOCATION OF NET INCOME
1. The Board of Governors shall dHtermine at least annually the disposi-
tion of the net income of the Bank arising from its ordinary operations and
what portion thereof, if any, shall be allocated, after making provision for
reserves or other purposes, to surplus, and. what portion, if any, shall, notwith-
standing the provisions of Article 12, be allocated to any special fund, in-
cluding the Special Development Fund, or distributed to the members.
No. 14. Caribbean Development Bank. 1969.
.2 The Board of Governors shall determine at least annually the disposi-
tion of the net income of the Bank arising from its special operations, subject
to any rules or regulations governing each special fund and any agreement
relating thereto.
3. Any distribution of net income under paragraph 1 of this Article shall
be made to each member in the proportion which the total payments made
by that member under paragraph 2(a) of-Article 7 and the average amount
of loans outstanding during the year made out of currency corresponding to
its subscription under paragraph 2(b) of Article 7 bears to the total of such
amounts for all members.
4. Payments shall be made in such manner and in such currency as the
Board of Governors shall determine.
CHAPTER VII
WITHDRAWAL AND SUSPENSION OF MEMBERS;
TEMPORARY SUSPENSION AND TERMINATION
OF OPERATIONS OF THE BANK
ARTICLE 40
WITHDRAWAL
1. Any member may withdraw from the Bank at any time by delivering
a notice in writing to the Bank at its principal office.
2. Withdrawal by a member shall become effective, and its membership
shall cease, on the date specified in its notice, but in no event less than six (6)
months after the date that notice has been received by the Bank. However, at
any time before the withdrawal becomes effective, the member may notify the
Bank in writing of the cancellation of its notice of intention to withdraw.
3. A member which has given notice of its withdrawal fronmThe Bank shall
remain liable for all direct and contingent obligations to the Bank to which it
was subject at the date of delivery of the withdrawal notice. If the withdrawal
becomes effective, the member shall not incur any liability for obligations result-
ing from operations of the Bank effected after the date on which the notice of
withdrawal was received by 'the Bank.
No. 14. Caribbean Development Bacnk. 1969.
ARTICLE 41
SUSPENSION OF MEMBERSHIP
1. If a member fails to fulfil any of its obligations to the Bank, the Board
of Governors may suspend such member by a vote of not less than two-thirds of
the total number of the governors of other members representing not less than
three-fourths of the total voting power of the other members. The member con-
cerned shall have no vote.
2. The member so suspended shall automatically cease to be a member of
the Bank one (1) year from the date of its suspension unless the Board of Gov-
ernors, during that period, decides by the same majority necessary for suspen-
sion to restore the member to good standing.
3. While under suspension, a member shall not be entitled to exercise any
rights under this Agreement, except the right of withdrawal, but shall remain
subject to all its obligations.
ARTICLE 42
SETTLEMENT OF ACCOUNTS
1. After the date on which a State or Territory ceases to be a member, that
former member shall remain liable for its direct obligations to the Bank and for
its contingent liabilities to the Bank so long as any part of the loans or guaran-
tees contracted before it ceased to be a member is outstanding; but it shall not
incur liabilities with respect to loans and guarantees entered into thereafter by
the Bank nor share either in the income or the expenses of the Bank.
2. At the time a State or Territory ceases to be a member, the Bank shall
arrange for the repurchase of such member's shares by the Bank as a part of
the settlement of accounts with such member in accordance with the provisions
of paragraphs 3 and 4 of this Article. For this purpose, the repurchase price
of the shares shall be the value shown by the books of the Bank on the date of
cessation of membership.
3. The repayment for shares repurchased by the Bank under this Article
shall be governed by the following conditions:
(a) Any amount due to the member concerned for its shares shall be
withheld so long as that member, its central bank or any of its-
political sub-divisions or agencies remains liable, as borrower or
guarantor, to lthe Bank and such amount may, at the option of the
No. 14. Caribbean Development Bank. 1969.
Bank, be applied on any such liability as it matures. No amount
shall be withheld on account of the contingent liability of the mem-
ber for future calls on its subscription for shares in accordance
with paragraph 6 of Article 7. In any event, no amount due to a
member for its shares shall be paid until six (6) months after the
date on which its membership ceases.
(b) Payments for shares may be made from time to time, upon their
surrender by the former member concerned, to the extent by which
the amount due to the repurchase price in accordance with para-
graph 2 of this Article exceeds the aggregate amount of liabilities
on loans and guarantees referred to in sub-paragraph (a) of this
paragraph, until the former member has received the full re-
purchase price.
(c) Payments shall be made in such available currencies as the Bank
determines, taking into account its financial position.
(d) If losses are sustained by the Bank on any guarantees or loans
which were outstanding en the date of cessation of membership
and the amount of such losses exceeds the amount of the reserve
provided against losses on that date, the former member con-
cerned shall repay, upon demand, the amount by which the re-
purchase price of its shares would have been reduced if the losses
had been taken into account when the repurchase price was de-
termined. In addition, the former member shall remain liable
on any call for unpaid subscriptions in accordance with para-
graph 6 of Article 7, to the same extent that it would have been
required to respond if the impairment of capital had occurred
and the call had been made at,the time the repurchase price of
its shares was determined.
4. If the Bank terminates its operations pursuant to, Article 44 within
six (6) months of the date upon which the membership of any member ceases,
all rights of the member concerned shall be determined in accordance with
the provisions of Article 44 to 46. That member shall be considered as still
a member for purposes of such Articles but shall have no voting rights.
ARTICLE 43
TEMPORARY SUSPENSION OF OPERATIONS
In an emergency, the Board of Directors may temporarily suspend opera-
tions in respect of new loans and guarantees, pending an opportunity for fur-
ther consideration and action by the Bolrd of Governors.
75 .
No. 14. Caribbean Dcvelopment Bank. 1969.
ARTICLE 44
TERMINATION OF OPERATIONS
1. The Bank may terminate its operations by resolution of the Board of
Governors approved by a vote of not less than two-thirds of the total number
of governors representing not less than three-fourths of the total voting power
of the members.
2. After such termination, the Bank shall forthwith cease all activities,
except those incident to the orderly realization, conservation and preservation
of its assets and settlement of its obligations.
ARTICLE 45
LIABILITY OF MEMBERS AND PAYMENT OF CLAIMS
1. In the event of termination of the operations of the Bank, the liability
o,f all members for uncalled subscriptions to the capital stock of the Bank and
in respect of the depreciation of their currencies shall continue until all claims
of creditors, including all contingent claims, shall have been discharged.
2. All creditors holding direct claims shall first be paid out of the assets
of the Bank and then out of payments to the Bank on unpaid or callable sub-
scriptioans. Before making any payments to creditors holding direct claims,
the Board of Directors shall make such arrangements as are necessary, in its
judgement, to ensure a pro rata distribution among holders of direct and con-
tingent claims.
ARTICLE 46
DISTRIBUTION OF ASSETS
1. No distribution of assets shall be made to members on account of their
subscriptions to the capital stock of the Bank until all liabilities to creditors
shall have been discharged or provided for. Moreover, such distribution
must be approved by the Board of Governors by a vote of not less than two-
thirds of the total number of governors representing not less than three-
quarters of the total voting power of the members.
2. Any distribution of the assets of the Bank to the members shall be in
proportion to the capital stock held by each member and shall be effected at
such times and under such conditions as the Bank shall deem fair and equit-
No. 14. Caribbeamn Development Bank. 1969.
able. The shares of assets distributed need not be uniform as to fype of assets.
No member shall be entitled to receive its share in such a distribution of assets
until it has settled all its obligations to the Bank.
3. Before any distribution of assets is made the Board of Directors shall
value the assets to be distributed as at the date of distribution and then pro-
ceed to distribute in the following manner-
(i) There shall be paid to each member in its own obligations or
those of its official agencies or legal entities within its territories,
insofar as they are available for distribution, an amount equiva-
lent in value to its proportionate share of the total amount to be
distributed.
(ii) Any balance due to a member after payment has been made
under (i) above shall be paid, in its own currency, insofar as it
is held by the Bank, up to, an amount equivalent in value to such
balance.
(iii) Any balance due to a member after payment has been made
under (i) and (ii) above shall be paid in gold or currency
acceptable to the member, insofar as they are held by the Bank,
up to an amount equivalent in value to such balance.
(iv) Any remaining balance due to a member after payment has been
made under (i), (ii), and (iii) shall be satisfied out of the re-
maining assets held by the Bank.
4. Any member receiving assets distributed pursuant to this Article shall
enjoy the same rights with respect to such assets as the Bank enjoyed before
their distribution.
CHAPTER VIII
STATUS, IMMUNITIES, EXEMPTIONS AND PRIVILEGES
ARTICLE 47
PURPOSE OF CHAPTER
To enable the Bank effectively to ftilfil its purpose and carry out the
functions entrusted to it, the status, immunities, exemptions and privileges set
forth in this Chapter shall be accorded to the Bank in the territory of each
member.
No. 14. Caribbcan Development Bank. 1969.
ARTICLE 48
LEGAL STATUS
1. The Bank shall possess full juridical personality and, in particular,
full capacity:
(a) to contract;
(b) to acquire, and dispose of, immovable and movable property; and
(e) to institute legal proceedings.
2. The Bank may enter into agreements with members, non-member
States and other international organizations.
ARTICLE 49
-LEGAL PROCESS
1. The Bank shall enjoy immunity from every form of legal process,
except in cases arising out of or in connexion with the exercise of its powers
to borrow money, to guarantee obligations, or to buy and sell or underwrite
the sale of securities, in which cases actions may be brought against the Bank
in a court of competent jurisdiction in the territory of a member in which the
Bank has its principal or a branch office, or in the territory of a member or
non-member State where it has appointed an agent for the-purpose of accept-
ing service or notice of process, or has issued or guaranteed securities.
2. Notwithstanding the provisions of paragraph 1 of this Article, no
action shall be brought against the Bank by any member, or by any agency
of a member, or by any entity or-perscn directly or indirectly acting for or
deriving claims from a mnwmber. Members shall have recourse to such special
procedures for the settlement of disputes between the Bank and its members
as may be provided for in this Agreement, in bv-laws and regulations of the
Bank, or in contracts entered into with the Bank.
3. The Bank shall also make provision for appropriate modes of settle-
ment of disputes in cases which do not come within the provisions of para-
graph 2 of this Artele and which are subject to the immunity of the Bank
by virtue of paragraph 1 of that Article.
4. The Bank and its property and assets, wheresoever located and by
whomsoever held. shall ho immanne from all forms of seizure, attachment or
execution before the delivery of final judgement against the Bank.
No. 14. Caribbean Development Bank. 1969.
ARTICLE 50
IMMUNITY OF ASSETS
Property and assets of the Bank, wheresoever located by whomsoever
held, shall be immune from search, requisition, confiscation, expropriation or
any other form of taking or foreelosureby executive or legislative action.
ARTICLE 51
IMMUNITY OF ARCHIVES
The Archives of the Bank and, in general, all documents- belonging to it,
or held by it, shall be inviolable, wherever located.
ARTICLE 52
FREEDOM OF ASSETS FROM RESTRICTIONS
To the extent necessary to carry out the purpose and functions of the
Bank effectively and subject to the provisions of this Agreement, the Bank
(a) may hold assets of any kind and operate accounts in any cur-
rency;
(b) shall be free to transfer its assets from one country to another
or within any country and to convert any currency held by it
into any other currency,
without being restricted by financial controls, regulations or moratoria of any-
kind.
ARTICLE 53
PRIVILEGE FOR COMMUNICATIONS
Official communications of the Bank shall be accorded by each member
treatment not less favourable than that it accords to the official communica-
tions of any other, member.
ARTICLE 54
IMMUNITIES AND PRIVILEGES OF BANK PERSONNEL
All governors, directors, alternates, .1i. I1, and employees of, and experts
performing missions for. the Bank:
(a) shall be immune from lei'al process will respect to acts performed
by them in their official capacity;
No. 14. Caribbean Development Bank. 1969.
(b) where they are not local citizens or nationals, shall be accorded
such immunities from immigration restrictions, alien registration
requirements and national service obligations, and such facilities
.as regards exchange regulations, as are not less favourable than
those accorded by the member concerned to the representatives,
officials and employees of comparable rank of any other member;
(c) shall be given such repatriation facilities in time of international
crisis as are not less favourable than those accorded by the mem-
ber concerned to the representatives, officials and employees of
comparable rank of any other member.
ARTICLE 55
EXEMPTION FROM TAXATION
1. The Bank, its assets, property, income and its operations and trans-
actions, shall be exempt from all direct taxation and from all customs duties
on goods imported for its official use.
2. Notwithstanding the provisions of paragraph 1 of this Article, the
Bank will not. claim exemption from taxes which are no more than charges for
public utility services.
3. The Bank will not normally claim exemption from excise duties, and
from taxes on the sale of movable and immovable property, which form part
of the price to be paid. Nevertheless, when the Bank is making important
purchases for official use of property on which such duties and taxes have been
charged or are chargeable, members will, whenever possible, make appropriate
administrative arrangements for the remission or return of the amount of duty
or tax.
4. Articles imported under an exemption from customs duties as pro-
vided by paragraph 1 of this Article, or in respect of which a remission or
return of duty or tax has been made under paragraph 3, shall not be sold in
the territory of the member which granted the exemption, remission or return
except under conditions agreed with that member.
5. No tax shall be levied on or in respect of salaries and emoluments
paid by the Bank to directors, alternates, officers or employees of the Bank,
including experts performing missions for the Bank, but members reserve the
right to tax their own citizens or nationals or persons permanently resident
in the territories of such members.
No. 14. Caribbean Decclopment Bank. 1969.
6. No tax of any kind shall be levied on any obligation or security issued
by the Bank,including any dividend or interest thereon, by whomsoever held-
(a) which discriminates against such obligation or security solely
because it is issued by the Bank; or
(b) if the sole jurisdictional basis for such taxation is the place or the
currency in which it is issued, made payable or paid, or the
location of any office or place of business maintained by the
Bank.
7. No tax of any kind shall be levied on any obligation or security guar-
anteed by the Bank, including any dividend or interest thereon, by whomsoever
held- -
(a) which discriminates against such obligation or security solely
because it is guaranteed by the Bank; or
(b) if the sole" jurisdictional basis for such taxation is the location of
any office or place of business maintained by the Bank.
ARTICLE 56
IMPLEMENTATION
Each member shall promptly inform the Bank of the action which it has
taken to make effective the provisions of this Chapter in its territory.
ARTICLE 57
WAIVER OF IMMUNITIES, EXEMPTIONS AND PRIVILEGES
The immunities, exemptions and privileges provided in this Chapter are
granted in the interests of the Bank. The Board of Directors may waive to
such extent and upon such conditions as it may determine, the immunities,
exemptions and privileges provided in this Chapter in cases where such action
would, in its opinion, be appropriate in the best interests of the Bank. The
President shall have the right and the duty to waive any immunity, exemption
or privilege in respect of any officer or employee of, or any expert performing
a mission for, the Bank where, in his opinion, the immunity, exemption or
privilege would impede the course of justice and can be waived without
prejudice to the interests of the Bank. In similar circumstances and under the
same conditions, the Board of Directors shall have the right and duty to waive
any immunity, exemption or privilege respecting the President and the Vice-
President.
No. 14. Caribbean Development Bank. 1969.
CHAPTER IX
AMENDMENTS, INTERPRETATION, ARBITRATION
ARTICLE 58
AMENDMENTS
1. This Agreement may be amended only by a resolution of the Board of
Governors adopted by a vote of not less than two-thirds of the total number of
governors representing not less than three-fourths of the total voting power
-of the members.
2. Notwithstanding the provisions of paragraph 1 of this Article, the
unanimous agreement of the Board of Governors shall be required for the
adoption of any amendment modifying:
(a) the right to withdraw from the Bank;
(b) the limitations on liability provided in paragraphs 7 and 8 of
of Article 6; and
(c) the rights pertaining to the subscriptions of capital stock pro-
vided in paragraph 3 of Article 6.
3. Any proposal to amend this Agreement, whether emanating-fiom a
member or from the Board of Directors, shall be communicated to the Chair-
man of the Board of Governors, who shall communicate the proposal to each
member and then bring it before the Board of Governors. When an amend-
ment has been adopted, the Bank shall certify it in a formal communication
addressed to all members. Amendments shall enter into force for all members
three (3) months after the date of the formal communication unless the Board
- of Governors specifies therein a different period.
4. The foregoing provisions of this Article shall be subject to the terms
of the Protocol annexed hereto which shall have effect only for the purposes'
and during the meeting specified therein.
ARTICLE 59
INTERPRETATION AND APPLICATION
1. Any question of-interpretation or application of the provisions of this
Agreement not otherwise expressly provided for shall be submitted to the
Board of Directors for decision. A member particularly affected by the
No. 14. Caribbean Development Bank. 1969.
question under consideration shall have the right to make direct representa-
tion to the Board of Directors at the meeting of the Board at which the question
is considered. Such right shall be regulated by the Board of Governors.
2. In any case where the Board of Directors has given a decision under
paragraph 1 of this Article, any member may require that the question be
referred to the Board of Governors, whoAe decision shall be final. Pending the
decision of the Board of Go,vernors, the Bank may, so far as it deems it neces-
sary, act on the basis of the decision of the Board of Directors.
ARTICLE 60
ARBITRATION
If a dispute should arise between the Bahk and a State or Territory which
ceases to be a member, or between the Bank and any member after adoption
of a resolution to terminate the operations of the Bank, such dispute shall be
submitted to arbitration by a tribunal of three arbitrators. Each Party shall
appoint one arbitrator, and the two, arbitrators so appointed shall appoint the
third, who shall be C( io .ii.. If within thirty days of the request for arbitra-
tion either party has not appointed an arbitrator or if within fifteen days of
the appointment of two arbitrators the third arbitrator has not been appointed,
either party may request the President of the International Court of Justice,
or such other authority as may have been prescribed by regulations adopted
by the Board of Governexs, to appoint an arbitrator. The procedure of the
arbitration shall be fixed by 'the arbitrators. However, the third arbitrator
shall be empowered to settle all questions of procedure in any case of disagree-
ment with respect thereto. A majority vote of the arbitrators shall be sufficient
to reach a decision which shall be final and binding upon the parties.
ARTICLE 61
APPROVAL DEEMED GIVEN
Whenever the approval of any member is required before any act may be
done by the Bank, approval shall be deemed to have been given unless the
member presents an objection within such reasonable period as the Bank may
fix when notifying the member of the proposed act.
No. 14. Caribbean Dcvelopmcnt Bank. 1969.
CHAPTER X
FINAL PROVISIONS
ARTICLE 62
SIGNATURE AND DEPOSIT
1. This Agreement shall be deposited with the Secretary-General of the
United Nations (hereinafter called the "Depository") 'and shall remain open
until 14th November, 1969 for Tignature by the Governments -lited in Annex A
to this Agreement.
2. In the ease of Territories in the region which are not fully responsible
for the conduct of their international relations and where the Government of
the State responsible for the conduct of the international relations of the Terri-
tory does not sign, ratify, or accede to this Agreement on its behalf, such
Territory shall at the time of signing or acceding to this Agreement in pur-
suance of Article 63 present an instrument issued by the Government of the
State responsible for the conduct of the international relations of that Territory
confirming that the latter has authority to conclude this Agreement and to
assume rights and obligations under it.
3. The Depository shall transmit certified copies of this Agreement to all
the signatories and other States and Territories which become members of the
Bank.
ARTICLE 63
RATIFICATION, ACCEPTANCE, ACCESSION AND ACQUISITION
OF MEMBERSHIP
1. (a) This Agreement shall b1 subject to ratification or acceptance by
the signatories, Instruments of ra ifieation or a ceptance shall be
deposited 1)y ihe signatories with the Deposioiry before 30
April 1970. The Depository shall notify the other signatories of
each deposit and the date thereof.
(b) A signatory whose instrument of ratification or acceptance is
deposited on or before the date onil which this Agre'ement enters
into force, shall become a member ol' Iihe Bank on that date, and
a signatory whose instrument of ratification' or acceptance is de-
posiled after that date, bolnt ore "30 April 1970. shall become
a member on their date of deposit ofd it, instrlilmet oi' ratification
or acceptance.
No. 14. Ccaribbca Dceclopment Bank. 1969.
2.- After 30 April 1970 a State or Territory may become a member of
the Bank by accession to this Agreement on such terms as the Board of Gov-
ernors shall determine in accordance with paragraph 3 of Article 3. Any
such State or Territory shall depo-it, on or before a date appointed by the
Board, an instrument of accession with the Depository who shall notify such
deposit and the date thereof to the Bank and to the parties to this Agreement.
Upon such deposit, the State or Territory shall become a member of the Bank
on the appointed date in accordance with that paragraph.
3. A member may, when depositing its instrument of ratification or
acceptance, declare that in its territory the immunity conferred by paragraph
1 of Article 49 and sub-paragraph (a) of Article 54 shall not apply in relation
to a civil action arising out of an accident caused by a motor vehicle belonging
to the Bank or operated on its behalf or to a traffic offence committed by the
driver o,f such a vehicle.
The member may also declare that the privilege conferred by Article 53
shall be restricted in its territory to treatment not less favourable than the
member accords to international financial institutions of which it is a member,
and that the exemption referred'-o in paragraph 6(b) of Article 55 snall not
-extend to any bearer instrument issued by the Bank in its territory or issued
elsewhere by the Bank and transferred in its territory.
ARTICLE 64
ENTRY INTO FORCE
This Agreement shlill enter :nto force upon the deposit of instruments of
ratification or acceptance by eight (,S) signatories, including at least one non-
regional State, whose initial sb .criptions, as set forth in Annex A to this
Agreement, in aggregate comprise not less than sixty (60) per cent of the
authorized capital stock of the Bank. provided that 1st December 1969 shall be
the earliest date on which this Agreement may enter into force.
ARTICLE 65
INAUGURAL MEETING
As soon as this Agreement enters into force, each member shall appoint
a governor, and the Sere itary-(Geeral] of I lie Comonwm-alith Caribbean Region,
al Secretariat shall call the inaligaritI meeting of Ihe Board of (Governors.
IN WITNESS WHEREOF the undersigned plenipotentiaries, being duly
authorized thereto by their respective Governments, have signed the present
Agreement.
DONE AT Kingston, Jamaica, this eighteenth day of October, one thous-
and nine hundred and sixty-nine.
For ANTIGUA
V. C. BIRD
For BAHAMAS
CARLTON E. FRANCIS
For BARBADOS
ERROL W. BARROW
For BRITISH HONDURAS
A. A. HUNTER
For BRITISH VIRGIN ISLANDS
IVAN DAWSON
For CANADA
PAUL MARTIN
No. 14.
Caribbean Development Bank.
1969.
86
No. 14. Caribbean Development Bank. 1969.
For CAYMAN ISLANDS
D. V. WATER
For DOMINICA
E. 0. LEBLANC
For GRENADA
GEO. F. HOSTEIN
For GUYANA
P. A. REID,
For JAMAICA
E. SEAGA
For MONTSERRAT
W. H. BRAMBLE
For ST. KITTS-NEVIS-ANGUILLA
ROBT. L. BRADSHAW
For ST. LUCIA
J. C. -COMPTON
87
No. 14. Caribbean Development Bank. 1969.
For ST. VINCENT
HUDSON K. TENNIS
For TRINIDAD AND TOBAGO
KAMALUDDIN MOHAMMED
For TURKS AND CAICOS ISLANDS
R. E. WAINWRIGHT
For UNITED KINGDOM
GEORGE THOMPSON
88
Caribbean Development Bank.
No. 14.
1969.
ANNEX A
States and Territories which may become Members in accordance with
paragraph 2 of Article 3, and their initial subscriptions to the Authorized
Capital Stock.
(A'rticle 6, Paragraph 1)
CATEGORY A
Regional States and Territories
No. of Shares
Jamaica 2,240
Trinidad and Tobago 1,540
Bahamas 660
Guyana 480
Barbados 280
Antigua 100
British Honduras 100
Dominica 100
Grenada 100
St. Kitts-Nevis Anguilla 100
St. Lucia 100
St. Vincent 100
Monsferrat 25
British Virgin Islands 25
Cayillan Isbillids 25
Turks and Caieos slaqnds 25
Sub-Total -,,,,
CATEGORY B
Non-Regional States
No. of Shares
1. Canada 2,000
2. United Kingdom 2,000
Sub-Total 4,000
Grand Total 10,000
89
No. 14. Caribbean Development Bank. 1969.
ANNEX B
SELECTION OF DIRECTORS
PART I-Principles for the Selection of Directors Representing Regional Members
Of the five (5) directors to be selected pursuant to paragraph 1 (a) (i) of
Article 29:
(a) one (1) director shall be selected by each of the governors repre-
senting the two (2) regional members having the largest number
of shares of the capital stock of the Bank.
(b) three (3) shall be selected by the Governors representing the other
regional members.
PART II-Selection of Directors Pending Adoption of the Rules of Procedure
1. Regional Members:
(a) one (1) director shall be selected by the governor representing
Jamaica;
(b) one (1) 'director shall be selected by the governor representing
Trinidad and Tobago;
(c) one (1) director shall be selected jointly by the governors repre-
senting Guyana and Barbados;
(d) one (1) director shall be selected jointly by the governors repre-
senting Bahamas and British Honduras; and
(e) one (1) director shall be selected jointly by the governors repre-
senting
Antigua
British Virgin Islands
Cayman Islands
Dominica
Grenada
Montserrat
St. Kitts-Nevis-Anguilla
St. Lucia
St. Vincent
Turks and Caicos Islands
2. Non-Regional Members:
(a) one (1) director shall be selected by the governor representing
Canada; and
(b) one (1) director shall be selected by the governor representing
the United Kingdom.
No. 14. Caribbean Development Bank. 1969.
Protocol to Provide for Procedure for Amendment of Article 36 of
the Agreement Establishing the Caribbean Development Bank at the
Inaugural Meeting of the Board of Governors.
The States and Territories parties to the Agreement establishing the
Caribbean Development Bank (hereinafter referred to as "the Agreement")
hereby agree that notwithstanding the provisions of Article 58 of the Agree-
ment, paragraph 1 of Article 36 of the Agreement may be amended at the
inaugural Meeting of the Board of Governors of the Caribbean Development
Bank by a Resolution (on a motion which shall not be subject to amendment
and moved by the Governor for Jamaica) approved by the vote of a simple
majority of the Governors present and voting thereon representing more than
one-half of the voting powers of the Governors present and voting thereon.
Passed in the House of Assembly this 11th day of December, 1969.
0. S. BARROW,
Clerk of the House of Assembly.
PRINTED BY THE GOVERNMENT -PRINTER AT THE GOVERNMENT PRINTING OFFICE,
KINGSTOWN, ST. VINCENT.
[ Price $1.84. ]
1970.
SAINT VINCENT.
STATUTORY RULES AND ORDERS,
1970, No. 18.
(Gazetted 14th April, 1970).
BY THE GOVERNOR.
A PROCLAMATION.
[L.S.]
H. GEORGE,
Governor.
WHEREAS it is enacted by section 2 of the Banana (Protection and
Quality Control) Act, 1969 (No. 13 of 1969) that the said Act shall come into
operation on such day as the Governor may'appoint by proclamation published
in the Gazette.
NOW THEREFORE, I, HYWEL GEORGE, Governor of Saint Vincent,
pursuant to the authority vested in me by the said Act do hereby proclaim
that the aforesaid Act shall come into operation on the 14th day of April, 1970.
GIVEN under my hand and the Public Seal of Saint Vincent at Govern-
ment House in Saint Vincent this 9th day of April, One thousand
nine hundred and seventy and in the Nineteenth Year of the Reign
of Her Majesty QUEEN ELIZABETH THE SECOND.
GOD SAVE THE QUEEN!
PRINTED BY THE GOVERNMENT PRINTER AT THE GOVERNMENT PRINTING OFFICE,
KINGSTOWN, ST. VINCENT.
[ Price 4 cents. ]
1970.
SAINT VINCENT.
STATUTORY RULES AND ORDERS,
1970, No. 19.
SCHOLARSHIPS TO SECONDARY SCHOOLS REGULATIONS.
(Gazetted 14th Apfil, 1970).
1. Short title. These Regulations may be cited as the Scholarships to
Secondary Schools Regulations, 1970.
2. Award and tenure of Scholarships. (1) The Governor may award
scholarships to candidates attending Government or Assisted Primary Schools
or Registered Private Schools. Scholarships shall be tenable at a Government
Secondary School for a period of 6 years, provided that the scholar's atten-
dance, conduct and progress as shown by the term reports are considered satis-
factory.
(2) In any case where he deems fit the Governor may extend any schol-
arship beyond the period of 6 years.
3. Revocation. (1) Regulation 2 above, replaces regulation 2 of the
Scholarship to Secondary Schools Regulations, 1949, and regulation 23 (1) of
the Government and Assisted Primary Schools Regulations, 1959, which are
hereby revoked.
(2) The Government and Assisted Primary Schools (Amendment) Regu-
lations, 1969, are also hereby revoked.
Made by the Governor in Consultation with the Board of Education under
.section 29 of the Education Ordinance, 1937, this 20th day of March, 1970
C. I. MARTIN,
Secretary to the Cabinet.
Approved by resolution of the House of Assembly under section 30 of the
Education Ordinance, 1937, this 9th day of April, 1970.
0. S. BARROW,
Clerk of the House of Assembly.
(SCH/001/02).
PRINTED BY THE GOVERNMENT PRINTER AT THE GOVERNMENT PRINTING OFFICE,
KINGSTOWN, ST. VINCENT.
[ Price 4 cents. ]
1970.
67
SAINT VINCENT.
STATUTORY RULES AND ORDERS,
1970, No.-20.
GOVERNMENT SECONDARY SCHOOLS REGULATIONS.
(Gazetted 14th April, 1970).
1. Short title. These Regulations may be cited as the Government Sec-
ondary Schools Regulations, 1969.
2. Interpretation. In the e Regulations-
(1) "Government Secondary School" or "School" means the St. Vin-
cent Grammar School, the St. Vincent Girl's High School and all
other Government Secondary Schools;
"headmaster" shall include headmistress;
"Minister" means the member of the Cabinet for the time being
charged with the administration of the subject of education.
(2) These Regulations shall be read as one with-
(a) The St. Vincent Grammar School Regulations, 1941 (S.R. & 0.
1941, No. 23) and all amendments thereto;
(b) The St. Vincent Girls High School Regulations, 1962 (S.R. & 0.
1962, No. 14) and all amendments thereto; and
(c) The Government and Assisted Primary Schools Regulations, 1959
(S.R. & 0. 1959, No. 44) and all amendments thereto.
3. Qualification for admission to School. (1) At a convenient date
prior to the commencement of a new school year, there shall be held one ex-
amination for selecting pupils for admission to the Government Secondary
Schools.
(2) The date of the examination shall, from year to year, be fixed by
the Minister after consultation with the Board of Education.
(3) The same examination shall be held for the award of scholarships
to Government Secondary Schools and for selecting pupils for admission to
such schools.. :.7-:,.
(4) The exarn eatioh .hidllbe. conducted by a Board of Examiners ap-
pointed by the Minister eating oir th. advice of the Chief Education Officer.
(5) The candidates for the examination shall not be less than 10 years
X 6 months old nor inmoe than 13 years 6 months old on the 30th day of Septem-
ber in the examplation vear. ... _,
S ,, ,i.
k. ,
68
(6) Each candidate for the examination shall produce, before the ex-
amination at a convenient time and place to be specified in the notice advertis-
ing the examination, his baptismal or birth certificate to the proper authority
for scrutiny. The certificate produced shall be returned in due course to the
candidate or his parent.
(7) A candidate who has passed the examination shall be placed in
any form of the school in which the headmaster thinks the candidate may best
profit from instructions given in the school.
(8) The headmaster shall not admit any pupil to the school who does
not attain the necessary qualifications to permit of the pupil profiting from
the instructions given at the school.
4. Age limit. No pupil shall, except with the consent of the Governing
Body of the school, remain at school after the end of the year in which he at-
tains the age of nineteen years.
5. Failure to profit from instructions. Where in the opinion of the
headmaster, a pupil faiWk to profit from'instructions given in, the school, and
falls materially below the average standard of attainments proper to his age
and position in the school, the headmaster may, having obtained the approval
of -he Govetrning body of the school, effcc't the pipil's r.emoa l from the school.
6. Revocations and Replacements-
(a) Regulation 5 of the Scholarships to Secondary Schools Regulations,
1949, (S.R. & 0. 1949, No. 41) is hereby revoked and replaced with
the following:-
"5. Scholarships to be awarded on competitive basis.
The scholarships shall be awarded on a competitive basis
on the results of the examination to be held and conducted
under the Government Secondary Schools Regulations,
1969."
(b) Regulation 6 of the Scholarships to Secondary Schools Regula-
tions, 1949, (S.R. & O. 1949, No. 41) is hereby revoked and re'
placed with the following:-
"6. Qualifications for sitting examination as candidate for
Scholarship award.
Each candidate shall-
(a) be not less than 10 years 6 months nor more than 12 years
6 months old on the 30th day of September in the examina-
tion year.
(b) have attended at a Government or assisted Primary or Pri-
vate School (which satisfies ihe requirements of the
69
Board. of Education during the twelve months preceed-
ing the 15th day of July in the year in which the examina-
tion is held) for not less than severrty-five per centum of
the maximum attendance possible during such period, as
shown in the attendance register to be kept in any such
school: Provided that the Education Officer shall be em-
powered, in his discretion, to accept for examination any
candidate who, through illness, has failed to comply with
the requirements of this paragraph with respect to the
number of attendances;
(c) furnish a certificate of good conduct by the Head Teacher
or Head Teachers of such school or schools;
(d) furnish proof that he or she-
(i) is a native of St. Vincent, or
(ii) is a child of such a native, or
(iii) has been resident in St. Vincent for at least two
years.
7. Revocation. The following regulations are hereby revoked-
(a) regulations 17, 19 and 20 of the St. Vincent Grammar School
Regulations, 1941 (S.R. & 0. 1941, No. 23)
(b) regulations 16, 18, 19, and 20 of the St. Vincent Girls High School
Regulations, 1962 (S.R. & 0. 1962, No. 14) ; and
(c) regulation 23 (6) (a) of the Government and Assisted Primary
Schools Regulations, 1959 (S.R. & 0. 1959, No. 44).
Made by the Governor in consultation with the Board of Education under
section 29 of the Education Ordinance, 1937, this 20th day of March, 1970.
C. I. MARTIN,
Secretary to the Cabinet.
Approved by resolution of the House of Assembly under section 30 of the
Education Ordinance, 1937, this 9th day of April, 1970.
O. S. BARROW,
Clerk of the House of Assembly.
PRINTED BY THE GOVERNMENT PRINTER AT THE GOVERNMENT PRINTING OFFICE,
KINGSTOWN, ST. VINCENT.
[ Price 12 cents. ]
1970.
|
