Revised Laws of Saint Lucia (2021)

10.   Functions of collector

1.  

   (1)   A collector shall —

   1.  

      (a)     establish and maintain an accounts payable system to handle the development charge revenue;

   1.  

      (b)     account for the development charge revenue separately and the development charge revenue must not be commingled with the collector's other sources of revenue;

   1.  

      (c)     segregate the development charge revenue in a designated separate development charge account;

   1.  

      (d)     subject to section 11, pay to the Authority the development charge revenue recorded in the accounting system of the collector no later than the last day of the following calendar month or if that date falls on a weekend or holiday, the first subsequent business day; and

   1.  

      (e)     provide monthly reports to the Authority unless otherwise agreed by the collector and the Authority providing an accounting of funds collected and funds paid.

1.  

   (2)   A report under subsection (1)(e) must, unless otherwise agreed by the collector and the Authority —

   1.  

      (a)     state —

      1.  

         (i)     the name of the collector and airport involved,

      1.  

         (ii)     the total development charge revenue collected,

      1.  

         (iii)     the total development charge revenue refunded to travellers, and

      1.  

         (iv)     the dates and amounts of each payment for the month;

   1.  

      (b)     be filed by the last day of each month.

1.  

   (3)   The development charge revenue is held by a collector after collection in trust for the beneficial interest of the Authority and the carrier does not hold the legal or equitable interest in the development charge revenue.

1.  

   (4)   A collector that fails to comply with a requirement of this section or causes the Authority to spend funds to recover or retain payment of the development charge revenue shall compensate the Authority for the cost incurred to recover the charge owed and is subject to an interest charge on outstanding development charge revenues for the period until revenues are paid to the Authority.