RESOLUTION OF PARLIAMENT TO WRITE OFF DEBT OWED TO THE GOVERNMENT BY FOND ST. JACQUES CREDIT CO-OPERATIVE SOCIETY LTD. FOR THE MOCHA HOUSING DEVELOPMENT PROJECT – SECTION 54(1)
Commencement [19 July 2022]
RESOLUTION
WHEREAS it is provided by section 54(1) of the Public Finance Management Act, that the Minister of Finance may, by an affirmative Resolution of Parliament, write off losses of public monies, public assets or other moveable property belonging to the Government or provided for the public service, or abandon or remit a claim by or on behalf of the Government or a public service provided, where the amount is $10,000 or more;
AND WHEREAS the Fond St. Jacques Credit Co-operative Society Ltd. is indebted to the Government in the sum of EC$546,264.00 with respect to the Mocha Housing Development Project;
AND WHEREAS the Minister of Finance considers it necessary to write off the debt owed to the Government by the Fond St. Jacques Credit Co-operative Society Ltd. with respect to the Mocha Housing Development Project;
BE IT RESOLVED that Parliament authorizes the Minister of Finance to write off the debt in the sum of EC$546,264.00 owed to the Government by the Fond St. Jacques Credit Co-operative Society Ltd. with respect to the Mocha Housing Development Project.