Revised Laws of Saint Lucia (2021)

2.   Interpretation

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   (1)   In this Act—

“approved developer” means any person approved by the Minister to carry out work in a special development area in accordance with section 4;

“development period” means a period of not more than 10 years prescribed by the Minister under section 3(3);

“improvement works” means the construction or improvement of a building or structure in a special development area but does not include the relocation of an existing business to a special development area;

“investor” means any person other than a commercial bank who by means of a loan or otherwise provides funding for the carrying out of improvement works in a special development area;

“Minister” means Minister of finance;

“special development area” means an area specified in Schedule 1.

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   (2)   For the purposes of this Act “industrial building” or “structure” is a building or structure in use or purchased, constructed, re-constructed, altered, or adapted to be used for the purposes of—

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      (a)     the operation of a dock;

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      (b)     an undertaking for the generation, transformation, conversion, transmission or distribution of electrical energy;

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      (c)     a trade carried on in a mill, factory or other similar premises;

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      (d)     a trade which consists in the manufacture of goods or materials or the subjection of goods or materials to any process;

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      (e)     a trade which consists in the storage of goods or materials—

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         (i)     which are to be used in the manufacture of other goods or materials,

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         (ii)     which are to be subjected in the course of trade to any process, or

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         (iii)     which, having been manufactured or produced or subjected in the course of trade to any process, have not been delivered to a purchaser;

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      (f)     a trade which consists in the working of any mine, or other source of natural deposits capable of being lifted or extracted from the earth;

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      (g)     scientific research exclusively;

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      (h)     computer software industries, data processing industries or agro-processing industries;

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      (i)     the catching or taking of fish including shell fish; or

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      (j)     a business of agriculture, including horticulture and the use of land for the purposes of husbandry including the keeping or breeding of livestock and poultry or the growing of crops of fruits or vegetables,

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   whether or not such building or structure is provided by the person carrying on such trade or undertaking for the welfare of workers employed in that trade or undertaking and in use for that purpose.

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   (3)   For the purpose of subsection (2), an industrial building or structure does not include any building or structure in use as a dwelling-house or part of a dwelling-house, retail shop, premises used for making repairs, showroom, hotel or office, or for any purpose ancillary or the purposes for which a dwelling-house, retail shop, premises used for making repairs, showroom hotel or office is used.

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   (4)   Where part only of a building is used for the purposes of a qualifying business, and the capital expenditure on that part of the building which is not so used—

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      (a)     does not exceed 11% of the total capital expenditure the whole of the building shall be deemed to be used for the purposes of a qualifying business;

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      (b)     exceeds 11% but does not exceed 75% of the total capital expenditure, then the portion of such expenditure qualifying for deduction under this Part shall be such proportion of such expenditure as the part of the building so used for the purposes of a qualifying business bears to the entire building;

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      (c)     exceeds 75%, then the entire building shall be deemed not to be used for the purposes of a qualifying business.