(1) This Part —
(a) applies to a claim in the Commercial Division of the Supreme Court sitting in the Member State of Saint Lucia;
(b) regulates the procedure of the Commercial Division of Saint Lucia in which this Part has come into effect; and
(c) shall be read with the practice directions made for the purposes of this Part.
(2) Subject to paragraph (3), a “commercial claim” means any claim, application or petition arising out of the transaction of trade and commerce and includes any claim relating to —
(a) a commercial contract;
(b) a provision of the law governing —
(i) a company,
(ii) an international business company,
(iii) a domestic and international banking and financial service,
(iv) a domestic insurance, re-insurance and international insurance,
(v) a domestic and international mutual fund,
(vi) a domestic and international trust,
(vii) a registered agent and trustee licensing, and
(viii) the registration of business names;
(c) a partnership;
(d) an insolvency;
(e) carriage of goods by sea, air or pipeline;
(f) exploitation of natural resources;
(g) operation of markets and exchanges including securities markets and exchanges;
(h) mercantile agency and usages;
(i) an intellectual property right;
(j) unfair competition; and
(k) arbitration.
(3) Subject to paragraph (4), in order for a claim to qualify as a commercial claim, the claim or value of the subject matter to which the claim relates must be $200,000.00 or above; except that the amount referred to in this paragraph may be varied with respect to Saint Lucia by the Chief Justice and two other judges by notice in the Gazette.
(4) The judge may include on the commercial list a claim that does not satisfy the value under paragraph (3).