Revised Laws of Saint Lucia (2021)

2.   Interpretation

In this Act—

“approved enterprise” means an enterprise declared by order of the Cabinet under section 6 for the purpose of conferring a benefit under this Act;

“approved product” means a product declared by order of the Cabinet under section 5 for manufacture by an approved enterprise;

“approved service” means a service declared under section 5; (Inserted by Act 30 of 2019)

“benefit” means any relief granted to an approved enterprise under this Act;

“Common Market” means until 1 May 1974, all States referred to in Schedule 1 and thereafter such of those States that are parties to the Treaty establishing the Caribbean Common Market;

“construction day” means the day specified in an Order made under section 6; (substituted by Act 3 of 2013)

“enclave enterprise” means an enterprise producing exclusively for export to countries outside the Common Market;

“enterprise” means a company incorporated under the laws of Saint Lucia and engaged or about to engage in an industry;

“Group I Enterprise” means an enterprise in respect of which the local value added is at least 50% of the amount realised from the sales of an approved product;

“Group III Enterprise” means an enterprise in respect of which the local value added is at least 25% but less than 50% of the amount realised from the sales of an approved product;

“Group III Enterprise” means an enterprise in respect of which the local value added is at least 10% but less than 25% of the amount realised from the sales of an approved product;

“industry”—

1.  

   (a)     means a service, manufacturing or processing industry;

1.  

   (b)     includes deep sea fishing and shrimping if deep sea fishing and shrimping form part of an integrated processing operation;

1.  

   (c)     does not include agriculture and tourism;

(Substituted by Act 30 of 2019)

“local value added” means the amount (expressed as a percentage of the total sales of an approved product) by which the amount realised from the sales of an approved product over a continuous period of 12 months, exceeds the aggregate amount of the following—

1.  

   (a)     the value of imported raw materials, content of components and parts thereof, fuels and services;

1.  

   (b)     wages, salaries or both paid during the 12 month period to persons who are not nationals of a Member State;

1.  

   (c)     profits distributed or remitted directly or indirectly to persons (including companies) who are not resident in a Member State;

1.  

   (d)     interest, management charges and other income payments or any of them accruing directly or indirectly to persons (including companies) who are not resident in a Member State, other than a branch or agency of a bank not resident in a Member State;

1.  

   (e)     depreciation in the imports of plant, machinery and equipment, or any of them;

“Member State” means a State listed in Schedule 1;

“Minister” means the member of the Cabinet to whom responsibility for industry is assigned;

“national” means a person who is a citizen of a Member State and includes a person whose connection with such a state entitles him or her to be regarded as belonging to, or being a native or resident of the State for the purposes of the laws relating to immigration in force;

“production day” means the day on which an approved enterprise commences production of an approved product;

“sale” means the proceeds of sale ex-factory of on approved product exclusive of the cost of distribution.

“service” means a service specified in Schedule 1A. (Inserted by Act 30 of 2019)