Belize Port Authority claims Definitive Agreement bypassed them
As Stake Bank Enterprise awaits a reaction from the government on their request to declare its Definitive Agreement with Portico Enterprise, as invalid, the Belize Port Authority has issued a release on the agreement. This release issued today, possibly adds to the invalidity of the Definitive Agreement as it seems the parties involved in signing the initial agreement, and the current administration intent on carrying it through, both bypassed the Belize Port Authority. According to the BPA, they have been following the local news on the Definitive Agreement, and they have found it necessary to declare that they were never consulted on the matter. As a matter of fact, the BPA says that not only were they not consulted when the agreement was brokered, but they were also not consulted on the proposed legislation that would have given legal power to the terms of the agreement. The release from the Belize Port Authority noted that, “part of the license-granting process is meaningful consultations with the BPA as the regulators of ports. The Belize Port Authority therefore informs the general public that the developers of the Port of Magical have not applied for, nor have they been granted a license for the construction and operation of a private port as required by the Belize Port Authority Act.” End of quote.