Section 1

48 Commissions of Inquiry (Gazetted 23rd December, 2006.) To: WHEREAS, by Statutory Instrument No. 24 of 2005, Gazetted on the 12th March, 2005, a Commission of Inquiry, consisting of the late Mr. David Price as Chairman, and Mr. Herbert Lord and Ms. Merlene Bailey Martinez as Commissioners, was appointed to conduct a full, faithful and impartial inquiry into the operations of the Development Finance Cooperation with particular reference to its loans and securitization portfolios; AND WHEREAS, the late Mr. David Price unfortunately passed away on December 12th, 2006, when the inquiry was nearing completion and it would not be expedient to appoint another Commissioner in his place at this late stage; under section 47 of the Interpretation Act, Chapter 1 of the Laws of Belize, Revised Edition 2003, the powers and authority of a statutory commission are not affected by any vacancy in the membership thereof; AND WHEREAS, it seems to me that it would be in the public interest that the said inquiry be completed without further delay; NOW KNOW YE, that the virtue of the powers and authority vested in me by section 2 of the Commissions of Inquiry Act, Chapter 127 of the Laws of Belize, Revised Edition 2003, and all other powers thereunto me enabling I, Commissions of Inquiry 49 SAID W. MUSA, PRIME MINISTER, do by this Commission appoint you the said HERBERT LORD, ESQUIRE and MS. MERLENE BAILEY MARTINEZ as Co-Chairmen of the Commission and direct that you continue the inquiry as Co-Chairmen with full powers and authority of the Commission and complete the inquiry with due dispatch and endeavour to submit a report to me on the outcome of your investigation within a period of one month of the date hereof. And this shall be your warrant for so doing. MADE at Belmopan, this 22nd day of December, 2006. Prime Minister