Application of this Act

(1) Save as otherwise provided in this section and in sections 7 and 9, the provisions of this Act shall apply to– (a) the right of establishment and the right to provide a service in Belize by a national of a Member State; and (b) the right of a national of a Member State to move capital into and within Belize and out of Belize to another Member State. (2) An activity in Belize involving the exercise of governmental authority by a duly authorized person shall be excluded from the operation of this Act. (3) For the purposes of sub-section (2) “an activity in Belize involving the exercise of governmental authority” means an activity conducted in Belize neither on a commercial basis nor in competition with one or more economic enterprises such as– (a) an activity conducted by the Central Bank of Belize or any other public entity in pursuance of monetary or exchange rate policies; Caribbean Community 10 (Movement of Factors) (b) an activity forming part of a statutory system of social security or public retirement plans; (c) an activity forming part of a system of national or for the or maintenance of public order; (d) any other activity conducted by a public entity for, the account of, or with the guarantee or using financial resources of the Government of Belize; and (e) such other activity as may be excluded by Regulations made pursuant to section 31.