Dissolution of B.E.B. and nomination of successor company

(1) As soon as the Minister is satisfied after consulting B.E.B., that nothing remains to be done by B.E.B., the Minister may by Order, on the vesting day– (a) dissolve B.E.B., company; CAP. 250. (b) nominate as the successor company, a company formed and registered under the Companies Act, provided that on the vesting day such successor company is a company limited by shares and such shares are wholly owned by the Government of Belize. (2) On the vesting day, the Belize Electricity Board Act, Cap. 182 R. E. 1980-1990 is hereby repealed. Schedule I.