Dissolution of the Authority and nomination of successor company

As soon as the Minister is satisfied after consulting the Authority that nothing remains to be done by the Authority, the Minister may by Order, on the vesting day– (a) dissolve the Authority; and (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 in the first instance. CAP. 250.