Penalties

(1) The Chief Executive Officer shall investigate any alleged violation by a Commercial Free Zone business of any requirement under these Regulations, and where he finds that a violation has occurred, he shall impose a fine which shall not be less than fifty dollars (Bz$50.00) per day but which may extend to five hundred dollars (Bz$500.00) per day depending on the gravity of the offence. (2) Additionally, where a Commercial Free Zone business repeatedly violates the provisions of these Regulations, the Chief Executive Officer, after due notice and hearing, may revoke the status of the Commercial Free Zone business to operate within the CFZ, whereupon the business enterprise concerned shall cease to be eligible for any benefits under the CFZ Act and Regulations. CAP. 278. MADE by the Commercial Free Zone Management Agency by a two-thirds majority, this 28th day of February, 2002. (HON. FLORENCIO MARIN) (Chairman) Commercial Free Zone Management Agency