Interpretation in this Part

For the purposes of this Part“public utilities” means the provision of electricity services, telecommunication services and water services; “public utility provider” means– (a) Belize Electricity Limited, a company incorporated under the Companies Act, Cap. 250, or its successors by whatever name called; (b) Belize Telemedia Limited, a company incorporated under the Companies Act, Cap. 250, or its successors by whatever name called; and (c) Belize Water Services Limited, a company incorporated under the Companies Act, Cap. 250, or its successors by whatever name called; “Government” means the Government of Belize; 164 “Government shareholding” shall be deemed to include any shares held by the Social Security Board; “majority ownership and control” means the holding of not less than fifty one per centum (51%) of the issued share capital of a public utility provider together with a majority in the Board of Directors, and the absence of any veto power or other special rights given to a minority shareholder which would inhibit the Government from administering the affairs of the public utility provider freely and without restriction.