Licences

(1) Where the Comptroller is satisfied that an applicant is a fit and proper person or entity to establish a duty free shop, he may issue a licence subject to any necessary conditions, in Form II of the Schedule and upon payment of the prescribed fee. Schedule. (2) Every person whose application for a duty free shop is approved by the Comptroller shall execute a bond in favour of the Government of Belize in a sum of not less than the amount of duties payable on the goods to be kept in the duty free shop to be operated by the proprietor. (3) Every such bond shall be guaranteed by a reputable bank or insurance company or some other institution acceptable to the Comptroller. (4) The annual licence fee for the issue of a licence under these Regulations shall be equal to three per centum of the value of the bond executed under paragraph (2) above subject to a maximum of four thousand, five hundred dollars. Customs and Excise Duties 73 (5) Every licence issued under these Regulations may be subject to renewal each year upon payment of the same fee as the original licence save that where at any time the value of the bond is increased, the annual licence fee shall be equal to three per centum of the value of such increased amount subject to the maximum of four thousand, five hundred dollars. (6) A licence to operate a duty free shop may be revoked by the Comptroller on any of the following grounds– (a) that a condition of the licence has been breached; (b) that the lease granted by the Belize Airports Authority for the use of premises within the airport has expired or has been cancelled; (c) that revocation of the licence is necessary for the protection of the revenue or otherwise to ensure compliance with the customs laws. (7) licence may be revoked by notice in writing to the proprietor and shall include the reasons for such revocation.