Assignment of goods imported

(1) No article imported under this Act into Belize free of import duty, stamp duty or revenue replacement duty shall be sold, hired, lent, given away or otherwise disposed of except– (a) in case of an assignment of an enterprise, to the assignee thereof; or (b) after payment of import duty, stamp duty and revenue replacement duty on the value of the article at the date of the transaction assessed by the Comptroller; or (c) after expiry of ten years from the date of importation. (2) An enterprise which contravenes or fails to comply with any of the provisions of this section shall be guilty of an offence and shall be liable upon summary conviction to a fine equal to treble the market value of the goods as assessed by the Comptroller of Customs or to a fine of five thousand dollars, whichever is the greater, and in every such case the goods in respect of which the offence was committed shall be forfeited.