Extent of exemption

The Foreign Exchange Permits mentioned in paragraph 2 above shall be permits issued to allow the purchase of foreign currency– (a) to be paid to the Belize Electric Company Limited (BECOL) in respect of electrical energy supplied to the Belize Electricity Limited under the Power Purchase Agreement dated April 19th,1991; (b) required under the Second Power Development Project financed by the Caribbean Development Bank, European Investment Bank, Belize Electricity Limited and BANCOMEXT. MADE by the Minister of Finance this 25th day of March, 1996. (MANUEL ESQUIVEL) Minister of Finance