04092019 BUSINESS

business@tribunemedia.net

TUESDAY, APRIL 9, 2019

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GRAHAM WHITMARSH

NHI funding talks ‘almost concluded’

By NATARIO MCKENZIE

Tribune Business Reporter

nmckenzie@tribunemedia.net THE National Health Insurance Authority’s (NHIA) managing director yesterday voiced optimism that the cabinet’s concerns over National Health Insurance’s (NHI) funding mechanisms have been satisfied.

Graham Whitmarsh, confirming that the NHI Authority is set for another presentation, told Tribune Business: “We have collaborated with the Ministry of Finance as they asked. I wouldn’t want to preempt anything cabinet decides, but with regards to funding for NHI we have got a number of different potential funding sources.

“We wanted to make sure that they all come together in a way that can give the government confidence that funding mechanism is a sustainable one. I don’t think much has changed. We have been through cabinet. They wanted us to work with the Ministry of Finance on the funding mechanisms.

We have been doing that as recently as the meeting today (Monday).

“I think that conversation is just about concluded.

We at some stage will go back to cabinet,” he continued. “Ultimately it’s a decision for cabinet. When this journey sort of started to revamp NHI, the government wanted it to be more affordable, they wanted it to be implemented incrementally, to share the cost of delivering NHI more broadly and a sustainable funding model.

“We’re really working on the final one of those now, and we’re going to go back with a presentation with how we propose to do that and go from there.”

Dr Duane Sands, minister of health, had revealed to Tribune Business last month that the NHI Authority must “give it another go” after failing to win cabinet approval for the scheme at the first try.

He disclosed to this newspaper that the government

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Bahamas economic model ‘upside down’

By NEIL HARTNELL Tribune Business Editor nhartnell@tribunemedia.net

T

HE Bahamas’ has an “upside down” economic model that is the “complete reverse” of what exists in most progressive countries, a former attorney general has charged.

Alfred Sears QC, in a recent interview with Tribune Business, branded The Bahamas’ investment regime as “perverse” because it favoured foreign investors and businesses over its domestic entrepreneurs and capital.

Arguing that the country urgently needs “a new economic architecture”, he argued that the current system “penalises” The Bahamas’ own nationals in comparison to overseas developers who enjoy access to greater and

• ‘Perverse’ to demand national treatment • Ex-AG: System ‘complete reverse’ of other nations • Calls for ‘new economic architecture’ for country

ALFRED SEARS more numerous tax breaks and other concessions.

Reiterating his previous calls for “a rational appraisal of the Stafford Sands model because it is based on the wrong assumptions”, Mr Sears called on The Bahamas to develop

an investment template that was “transparent, certain and predictable” and designed for its own interests rather than for the likes of the European Union (EU).

While foreign direct investment (FDI) typically lobbies for the same treatment as local investors wherever it goes in the world, a concept known as “national treatment” under rules-based trading regimes such as the World Trade Organisation (WTO), the ex-attorney general said that in this country Bahamian businesses are demanding the same status as foreigners.

“How can we have a system that marginalises

THE Privy Council yesterday admitted its “regret” in finding that the Companies Act provides a legal “backdoor” for the Alexiou brothers to avoid paying a near-$200,000 debt.

Branding their appeal “unmeritorious”, the highest court in the Bahamian judicial system nevertheless ruled that Zachary James Galantis’ two-decade fight to obtain the balance of the purchase price he agreed with Antony and Alexander Alexiou in 1998 could not succeed in law.

Finding that he had chosen the wrong route to pursue the duo, sons of Colina principal and Nassau Guardian president/publisher, Emanuel Alexiou, the Privy Council’s verdict effectively identified a legal loophole that potentially allows companies and their shareholders/directors to

“The oppressive acts complained of by the appellant [Mr Galantis’] are the directors’ [the Alexious’] blatant refusal to honour a debt and to prevent payment of that debt by subsequently removing the company’s assets and preventing the appellant, a judgment creditor, from successfully settling his claim,” then-appeal court president, Dame Anita Allen, wrote.

“As noted, liability for this oppressive behaviour is not extinguished by the removal of the company from the register. To hold that it does would create a backdoor through which a company or its directors can avoid liability, thereby frustrating the purpose of section 280.”

‘Breadbasket’ food reforms to coincide with new budget

By NEIL HARTNELL Tribune Business Editor nhartnell@tribunemedia.net

This analysis, though, was rejected by the Privy Council, which said it “stretches the concept of oppression too far”. It found that AliCat Designs was dissolved in July 2008, with Mr Galantis only initiating legal proceedings to obtain a compensation order against the Alexious in April 2009 almost one year later.

“No liability capable of being continued by section 272 had been imposed by the date on which the company was removed from the register,” the Privy Council found, adding that section 280 was irrelevant to Mr Galantis’ case.

“There was no ongoing oppression capable of being remedied by the

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and penalises national capital?” he told Tribune Business. “It’s inconsistent with the definition of sovereignty.

“In most places in the world foreign investors are fighting to get national treatment. Here in The Bahamas, it’s nationals are clamouring to be treated like a foreign investor. We have it upside down.

“If I go to the US or Europe, I’m going to ask to be treated as close as possible to national treatment. The system there is designed first and foremost to satisfy the need for incentives and access to public

SEE PAGE 4

• Brothers’ appeal on $200k debt wins • Ends 20-year battle over t-shirt deal • Top court: Duo’s case ‘unmeritorious’ escape liability for “oppression” by dissolving the firm and having it struck it from the register.

Its ruling, which overturned an earlier Court of Appeal verdict, found that Mr Galantis could not sustain his claim that the brothers’ conduct had “oppressed” him because the Companies Act’s section 280 only provides a remedy for such situations when they are “current” - meaning that they are ongoing.

The Court of Appeal, in its 2016 verdict, had ruled that the Companies Act’s section 272 continued the Alexious’ liability to Mr Galantis regardless of whether the company in question, Ali-Cat Designs, had been dissolved.

DR DUANE SANDS

THE long-awaited changes to the government’s “breadbasket” food line-up will likely “coincide” with the upcoming 2019-2020 budget, the minister of health has confirmed.

Dr Duane Sands told Tribune Business that while the alterations had not been co-ordinated with the budget, the Minnis administration was determined to combine fiscal and medical policy in a bid to incentivise healthier eating impacts and improve The Bahamas’ health profile.

“There’s no co-ordination with the upcoming budget,” Dr Sands said. “It’s just that it will probably end up coinciding with it. That wasn’t the original plan but we’ve completed it, the final paper, and are just going through the motions now. We have nothing left to do. The new list is certainly more appealing than we originally thought, but that would require the concurrence of my cabinet colleagues.”

He declined to detail the foods that will be included in the new “breadbasket” list - the first changes since it was introduced 45 years ago as a means to ensure lower income Bahamians could access staple food products through a combination of tax breaks and price controls.

While the emphasis then was on affordability, many observers believe its composition has contributed to The Bahamas’ health crisis and prevalence of non-communicable diseases (NCDs) such as diabetes and hypertension by encouraging unhealthy eating habits.

Dr Sands said he “didn’t want to go ahead and jump the gun” on the “breadbasket” reforms given that the addition, and/or removal, of items had yet to be approved yet had implications for the food retail and wholesale sector.

“Certainly there’s attractive offerings on the breadbasket after public consultation,” he added.

“Bear in mind the breadbasket, once introduced 40 years ago, was never changed. This will be the first time.”

Privy Council ‘regret’ over Alexious’ ‘backdoor’ escape

By NEIL HARTNELL Tribune Business Editor nhartnell@tribunemedia.net

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DPM: ‘We’re as competitive as anyone’ on financial services

By NEIL HARTNELL Tribune Business Editor nhartnell@tribunemedia.net THE Bahamas “is as competitive as anyone else” in financial services, the deputy prime minister asserted yesterday, despite its latest fall in an annual survey of global financial hubs.

KP Turnquest told Tribune Business that he “personally has no concerns” even though The Bahamas fell 18 spots, dropping from 67th to 85th, in the Global Financial Centres Index just unveiled by London-based think-tank, Z/Yen Partners, in collaboration with the China Development Institute.

The index, which assessed 112 financial centres based on 133 criteria, and received 2,373 responses, showed that The Bahamas’ rating fell by only six points yearover-year - dropping from 591 in 2017 to 585 last year.

• ‘No concerns’ about drop in financial index • Bahamas among biggest fallers in rankings • Among those with ‘reputational disadvantage’

KP TURNQUEST

JAMES SMITH

PAUL MOSS

This indicates that while The Bahamas may have done little wrong, other financial centres continue to make sufficient reforms and improvements to bypass and leapfrog this nation.

While it was ranked one spot below the Isle of Man, another major international

financial centre (IFC), the likes of Glasgow, Warsaw, Budapest and Sofia were placed further ahead and The Bahamas was among the greatest fallers in terms of rankings.

The Bahamas was also rated eighth out of nine financial centres in the

Latin American and Caribbean region, beating only Buenos Aires. And it was grouped among 15 financial centres said to be suffering from “the greatest reputational disadvantage”.

“This indicates that

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PAGE 2, Tuesday, April 9, 2019

THE TRIBUNE

STORMS COST BAHAMAS $828M IN 2015-2017 THE Bahamas suffered $828m in damage, losses and costs between 2015 and 2017 as a result of being struck by major hurricanes, the Prime Minister revealed yesterday.

Dr Hubert Minnis, referring to the report by the United Nations Economic Commission for Latin America and the Caribbean (ECLAC) on the combined impact of Joaquin, Matthew and Irma, said The Bahamas is preparing to better respond to natural disasters and thus minimise the potential loss of life and damage to property.

“We must maximise our ability to recover as quickly as possible in order to quickly get our communities and the economy back on track following catastrophic events,” he said. “A key part of any readiness plan is to have access to resources as quickly as possible to

THE PRIME MINISTER, Dr Hubert Minnis, addresses the Inter-American Development Bank (IDB) loan signing ceremony at Melia Nassau Beach resort. Also pictured is IDB president, Luis Alberto Moreno, and deputy prime minister and minister of finance, K Peter Turnquest, as Cabinet Ministers look on. P hotos: Yontalay Bowe/BIS speed up response and recovery efforts.”

Speaking as the government signed an agreement with the Inter-American Development Bank (IDB) that will give it access to a $100m contingent loan facility, which The Bahamas can draw down upon

should a major storm strike, the prime minister said this was part of developing an effective financial strategy to deal with disaster preparedness.

The strategy also involves using the proceeds of extinguished dormant bank accounts to set up an

independently-managed disaster relief fund, and signing up once again for the regional insurance fund, the Caribbean Catastrophe Risk Insurance Facility (CCRIF), to provide coverage for public infrastructure in the event of catastrophic damage.

“Our administration will undertake proactive steps, to ensure that appropriate legislation and policy framework are in place to mitigate the impact of natural disasters and, by extension, the amount of ex-post resources required to rapidly restore normalcy

in the aftermath of a natural disaster,” the prime minister said.

“I am hopeful that the [IDB] will assist The Bahamas in this undertaking, along with technical assistance in creating the framework for a holistic disaster relief strategy.”

Development Bank meets with the OAS

FROM left: Justin Sturrup, BDB deputy managing director; Dave Smith, BDB managing director; Phyllis Baron, Organization of American States country representative; and Troy Sampson, BDB manager strategtic development.

THE Bahamas Devel- about opportunities Mrs Baron, who was opment Bank (BDB) has to access institutional appointed as OAS counmet with the Organisation strengthening and techni- try representative for The of American States (OAS) cal assistance in a number Bahamas in September country representative in a of areas.

2018, said it had made sigbid to bolster its efforts to Dave Smith, the BDB’s nificant contributions to assist small businesses. managing director, and the broader economy by The meeting with PhylMrs Barron agreed that working with a number of lis Baron explored BDB and OAS other government agencies opportunities and avenues the could work together and strategic partners. The to strengthen the assistance provided to micro, to support economic devel- OAS contributed $2.8m small and medium-sized opment - especially the in scholarships and $3m in enterprises (MSMEs). former’s mandate to grow trade and economic develThe BDB also talked and diversify the economy. opment in 2018.

BTVI in fashion partnership talks

By NEIL HARTNELL Tribune Business Editor nhartnell@tribunemedia.net REPRESENTATIVES from the UK-based Costume Institute of the African Diaspora (CIAD) recently met with Dr Robert W. Robertson, president of The Bahamas Technical and Vocational Institute (BTVI), for talks on a possible

partnership aligned with BTVI’s fashion programme.

CIAD is associated with the Straw Artisans of The Bahamas. Representing Creative Nassau was its president, Pamela Burnside.

Pictured STANDING from left: BTVI professional development courses co-ordinator, Paulette Davis-Richardson; Costume Institute of the African Diaspora (CIAD) projects

and events manager, Paula Allen; and BTVI associate vice-president of fund development, Alicia Thompson. SITTING from left: CIAD creative director, Teleica Kirkland; BTVI president, Dr Robert W Robertson; Creative Nassau president, Pamela Burnside; and CIAD research development officer, Stacey Balfe. Photo: Shantique Longley.

URCA TO UNVEIL PLANS AT TOWN HALL MEETING DISCUSSIONS on utility structure, consumer impact and alternative energy solutions are planned for tomorrow night’s Utilities Regulation and Competition Authority (URCA) town meeting.

The event, which will start

at 6pm at the Choices Restaurant on the University of The Bahamas campus, aims to feature open conversations on URCA’s plans for the year and the effects they will have on consumers.

Seeking a more “valuable” and “active” participation

from the community, URCA wants the meeting to allow a full exchange on matters that may affect Bahamians in the months and year to come.

Discussions over electricity, telecommunications, broadcasting content regulation and an ‘URCA

URCA representatives sit town with Issues of the Day radio host, Wendell Jones, as they go over the roster for tomorrows Town Hall Meeting. From left: Shevonn Cambridge, URCA director of utilities and energy; Wendell Jones; Mavis JohnsonCollie, URCA corporate and consumer relations manager; and Carlton Smith, URCA director of electronic communications.

Photos: Ronnie Archer/Barefoot Marketing.

CARLTON Smith and Mavis Collie on Guardian Talk Radio. goes green’ project are all expected to be on the agenda as the board opens up about their strategies for the future.

“URCA’s mission statement, ‘improving lives through effective utilities regulation’, is something we all take very seriously,” said Mavis Johnson-Collie, URCA’s corporate and consumer relations manager.

“Regulatory measures are predominantly to ensure better, quality and affordable services for consumers.

Our work seeks to ensure that there is a level playing field for all providers in the regulated sectors and that consumers have choice.”

“To be effective and relevant in our work, public and

consumer engagement is a must. We need to hear from our stakeholders about what is important to them; what is working and what is not, which services are beneficial and/or need improvement.”

“One way of doing this is through stakeholder engagement. These town hall meetings do just that. They allow us to meet with consumers, a key stakeholder, and speak face-to-face with them about the electronic communications and electricity sectors. So we really hope the public will take advantage of these opportunities to come out and speak to some critical projects we have scheduled for 2019.”

THE TRIBUNE

Tuesday, April 9, 2019, PAGE 3

BAHAMAS ‘DELIBERATE’ OVER WTO ACCESSION STRATEGY

By NATARIO MCKENZIE

Tribune Business Reporter

nmckenzie@tribunemedia.net THE government will be “deliberate” in ensuring that The Bahamas’ WTO accession terms reflect its peculiar economic vulnerabilities and realities, a Cabinet minister has pledged.

Brent Symonette, pictured, minister of financial services, trade and industry, and Immigration, while addressing last week’s fourth meeting with the Working Party that will negotiate The Bahamas’ full World Trade Organisation (WTO) membership terms, said this nation also needed an appropriate adjustment period to adapt to any changes.

“While The Bahamas is perceived as having a large

per capita income, this is due to a large expatriate population, residing and working in our economy,

and enclaves of extremely high net worth individuals who skew our incomes upward,” Mr

Symonette said.

“In the larger scheme of things, the size and openness of the country’s

economy, heavy reliance on key factors of economic activity, its archipelagic nature and annual exposure to hurricanes makes the country particularly vulnerable to external shocks.

Any shock, either by human or natural intervention, can set us back significantly.

“Therefore the Government seeks to ensure that the terms of accession, and period allowed for adjustments arising therefrom, take into account our economic vulnerability and realities.”

Mr Symonette said the Government seeks to be quite “deliberate” in its WTO accession strategy.

“We seek to join the WTO because we believe in participating in the rules-based global trading system that makes sense for our economy,” he explained.

“Participation affirms the importance of that system to the stability and growth of the global economy. We also seek to ensure that our membership provides continuing opportunities for our people to grow and prosper through meaningful participation in the ownership and prosperity of their economy. About these dual interests we are very deliberate.”

Mr Symonette added that while tourism and financial services account for 75 percent of the country’s GDP, the WTO negotiations must also safeguard and strengthen the country’s most vulnerable sectors such as agriculture. This accounts for 2 percent of GDP and comprises just under 3,000 registered farmers.

Taxi union unveils first app for drivers

By NATARIO MCKENZIE

Tribune Business Reporter

nmckenzie@tribunemedia.net THE BAHAMAS Taxicab Union’s (BTU) president yesterday said the union was moving ever closer to changing the industry’s image by embracing technology through its own app.

Wesley Ferguson said its 400 members now have access to Taxacari, an app owned and operated by the union.

“It’s an Uber-type app that you can download on your smartphone. You can basically engage a taxi from anywhere in the world, anywhere in Nassau, anywhere in The Bahamas,”

he explained.

“It gives you all of the information on the driver, photos, prearranged price and a timeframe. You can track the driver to see how far they are and when they will get to you. We have been working on it for the last six months. We’ve finally dotted all of our ‘i’s’ and crossed our ‘t’s’,”

said Mr Ferguson.

He added: “This is going to be for the 400 taxi cab union members only. All the taxi cabs will have credit card machines and wi-fi.

This is owned and operated by the taxi union. Taxis only can tap into this app.”

Mr Ferguson said the app platform could allow taxi drivers to generate more

business. “I think this is going to be great for taxi drivers and make what we

offer even more attractive to potential customers,” he added.

DPM: ‘We’re as competitive as anyone’ on financial services FROM PAGE ONE respondents’ perceptions of a centre are less favourable than the quantitative measures alone would suggest,” the Global Financial Centres Index added.

Others falling into this group included the likes of Cyprus, Monaco, Glasgow, Nairobi, Riga, Sofia and Busan.

Still, Mr Turnquest told Tribune Business of the survey findings: “That’s all about perceptions and marketing and that kind of thing. From a competitiveness point of view, after all the rules changes and legislation passed over the past year we’re as competitive as anyone else.

“There’s perceptions, obviously, and the ease of business which we continue to work on, but in terms of efficiency in the international financial services industry we’re competitive although there are always things we can improve on.

“When it comes to the ease of doing business we know still it’s an issue.

We’re working on those issues and making progress, and hopefully that will be

reflected in the results going forward.”

James Smith, a former minister of state for finance and ex-Central Bank governor, yesterday expressed criticism about the Global Financial Centres index findings, arguing that it was “subjective” and appeared to be based “on a wide range of variables” that use unknown weightings.

Suggesting that rankings were largely determined by media coverage and perceptions, Mr Smith added that the index’s outcome was unlikely to impact The Bahamas’ international financial services business prospects.

“My feeling is that the real sophisticated investors, external asset managers and institutions do a much more thorough on-ground examination of a centre,” he told Tribune Business. “I don’t think there’s sufficient detail to influence people with good skin in the game.

“You’ve got to do a lot more than look at it. I don’t think it will affect business on the ground.... It’s [the index] not entirely useless, but nothing anyone should pay any

special attention to.”

However, Paul Moss, head of Dominion Management Services, one of the few Bahamian-owned players in the international financial services industry, told Tribune Business that The Bahamas was “unlikely to be moving up on this index any time soon”.

He added: “This is where The Bahamas is at, and we have to be more strategic in how we respond to some of these issues like blacklists so we can put ourselves in a league of our own or put us in the right standing to be successful.

“This is about tax competition, and The Bahamas has to enter that world so we can be seen as very transparent in our dealings, and people who come to our shores know it’s a very transparent jurisdiction, everyone is rated and ranked, and taxes are collected and paid.

“That’s the way forward.

We can run from it, dodge it, but we’re going to have to do it if we want to remain in this business,” Mr Moss continued. “There’s no question it’s about transparency and us being able to

demonstrate that.

“Part of that is double taxation agreements so that everyone gets part of the taxes out there. That’s the way it’s got to be. I don’t think there’s any other way than that way. It’s been on the table since the late 1990s and we have pushed it off for 20 years, but have to get into it.”

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PAGE 4, Tuesday, April 9, 2019

Privy Council ‘regret’ over Alexious’ ‘backdoor’ escape FROM PAGE ONE intercession of the court in the affairs of the company at the date of commencement of the proceedings.

Furthermore, section 272 does not have the effect of continuing any liability of the directors under section 280 because they were not under any such liability when the company was removed from the register.”

The Privy Council said Mr Galantis, who was represented before it by Bahamas Bar Association president, Khalil Parker, should have sought an alternative legal remedy by applying to the Supreme Court to have Ali-Cat Designs restored to the companies registry.

Had he been successful, he could then have alleged “breach of fiduciary” duty by the Alexiou brothers in their capacity as directors.

“In this way, the company [Ali-Cat Designs] might have recovered funds which could have been used to pay the respondent,” the Privy Council ruled.

“However, that course was not followed and, with some regret, the Board has come to the conclusion that the route which sought to employ sections 272 and 280 was not open to the respondent.

“Notwithstanding the unmeritorious nature of the appeal, the Board will humbly advise Her Majesty that the appeal should accordingly be allowed.”

The 20-year dispute has its origins in the $500,000 purchase price that the Alexiou brothers agreed to pay Mr Galantis to acquire his equity interest in a downtown Bay Street t-shirt store, Big Kahuana, which was located between the Frederick Street junction and John Bull’s flagship store. The store’s inventory and leasehold were included in the deal.

The agreement, struck on July 8, 1998, saw the brothers and their AliCat Designs business pay $300,000 cash upfront with the remaining $200,000 balance - secured by a promissory note - to be paid off in instalments over a three-year period, starting on September 1, 1998. Payments, though, ceased by March 1999 - just seven months later - only $36,506 of the balance paid.

Mr Galantis launched Supreme Court proceedings against the Alexious and Ali-Cat Designs on October 22, 1999, claiming $182,531.70 was due to him as the purchase price balance combined with interest, damages and costs.

He ultimately obtained a Supreme Court judgment for this sum on February 15, 2005, which was upheld by the Court of Appeal that November. The $182,532 was never paid by the Alexious, forcing Mr Galantis to initiate new legal proceedings to enforce his judgment.

This required the

brothers to be examined by the assistant Supreme Court registrar in 2007.

“During this process the respondent [Mr Galantis] formed the view that the company’s failure to pay involved unfair and oppressive conduct on the part of the appellants,” the Privy Council said.

“In particular, he learned that the business he had sold to the company [AliCat Designs] had been ‘converted’ by the first appellant [Antony Alexiou] in conjunction with Bahama Republic, a Bahamian company owned and operated by the first appellant, and which was operating a retail store on the company’s former business premises.”

Previous reports recorded how AliCat Designs’ assets and business had been transferred to “a phoenix company”. This is a firm, set up with the same directors and the same or similar name, which trades in the same industry as the first business from which it received the assets from. The ‘phoenix company’, according to the Court of Appeal judgment, traded as Liquid Desert, and appears to have been called Bahama Republic Ltd. Mr Galantis then learnt from the deputy registrar general on August 14, 2008, that attorneys acting for the Alexiou brothers had secured Ali-Cat Designs’ removal from the companies registry on July 25,

2008, triggering the launch of his ill-fated legal action for oppression.

This was initially met with the same response as that given by the Privy Council, with then-Supreme Court justice, Clare Hepburn, finding that Mr Galantis could not claim relief under the Companies Act’s section 280 because Ali-Cat Designs had been dissolved and therefore the “oppression” was not continuing.

However, the Privy Council noted yesterday: “Justice Hepburn was satisfied that the first appellant [Antony] had acted in his capacity as a director of the company in a manner that was oppressive or unfairly oppressive to, and/or that unfairly disregarded, the respondent’s interests as a creditor of the company.

“Furthermore, she was satisfied that the second appellant [Alexander] had at the very least acted in his capacity as a director of the company in a manner that unfairly disregarded the respondent’s interest as a creditor of the company.”

The Privy Council also suggested that the Government, and Parliament, have some clean-up work to do on the Companies Act. It noted that there is a “clash” between sections 272 and 273, the latter of which was inserted as an amendment in 1993 just one year after the original Act was passed.

Bahamas economic model ‘upside down’ FROM PAGE ONE goods among their nationals,” Mr Sears continued.

“This is a perverse system we have. I understand the origins of it: It

was designed, conceived and implemented in the colonial context, but we are a sovereign country so must always have regard to sovereignty.”

Mr Sears drew a

PUBLIC NOTICE

INTENT TO CHANGE NAME BY DEED POLL The public is hereby advised that I, BERKLEY BENTON PINDER of the Western District of the Island of New Providence, Bahamas, intend to change my name

by Deed Poll from BERKLEY BENTON NEWTON to BERKLEY BENTON PINDER. If there are any objections to the change of name by deed poll, you may write such objections to the Chief Passport Officer, P.O. Box N-742, Nassau, Bahamas no later than thirty (30) days after the date of this publication notice.

LEGAL NOTICE

NOTICE

BAYBRIDGE HOLDINGS LTD. NOTICE IS HEREBY GIVEN as follows: (a) BAYBRIDGE HOLDINGS LTD., is in voluntary dissolution under the provisions of Section 138 (4) of the International Business Companies Act 2000. (b) The dissolution of the said Company commenced on the 8th April, 2019 when its Articles of Dissolution were submitted to and registered by the Registrar General. (c) The Liquidator of the said Company is Shareece E. Scott of Deltec Bank & Trust Limited, Deltec House, Lyford Cay, P.O. Box N-3229, Nassau, Bahamas.

Dated this 9th day of April, A.D. 2019.

Shareece E. Scott Liquidator LEGAL NOTICE

NOTICE

distinction between nations that were colonised for exploitation, and those that were settled. Pointing to the likes of Canada, Australia and New Zealand as examples of the latter category, he said their economic policies had focused on empowering their own entrepreneurs and providing support for those that sought to export or expand overseas.

“In The Bahamas it’s the complete reverse,” he told this newspaper. “We penalise. You have to pay a premium to search for cheap money [exchange controls]. The Government must appraise the current system and not only where there is an external threat.

“There needs to be a complete overhaul. That is the only way The Bahamas can achieve sustainable development. It must grow

a robust, competitive, innovative domestic entrepreneurial group or national capital.”

Mr Sears’ remarks are an extension of his previous arguments that the 60 yearold economic model left by Sir Stafford Sands is now “broken” and inadequate for The Bahamas’ needs, perpetuating an unequal investment incentive regime that favours foreigners over Bahamians and has failed to empower locals.

“I think we need a new economic architecture,” he told this newspaper more recently. “First of all, the ring fencing [preferential tax breaks available to foreign investors that are not accessible to the domestic economy] that previously existed exposed the jurisdiction to charges of unfair practices in The

NOTICE NOTICE is hereby given that ALICE ROSALINA JONES NÉE WALKER of Lincoln Boulevard and Moore Avenue, Nassau, Bahamas is applying to the Minister responsible for Nationality and Citizenship, for Registration Naturalization as a citizen of The Bahamas, and that any person who knows any reason why registration/naturalization should not be granted, should send a written and signed statement of the facts within twenty-eight days from the 2nd day of April, 2019 to the Minister responsible for Nationality and Citizenship, P.O. Box N-7147, Nassau, New Providence, The Bahamas.

LEGAL NOTICE

NOTICE

International Business Companies Act (No. 45 of 2000)

International Business Companies Act (No. 45 of 2000)

JOLIMONT LIMITED

TROLLF CORPORATION

(the “Company”)

(the “Company”)

Notice is hereby given that, in accordance with Section 138 (8) of the International Business Companies Act, No. 45 of 2000, the Dissolution of JOLIMONT LIMITED has been completed, a Certificate of Dissolution has been issued and the Company has therefore been struck off the Register. The date of completion of the dissolution was the 2nd day of April, 2019.

Notice is hereby given that, in accordance with Section 138 (8) of the International Business Companies Act, No. 45 of 2000, the Dissolution of TROLLF CORPORATION has been completed, a Certificate of Dissolution has been issued and the Company has therefore been struck off the Register. The date of completion of the dissolution was the 2nd day of April, 2019.

THE TRIBUNE

NHI funding talks ‘almost concluded’ wants answers to multiple questions raised during its first presentation to Cabinet on the reformed health care financing plan.

While not providing specifics on the queries raised by Cabinet, Dr Sands indicated there needed to be further testing of the “assumptions” that the NHI Authority has made to support how it has chosen to structure the scheme’s financing, operational and administrative mechanisms.

One of the major queries raised by both healthcare providers and employers is how the NHI Authority has been able to price the scheme, and cost the SHB’s annual premium at $1,000, when it has yet to agree a fee schedule with both doctors and medical facilities - the basic determinant of how much healthcare will cost.

The greatest fear raised by the Bahamas Chamber of Commerce and Employers Confederation (BCCEC) and others in the private sector is that if the NHI Authority gets its calculations wrong, and the $1,000 SHB premium severely undervalues the scheme’s price tag, businesses and their employees could be burdened with ever-increasing levies to finance its escalating costs.

Proposed NHI financing mechanisms include VAT levied on health insurance premiums; a reallocation from the existing Public Hospitals Authority (PHA) budget; and a so-called “sin tax” on sugary drinks.

Tribune Business revealed last month that NHI’s true cost was closer to a range between $200m to $236m, with the much-touted $100m-$130m price tag only covering “the government’s exposure” to the scheme.

Healthcare for the 206,000 persons covered by the employer mandate will be financed through their annual $1,000 Standard Health Benefit (SHB) premium, NHI’s minimum level of care, which is to come from a combination of 1.5 percent of their annual gross salary and employer contributions.

This cost is separate, and on top of, the $130m that will be incurred by the Government (Bahamian taxpayer) in financing NHI coverage for the 160,000 persons not covered by the employer mandate.

The NHI Authority has said the $130m cost for persons outside the “employer mandate” will be financed via “a diverse mix of revenue sources”, one of which is NHI’s “existing budget allocation” that stands at $20m.

That leaves a further $110m to be located, but the NHI Authority said it would come from VAT paid on private health insurance premiums; a “reallocation” of resources from the Public Hospitals Authority’s (PHA) existing $216m budget to cover services NHI will now provide; the $8-$10m that a “sugary drinks tax” may raise; and the scheme’s own “risk equalisation” method.

However, neither the “sugary drinks tax” or the reallocation of VAT on health insurance premiums has been legislated or approved. And some 80-90 percent of the PHA’s budget goes on staff costs, with the Princess Margaret Hospital operator also consistently facing an annual $30-$40m funding shortfall.

Bahamas’ external financial services sector.

“We’re not going far enough. Simply inventing a corporate tax is not sufficient. The foreign-owned enterprise should be subject to the same taxes as a Bahamian. The financial services institutions in The Bahamas, when they operate in the US, Canada and Jamaica, they have to pay local taxes, and where there are exemptions they apply to qualified persons local and foreign.

“It’s not penalising foreign investors; it’s penalising your own nationals to satisfy foreign investors.

Rather than acting pursuant to a threat, or perceived external threat, there needs to be a rational appraisal of the Stafford Sands model because it is based on the wrong assumptions,” Mr Sears continued.

“We see it in the financial services sector based on taxes. There has to be a realignment that is not based on our response to the Europeans. It has to be based on how we can achieve sustainable economic processes that give citizens and foreign investors - in joint ventures or by

themselves - an even playing field of predictability, certainty and transparency in terms of tax incentives and subsidies.”

Mr Sears agreed that it was vital The Bahamas avoided the European Union’s (EU) tax “blacklist” and, at least for the moment, its listing of those nations that pose a risk because of weak anti-financial crime defences.

“It’s important to avoid the negative listings, however illegal they are, because The Bahamas is in such a fragile state that any external disruption will have a devastating impact as we are already on a downward spiral,” he told Tribune Business. “It’s important that we minimise external shocks as we can ill-afford it since we’re in a state of extreme decline.

“There are vital issues that need urgent attention. As long as we delay addressing the critical concerns and coming up with a vision for the future that’s consistent with the needs of a sovereign country will be signing the announcement of our own decline.”

FROM PAGE ONE

NOTICE NOTICE is hereby given that TOTARAM PERSAUD of Golden Isles Road, Golden Meadows Subdivision, P.O. Box CR-54122 is applying to the Minister responsible for Nationality and Citizenship, for Registration Naturalization as a citizen of The Bahamas, and that any person who knows any reason why registration/naturalization should not be granted, should send a written and signed statement of the facts within twenty-eight days from the 9th day of April, 2019 to the Minister responsible for Nationality and Citizenship, P.O. Box N-7147, Nassau, New Providence, The Bahamas.

NOTICE NOTICE is hereby given that PROPHET SAMUEL DEANTÉ LOWE of Bacardi Road Floridell Avenue, Nassau, Bahamas is applying to the Minister responsible for Nationality and Citizenship, for Registration Naturalization as a citizen of The Bahamas, and that any person who knows any reason why registration/naturalization should not be granted, should send a written and signed statement of the facts within twenty-eight days from the 9th day of April, 2019 to the Minister responsible for Nationality and Citizenship, P.O. Box N-7147, Nassau, New Providence, The Bahamas.

THE TRIBUNE

Tuesday, April 9, 2019, PAGE 5

‘Breadbasket’ food reforms to coincide with new budget FROM PAGE ONE

Your ongoing financial support DOES make a difference

EVERYDAY!

“The idea is to move from just food or a belly full to healthy foods; healthy foods with protein and no added fat. We have tried to consider the health implications, the health profiles of hypertension and diabetes, and the evidence that suggests certain unhealthy eating habits contribute to these challenges.

“Add that to fiscal policy and what we’d like to see is support from people trying to lead healthier lives and an improvement in the health profile. It’s a change

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from what the breadbasket was originally.”

Dr Sands added that besides incentivising Bahamians to eat more healthy foods, the changes were also designed to “remove the financial disincentive” that currently exists with the “breadbasket’s” composition.

The items originally proposed for removal from the breadbasket list were margarine, mayonnaise, corned beef, canned meats, canned soups, broths, condensed milk and sugar. Those likely to be included were beans and peas, raw almonds, raw cashews, fresh oranges,

fresh apples, root crops and oatmeal, as well as tuna, sardine and mackerel canned in water.

Some of the items that will remain on the list were eyed for greater specification, allowing affordable purchases of only certain kinds of staple products.

These will likely include no fat, low fat and two per cent fat evaporated milk options, as well as organic and nonorganic fresh eggs. The list will likely include trans fat free, low fat, olive oil; unsalted and vegan butters; and one percent, two percent soy and almond fresh milk.

PAGE 6, Tuesday, April 9, 2019 LONDON Associated Press

T

ECH giants like Facebook and Google came under increasing pressure in Europe yesterday when countries proposed stricter rules to force them to block extreme material such as terrorist propaganda and child porn.

Britain called for a firstof-its-kind watchdog for social media that could fine executives and even ban companies. And a European Union parliamentary committee approved a bill giving internet companies an hour to remove terrorrelated material or face fines that could reach into the billions.

“We are forcing these firms to clean up their act once and for all,” said British Home Secretary Sajid Javid, whose department collaborated on Britain’s proposal.

Opponents warned the British and EU measures could stifle innovation and strengthen the dominance of technology giants because smaller companies won’t have the money to comply. That, in turn, could turn Google and Facebook into the web’s censors, they said.

The push to make the big companies responsible for the torrent of material they carry has largely been driven by Europeans. But it picked up momentum after the March 15 mosque shootings in New Zealand that killed 50 people and were livestreamed for 17

THE TRIBUNE

Facebook, Google face widening crackdown over online content minutes. Facebook said it removed 1.5 million videos of the attacks in the 24 hours afterward.

The US, where government action is constrained by the First Amendment right to free speech and freedom of the press, has taken a more hands-off approach, though on Tuesday, a House committee will press Google and Facebook executives on whether they are doing enough to curb the spread of hate crimes and white nationalism.

Australia last week made it a crime for social media platforms not to quickly remove “abhorrent violent material”. The offense would be punishable by three years in prison and a fine of 10.5 million Australian dollars, or 10% of the platform’s annual revenue, whichever is larger. New Zealand’s Privacy Commissioner wants his country to so the same.

The British plan would require social media companies such as Facebook and Twitter to protect

NOTICE NOTICE is hereby given that EDDIE LIXION of Bacardi Road, Nassau, Bahamas is applying to the Minister responsible for Nationality and Citizenship, for Registration Naturalization as a citizen of The Bahamas, and that any person who knows any reason why registration/ naturalization should not be granted, should send a written and signed statement of the facts within twenty-eight days from the 2nd day of April, 2019 to the Minister responsible for Nationality and Citizenship, P.O. Box N-7147, Nassau, New Providence, The Bahamas.

CONFERENCE workers speak in front of a demo booth at Facebook’s annual F8 developer conference, in San Jose, Calif. The UK, for the first time, yesterday proposed direct regulation of social media companies, with senior executives potentially facing fines if they fail to block damaging content such as terrorist propaganda or images of child abuse. people who use their sites from “harmful content”.

The plan, which includes the creation of an independent regulator funded by a tax on internet companies, will be subject to public comment for three months before the government publishes draft legislation.

“No one in the world has done this before, and it’s important that we get it right,” Culture Secretary Jeremy Wright told the BBC. Facebook’s head of public policy in Britain, Rebecca Stimson, said the goal of the new rules should be to protect society while also supporting innovation and freedom of speech.

“These are complex issues to get right, and we

look forward to working with the government and Parliament to ensure new regulations are effective,” she said.

Britain will consider imposing financial penalties similar to those under the EU’s online data privacy law, which permits fines of up to 4% of a company’s annual worldwide revenue, Wright said. In extreme cases, the government may also seek to fine individual company directors and prevent companies from operating in Britain.

Under the EU legislation that cleared an initial hurdle in Brussels, any internet companies that fail to remove terrorist content within an hour of being notified by authorities would face similar 4%

MARKET REPORT MONDAY, 8 APRIL 2019

t. 242.323.2330 | f. 242.323.2320 | www.bisxbahamas.com

BISX ALL SHARE INDEX: CLOSE 2,158.89 | CHG 1.23 | %CHG 0.06 | YTD 95.32 | YTD% 4.62 BISX LISTED & TRADED SECURITIES 52WK HI 4.50 20.91 7.00 5.50 2.30 1.38 3.45 10.50 6.60 4.64 12.50 2.74 1.81 9.02 6.60 15.60 7.25 4.47 13.85

52WK LOW 3.50 19.17 4.90 3.34 1.00 0.19 2.10 8.80 6.10 3.54 9.75 2.30 1.50 7.25 6.10 10.10 5.85 3.01 12.51

1000.00 1000.00 1000.00 1000.00

1000.00 1000.00 1000.00 1000.00

PREFERENCE SHARES

1.00 103.00 100.00 100.00 105.00 103.00 100.00 10.00 1.01

1.00 100.00 100.00 100.00 100.00 100.00 100.00 10.00 1.00

SECURITY AML Foods Limited APD Limited Bahamas Property Fund Bahamas Waste Bank of Bahamas Benchmark Cable Bahamas CIBC FirstCaribbean Bank Colina Holdings Commonwealth Bank Commonwealth Brewery Consolidated Water BDRs Doctor's Hospital Emera Incorporated Famguard Fidelity Bank Finco Focol J. S. Johnson Cable Bahamas Series 6 Cable Bahamas Series 8 Cable Bahamas Series 9 Cable Bahamas Series 10 Colina Holdings Class A Commonwealth Bank Class E Commonwealth Bank Class J Commonwealth Bank Class K Commonwealth Bank Class L Commonwealth Bank Class M Commonwealth Bank Class N Fidelity Bank Class A Focol Class B

CORPORATE DEBT - (percentage pricing) 52WK HI 100.00

52WK LOW 100.00

SYMBOL AML APD BPF BWL BOB BBL CAB CIB CHL CBL CBB CWCB DHS EMAB FAM FBB FIN FCL JSJ CAB6 CAB8 CAB9 CAB10 CHLA CBLE CBLJ CBLK CBLL CBLM CBLN FBBA FCLB

SECURITY Fidelity Bank Note 22 (Series B) +

SYMBOL FBB22

Bahamas Note 6.95 (2029) BGS: 2015-1-3Y BGS: 2014-12-5Y BGS: 2015-1-5Y BGS: 2014-12-7Y BGS: 2015-1-7Y BGS: 2014-12-30Y BGS: 2015-1-30Y BGS: 2015-6-3Y BGS: 2015-6-5Y BGS: 2015-6-7Y BGS: 2015-6-30Y BGS: 2015-10-3Y BGS: 2015-10-5Y BGS: 2015-10-7Y

BAH29 BG0203 BG0105 BG0205 BG0107 BG0207 BG0130 BG0230 BG0303 BG0305 BG0307 BG0330 BG0403 BG0405 BG0407

BAHAMAS GOVERNMENT STOCK - (percentage pricing) 115.92 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00

104.79 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00

MUTUAL FUNDS 52WK HI 2.20 4.24 2.04 184.51 158.55 1.61 1.74 1.69 1.12 6.99 8.54 6.15 10.52 11.46 10.46 10.00 8.69 11.79

52WK LOW 1.67 3.04 1.68 164.74 116.70 1.55 1.68 1.63 1.08 6.41 7.62 5.66 8.65 10.54 9.57 9.88 8.45 11.20

LAST CLOSE 4.25 17.43 6.00 5.39 2.15 1.15 2.15 10.50 6.16 4.50 10.64 2.54 1.79 9.23 6.60 15.57 7.25 3.54 13.85

CLOSE 4.25 17.43 6.00 5.39 2.25 1.38 2.15 10.50 6.16 4.50 10.64 2.54 1.79 9.27 6.60 15.57 7.25 3.54 13.85

CHANGE 0.00 0.00 0.00 0.00 0.10 0.23 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.04 0.00 0.00 0.00 0.00 0.00

1000.00 1000.00 1000.00 1000.00 1.00 100.00 100.00 100.00 100.00 100.00 100.00 10.00 1.00

1000.00 1000.00 1000.00 1000.00 1.00 100.00 100.00 100.00 100.00 100.00 100.00 10.00 1.00

0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00

CLOSE 100.00

CHANGE 0.00

107.31 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00

0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00

LAST SALE 100.00 107.31 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00

FUND CFAL Bond Fund CFAL Balanced Fund CFAL Money Market Fund CFAL Global Bond Fund CFAL Global Equity Fund FG Financial Preferred Income Fund FG Financial Growth Fund FG Financial Diversified Fund FG Financial Global USD Bond Fund Royal Fidelity Bahamas Opportunities Fund - Secured Balanced Fund Royal Fidelity Bahamas Opportunities Fund - Targeted Equity Fund Royal Fidelity Bahamas Opportunities Fund - Prime Income Fund Royal Fidelity Int'l Fund - Equities Sub Fund Royal Fidelity Int'l Fund - High Yield Fund Royal Fidelity Int'l Fund - Alternative Strategies Fund Colonial Bahamas Fund Class D Colonial Bahamas Fund Class E Colonial Bahamas Fund Class F

VOLUME

2,200 2,000 1,000

400

200

VOLUME

EPS$ 0.167 0.932 -0.306 0.323 0.098 0.000 -0.431 0.708 0.480 0.154 0.627 0.102 0.209 0.000 0.481 0.834 0.578 0.205 0.631

DIV$ 0.130 1.260 0.000 0.240 0.000 0.020 0.000 0.710 0.220 0.120 0.620 0.060 0.060 0.084 0.240 0.500 0.200 0.090 0.600

P/E 25.4 18.7 N/M 16.7 N/M N/M -5.0 14.8 12.8 29.2 17.0 24.9 8.6 N/M 13.7 18.7 12.5 17.3 21.9

YIELD 3.06% 7.23% 0.00% 4.45% 0.00% 1.45% 0.00% 6.76% 3.57% 2.67% 5.83% 2.36% 3.35% 0.91% 3.64% 3.21% 2.76% 2.54% 4.33%

0.000 0.000 0.000 0.000 0.000 0.000 0.000 0.000 0.000 0.000 0.000 0.000 0.000

0.000 0.000 0.000 0.000 0.000 0.000 0.000 0.000 0.000 0.000 0.000 0.000 0.000

0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0

0.00% 0.00% 0.00% 0.00% 6.25% 6.25% 6.25% 6.25% 6.25% 6.25% 6.25% 7.00% 6.50%

INTEREST Prime + 1.75% 6.95% 4.00% 4.25% 4.25% 4.50% 4.50% 6.25% 6.25% 4.00% 4.25% 4.50% 6.25% 3.50% 3.88% 4.25%

NAV 2.22 4.22 2.04 184.51 147.81 1.61 1.74 1.69 1.12 7.54 8.73 6.65 10.66 11.79 10.48 9.92 8.69 11.79

YTD% 12 MTH% 0.58% 3.94% -0.39% 1.53% 0.43% 2.52% 3.26% 3.26% -3.65% -3.65% 0.76% 4.39% -0.03% 2.04% 0.51% 3.65% 1.03% 3.78% -1.08% 1.77% -5.96% -3.05% 1.90% 4.59% 7.24% 11.96% 2.77% 3.88% 3.94% 4.69% -0.71% 0.16% 3.96% 7.75% 8.34% 14.88

MATURITY 19-Oct-2022 20-Nov-2029 30-Jul-2018 16-Dec-2019 30-Jul-2020 15-Dec-2021 30-Jul-2022 15-Dec-2044 30-Jul-2045 26-Jun-2018 26-Jun-2020 26-Jun-2022 26-Jun-2045 15-Oct-2018 15-Oct-2020 15-Oct-2022 NAV Date 28-Feb-2019 28-Feb-2019 22-Feb-2019 31-Dec-2018 31-Dec-2018 28-Feb-2019 28-Feb-2019 28-Feb-2019 28-Feb-2019 28-Feb-2019 28-Feb-2019 28-Feb-2019 28-Feb-2019 28-Feb-2019 28-Feb-2019 30-Sep-2018 30-Sep-2018 30-Sep-2018

MARKET TERMS BISX ALL SHARE INDEX - 19 Dec 02 = 1,000.00 52wk-Hi - Highest closing price in last 52 weeks 52wk-Low - Lowest closing price in last 52 weeks Previous Close - Previous day's weighted price for daily volume Today's Close - Current day's weighted price for daily volume Change - Change in closing price from day to day Daily Vol. - Number of total shares traded today DIV $ - Dividends per share paid in the last 12 months P/E - Closing price divided by the last 12 month earnings

YIELD - last 12 month dividends divided by closing price Bid $ - Buying price of Colina and Fidelity Ask $ - Selling price of Colina and fidelity Last Price - Last traded over-the-counter price Weekly Vol. - Trading volume of the prior week EPS $ - A company's reported earnings per share for the last 12 mths NAV - Net Asset Value N/M - Not Meaningful

TO TRADE CALL: CFAL 242-502-7010 | ROYALFIDELITY 242-356-7764 | FG CAPITAL MARKETS 242-396-4000 | COLONIAL 242-502-7525 | LENO 242-396-3225

penalties. EU authorities came up with the idea last year after attacks highlighted the growing trend of online radicalisation.

The bill would apply to companies providing services to EU citizens, whether or not those businesses are based in the EU’s 28 member countries. It still needs further approval, including from the full European Parliament.

It faces heavy opposition from digital rights organisations, tech industry groups and some lawmakers, who said the 60-minute deadline is impractical and would lead companies to go too far and remove even lawful material.

“Instead, we call for a more pragmatic approach with removals happening ‘as soon as possible,’ to protect citizens’ rights and competitiveness,” said EDIMA, a European trade group for new media and internet companies.

Opponents said the measure also places a bigger burden on smaller internet companies than on giants like Facebook and Google, which already have automated content filters. To help smaller web companies, the bill was modified to give them an extra 12 hours for their first offense, a measure opponents said didn’t go far enough.

Mark Skilton, a professor at England’s Warwick Business School, urged regulators to pursue new methods such as artificial intelligence that could do a better job of tackling the problem.

“Issuing large fines and hitting companies with bigger legal threats is taking a 20th-century bullwhip approach to a problem that requires a nuanced solution,” he said. “It needs machine learning tools to manage the 21st-century problems of the internet.”

NOTICE NOTICE is hereby given that BRINIA BRITTNEY BRAVE of Farm Road, Treasure Cay, Abaco, Bahamas is applying to the Minister responsible for Nationality and Citizenship, for Registration Naturalization as a citizen of The Bahamas, and that any person who knows any reason why registration/ naturalization should not be granted, should send a written and signed statement of the facts within twenty-eight days from the 2nd day of April, 2019 to the Minister responsible for Nationality and Citizenship, P.O. Box N-7147, Nassau, New Providence, The Bahamas.

NOTICE NOTICE is hereby given that LEWINGSTON DORVILUS of Farmers Hill, Exuma, Bahamas is applying to the Minister responsible for Nationality and Citizenship, for Registration Naturalization as a citizen of The Bahamas, and that any person who knows any reason why registration/naturalization should not be granted, should send a written and signed statement of the facts within twenty-eight days from the 2nd day of April, 2019 to the Minister responsible for Nationality and Citizenship, P.O. Box N-7147, Nassau, New Providence, The Bahamas.

NOTICE NOTICE is hereby given that JACQUELINE CORLETTE of Rolling Hills Estate, P.O. BOX CR-56810 Nassau, Bahamas is applying to the Minister responsible for Nationality and Citizenship, for Registration Naturalization as a citizen of The Bahamas, and that any person who knows any reason why registration/ naturalization should not be granted, should send a written and signed statement of the facts within twenty-eight days from the 2nd day of April, 2019 to the Minister responsible for Nationality and Citizenship, P.O. Box N-7147, Nassau, New Providence, The Bahamas.