Source document: https://docs-lawep.s3.us-east-2.amazonaws.com/1697648650604.pdf (Belize)
Blue Bonds Loan BELIZE: BLUE BONDS LOAN ACT, 2021 ARRANGEMENT OF SECTIONS 1.

Short title.

2.

Interpretation.

3.

Validity of Government’s authority.

4.

Agreement to have force of law.

5.

Financial provisions.

6.

Exemption from taxes.

7.

Exemption from registrations.

8.

Closing costs.

9.

Act to bind Crown.

No.

28] Blue Bonds Loan 167 No.

28 of 2021 I assent, (H.E.

MS. FROYLA TZALAM) Governor-General 29th October 2021.
AN ACT to authorize the Government of Belize to enter into the Blue Loan Agreement, Conservation Funding Agreement and Ancillary Agreements for and on behalf of Belize and to give statutory effect to the terms and conditions of the Blue Loan Agreement, the Conservation Funding Agreement and Ancillary Agreements; and to provide for matters connected therewith or incidental thereto.

(Gazetted 29th October, 2021).


BE IT ENACTED, by and with the advice and consent of the House of Representatives and Senate of Belize and by the authority of the same, as follows: 1.

This Act may be cited as the Short title.

BLUE BONDS LOAN ACT, 2021.

168 Blue Bonds Loan [No.

28 Interpretation.

2.
In this Act– “Agreement” means the Blue Loan Agreement to be made between Belize, Belize Blue Investment Company LLC, as Initial Lender, and Belize Blue Investment Company, LLC, as Administrative Agent, and authorized by resolution of the National Assembly; “Ancillary Agreements” means such other agreements as may from time to time hereafter be required to give effect to or better perform obligations under, or otherwise to supplement, or to complement any legal structure or arrangement contemplated by provisions of the Agreement and the Conservation Funding Agreement, including the Direct Agreement to be made on the same date as the Agreement and the Conservation Funding Agreement; “Belize Blue Investment Company LLC” means a Delaware, USA, limited liability company; “Conservation Funding Agreement” means the Conservation Funding Agreement to be made between Belize and Belize Blue Investment Company, LLC and authorized by resolution of the National Assembly; “Government” means the Government of Belize; “Initial Lender” means the special purpose vehicle wholly owned by Blue Investments for Nature, Inc., a Delaware, USA non-profit corporation that is an affiliate of The Nature Conservancy; and “The Nature Conservancy” means the District of Columbia, USA, non-profit corporation.
Validity of Government’s authority.

CAP.

15.

3.

The National Assembly hereby resolves in accordance with section 7 of the Finance and Audit (Reform) Act, and for greater certainty and effect, enacts subject only to the No.
28] Blue Bonds Loan 169 provisions of the Constitution of Belize, that the Government has full lawful authority to enter into the Agreement, the Conservation Funding Agreement and all Ancillary Agreements, and to make any and all payments under the Agreement, the Conservation Funding Agreement and any Ancillary Agreement in accordance with their terms notwithstanding any provision in any other law to the contrary.

4.
Subject to the provisions of the Constitution of Belize, all provisions of the Agreement and the Conservation Funding Agreement set out in the Schedule (with such modifications as may be approved by the Minister responsible for finance that do not otherwise increase Belize’s payment obligations or conservation commitments thereunder), as well as all provisions of any Ancillary Agreement, shall have the force of law in Belize and any other law or regulation in any way inconsistent therewith shall stand repealed to the extent of any inconsistency.
Agreement to have force of law.

5.

All sums required to be paid by the Government for the purpose of meeting its obligations under the Agreement, the Conservation Funding Agreement and any Ancillary Agreement shall constitute debt charges on the Consolidated Revenue Fund and shall be– Financial provisions.
(a) approved by an appropriation law; (b) charged on and paid out of the Consolidated Revenue Fund; (c) in the case of the Agreement, paid in United States Dollars; and (d) in the case of the Conservation Funding Agreement or any Ancillary Agreement, paid in United States Dollars or Belize Dollars in accordance with its terms.

170 Exemption from taxes.

CAP.

55.

CAP.

63.

CAP.

48.

CAP.

49.

CAP.

52.

CAP.

64.

CAP.

202.

Exemptions from registrations.

CAP.

52.

CAP.

327.

CAP.

202.

CAP.

250.


Blue Bonds Loan [No.

28 6.
Notwithstanding anything to the contrary, the parties to the Agreement, the Conservation Funding Agreement and any Ancillary Agreement shall, in the exercise of any rights conferred, or performance of any obligations imposed, by the provisions of the Agreement, the Conservation Funding Agreement, or any Ancillary Agreement be exempted from taxes, duties or other imposts under the following Acts– (a) Income and Business Tax Act; (b) General Sales Tax Act; (c) Customs and Excise Duties Act; (d) Customs Regulations Act; (e) Exchange Control Regulations Act; (f) the Stamp Duties Act, and (g) the Trusts Act.
7.
Notwithstanding anything to the contrary, the parties to the Agreement, the Conservation Funding Agreement and any Ancillary Agreement and any other entities formed pursuant to and in furtherance of the Agreement, the Conservation Funding Agreement and any Ancillary Agreement shall be exempted from any requirement to secure any consents, effect any registrations or give any notices under the Exchange Control Regulations Act, the General Registry Act, the Trusts Act, the Companies Act or any other law, for the purpose of performing any obligations or exercising any rights under or in furtherance of the Agreement, the Conservation Funding Agreement or any Ancillary Agreement.
Closing costs.

8.

Notwithstanding anything to the contrary, any closing costs, structuring fees or charges, including legal fees, financial advisory fees, agency fees, bondholder committee No.

28] Blue Bonds Loan 171 fees and any other related fee, associated with the transactions in respect of the Agreement, the Conservation Funding Agreement and any Ancillary Agreement are hereby authorized for payment and shall be charged on and paid out of the Consolidated Revenue Fund.

9.

This Act binds the Crown.


Act to bind Crown.

Printed in Belize by the Government Printer #1 Power Lane, Belmopan, Belize, C.A.

172 Blue Bonds Loan [No.
28 Draft of October 22, 2021 CONFIDENTIAL
No.
28] Blue Bonds Loan 173
174 Blue Bonds Loan [No.
28
Pari
Pari Passu
Pari
Pari Passu
No.
28] Blue Bonds Loan 175
176 Blue Bonds Loan [No.
28
No.
28] Blue Bonds Loan 177
178 Blue Bonds Loan [No.
28
No.
28] Blue Bonds Loan 179
plus
180 Blue Bonds Loan [No.
28
No.
28] Blue Bonds Loan 181
182 Blue Bonds Loan [No.
28 first second
third
second third fourth
fifth fifth
sixth
No.
28] Blue Bonds Loan 183
184 Blue Bonds Loan [No.
28
No.
28] Blue Bonds Loan 185
186 Blue Bonds Loan [No.
28
No.
28] Blue Bonds Loan 187
188 Blue Bonds Loan [No.
28
No.
28] Blue Bonds Loan 189
190 Blue Bonds Loan [No.
28
No.
28] Blue Bonds Loan 191
192 Blue Bonds Loan [No.
28
Pari Passu
pari passu
No.
28] Blue Bonds Loan 193
194 Blue Bonds Loan [No.
28
No.
28] Blue Bonds Loan 195
196 Blue Bonds Loan [No.
28 Pari Passu
pari passu
first
second
No.
28] Blue Bonds Loan 197
198 Blue Bonds Loan [No.
28
No.
28] Blue Bonds Loan 199
200 Blue Bonds Loan [No.
28
No.
28] Blue Bonds Loan 201
202 Blue Bonds Loan [No.
28
No.
28] Blue Bonds Loan 203
204 Blue Bonds Loan [No.
28
No.
28] Blue Bonds Loan 205
206 Blue Bonds Loan [No.
28
No.
28] Blue Bonds Loan 207
208 Blue Bonds Loan [No.
28
No.
28] Blue Bonds Loan 209
210 Blue Bonds Loan [No.
28
No.
28] Blue Bonds Loan 211
212 Blue Bonds Loan [No.
28
No.
28] Blue Bonds Loan 213
214 Blue Bonds Loan [No.
28
No.
28] Blue Bonds Loan 215
216 Blue
216 Blue Bonds Loan [No.
28 Remainder of the page intentionally left blank No.
28] Blue Bonds Loan 217
Signature Page to Blue Loan Agreement 218 Blue Bonds Loan [No.
28 Signature Page to Blue Loan Agreement No.
28] Blue Bonds Loan 219 Signature Page to Blue Loan Agreement 220 Blue Bonds Loan [No.
28 s
No.
28] Blue Bonds Loan 221
222
222 Blue Bonds Loan [No.
28
No.
28] Blue Bonds Loan 223 over
224 Blue Bonds Loan [No.
28
No.
28] Blue Bonds Loan 225
226 Blue Bonds Loan [No.
28
No.
28] Blue Bonds Loan 227
228 Blue Bonds Loan [No.
28
No.
28] Blue Bonds Loan 229
230 Blue Bonds Loan [No.
28
No.
28] Blue Bonds Loan 231
232 Blue Bonds Loan [No.
28
No.
28] Blue Bonds Loan 233 234 Blue Bonds Loan [No.
28
Pari Passu
No.
28] Blue Bonds Loan 235
236 Blue Bonds Loan [No.
28 No.
28] Blue Bonds Loan 237
inter alia
inter alia
238 Blue Bonds Loan [No.
28
No.
28] Blue Bonds Loan 239
240 Blue Bonds Loan [No.
28
No.
28] Blue Bonds Loan 241
242 Blue Bonds Loan [No.
28
day of signing
No.
28] Blue Bonds Loan 243
244 Blue Bonds Loan [No.
28
No.
28] Blue Bonds Loan 245
246 Blue Bonds Loan [No.
28
No.
28] Blue Bonds Loan 247
plus
248 Blue Bonds Loan [No.
28
No.
28] Blue Bonds Loan 249
250 Blue Bonds Loan [No.
28
No.
28] Blue Bonds Loan 251
252 Blue Bonds Loan [No.
28
No.
28] Blue Bonds Loan 253
Pari Passu
pari passu
254 Blue Bonds Loan [No.
28
No.
28] Blue Bonds Loan 255
256 Blue Bonds Loan [No.
28
No.
28] Blue Bonds Loan 257
258 Blue Bonds Loan [No.
28
No.
28] Blue Bonds Loan 259
260 Blue Bonds Loan [No.
28
No.
28] Blue Bonds Loan 261
262 Blue Bonds Loan [No.
28
No.
28] Blue Bonds Loan 263
264 Blue Bonds Loan [No.
28
No.
28] Blue Bonds Loan 265
266 Blue Bonds Loan [No.
28
No.
28] Blue Bonds Loan 267
268 Blue Bonds Loan [No.
28
No.
28] Blue Bonds Loan 269
Signature Pages Follow 270 Blue Bonds Loan [No.
28 Signature Page to the Conservation Funding Agreement No.
28] Blue Bonds Loan 271 Signature Page to the Conservation Funding Agreement 272 Blue Bonds Loan [No.
28
No.
28] Blue Bonds Loan 273
274 Blue Bonds Loan [No.
28 Designation of Public Lands within the Belize Barrier Reef Reserve System (“BBRRS”) as Mangrove Reserves.
Integrated Coastal Zone Management Plan2 (“ICZMP”)
International Union for Conservation of Nature (“IUCN”) Green List Areas.
(B) Aquaculture.
Fisheries
No.
28] Blue Bonds Loan 275
Blue Carbon
Managed Access Program
 Evaluation (E) (F) (G) Environmental Impact Assessment Regulations.
World Heritage
World Heritage Sites: Watershed Management.
276 Blue Bonds Loan [No.
28
High Protection for Biodiversity Zones –
No.
28] Blue Bonds Loan 277
(a) IUCN Protected Area categories
278 Blue Bonds Loan [No.
28
(b) IUCN Other Effective area-based Conservation Measures (OECM)
Medium Protection for Biodiversity
No.
28] Blue Bonds Loan 279
1In all cases, is the lower of the % or the
 amount specified in the MSP 280 Blue Bonds Loan [No.
28
No.
28] Blue Bonds Loan 281
282 Blue Bonds Loan [No.
28