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Laws of Jamaica

The Petroleum (Amendment) Act no. 7 of 2019

Made 2019-08-30 · Text as of 2026-10-01

Public law and official guidance, published as research. Not legal, tax or financial advice.

About this law

Language
English
Kind
Act
Country
Jamaica
Subjects
Mineral resources
Keywords
liability/compensation, contracts, procedural matters, oil, special fund, institution, governance
Categories
energy

Where to read it

Text

The law's own text, section by section, as held. Each section has its own link.

  1. (a) — the Government of Jamaica were substituted for the

    (a) the Government of Jamaica were substituted for the PetroCaribe Development Fund as a parzy to the agreement or instrument; and

  2. (b) — any reference in the agreement or instrument to the

    (b) any reference in the agreement or instrument to the PetroCaribe Development Fund (unless the context otherwise requires) were amended to be or to include a reference to the Government of Jamaica. 6. On and after the commencement date— Devoluticn of assets and (a) the assets and rights of the PetroCaribe Development Fund liabilities. that were immediately before that date vested in the PetroCaribe Development Fund vest— (i) in relation to real property, in the Commissioner of Lands by force of this section; and (i) inrelat:on to personal property, in the Accountant- General, by force of this section; (b) the liabilities of the PetroCaribe Development Fund (including a share ofa liability) immediately before that date become, by force of this section, the liabilities of the Crown;

  3. (c) — any proceeding or remedy that immediately before that date

    (c) any proceeding or remedy that immediately before that date might have been brought or continued by or available against or to, the PetroCaribe Development Fund may be brought or continued and are available, by or against or to the Attorney-General; and

  4. (d) — all records and data of the PetroCaribe Development Fund

    (d) all records and data of the PetroCaribe Development Fund pass to the Minister with responsibility for finance on behalf of the Crown. 4 [No. ] The Petroleum (Amendment) Act, 2019 Transfer of 7, Onand after the commencement date, the functions conferred functions Of PetroCaribe non the PetroCaribe Development Fund and the Board of Management Development under the Petroleum Act, shall be performed by the Minister with rund ene tM responsibility for finance on behalf of the Crown. Management. Savings. 8. The operation of this Act is not to be regarded— (a) asabreach of contract or confidence or otherwise as a civil wrong; (b) asabreach ofany contractual provision prohibiting, restricting or regulating the assignment or transfer of assets, rights or liabilities or the disclosure of information; (c) as giving rise to any remedy by a party to an instrument or as causing or permitting the termination of any instrument, because of a change in the beneficial or legal ownership of any assets, right or liability; (d) ascausing any contract or instrument to be void or otherwise unenforceable; or

  5. (e) — asreleasing or allowing the release of any surety

    (e) asreleasing or allowing the release of any surety. Passed in the House of Representatives this 4th day of June, 2019. PEARNEL P. CHARLES, CD, MP, JP Speaker. Passed in the Senate this 5th day of July, 2019. THOMAS TAVARES-FINSON, CD, QC, JP President. This printed impression has been carefully compared by me with the authenticated impression of the foregoing Act, and ha “een Sound by me to be a true and correct printed copy yd eatin &. Cocte of the said Act. Clerk to the Houses of Parliament.

The Petroleum (Amendment) Act no. 7 of 2019 · Nelum