by Linda Straker
- Individuals operating a casino without a licence can be charged and fined up to EC$100,000
- Conviction could have occurred anywhere around the world
- Casino Gaming (Amendment) Bill, 2022 will be debated in 1 February session of Lower House of Parliament
Grenada is amending its gaming legislation so that an individual who operates a casino without a licence can be charged and be fined up to a maximum of EC$100,000. A licence can also be revoked if the shareholders and others responsible for its ownership are convicted of any offence involving fraud, dishonesty, or violence.
“This legislation seeks to amend section 4 of the principal Act to insert 2 new subsections to create an offence for operating a casino without a licence. This is a summary offence with a maximum fine of $100,000,” said the explanatory note to the Casino Gaming (Amendment) Bill, 2022 which will be debated in the 1 February session of the House of Representatives or the Lower House of Parliament.
“Clause 4 seeks to amend section 12 (2) of the principal Act which provides for disqualifications for grant of a licence to operate a casino. Section 12 (2) (a) provides that a licence must not be granted to a company if any shareholder, director or officer of that company, has been convicted of any offence involving fraud, dishonesty or violence,” said the legislation which points out that the amendment seeks to extend the application to beneficial owners as well and insert a definition for “beneficial owner”.
The conviction could have occurred anywhere around the world.
Under the Casino Gaming amended legislation “beneficial owner” means the natural person who ultimately owns or controls the company, hotel, or resort or on whose behalf of the business activity is being conducted and includes, though not restricted to:
- in the case of a juridical person other than a company whose securities are listed on a recognised stock exchange, a natural person who ultimately owns or controls, whether directly or indirectly, 10 or more percent of the shares or voting rights in the juridical person; or
- in the case of a juridical person, a natural person who otherwise exercises control over the management of the juridical person; or
- in the case of a legal arrangement— (i) the partner or partners who control the partnership; (ii) the trustee or other person who controls the applicant; and (iii) the settlor or other persons by whom the legal arrangement is made, and includes ownership through a trustee, legal representative, agent or other intermediaries.”
Keep casinos out of Grenada, they bring all kinds of problems. Casinos, high rise hotels, cocaine, prostitution all go together this is common knowledge. But in reality the Grenada we all loved before Ivan is gone. Foreign money is buying the island a piece at a time. The government approves of this as they profit. What, I ask, will you tell your children? Stories of when Grenada was in island paradise? Stories of times before China and others took over? Stories of when we lived in the hills but now we in “housing units” because our land was taken from us?
Grenada has passed the point of no return, all is lost I fear.
This s joke that is not funny!
does this apply to members of Government!!!
eh .. eh ..
Does that apply to the Chineses.
YES AND AMERICANS TOO