CHAPTER
297
CUSTOMS DUTY (MOST FAVOURED-NATION TARIFF) |
ARRANGEMENT OF
SECTIONS |
SECTION |
|
|
Most-Favoured-Nation Tariff agreement and power
to levy Most-Favoured Nation Tariff. |
Preferential duty in conjunction with
Most-Favoured-Nation Tariff. |
Coming into operation of terms of
Most-Favoured-Nation Tariff Agreement. |
CHAPTER 297 |
CUSTOMS DUTY
(MOST-FAVOURED-NATION TARIFF) |
An Act to
authorise the levying of duties of customs specified in Most-Favoured-Nation
Tariff Agreements. | 34 of 1957
44 of 1959
G.N. 187/1964
E.L.A.O., 1974 |
[Assent 15th July,
1957]
[Commencement 1st June, 1957] |
1. This Act may be cited as the Customs Duty
(Most-Favoured-Nation Tariff) Act. | Short title. |
2. In this Act, unless the context otherwise requires- | Interpretation. |
"Most-Favoured-Nation
Tariff Agreement" means an agreement described in section 3 of this Act; |
"Government"
means the Government of The Bahamas; |
"Most-Favoured-Nation
Tariff" means a rate or amount of customs duty specified in a Most
Favoured-Nation Tariff Agreement in respect of a product imported into The
Bahamas. |
3. When the Government has made an Agreement with
another State by which a reduced rate or amount of customs duty is specified in
respect of a product of The Bahamas imported into that other State in
reciprocation for a reduced rate or amount of customs duty in respect of a
product of that other State imported into The Bahamas, customs duty shall,
subject to the provisions of section 5 of this Act, be levied at such reduced rate
or amount on the importation into The Bahamas, of such products- | Most-Favoured Nation Tariff Agreement and power to
levy Most-Favoured Nation Tariff. |
(a) from that
other State; and |
(b) from all
states which are contracting parties to an Agreement known as The General
Agreement on Tariffs and Trade to which the Government is a party; and |
(c) from all
other states with which the Government has entered into Most-Favoured-Nation
Tariff Agreements, instead of at the rate or amount of customs duty prescribed
for such product by the Tariff
Act, or any Act passed in amendment thereof or in substitution thereof. |
4. When a Most-Favoured-Nation Tariff Agreement
specifies a preferential rate, amount or margin of customs duty in conjunction
with a Most-Favoured-Nation Tariff, such preferential rate, amount or margin of
duty, as the case may be, shall, subject to the provisions of section 5 of this
Act, be allowed instead of the preferential rate, amount or margin of customs
duty, as the case may be, allowed by the Tariff Act, or any Act passed
in amendment thereof or in substitution therefor. | Preferential duty in conjunction with
Most-Favoured-Nation Tariff. |
5. It shall be lawful for the Governor-General by Order
to declare the date from which the terms of any Most-Favoured-Nation Tariff
Agreement shall become effective in The Bahamas. | Coming into operation of terms of Most-Favoured-Nation
Tariff Agreement. |