Act No. 4 of 1933
HOTEL AMENDMENT (1933) |
An Act to
amend the Hotel Act of 1924. | 4 of 1933 |
[Commencement 27th
April, 1933] |
WHEREAS The
Waterloo Hotel Company, Limited, a Company incorporated under the laws of the
Bahama Islands and carrying on business within The Bahamas is indebted to the
Government of the said Bahama Islands in the sum of two hundred and twenty
thousand pounds: |
AND WHEREAS the
said Waterloo Hotel Company, Limited, has agreed to pay to the Government of
the said Bahama Islands interest upon the said sum of two hundred and twenty
thousand pounds at the rate of four pounds per centum per annum from the first
day of January 1931: |
AND WHEREAS the
said Waterloo Hotel Company, Limited, is unable to pay interest upon the said
sum of two hundred and twenty thousand pounds at the rate of four pounds per
centum per annum in respect of the years 1931 and 1932. |
1. This Act
may be cited as the Hotel Amendment (1933) Act, and in so far as the context
may admit, shall be read and construed as one with the
Hotel (1924) Act. | Short title. |
2. (1) It
shall be lawful for The Waterloo Hotel Company, Limited (hereinafter referred
to as the "Company"), to pay to the Government of the said Bahama
Islands (hereinafter referred to as the "Government"), and for the
Government to accept the sum of three thousand pounds in full satisfaction of
the balance of interest due and owing upon the said sum of two hundred and
twenty thousand pounds in respect of which the Company is indebted to the
Government up to the 31st day of December 1932 in two equal instalments of one
thousand five hundred pounds each, the 31st day of March 1933 and the second
instalment on or before the 31st day of March 1934. | Government may accept £3,000
in satisfaction of interest. |
(2) The Company
shall be under no liability to pay to the Government interest on the said sum
of two hundred and twenty thousand pounds in respect of the years 1933 and 1934. |