Dominica Banana Marketing Corporation (Divestiture and Restructuring) Act (No. 18 of 2002).

The object of this Act is to wind up the Dominica Banana Marketing Corporation as soon as possible and to divestiture the business, assets and liabilities of the Corporation in an orderly manner. For this purpose the Minister responsible for Agriculture shall appoint a Manager under section 5 who shall be assisted by a Liquidation Committee established under section 4. Powers of the Corporation shall be vested in the Manger who shall act as company liquidator. Another company, to be called the Banana Holding Company Limited shall be established by the Manager under section 9. That company shall hold property and other assets vested in the Manager, hold a financial participation in another specified company and generally take such actions as necessary to develop the banana industry in Dominica. Before designation of officers of the company the Manager shall act as trustee (sect. 12). A Creditor’s Steering Group shall be constituted by the Minister under section 13. The Manager shall promote the establishment of foundations which shall act as commercial interface on behalf of banana growers, facilitate procurement of inputs, supplies and services required by banana growers and provide support for all aspects of agricultural and other small business development.