QU OF NT AT A FE RU

BERMUDA

HOTELS CONCESSION (HAMILTON PRINCESS AND BEACH CLUB) ORDER 2016

BR 76 / 2016

WHEREAS Hamilton Properties Limited has submitted an application dated 9 February

2016 for a hotel concession order under section 3 of the Hotels Concession Act 2000 in respect of the Hamilton Princess and Beach Club redevelopment; WHEREAS the Minister responsible for tourism, having considered the application, is satisfied that the hotel redevelopment is in the national economic interest of Bermuda; THEREFORE the Minister responsible for tourism, with the written agreement of the Minister of Finance, in exercise of the powers conferred by section 4 of the Hotels Concession Act 2000, makes the following Order:

Citation

1 This Order may be cited as the Hotels Concession (Hamilton Princess and Beach Club) Order 2016.

Interpretation

2 In this Act— “Act” means the Hotels Concession Act 2000; “hotel” means the Hamilton Princess & Beach Club as redeveloped by the hotel developer; “hotel developer” means the Hamilton Properties Limited, a company incorporated in Bermuda on 10 January 1984; “hotel redevelopment” means the Hamilton Princess and Beach Club redevelopment in respect of 36 Bermudiana Road to provide for staff

HOTELS CONCESSION (HAMILTON PRINCESS AND BEACH CLUB) ORDER

accommodation, offices and storage as described in the hotel developer’s application submitted under section 3 of the Act; “opening date” means the date on which the hotel redevelopment is certified by the Minister to be complete.

Concessions

3 Subject to paragraph 4, the hotel developer shall in respect of the hotel redevelopment be entitled to the following concessions—

(a) full relief from customs duty until a year after the hotel’s opening date in respect of any building materials, furnishings, fixtures and equipment which are necessary for the building, furnishing and equipping of the hotel redevelopment; and

(b) for a period beginning with the opening date and ending on the fifth anniversary of that date, full exemption from land tax otherwise payable in respect of the hotel, up to an amount not exceeding $200,000.00 in each year of assessment.

Terms and conditions

4 Any concession granted by paragraph 3, if it has not ceased to have effect by 31 December 2022, shall cease to have effect immediately after that date.

Made this 3rd day of August 2016

Minister of Tourism, Transport & Municipalities