Dave posted:Django posted:
Here is how NICIL became Government owned.
NICIL was incorporated as a Private Limited Company under the Companies Act, Chapter 89:01 in July 1990.
A new Companies Act was enacted in 1991 with effect from May 1995 by the Companies Act (Commencement) Order, No. 25 of 1995 and NICIL was registered as a continuing company
pursuant to Section 339 of the new Act in 1998. NICIL is 100 percent owned by the Government of Guyana.
I thought you will show this below, since it has more relevance to the question / subject.
NICIL engages in many activities such as:
- being the holding company for Government owned minority/majority interests, property management which includes the acquisition / disposal / rental of Government owned properties,
- Monitoring Government’s equity in other companies and acting as agents for other Government agencies in the disposal of properties or management of companies.
NICIL has a Board of Directors that consists of Minister of Finance, the Head of the Presidential Secretariat, the CEO of Go-Invest, an opposition representative and the Executive Director of NICIL.
Exactly my point. NICIL doesn't just turn soil just because they sell a piece of land. Land they currently has no authority to sell given the current paralyzed state of the Coalition.