BASSETERRE, St. Kitts - THE legitimacy of the Sugar Industry Diversification Foundation (SIDF) was questioned by an Opposition Parliamentarian who claimed that the law does not allow for such an organisation.
Speaking at a Team Unity public meeting last night (Jan. 11) in Cayon, Parliamentary Representative for Constituency Eight, the Hon. Eugene Hamilton stated that according to the Constitution, the funds raised by the Citizenship by Investment Programme should be placed in the Consolidated Fund as opposed to the SIDF.
“The account where he supposed to put the money is the treasury. I want you all when you go home to think about this…look up 1983 Constitution, go to Section 69.
“The only how the money doesn’t go in the treasury is if goes to an account for a specific purpose, but it has to be a government fund…not a private fund. That is what Section 69 said.”
He added that the Government’s claim of the SIDF being a private fund is going against the Constitution.
“When I raised the question with Douglas in Parliament, he told me it was a private fund. Government can’t own a private fund, Government owns a statutory fund. Once it is private it not government’s own. That is why the Director of Audit don’t audit it because it is private.”
Section 69 of the Constitution states: “All revenue or other moneys raised or received by the Government (not being revenues or other moneys that are payable, by or under any law, into some other fund of the Government established for a specific purpose) shall be paid into and form a Consolidated Fund.”
