Division 1
Responsibilities of the Minister
(1) The powers of the Minister are —
(a) to appoint, by an agency agreement, an agent of Government to facilitate, in the case of government securities —
(i) issuance,
(ii) registration,
(iii) management,
(iv) redemption, and
(v) repayment;
(b) to sign —
(i) in the case of Government securities, agreements and other documents on behalf of the Government,
(ii) in the case of a Government guarantee, documents;
(c) to authorize, in writing, the Director of Finance or Head of a Foreign Mission to sign on his or her behalf Government securities, a Government guarantee or a loan agreement;
(d) to submit to Cabinet, no later than 2 months before the end of the financial year, the report under section 15(3) for approval;
(e) in relation to Government debt management activities, to agree with a lender to —
(i) repurchase outstanding Central Government debt,
(ii) repay or prepay principal or interest due on outstanding Central Government debt,
(iii) renegotiate the terms and conditions of outstanding public debt,
(iv) reopen Government securities, to reduce fragmented issuance and build larger benchmark Government securities,
(v) convert debt from one form to another,
(vi) exchange outstanding Government securities with other types of Government securities on such conditions under this Act,
(vii) consolidate two or more Government securities into a single Government security, and
(viii) undertake other Government debt management activities.
(2) The powers of the Minister under subsection (1)(a) does not affect the power of the Eastern Caribbean Central Bank, the Eastern Caribbean Securities Exchange Limited or any other entity.