Wave & El Guardian at UDP headquarters

The BELIZE TIMES exposed, in last week’s front page story, that El Guardian and Wave Radio have been breaking the law and operating illegally for more than seven years by not filing annual returns as stipulated by the Companies Act (Chapter 250 of the Laws of Belize).

Documents at the Companies Registry show that for eight years Wave Radio has failed to provide such information.

El Guardian has refused to give an account of its operations since 1999. The UDP newspaper appears to be even guiltier of such breach because in November 2005 the office of Registrar General reportedly warned the company that it had not been complying with the provisions of the Companies Act in respect to the years 1999 to 2005.

There are no other documents at the Companies Registry indicating that El Guardian corrected their errors, or whether the then Registrar General Minnet Hafiz took action.

The existing documents on Wave Radio, filed in 2000, disclose that the shareholders were Prime Minister and UDP Leader Dean Barrow, Henry Young and Michael Godoy.

El Guardian’s shares were divided into 10 shares of $1,000 each held by Prime Minister Dean Barrow and Michael Finnegan.

Why have Prime Minister Dean Barrow and Michael Finnegan, both elected members of the House of Representatives who swore to respect the law, allowed their companies Wave Radio and El Guardian to break the law?

Under the Companies Act any company found in violation is required to pay a fine of $25 for every day of the breach. This fine is for almost every violation found under the act, and the BELIZE TIMES research shows that Wave and El Guardian have been ignoring the Act in several aspects.

Chapter 26 states that every company shall keep a register of its members and enter it into a Register. Failure to comply results in a fine not more than $25 for every day during which the default continues, and every director and manager of the company who knowingly and wilfully authorises or permits the default shall be liable to the like penalty.

Chapter 27 requires an annual list of members and summary which should be filed to the Belize Companies Registry. Failure of compliance results in a fine not more than $25 for every day during which the default continues.

Chapter 75 requires that a list of company directors should be sent to the Registrar, and in the failure of such, the company shall be liable to a fine of not more than $25 for every day during which the default continues; and every director and manager of the company who knowingly and wilfully authorises or permits the default shall be liable to the like penalty.

Registrar General Aldo Salazar said that three weeks ago he directed his Office to compile an updated list of companies that have been in violation of the Companies Act. He is waiting for the completion of such list before any action, if necessary, is taken on any company that has been breaking the law.

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