The Governor of St. Maarten

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Executive Council

Governor of St Maarten

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Central Gov. Rep. SXM

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Guidelines for placing campaign materials (November 4, 2005)

Great Bay - The Governor of the Island Territory of St. Maarten, Franklyn Richards, is calling on political parties and persons planning to contest the January 27, 2006 parliamentary elections, to bear in mind the guidelines applicable to the placing or attaching of party political propaganda materials, on public roads.

Political parties may place propaganda materials, such as billboards, posters and flags on the public roads, as of the period of December 9, 2005 up and until February 3, 2006, under certain conditions.

These conditions are that propaganda materials may not be placed, attached or left on propaganda materials of another political party.
Propaganda materials may not be placed on private property, without prior authorization of the owner or person renting that property.
Propaganda materials may not hinder or endanger traffic by being placed on traffic signs, traffic light poles and other road indicators.
In the interest of traffic safety, materials may not be placed at any location, where police prohibits this.

The contents of the propaganda materials may not be offensive in any way.

The political party placing these materials is responsible for damage, inconvenience or nuisance experienced by the public, as a result of the placing of o the presence of propaganda materials.

The political party placing propaganda materials additionally remains responsible for risks associated with eventual police actions, while all propaganda materials must be removed from public roads, by February 3, 2006.

Presentation on Corporate Governance on St. Maarten (November 2, 2005)

The following are the highlights of a presentation delivered by St. Maarten's Governor Franklyn Richards, at a NIVRA congress held on St. Maarten, on October 31, 2005, regarding Corporate Governance.

Agenda
- Introduction
- Corporate Governance
- Steps of Government in Corporate Governance
- The role at "arms length":
The Shareholder: Island Territory
Board of the Supervisory Directors
Management Board
- Instruments: financial and legal
- The Audit Committee (AC)

The Shareholder: Island Territory

The Island Territory is the owner of the shares in the government companies and is shareholder

The Governor is the shareholder representative

The Executive Council is charged with the administration of the shares of the Island Territory

The Island Council deliberates and decides in public meetings on the alienation and pledging and giving in usufruct of shares

Board of the Supervisory Directors

Articles of Incorporation describe the duties of the Board of Supervisory Directors

The duties of the Board of Supervisory Directors comprise in any case the advice to and the supervision of the Management Board

The Supervisory Board of Directors can be held personally liable for improper supervision

Management Board

Articles of Incorporation describe the duties of the Management Board

The duties of the Management Board comprise in any case the day to day management of the company and to make the policy framework for the company

The Managing Directors can be held personally liable for improper performance

At "arms length"

The use of financial and legal instruments of Corporate Governance must guarantee that the principal of "arms length" of the Government companies brings about that Government should make use of the legal administrative and financial instruments

The instruments are related to the rights and duties of the Shareholder, Supervisory Board of Directors and Management Board

Instruments: financial and legal (1)

Shareholder:
financial: providing of guidelines and instructions of business objectives as basis for the business plan (including investment plan); verification and ratification
financial: approval and decharge of the financial statements
financial: the Shareholder makes clear in a policy plan how dividends, concession fees and financial contributions in the general interest in Sint Maarten will be spend
legal: incorporation of good corporate governance guidelines for the Shareholder in the Articles of Incorporation / by-laws
legal: determination of profiles of the members of the Supervisory Board and Statutory Directors
legal: the Shareholder is advised by the external auditor and advisory body
legal: the Shareholder is entitled to acquire information from the company

Instruments: financial and legal (2)

Board of Directors:
financial: approval of the business- and investment plan and the financial statements
financial: determination of the remuneration (including expenses)
legal: incorporation of good Corporate Governance guidelines for the performance of (advice and supervision) the Board in the Articles of Incorporation / by-laws
legal: determination and monitoring of the performance based contracts with Management

Instruments: financial and legal (3)

Managing Board:

financial: the preparation of the business- and investment plan

legal: incorporation of good Corporate Governance guidelines for the performance in the Articles of Incorporation / by-laws

The Audit Committee (AC)

AC consists of members of the Supervisory Board of Directors

AC meets on regular basis with:
Management
External auditor (at least 2 times a year)

AC monitores the internal control plan ("AO/IC") and internal financial monthly reports

AC advises the Supervisory Board on the financial statements

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