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Open request to CARICOM to launch an investigation in Turks and Caicos
Published on September 6, 2013 Email To Friend    Print Version

Ambassador Irwin LaRocque
Secretary General
CARICOM

Dear Sir,

Request for investigation into possible nationalisation

This comes as a request for Caricom to investigate the possible nationalisation of a 1M USD private asset in the TCI.

On Wednesday the Attorney General of the Turks and Caicos Islands announced that the office of the AG had secretly entered and taken possession of a private asset namely a building known as the PNP Headquarters on Airport Road in the Island of Providenciales, Turks and Caicos Islands. This action came after years of legal wrangling between the PNP and the Government of the actual owner of the land.

In my personal view, this move is counter progressive and will do nothing for the TCI as a country as the building is the private asset of a major political party and is essential in the political landscape of the nation.

Nationalisation is the process of taking a private industry or private assets into public ownership by a national government or state. The traditional Western stance on nationalization is that the governments who nationalize assets should compensate the entities’ that owned the asset. The stance on compensation was expressed by United States Secretary of State Cordell Hull, during the 1938 Mexican nationalization of the petroleum industry, that compensation should be "prompt, effective and adequate." According to this view, the nationalising state is obligated under international law to pay the deprived party the full value of the property taken.

The idea of a Caribbean Government nationalising private assets is particularly disturbing in this day and age, and while my personal view may not warrant immediate compensation, I find that there is compelling evidence both in this particular case and in the recently published CARICOM report on the TCI that warrant CARICOM investigating my claim.

I hereby pray that you would look on my humble request in a favorable way and have CARICOM launch an investigation into the possible nationalization before it becomes the norm in the region.

Sincerely

Devon Williams
TCI Citizen
 
Reads: 2817





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