social fund

Grenlec is challenging the constitutionality of Government’s newly-legislated five percent “Social Fund” levied solely on the Company. On Monday, 12 February 2018, Grenlec filed a lawsuit against the Government of Grenada to protect the rights of its nearly 1600 shareholders. Grenlec contests the legality of Section 20 of the Electricity Supply (Amendment) Act 2017 which […]

Grenlec is strongly objecting to legislation proposed by the Government of Grenada requiring the Company to pay five percent of Grenlec’s pre-tax profits to a Government-controlled “Social Fund” controlled by the Minister and a Minister-appointed committee. If enacted, this new law will effectively eliminate the Grenlec Community Partnership Initiative (GCPI), which has invested more than […]

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