Government-Mandated “Social Fund” Levied Solely on Grenlec Prompts Lawsuit, Suspension of GCPI Grants
Tuesday, 13 February 2018: Grenlec is challenging the constitutionality of Government’s newly-legislated five percent (5%) “Social Fund” levied solely on the Company. On Monday, 12 February 2018, Grenlec filed a lawsuit to protect the rights of its nearly 1600 shareholders. Grenlec contests the legality of Section 20 of the Electricity Supply (Amendment) Act 2017 which […]