745

(a) Upon proper application or reapplication, public hearing and in compliance with all other relevant provisions of this chapter pertaining to the grant of initial benefits, as determined and required by the Board, any recipient of tax incentive benefits granted under this subchapter may be granted an extension, modification or renewal of those benefits subject to the conditions stated herein.\n(1) Benefits must be granted pursuant to the provision of this subchapter only, and not pursuant to the provisions of any previous law.\n(2) The Commissioner of Labor shall certify the applicant’s compliance with all labor laws, and regulations prior to any extension, modification or renewal of benefits.\n(b) Certificate extensions, modifications or renewals are for a period approved by the Board.\n(c) The Board may grant an extension or modification of benefits under an existing certificate or grant a new certificate if the Board determines that the international financial services entity is helpful to the development of the economy of the Virgin Islands.