Panama Canal Authority
Encyclopedia
The Panama Canal Authority is the agency of the government of Panama
responsible for the operation and management of the Panama Canal
. The ACP took over the administration of the Panama Canal
from the Panama Canal Commission, the joint US–Panama agency that managed the Canal, on December 31, 1999, when the canal was handed over from the United States
to Panama
as the Torrijos-Carter Treaties
stated.
The Organic Law of the Panama Canal Authority, passed on June 11, 1997, provides the legal framework for the organization and operation of the canal.
Because of its unique nature, the ACP has financial autonomy, as well as ownership of the canal's assets.
The ACP is headed by an administrator and deputy administrator, supervised by a board of directors. The administrator is the legal representative of the authority, and is responsible for the implementation of policies decided upon by the board. The administrator is appointed for a term of seven years; he/she may serve at most two terms. The current administrator is Alberto Alemán Zubieta, who is in his second term.
The board of directors is made up as follows:
The Panama Canal is defined by law to be an inalienable patrimony of the Republic of Panama; it may therefore not be sold, assigned, mortgaged, or otherwise encumbered or transferred.
Panama
Panama , officially the Republic of Panama , is the southernmost country of Central America. Situated on the isthmus connecting North and South America, it is bordered by Costa Rica to the northwest, Colombia to the southeast, the Caribbean Sea to the north and the Pacific Ocean to the south. The...
responsible for the operation and management of the Panama Canal
Panama Canal
The Panama Canal is a ship canal in Panama that joins the Atlantic Ocean and the Pacific Ocean and is a key conduit for international maritime trade. Built from 1904 to 1914, the canal has seen annual traffic rise from about 1,000 ships early on to 14,702 vessels measuring a total of 309.6...
. The ACP took over the administration of the Panama Canal
Panama Canal
The Panama Canal is a ship canal in Panama that joins the Atlantic Ocean and the Pacific Ocean and is a key conduit for international maritime trade. Built from 1904 to 1914, the canal has seen annual traffic rise from about 1,000 ships early on to 14,702 vessels measuring a total of 309.6...
from the Panama Canal Commission, the joint US–Panama agency that managed the Canal, on December 31, 1999, when the canal was handed over from the United States
United States
The United States of America is a federal constitutional republic comprising fifty states and a federal district...
to Panama
Panama
Panama , officially the Republic of Panama , is the southernmost country of Central America. Situated on the isthmus connecting North and South America, it is bordered by Costa Rica to the northwest, Colombia to the southeast, the Caribbean Sea to the north and the Pacific Ocean to the south. The...
as the Torrijos-Carter Treaties
Torrijos-Carter Treaties
The Torrijos–Carter Treaties are two treaties signed by the United States and Panama in Washington, D.C., on September 7, 1977, which abrogated the Hay-Bunau Varilla Treaty of 1903...
stated.
Establishment
The Panama Canal Authority is established under Title XIV of the National Constitution, and has exclusive charge of the operation, administration, management, preservation, maintenance, and modernisation of the Canal. It is responsible for the operation of the canal in a safe, continuous, efficient, and profitable manner.The Organic Law of the Panama Canal Authority, passed on June 11, 1997, provides the legal framework for the organization and operation of the canal.
Organization
The ACP is headed by an administrator and deputy administrator, supervised by a board of directors. The administrator is the legal representative of the authority, and is responsible for the implementation of policies decided upon by the board. The administrator is appointed for a term of seven years; he/she may serve at most two terms. The current administrator is Alberto Alemán Zubieta, who is in his second term.
The board of directors is made up as follows:
- Nine members are appointed by the president of Panama; these appointments require the approval of the Cabinet Council and a majority of the legislative branch.
- One director is appointed by the legislative branch, at its sole discretion.
- The chair of the board, who is also the Minister of State for Canal Affairs, is appointed directly by the president; the Minister is also a full member of the Cabinet Council.
The Panama Canal is defined by law to be an inalienable patrimony of the Republic of Panama; it may therefore not be sold, assigned, mortgaged, or otherwise encumbered or transferred.
Board of directors
The Panama Canal Authority Board of Directors is, as of November 2010, comprised by the following members:- Rómulo Roux - Minister of Canal Affairs and Chairman of the Board
- Adolfo Ahumada
- Marco A. Ameglio S.
- Rafael E. Bárcenas P.
- Guillermo O. Chapman, Jr.
- Nicolás Corcione
- Ricardo de la EspriellaRicardo de la EspriellaRicardo de la Espriella Toral was President of Panama from July 31, 1982 to February 13, 1984.Ricardo de la Espriella is a Stanford-trained economist, and was a conservative head of the National Bank of Panama until he became Vice President in 1978, when the all-powerful National Guard pressed...
- Norberto R. Delgado D.
- Eduardo A. Quirós B.
- Alfredo Ramírez, Jr.
- José A. Sosa A.