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The Panama Canal Authority ( es, Autoridad del Canal de Panamá (ACP)) is the agency of the government of
''Organic Law''
, from the Panama Canal Authority
Because of its unique nature, the ACP has financial autonomy, as well as ownership of the canal's assets.
The Board of Directors is responsible for establishing policies for the operation, improvement, and modernization of the Canal, as well as supervising its management pursuant to the National Constitution, the Panama Canal Authority Organic Law, and the Regulations thereto appertaining.
The board of directors is made up as follows:
* One Director designated by the President of the Republic, who shall chair the Board of Directors and shall have the rank of Minister of State for Canal Affairs.
* One Director designated by the Legislative Branch, who may be freely appointed or removed thereby.
* Nine Directors appointed by the President of the Republic with the consent of the Cabinet Council and ratification by an absolute majority of the members of the Legislative Assembly.
The Directors shall serve in their posts for a term of 9 years, and may only be removed for the reasons set forth in Article 20 of the Panama Canal Authority Organic Law.
The Panama Canal is defined by law to be an inalienable patrimony of the Republic of Panama. Therefore, it may not be sold, assigned, mortgaged, or otherwise encumbered or transferred.
Official website
{{Coord, 8, 57, 35.50, N, 79, 33, 18, W, type:landmark_region:PA, display=title Panama Canal Government of Panama Organizations based in Panama
Panama
Panama ( , ; es, link=no, Panamá ), officially the Republic of Panama ( es, República de Panamá), is a transcontinental country spanning the southern part of North America and the northern part of South America. It is bordered by Co ...
responsible for the operation and management of the Panama Canal
The Panama Canal ( es, Canal de Panamá, link=no) is an artificial waterway in Panama that connects the Atlantic Ocean with the Pacific Ocean and divides North and South America. The canal cuts across the Isthmus of Panama and is a condui ...
. The ACP took over the administration of the 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
The United States of America (U.S.A. or USA), commonly known as the United States (U.S. or US) or America, is a country Continental United States, primarily located in North America. It consists of 50 U.S. state, states, a Washington, D.C., ...
to Panama
Panama ( , ; es, link=no, Panamá ), officially the Republic of Panama ( es, República de Panamá), is a transcontinental country spanning the southern part of North America and the northern part of South America. It is bordered by Co ...
as per the Torrijos–Carter Treaties. It is headquartered in Balboa, a district of Panama City
Panama City ( es, Ciudad de Panamá, links=no; ), also known as Panama (or Panamá in Spanish), is the capital and largest city of Panama. It has an urban population of 880,691, with over 1.5 million in its metropolitan area. The city is loca ...
.
Establishment
The Panama Canal Authority is established under Title XIV of the National Constitution, and has exclusive responsibility for the operation, administration, management, preservation, maintenance, and modernization 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 canal's organization and operation., from the Panama Canal Authority
Organization
Because of its unique nature, the ACP has financial autonomy, as well as ownership of the canal's assets.
The Board of Directors is responsible for establishing policies for the operation, improvement, and modernization of the Canal, as well as supervising its management pursuant to the National Constitution, the Panama Canal Authority Organic Law, and the Regulations thereto appertaining.
The board of directors is made up as follows:
* One Director designated by the President of the Republic, who shall chair the Board of Directors and shall have the rank of Minister of State for Canal Affairs.
* One Director designated by the Legislative Branch, who may be freely appointed or removed thereby.
* Nine Directors appointed by the President of the Republic with the consent of the Cabinet Council and ratification by an absolute majority of the members of the Legislative Assembly.
The Directors shall serve in their posts for a term of 9 years, and may only be removed for the reasons set forth in Article 20 of the Panama Canal Authority Organic Law.
The Panama Canal is defined by law to be an inalienable patrimony of the Republic of Panama. Therefore, it may not be sold, assigned, mortgaged, or otherwise encumbered or transferred.
Board of directors
The Panama Canal Authority Board of Directors is responsible for establishing policies for the operation, improvement, and modernization of the Canal, as well as supervising its management. At present, the Panama Canal Authority Board of Directors is made up of the following members:References
External links
Official website
{{Coord, 8, 57, 35.50, N, 79, 33, 18, W, type:landmark_region:PA, display=title Panama Canal Government of Panama Organizations based in Panama