This Act stipulates that, notwithstanding any provision to the contrary made in or under the Act but subject to section 5 of this Act, it is lawful for the Base Lands to be developed and used in accordance with the Base Lands Plan. The Plan has effect by virtue of this rule as a development plan under the Act in relation to those Lands. Subsection (1) of section 9 of the Development and Planning Act 1974 applies in relation to the Base Lands so that the review of the development plan entitled "The Bermuda Plan 1992" which is due to be made under that subsection next after the commencement of this Act shall include proposals for the development and use of the Base Lands as part of that review.
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Bermuda was first settled in 1609 by shipwrecked English colonists heading for Virginia. Self-governing since 1620, Bermuda is the oldest and most populous of the British overseas territories. Vacationing to the island to escape North American winters first developed in Victorian times. Tourism continues to be important to the island's economy, although international business has overtaken it in recent years. Bermuda has also developed into a highly successful offshore financial center. A referendum on independence from the UK was soundly defeated in 1995.