This Act empowers the Minister of Transport of the United Kingdom of Great Britain and Northern Ireland to acquire, hold and dispose of land and interests in land in the The Bahamas. Notwithstanding the provisions of any Act all lands and interests in land described in the Schedule to this Act are hereby vested in the Minister of Transport.
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Lucayan Indians inhabited the islands when Christopher COLUMBUS first set foot in the New World on San Salvador in 1492. British settlement of the islands began in 1647; the islands became a colony in 1783. Since attaining independence from the UK in 1973, The Bahamas has prospered through tourism, international banking, and investment management. Because of its location, the country is a major transshipment point for illegal drugs, particularly shipments to the US and Europe, and its territory is used for smuggling illegal migrants into the US.