Motions
Increase in Borrowing – Treasury Notes Act
House of Representatives - 4th Session - 10th Republican Parliament
WHEREAS section 3(1) of the Treasury Notes Act, Chap. 71:39 provides that the Minister of Finance and the Economy on the written advice of the Governor of the Central Bank of Trinidad and Tobago may, for the purposes of promoting monetary credit and exchange conditions most favourable to the economy of Trinidad and Tobago, borrow money in Trinidad and Tobago in such sum or sums not exceeding in the aggregate, one thousand million Trinidad and Tobago dollars and such further sum or sums or the equivalent thereof in any foreign currency or currencies as may be specified by resolution of Parliament, by the issue of Notes;
AND WHEREAS it is necessary for the Minister of Finance and the Economy to borrow further sums of money for the purposes stated in section 3(1) of the Act:
BE IT RESOLVED that for the purposes of promoting monetary credit and exchange conditions most favourable to the economy of Trinidad and Tobago, the Minister of Finance and the Economy is hereby authorized to borrow such further sum or sums in Trinidad and Tobago, not exceeding in the aggregate, fifteen thousand million Trinidad and Tobago dollars or the equivalent thereof in any foreign currency or currencies, by the issue of Notes.
(By the Minister of Finance and the Economy)
