House of Representatives

Motions

Increase in Borrowing – Treasury Notes Act

- 1st Session - 6th Republican Parliament

WHEREAS it is provided by section 3(1) Treasury Notes Act, that the Minister on the written advice of the Governor of the Central Bank 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 or the equivalent thereof in any foreign currency or currencies and such further sum or sums as may be specified by resolution of Parliament, or the equivalent thereof in any foreign currency or currencies, by the issue of Notes:

AND WHEREAS it is provided by subsection (2) of the said section that the Minister may borrow further sums for the purpose of paying off at maturity Notes issued under subsection (1), by further issue of Notes:

AND WHEREAS it is necessary for the Minister of Finance to borrow further sums of money for the purposes stated in the said section:

BE IT RESOLVED that for the purposes stated in the said section, the Minister of Finance is hereby authorized to borrow such further sum or sums in Trinidad and Tobago, not exceeding in the aggregate one thousand million Trinidad and Tobago dollars or the equivalent thereof in any foreign currency or currencies.

(By the Minister of Finance)

12 Sep 2001
Approved
House Debate
5 speakersShow Speakers
1.Mr. Gerald Yetming [Minister of Finance]
2.Mr. Hedwige Bereaux [La Brea] [Opposition Member]
3.Mr. Nathaniel Moore [Tobago East] [Opposition Member]
4.The Honourable Kenneth Valley [Diego Martin Central] [Opposition Chief Whip]
5.Mr. Gerald Yetming [Minister of Finance]