Motions

WHEREAS it is an established fact that the best indication of what could happen in the future is to observe what has happened in the past;

AND WHEREAS during his tenure as Chief Executive Officer and/or Managing Director of state-owned First Citizens Bank, Mr. Larry Howai came under serious allegations for insider trading;

AND WHEREAS there is Senior Counsel advice that a strong case could be made for his prosecution in a Court of Law;

AND WHEREAS the said Mr. Howai voluntarily left the bank to become the Minister of Finance of Trinidad and Tobago;

AND WHEREAS issues of insider trading arose within the bank under his stewardship as Minister;

AND WHEREAS the Government through the Ministry of Finance is committed to further disposal of state enterprise shares thereby opening the possibility of further insider trading:

BE IT RESOLVED that this Honourable House note with concern these serious allegations and express its lack of confidence in the Minister of Finance.

(By the Leader of the Opposition)