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3rd Session of the 11th Republican Parliament

The Insurance Bill, 2016

An Act to repeal and repalce the Insurance Act, Chap. 84:01; to reform the law relating to insurance companies; to regulate insurance businesses and privately administered pension fund plans and for other related purposes

The purpose of the Insurance Bill, 2016 is to provide a new regulatory framework for the insurance industry and to continue to provide for the regulation of privately administered pension fund plans and to repeal the existing Insurance Act, Chap. 84:01. The Bill as introduced requires a special (three-fifths) majority in order to be passed.

View the Bill Essentials here.

This Bill was brought forward from the Second Session of the 11th Parliament after the work of the Joint Select Committee considering the matter was saved.

Introduced By:
Colm Imbert
Bill No:
House of Representatives Bill 9 of 2016
Introduced On:
01-Jul-2016
Status
President of the Republic - Partially Proclaimed

Progress

1 Jul 2016
House of Representatives
1st Reading of the Bill Hansard
This Bill was carried over from the Second Session of the 11th Parliament.
1 speakersShow Speakers
1.Hon. Colm Imbert, MP [Diego Martin North/East] [Minister of Finance]
2 Feb 2018
Committee Report Debated
2 speakersShow Speakers
1.Hon. Colm Imbert, MP [Diego Martin North/East] [Minister of Finance]
2. Dr. Surujrattan Rambachan, MP [Tabaquite] [Opposition Member]
16 Feb 2018
Committee Report Debated
7 speakersShow Speakers
1.Hon. Faris Al-Rawi, SC, MP [San Fernando West] [Attorney General]
2. Dr. Bhoendradatt Tewarie, MP [Caroni Central] [Opposition Member]
3. Dr. Tim Gopeesingh, MP [Caroni East] [Opposition Member]
4.Hon. Stuart Young, SC, MP [Port-of-Spain North/St. Ann’s West] [Minister in the Office of the Attorney General and Legal Affairs and Minister in the Office of the Prime Minister]
5.Mr. Ganga Singh, MP [Chaguanas West] [Opposition Member]
6.Mr. Rudranath Indarsingh, MP [Couva South] [Opposition Member]
7.Hon. Colm Imbert, MP [Diego Martin North/East] [Minister of Finance]
16 Feb 2018
3rd Reading and Passage of the Bill
1 speakersShow Speakers
1.Hon. Colm Imbert, MP [Diego Martin North/East] [Minister of Finance]
20 Feb 2018
Senate
1st Reading of the Bill Hansard
Bill Incorporating House Amendments
1 speakersShow Speakers
1.Hon. Colm Imbert, MP [Diego Martin North/East] [Minister of Finance]
18 May 2018
2nd Reading of the Bill Hansard
10 speakersShow Speakers
1.Hon. Colm Imbert, MP [Diego Martin North/East] [Minister of Finance]
2.Sen. Wade Mark [Opposition Senator]
3.Sen. Dr. Dhanayshar Mahabir [Independent Senator]
4.Sen. the Hon. Clarence Rambharat [Minister of Agriculture, Land and Fisheries]
5.Sen. Taharqa Obika [Opposition Senator]
6.Sen. Taurel Shrikissoon [Independent Senator]
7.Sen. Dr. Lester Henry [Government Senator]
8.Sen. Sean Sobers [Opposition Senator (Temporary)]
9.Sen. Ronald Duke [Independent Senator (Temporary)]
10.Sen. the Hon. Allyson West [Minister in the Ministry of Finance]
18 May 2018
Committee Stage Hansard
18 May 2018
3rd Reading and Passage of the Bill Hansard
27 voted for, 0 voted against, 0 abstentions
1 speakersShow Speakers
1.Sen. the Hon. Allyson West [Minister in the Ministry of Finance]
4 Jun 2018
President of the Republic
Assent: Awaiting Proclamation
1 Jan 2021
Partially Proclaimed
All Sections of the Act came into operation, save and except for Sections 184 and 185 of the Act.
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