Regulatory Alerts2019-01-01
The Miscellaneous Provisions (Proceeds of Crime and Central Bank) Act No. 22 of 2019
The Parliament of Trinidad and Tobago enacted this Act to amend the Central Bank Act and the Proceeds of Crime Act. The legislation empowers the Minister to direct the Central Bank to cancel and redeem specified currency notes, establishing procedures for redemption prior to and after an appointed cancellation date. Additionally, the Act amends section 55(3C) of the Proceeds of Crime Act and updates the Financial Obligations Regulations to replace fixed monetary thresholds with amounts prescribed by the Minister.
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