Act No. 12 of 2019 – Miscellaneous Provisions (Financial Institutions, Securities and Insurance) Act, 2019

BILL
AN ACT to amend the Financial Institutions Act, Chap. 79:09, the Securities Act, Chap. 83:02 and the Insurance, Act No. 4 of 2018 [Assented to 21st June, 2019] ENACTED by the Parliament of Trinidad and Tobago as follows:

1. This Act may be cited as the Miscellaneous
   Enactment
   Short title
   Fourth Session Eleventh Parliament Republic of Trinidad and Tobago REPUBLIC OF TRINIDAD AND TOBAGO Act No. 12 of 2019 [L.S.]

Provisions (Financial Institutions, Securities and Insurance) Act, 2019.
2. The Financial Institutions Act is amended—
(a) in section 2, insert after the definition “principal representative” the following new definition:
“proliferation financing” means the act of providing funds or financial services which are used, in whole or in part, for the manufacture, acquisition, possession, development, export, transshipment, brokering, transport, transfer, stockpiling or use of nuclear, chemical or biological weapons and their means of delivery and related materials, including both technologies and dual-use goods used for non-legitimate purposes, in contravention of any written law or, where applicable, international obligations;”; (b) in section 10(c) by— (i) inserting after the words “Anti￾Terrorism Act,” the words “Economic Sanctions Act or Orders made thereunder as they relate to proliferation financing,”; (ii) deleting the words “and combating” and substituting the words “, combating”; and (iii) inserting after the word “of terrorism” the words “and proliferation financing”; and (c) in section 33(2)(a) by— (i) inserting after the words “contra￾vention of” the words “the Chap. 79:09 amended 2 No. 12 Miscellaneous Provisions (Financial Institutions, 2019 Securities and Insurance)

Economic Sanctions Act and any Orders made thereunder as they relate to proliferation financing, the Anti-Terrorism Act and”; (ii) deleting the words “and the combating” and substituting the words “, the combating”; and (iii) inserting after the word “financing” the words “and proliferation financing”.
3. The Securities Act is amended in—
(a) section 4(1), by inserting after the definition of “private issuer” the following new definition:
“proliferation financing” means the act of providing funds or financial services which are used, in whole or in part, for the manufacture, acquisition, possession, development, export, transshipment, brokering, transport, transfer, stockpiling or use of nuclear, chemical or biological weapons and their means of delivery and related materials, including both technologies and dual-use goods used for non-legitimate purposes, in contravention of any written law or, where applicable, international obligations;”; (b) section 6(i) by— (i) inserting after the words “Act,” the words “the Anti-Terrorism Act and the Economic Sanctions Act or Orders made thereunder as they relate to proliferation financing,”; (ii) deleting the words “and combating” Chap. 83:02 amended No. 12 Miscellaneous Provisions (Financial Institutions, 2019 3 Securities and Insurance)

and substituting the words “, combating”; and (iii) inserting after the word “terrorism” the words “, proliferation financing”; (c) section 57(1)(j) by— (i) inserting after the words “Act,”, the second time it appears, the words “the Anti-Terrorism Act, the Economic Sanctions Act or Orders made thereunder as they relate to proliferation financing,”; (ii) by deleting the words “and combating” and substituting the words “, combating”; and (iii) inserting after the word “terrorism” the words “, proliferation financing”. (d) section 58(2)(b) by— (i) inserting after the words “Act,” the words “the Anti-Terrorism Act and the Economic Sanctions Act or Orders made thereunder as they relate to proliferation financing,”; (ii) deleting the words “and combating” and substituting the words “, combating”; and (iii) inserting after the word “terrorism” the words “, proliferation financing”; (e) section 87(1)(a)(iii) by— (i) inserting after the words “Act,” the words “the Anti-Terrorism Act and the Economic Sanctions Act or Orders made thereunder as they relate to proliferation financing,”; 4 No. 12 Miscellaneous Provisions (Financial Institutions, 2019 Securities and Insurance)

(ii) deleting the words “and combating” and substituting the words “, combating”; and (iii) inserting after the word “terrorism” the words “, proliferation financing”; (f) section 89(1) by— (i) inserting after the words “Act,” the words “the Anti-Terrorism Act and the Economic Sanctions Act or Orders made thereunder as they relate to proliferation financing,”; (ii) deleting the words “and combating” and substituting the words “, combating”; and (iii) inserting after the word “terrorism” the words “, proliferation financing”; (g) section 90(1)(c) by inserting after the word “terrorism” the words “, proliferation financing”; and (h) section 146(1)(c) by— (i) inserting after the words “Act,” the words “the Anti-Terrorism Act and the Economic Sanctions Act or Orders made thereunder as they relate to proliferation financing,”; (ii) deleting the words “and combating” and substituting the words “, combating”; and (iii) inserting after the word “terror￾ism” the words “, proliferation financing”. No. 12 Miscellaneous Provisions (Financial Institutions, 2019 5 Securities and Insurance)

4. The Insurance Act, 2018 is amended in—
   (a) section 4, by inserting after the definition “privately administered pension fund plan” the following new definition:
   “proliferation financing” means the act of providing funds or financial services which are used, in whole or in part, for the manufacture, acquisition, possession, development, export, transshipment, brokering, transport, transfer, stockpiling or use of nuclear, chemical or biological weapons and their means of delivery and related materials, including both technologies and dual-use goods used for non-legitimate purposes, in contravention of any written law or, where applicable, international obligations;”; (b) section 34(1)(c) by— (i) deleting the words “or terrorist financing” and substituting the words “, terrorist financing or proliferation financing,”; and (ii) inserting after the words “there￾under” the words “, the Economic Sanctions Act or any Orders made thereunder as they relate to proliferation financing.”; (c) section 65(2)(a) by— (i) inserting after the words “there￾under” the words “, the Economic Sanctions Act or any Orders made thereunder as they relate to proliferation financing”; Act No. 4 of 2018 amended 6 No. 12 Miscellaneous Provisions (Financial Institutions, 2019 Securities and Insurance)

(ii) deleting the words “and the combating” and substituting the words “, the combating”; and (iii) inserting after the word “financing” the words “or proliferation financing”; (d) section 121(1)(o) by— (i) deleting the words “or terrorist financing” and substituting the words “, terrorist financing or proliferation financing,”; and (ii) inserting after the words “there￾under” the words “the Economic Sanctions Act or any Orders made thereunder as they relate to proliferation financing”; (e) section 136(3) by— (i) deleting the words “and the Anti-Terrorism Act and any regulations made thereunder” and substituting the words “, the Anti-Terrorism Act and any regulations made thereunder and the Economic Sanctions Act and any Orders made thereunder as they relate to proliferation financing”; (ii) deleting the words “and combating” and substituting the words “, the combating of”; and (iii) inserting after the word “financing” the words “or proliferation financing”; (f) section 147(8) by— (i) deleting the words “and the Anti-Terrorism Act and any No. 12 Miscellaneous Provisions (Financial Institutions, 2019 7 Securities and Insurance)

regulations made thereunder” and substituting the words “, the Anti-Terrorism Act and any regulations made thereunder and the Economic Sanctions Act and any Orders made thereunder as they relate to proliferation financing”; (ii) deleting the words “and combat￾ing” and substituting the words “, the combating of”; and (iii) inserting after the word “financing” the words “ or proliferation financing”; and (g) section 278 (1)(c) by— (i) insert after the words “the Anti￾Terrorism Act,” the words “the Economic Sanctions Act and any Orders made thereunder as they relate to proliferation financing,”; (ii) deleting the words “and combating” and substituting the words “, the combating of”; and (iii) inserting after the word “terrorism” the words “and proliferation financing”. Passed in the House of Representatives this 10th day of June, 2019. Clerk of the House Passed in the Senate this 12th day of June, 2019. Clerk of the Senate 8 No. 12 Miscellaneous Provisions (Financial Institutions, 2019 Securities and Insurance) PRINTED BY THE GOVERNMENT PRINTER, CARONI REPUBLIC OF TRINIDAD AND TOBAGO—2019