Regulatory Alerts2007-12-31 | 24082Added · Updated
Exchange Control Act Chap 79:50
The Exchange Control Act establishes the Central Bank of Trinidad and Tobago as the primary administrator of exchange control, with the Minister retaining the power to designate an officer in charge of the system. The legislation prohibits individuals and entities from buying, selling, borrowing, or lending gold and foreign currency except through authorized dealers or with the Bank's permission. It further restricts the import and export of legal tender notes and gold without specific authorization, while granting the Bank powers to delegate functions, grant exemptions, and enforce compliance through information requests and search warrants.
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