Regulatory Alerts2011-11-10
Added · Updated
Payment of Supervisory Fees and Charges Regulations, 2011
Effective November 21, 2011, regulated persons must attach proof of payment when submitting applications for approvals under Schedule I of the Regulations. Payments under one thousand dollars must be made via cash or certified cheque, while amounts exceeding that threshold may be paid by certified cheque, Automated Clearing House facility, or authorization of deductions from reserve accounts. All certified cheques must be payable to the Central Bank of Trinidad and Tobago and presented at the Banking Operations Department tellers. Insurance companies are required to urgently inform their agents and salesmen of these new payment arrangements.
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