Commonwealth Development Corporation (Privileges and Immunities)

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Commonwealth Development Corporation (Privileges and Immunities)
COMMONWEALTH DEVELOPMENT CORPORATION
(PRIVILEGES AND IMMUNITIES) ACT

CHAPTER 17:05

LAWS OF TRINIDAD AND TOBAGO

Current Authorised Pages
Pages Authorised

(inclusive) by L.R.O.
1–5 ..

L.R.O.

Act
16 of 1996

UNOFFICIAL VERSION


UPDATED TO DECEMBER 31ST 2014

MINISTRY OF LEGAL AFFAIRS www.legalaffairs.gov.tt

LAWS OF TRINIDAD AND TOBAGO

2 Chap. 17:05 (Privileges and Immunities)
Commonwealth Development Corporation

Note on Subsidiary Legislation

This Chapter contains no subsidiary legislation.

UNOFFICIAL VERSION


UPDATED TO DECEMBER 31ST 2014

MINISTRY OF LEGAL AFFAIRS www.legalaffairs.gov.tt

L.R.O.

LAWS OF TRINIDAD AND TOBAGO

(Privileges and Immunities) Chap. 17:05 3
Commonwealth Development Corporation

CHAPTER 17:05

COMMONWEALTH DEVELOPMENT CORPORATION
(PRIVILEGES AND IMMUNITIES) ACT

An Act to confer certain privileges and immunities on the
Commonwealth Development Corporation.

[8TH JULY 1996]

1. This Act may be cited as the Commonwealth Development
Corporation (Privileges and Immunities) Act.

2. In this Act “the Corporation” means the Commonwealth
Development Corporation established by Act of Parliament of the
United Kingdom for the purpose of assisting in the economic
development of certain countries including Trinidad and Tobago.

3. The Corporation shall be accorded all the privileges and
immunities set out in Part I of the Schedule.

4. The employees of the Corporation shall be accorded all
the privileges and immunities set out in Part II of the Schedule.

16 of 1996.

Commencement.

Short title.

Interpretation.

Privileges and
immunities of
the Corporation.
Schedule.
Part I.

Privileges and
immunities of
employees of
the Corporation.
Schedule.
Part II.

UNOFFICIAL VERSION


UPDATED TO DECEMBER 31ST 2014

MINISTRY OF LEGAL AFFAIRS www.legalaffairs.gov.tt

LAWS OF TRINIDAD AND TOBAGO

4 Chap. 17:05 (Privileges and Immunities)
Commonwealth Development Corporation

SCHEDULE
PART I

PRIVILEGES AND IMMUNITIES OF THE
CORPORATION, LEGAL PERSONALITY AND CAPACITY

1. The Corporation shall have legal personality and such legal capacity
as may be necessary for the exercise of its functions and the fulfilment of its
purposes and, in particular, it shall have the capacity—

(a) to contract;
(b) to acquire and dispose of real and personal property; and
(c) to be a party to legal proceedings.

EXEMPTION FROM TAXES
2. The Minister of Finance may grant exemption to the Corporation in

respect of its operations in Trinidad and Tobago, that assist the development of
the economy of Trinidad and Tobago, from all direct or indirect taxes, duties,
levies, deductions and other imposts of any kind imposed in Trinidad and Tobago.

3. Companies, firms or organisations in Trinidad and Tobago which make
payments of interest, dividends, fees or other monies to the Corporation shall
not be obliged to make any deduction on account of any tax, duty, levy or impost
from which the Corporation is exempted under clause 2.

4. The Corporation shall be exempted from—
(a) Customs duties or other duties on the importation of vehicles,

goods and technical equipment necessary for the operation of
any representation it may decide to maintain in Trinidad and
Tobago; and

(b) export duties and other fiscal charges with respect to the
re-exportation of such vehicles, goods and technical
equipment exempted under paragraph (a).

5. The Corporation is not required to be licensed under the Moneylenders
Act, (Ch. 84:04) or the Financial Institutions Act, (Ch. 79:09) and is not required
to be registered under the Companies Act, (Ch. 81:01).

6. The exemptions and privileges accorded to the Corporation in this Order
may be granted to any wholly-owned investment finance subsidiary of the
Corporation approved in writing for this purpose by the Minister to whom
responsibility for finance is assigned.

UNOFFICIAL VERSION


UPDATED TO DECEMBER 31ST 2014

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L.R.O.

LAWS OF TRINIDAD AND TOBAGO

(Privileges and Immunities) Chap. 17:05 5
Commonwealth Development Corporation

PART II

PRIVILEGES AND IMMUNITIES OF EMPLOYEES OF
THE CORPORATION, EXEMPTION FROM TAXES

7. The employees of the Corporation, whether staffing a representative
office or seconded to development projects but not being citizens of Trinidad
and Tobago, shall—

(a) not be subject to income tax or similar taxes in respect of
salaries and emoluments received from the Corporation; and

(b) be entitled within six months of arriving in Trinidad and Tobago
to import free of Customs or import duties, personal effects,
including one motor vehicle per person for personal or family
use, and household goods and to export the same free of export
duties and other fiscal charges at the end of their stay in
Trinidad and Tobago,

together with any other exemptions, concessions and privileges that are accorded
to employees of international institutions.

UNOFFICIAL VERSION


UPDATED TO DECEMBER 31ST 2014

MINISTRY OF LEGAL AFFAIRS www.legalaffairs.gov.tt
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