Guarantee of Loans (University of the West Indies)
GUARANTEE OF LOANS (UNIVERSITY OF
THE WEST INDIES) ACT

CHAPTER 71:83

LAWS OF TRINIDAD AND TOBAGO

Current Authorised Pages
Pages Authorised

(inclusive) by L.R.O.
1–5 ..

L.R.O.

Act
24 of 1993

UNOFFICIAL VERSION


UPDATED TO DECEMBER 31ST 2014

MINISTRY OF LEGAL AFFAIRS www.legalaffairs.gov.tt

LAWS OF TRINIDAD AND TOBAGO

Guarantee of Loans
2 Chap. 71:83 (University of the West Indies)

Note on Subsidiary Legislation
This Chapter contains no subsidiary legislation.

UNOFFICIAL VERSION


UPDATED TO DECEMBER 31ST 2014

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Guarantee of Loans
(University of the West Indies) Chap. 71:83 3

L.R.O.

LAWS OF TRINIDAD AND TOBAGO

CHAPTER 71:83

GUARANTEE OF LOANS
(UNIVERSITY OF THE WEST INDIES) ACT

ARRANGEMENT OF SECTIONS

SECTION

1. Short title.

2. Interpretation.

3. Power to guarantee loans to the University.

4. Limit of guarantee.

5. Payment of money owed under guarantee.

6. University to repay Government sums paid under guarantee.

7. Minister may remit tax, etc.

UNOFFICIAL VERSION


UPDATED TO DECEMBER 31ST 2014

MINISTRY OF LEGAL AFFAIRS www.legalaffairs.gov.tt

LAWS OF TRINIDAD AND TOBAGO

Guarantee of Loans
4 Chap. 71:83 (University of the West Indies)

CHAPTER 71:83

GUARANTEE OF LOANS
(UNIVERSITY OF THE WEST INDIES) ACT

An Act to enable the Government of Trinidad and Tobago to
guarantee loans to the University of the West Indies for
use at the campuses of St. Augustine and Mount Hope.

[11TH NOVEMBER 1993]

1. This Act may be cited as the Guarantee of Loans
(University of the West Indies) Act.

2. In this Act—
“lending agency” means a lending Government, the European

Economic Commission or any international organisation;
“Minister”, unless otherwise stated, means the Minister to whom

responsibility for the University is assigned.

3. (1) The Government may in such manner and on such
terms and conditions as are agreed upon between it and the lending
agency—

(a) guarantee the discharge by the University of all
or part of its obligations under any agreement
which may be executed by the University with
the lending agency, in respect of any borrowing
authorised by the Royal Charter establishing the
University, or under any bond, promissory note
or other instrument issued pursuant to any such
agreement; and

(b) assume such other obligation as may be agreed
upon between the Government and the lending
agency, in relation to, or pursuant to any such
agreement, bond, promissory note or instrument.

(2) A guarantee or undertaking given under this section,
shall be given in writing in the name of Trinidad and Tobago and
any guarantee or undertaking or any endorsement on any bond,
promissory note or other instrument of guarantee or undertaking

24 of 1993.

Commencement.

Short title.

Interpretation.

Power to
guarantee loans
to the
University.

UNOFFICIAL VERSION


UPDATED TO DECEMBER 31ST 2014

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Guarantee of Loans
(University of the West Indies) Chap. 71:83 5

L.R.O.

LAWS OF TRINIDAD AND TOBAGO

given under this section may be signed on behalf of Trinidad and
Tobago by the Minister or by any person authorised in writing by
the Minister in that behalf.

4. (1) Subject to subsection (2), the guarantee to which this
Act refers, shall be in such sum or sums not exceeding in the
aggregate one hundred million Trinidad and Tobago dollars or the
equivalent thereof in any foreign currency.

(2) The Government may guarantee any further sum or
sums, specified in a Resolution passed by the Senate and the House
of Representatives for the purpose.

5. Where any sum becomes payable by the Government
pursuant to a guarantee or undertaking given in exercise of the
powers conferred by section 3, that sum shall be charged on the
Consolidated Fund or on any other Fund established by Act of
Parliament for a specific purpose, and the Minister to whom
responsibility for finance is assigned shall direct payment to
issue out of the Consolidated Fund or such other Fund, as the
case may be.

6. If any sum is paid out of the Consolidated Fund or other
Fund referred to in section 5, in respect of any liability incurred by
the Government under a guarantee or other undertaking given in
exercise of the powers conferred by section 3 in respect of any
borrowing by the University, the University shall repay such sum,
together with interest thereon, at such rate as the Minister to whom
responsibility for finance is assigned may prescribe to the
Consolidated Fund or other appropriate Fund, as the case may be,
in such manner and at such time as the Minister may direct.

7. The Minister to whom responsibility for finance is assigned
may by Order provide that any tax, duty or fee payable under the
Income Tax Act, the Stamp Duty Act or any other written law,
shall be waived where the waiver is in his opinion, necessary to
give full effect to any guarantee or undertaking under this Act.

Limit of
guarantee.

Payment of
money owed
under guarantee.

University to
repay
Government
sums paid under
guarantee.

Minister may
remit tax, etc.

Ch. 75:01.
Ch. 76:01.

UNOFFICIAL VERSION


UPDATED TO DECEMBER 31ST 2014

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