12th REPUBLICAN PARLIAMENT: 1st SESSION

Quick Access

House of Representatives

Motions

5th Session of the 10th Republican Parliament

Lack of Confidence in the Minister of Finance and the Economy

WHEREAS it is an established fact that the best indication of what could happen in the future is to observe what has happened in the past;

AND WHEREAS during his tenure as Chief Executive Officer and/or Managing Director of state-owned First Citizens Bank, Mr. Larry Howai came under serious allegations for insider trading;

AND WHEREAS there is Senior Counsel advice that a strong case could be made for his prosecution in a Court of Law;

AND WHEREAS the said Mr. Howai voluntarily left the bank to become the Minister of Finance of Trinidad and Tobago;

AND WHEREAS issues of insider trading arose within the bank under his stewardship as Minister;

AND WHEREAS the Government through the Ministry of Finance is committed to further disposal of state enterprise shares thereby opening the possibility of further insider trading:

BE IT RESOLVED that this Honourable House note with concern these serious allegations and express its lack of confidence in the Minister of Finance.

(By the Leader of the Opposition)

First Debated: 24-Apr-2015
Speakers in the:
House of Representatives
24-Apr-2015 House Debate | Hansard PDF icon (568.8 kb)
Hon. Dr. Keith Rowley, MP [Diego Martin West] [Leader of the Opposition]
Sen. the Hon. Larry Howai [Minister of Finance and the Economy]
Mr. Colm Imbert, MP [Diego Martin North/East] [Opposition Member]
Hon. Dr. Surujrattan Rambachan, MP [Tabaquite] [Minister of Works and Infrastructure]
Mr. Jack Warner, MP [Chaguanas West] [Opposition Member]
// ]]>