Trinidad and Tobago Special Economic Zones Act (Act No. 1 of 2022)

1. Short title.

2. Commencement. L

3. Interpretation. PART II IA SPECIAL ECONOMIC ZONES AUTHORITY

4. Establishment of the Authority.

5. Functions of the Authority. IC

6. Powers of the Authority. F PART III 7. F THE BOARD OF THE AUTHORITY Board of the Authority. 8. 9. O Responsibilities of the Board. Resignation, removal and absence of members. 10. 11. 12. N Disclosure of interests. Committees. Immunity of members. U

13. Meetings and quorum. PART IV STAFF OF THE AUTHORITY

14. Appointment and functions of Chief Executive Officer.

15. Resignation and removal of Chief Executive Officer.

16. Employment of staff.

17. Contracts for specific tasks.

18. Establishment of Pension plan.

19. Immunity of Chief Executive Officer and staff. L.R.O. UNOFFICIAL VERSION UPDATED TO MARCH 31ST 2022 LAWS OF TRINIDAD AND TOBAGO www.agla.gov.tt OFFICE OF THE ATTORNEY GENERAL AND MINISTRY OF LEGAL AFFAIRS www.laws.gov.tt 4 1 of 2022 Trinidad and Tobago Special Economic Zones ARRANGEMENT OF SECTIONS—Continued SECTION PART V FINANCIAL PROVISIONS

20. Definitions.

21. Funds and resources.

22. Power to borrow.

23. Power to invest. 24. 25. Financial year. Authority to keep proper accounts. L 26. 27. 28. Audit. Budget proposals. Annual Reports. IA

29. Exemption from taxes, etc. IC PART VI DESIGNATION OF SPECIAL ECONOMIC ZONES F

30. Designation of a Special Economic Zone.

31. Types of Special Economic Zones. F PART VII LICENSING PROVISIONS O 32. 33. Types of licences. Requirement for an Operator Licence. N 34. 35. Eligibility for an Operator Licence. Application for Operator Licence. U 36. 37. 38. Considerations for the grant of Operator Licence. Grant of Operator Licence. Notice of refusal of an Operator Licence.

39. Terms and conditions of Operator Licence.

40. Obligations of operators.

41. Duration of an Operator Licence.

42. Amendment or variation of Operator Licence.

43. Renewal of Operator Licence.

44. Enforcement action against an operator.

45. Notice of Non-Compliance and corrective action by operator.

46. Effect of suspension or revocation. UNOFFICIAL VERSION UPDATED TO MARCH 31ST 2022 LAWS OF TRINIDAD AND TOBAGO www.agla.gov.tt OFFICE OF THE ATTORNEY GENERAL AND MINISTRY OF LEGAL AFFAIRS www.laws.gov.tt Trinidad and Tobago Special Economic Zones 1 of 2022 5 SECTION

47. Surrender of licence.

48. Requirement for an SEZ Enterprise or Single Zone Enterprise Licence.

49. Application for an SEZ Enterprise or Single Zone Enterprise Licence.

50. Considerations for a grant of an SEZ Enterprise Licence or a Single Zone Enterprise Licence.

51. Grant of SEZ Enterprise or Single Zone Enterprise Licence.

52. Notice of refusal of SEZ Enterprise or a Single Zone Enterprise Licence.

53. Terms and conditions of SEZ Enterprise Licence or Single Zone Enterprise Licence.

54. Operation Plan. L

55. Reporting and compliance. IA

56. Duration of SEZ Enterprise Licence or Single Zone Enterprise Licence.

57. Amendment or variation of SEZ Enterprise or a Single Zone Enterprise Licence. IC

58. Renewal of SEZ Enterprise Licence or Single Zone Enterprise Licence.

59. Enforcement action against the holder of an SEZ Enterprise Licence or Single Zone Enterprise Licence. F

60. Notice of Non-Compliance and corrective action by SEZ Enterprise or Single Zone Enterprise. F

61. Effect of suspension or revocation of SEZ Enterprise Licence or Single Zone Enterprise Licence. O

62. Surrender of SEZ Enterprise Licence or Single Zone Enterprise Licence. PART VIII NSUPPORT MEASURES AND BENEFITS

63. Support measures. U

64. Zone benefits.

65. Customs Arrangements. PART IX INSPECTORS

66. Inspection programme.

67. Conduct of inspections.

68. Appointment of inspectors.

69. Production of certificate of appointment.

70. Powers of inspectors.

71. Warrants. L.R.O. UNOFFICIAL VERSION UPDATED TO MARCH 31ST 2022 LAWS OF TRINIDAD AND TOBAGO www.agla.gov.tt OFFICE OF THE ATTORNEY GENERAL AND MINISTRY OF LEGAL AFFAIRS www.laws.gov.tt 6 1 of 2022 Trinidad and Tobago Special Economic Zones ARRANGEMENT OF SECTIONS—Continued SECTION PART X OFFENCE AND PENALTIES

72. Misrepresentation in an application for a licence.

73. False information.

74. Confidentiality.

75. Offence of holding oneself out to be a licensee. 76. 77. Administrative fines. General penalties. L IA PART XI REGISTERS

78. Public register. 79. 80. Private register. IC Duty to correct and update registers.

81. Additions to, removals from and restoration of name to public register. 82. 83. F Certificate of grant of licence. Offence to alter register without lawful authority. F PART XII O 84. 85. MISCELLANEOUS Transfer of property. Appeals. N 86. 87. Amendments to schedules 1, 2, 3 and 4. Regulations. U 88. 89. 90. Repeal, transitional and savings provisions. Vesting of property. Consequential amendments. SCHEDULE 1. SCHEDULE 2. SCHEDULE 3. SCHEDULE 4.

SCHEDULE 5. UNOFFICIAL VERSION UPDATED TO MARCH 31ST 2022 LAWS OF TRINIDAD AND TOBAGO www.agla.gov.tt OFFICE OF THE ATTORNEY GENERAL AND MINISTRY OF LEGAL AFFAIRS www.laws.gov.tt Trinidad and Tobago Special Economic Zones 1 of 2022 7 ACT NO. 1 OF 2022 TRINIDAD AND TOBAGO SPECIAL ECONOMIC ZONES ACT An Act to provide for the designation, development, 1 of 2022. operation and management of Special Economic Zones, the establishment of the Special Economic Zones Authority, the repeal of the Free Zones Act, Chap. 81:07, the regulation of Special Economic Zones and matters related thereto L [ASSENTED TO 31ST JANUARY 2022] ENACTED by the Parliament of Trinidad and Tobago as follows: IA Enactment. PART I PRELIMINARY IC 1. This Act may be cited as the Trinidad and Tobago Short title. F Special Economic Zones Act. F *2. This Act comes into operation on such date as is fixed by Commencement. the President by Proclamation. [16/2022]. O 3. In this Act, unless the context requires otherwise— Interpretation. N “AML/CFT/PF” means Anti-Money Laundering/Countering the Financing of Terrorism/Financing the Proliferation of Weapons of Mass Destruction; U “Authority” means the Trinidad and Tobago Special Economic Zones Authority established under section 4; “benefits” means the incentives conferred on operators specified in Schedule 1 and those conferred on SEZ Enterprises and Schedule 1. Single Zone Enterprises specified in Schedule 2; Schedule 2. “Board” means the Board of the Authority, established under section 7; * Parts I, II, III, IV and V of this Act came into operation on the 31st January 2022 by LN 16/2022. L.R.O. UNOFFICIAL VERSION UPDATED TO MARCH 31ST 2022 LAWS OF TRINIDAD AND TOBAGO www.agla.gov.tt OFFICE OF THE ATTORNEY GENERAL AND MINISTRY OF LEGAL AFFAIRS www.laws.gov.tt 8 1 of 2022 Trinidad and Tobago Special Economic Zones “Chief Executive Officer” means the person appointed under section 14; “core income generating activities” means those permitted economic activities which are of central importance to, and which drive the business value of, an SEZ Enterprise or Single Zone Enterprise in terms of generating relevant income for the SEZ Enterprise or Single Zone Enterprise and includes such permitted economic activities as may be prescribed; “customs territory” means Trinidad and Tobago but does not include a Special Economic Zone; L “economic substance test” means the test referred to in section 49(4) and (5); IA “enterprise” means any corporation, company, partnership or firm approved by the Authority to carry out business in a Special Economic Zone; IC “IFRS” means International Financial Reporting Standards which includes the International Accounting Standards adopted by the Institute of Chartered Accountants of F Trinidad and Tobago; “information system” has the meaning assigned to it under Ch. 22:05. F section 2 of the Electronic Transactions Act; “intellectual property asset” means— O (a) patents; (b) technical know-how; N (c) an industrial design; (d) software that is subject to copyright; (e) an intangible asset that is non-obvious, useful or U novel; and (f) other similar intangible assets that are functionally equivalent to a patent, where such assets are legally protected; “licence” means a licence granted under this Act; “Minister” means the Minister to whom responsibility for industry is assigned; “operator” means a person who is the holder of a valid Operator Licence; “Operator Licence” means a licence granted under section 37; UNOFFICIAL VERSION UPDATED TO MARCH 31ST 2022 LAWS OF TRINIDAD AND TOBAGO www.agla.gov.tt OFFICE OF THE ATTORNEY GENERAL AND MINISTRY OF LEGAL AFFAIRS www.laws.gov.tt Trinidad and Tobago Special Economic Zones 1 of 2022 9 “permitted economic activity” means an activity which is permitted under Schedule 3; “premises” means any land, building or vessel and includes any vehicle or receptacle located on the land or in the building or vessel; “prescribed” means prescribed by regulations under section 87; “private body” means a body corporate or an unincorporated entity, other than a public body; “public body” means— L (a) a Ministry or a department or division of a Ministry; IA (b) the Tobago House of Assembly, or a division of the Tobago House of Assembly; (c) a Municipal Corporation established under the IC Municipal Corporations Act; (d) a Regional Health Authority established under the Regional Health Authorities Act; Ch. 25:04. Ch. 29:05. (e) a statutory body, responsibility for which is F assigned to a Minister of Government; (f) a State-controlled enterprise; F (g) a body corporate or unincorporated entity— (i) in relation to any function which it O exercises on behalf of the State; or (ii) which is established by virtue of the N President’s prerogative, by a Minister of Government in his capacity as such or by another public authority; or U (h) a body corporate or unincorporated entity in relation to any function, project, scheme or arrangement which involves the use by it, of public money; “public-private partnership arrangement” includes an arrangement between a public body and a private body under which— (a) the private body undertakes to perform a public function or provide a service on behalf of the public body; L.R.O. UNOFFICIAL VERSION UPDATED TO MARCH 31ST 2022 LAWS OF TRINIDAD AND TOBAGO www.agla.gov.tt OFFICE OF THE ATTORNEY GENERAL AND MINISTRY OF LEGAL AFFAIRS www.laws.gov.tt 10 1 of 2022 Trinidad and Tobago Special Economic Zones (b) the private body receives a benefit for performing the function or providing the service, either by way of— (i) compensation from a public fund; (ii) charges or fees collected by the private body from the users of a service provided to them; or (iii) a combination of such compensation and such charges or fees; and L (c) the private body is generally liable for the risks arising from the performance of the function or IA the provision of the service depending on the terms of the arrangement; “public register” means a register kept and maintained by the IC Authority under section 78; “private register” means a register kept and maintained by the Authority under section 79; F “Single Zone Enterprise” means any enterprise which is approved by the Authority under section 51(2) to engage in F any of the economic activities specified in Schedule 3 in a Zone which it also has the responsibility to manage and in Owhich it is the only business in operation; “Single Zone Enterprise Licence” means a licence granted under N section 51(2); “Special Economic Zone” or “Zone” means an area designated U under section 30; “Special Economic Zone Enterprise” or “SEZ Enterprise” means any enterprise approved by the Authority under section 51(1) to carry out business in a Special Economic Zone; “Special Economic Zone Enterprise Licence” or “SEZ Enterprise Licence” means a licence granted under section 51(1); “Supervisory Authority” has the meaning assigned to it under Ch. 72:01. section 18A of the Financial Intelligence Unit of Trinidad and Tobago Act. UNOFFICIAL VERSION UPDATED TO MARCH 31ST 2022 LAWS OF TRINIDAD AND TOBAGO www.agla.gov.tt OFFICE OF THE ATTORNEY GENERAL AND MINISTRY OF LEGAL AFFAIRS www.laws.gov.tt Trinidad and Tobago Special Economic Zones 1 of 2022 11 PART II SPECIAL ECONOMIC ZONES AUTHORITY 4. There is established as a body corporate to be known as Establishment of the “the Trinidad and Tobago Special Economic Zones Authority”. Authority. 5. (1) The functions of the Authority are to— Functions of the Authority. (a) review, assess and determine applications for Operator Licences, Special Economic Zone Enterprise Licences and Single Zone Enterprise Licences; L (b) regulate and supervise Zones; IA (c) advise the Minister on matters to support policy formulation relating to Zones; IC (d) recommend to the Minister the designation of Zones; (e) review and assess the performance of all Zones and report to the Minister on the performance of F all such Zones; (f) formulate guidelines and codes of practice to be F observed by operators, SEZ Enterprises or Single Zone Enterprises; O (g) receive and take prompt action to resolve complaints from operators and SEZ Enterprises; N (h) facilitate the mediation and settlement of disputes among operators and SEZ Enterprises; U (i) facilitate an enabling environment in areas designated as Special Economic Zones; (j) develop modern infrastructure required to attract foreign direct investment and stimulate domestic investment; (k) promote economic development in local communities; (l) advance further diversification of the economy; and (m) perform such other functions assigned to it under this Act or any other written law. L.R.O. UNOFFICIAL VERSION UPDATED TO MARCH 31ST 2022 LAWS OF TRINIDAD AND TOBAGO www.agla.gov.tt OFFICE OF THE ATTORNEY GENERAL AND MINISTRY OF LEGAL AFFAIRS www.laws.gov.tt 12 1 of 2022 Trinidad and Tobago Special Economic Zones (2) In the performance of its functions, the Authority shall be responsible for— (a) the finances, real property and other assets and other resources of the Authority; (b) the securing of contracts, the procurement of goods and services and other administrative activities; (c) human resources, including those related to recruitment, promotion, training and development, performance assessment, conditions of work, discipline, termination of L employment and superannuation benefits; IA (d) service standards and performance targets; (e) a code of conduct for employees; (f) the strategic plan, business plan and operating plan, budget and annual report of the Authority; and IC (g) such other things as the Authority considers necessary or expedient for the purposes of carrying out its functions. Powers of the Authority. F 6. The Authority shall have the following powers: (a) to issue guidelines and directions to operators, F SEZ Enterprises and Single Zone Enterprises in respect of the implementation of this Act; O (b) to cause to carry out such investigations in relation to applicants and licensees as it N considers appropriate in order to verify the accuracy of information in the application and request further information and documents U from the applicant; (c) to grant and set the terms and conditions of licences; (d) to amend, vary, suspend or revoke licences in accordance with the provisions of this Act; (e) to inspect licensees and Zones in order to monitor and ensure compliance with this Act and terms and conditions of licences; (f) to take enforcement measures in the event of any non-compliance with, or breach of, this Act or the terms and conditions of a licence; UNOFFICIAL VERSION UPDATED TO MARCH 31ST 2022 LAWS OF TRINIDAD AND TOBAGO www.agla.gov.tt OFFICE OF THE ATTORNEY GENERAL AND MINISTRY OF LEGAL AFFAIRS www.laws.gov.tt Trinidad and Tobago Special Economic Zones 1 of 2022 13 (g) to enter into any arrangement which, in the opinion of the Authority, is necessary to ensure the proper performance of its functions; (h) to establish and maintain registers required under this Act; and (i) such other powers as are necessary or expedient for the performance of its functions. PART III THE BOARD OF THE AUTHORITY L IA 7. (1) The Authority shall be managed by a Board. (2) Subject to subsection (4), the Board shall comprise Board of the Authority. eleven members as follows: IC (a) six members with qualifications, and at least seven years’ experience, in finance, information technology, economics, international relations, F business management, engineering logistics and supply chain management, or accounting F who shall be appointed by the Minister; O (b) two Attorneys-at-law of least seven years’ standing who shall be appointed by the Minister on the advice of the Judicial and Legal N Service Commission; (c) the Chief Executive Officer, ex officio; U (d) a senior officer of the Town and Country Planning Division, who shall be nominated by the Permanent Secretary of the Ministry responsible for planning and appointed by the Minister; and (e) a senior officer of the Inland Revenue Division, who shall be nominated by the Chairman of the Board of Inland Revenue and appointed by the Minister. L.R.O. UNOFFICIAL VERSION UPDATED TO MARCH 31ST 2022 LAWS OF TRINIDAD AND TOBAGO www.agla.gov.tt OFFICE OF THE ATTORNEY GENERAL AND MINISTRY OF LEGAL AFFAIRS www.laws.gov.tt 14 1 of 2022 Trinidad and Tobago Special Economic Zones (3) The Minister shall appoint any two members, other than the Chief Executive Officer, to be the Chairman and Deputy Chairman of the Board. (4) In the case of the first Board— (a) the Chairman, and three other members shall be appointed for a term of four years; (b) the Deputy Chairman and two other members shall be appointed for a term of three years; and (c) three members shall be appointed for a term of two years, L and their appointments shall not expire on the same date. IA (5) Appointments to the Board subsequent to the first appointment of the Board shall be for periods not exceeding four years and shall not exceed, whether consecutively or not, eight IC years in aggregate in respect of each member. (6) A member of the Board, other than the Chief Executive Officer, shall be appointed on such terms and F conditions as the Minister may determine. (7) The Minister shall cause notice of the membership F of the Board, or any change in membership, to be published in the Gazette. Responsibilities of the Board. O8. (1) The Board shall be responsible for carrying out the functions of the Authority specified in section 5 and shall— N (a) provide general or specific directions to the Chief Executive Officer with respect to the U functions of the Authority; and (b) have access to any information concerning an individual or other person, whether or not incorporated, which may be obtained by the Authority as a result of the functions of the Authority. (2) The Minister may give to the Board such general policy directives in writing with respect to the carrying out of its functions under this Act as he considers necessary or expedient and the Board shall give effect to such directives. UNOFFICIAL VERSION UPDATED TO MARCH 31ST 2022 LAWS OF TRINIDAD AND TOBAGO www.agla.gov.tt OFFICE OF THE ATTORNEY GENERAL AND MINISTRY OF LEGAL AFFAIRS www.laws.gov.tt Trinidad and Tobago Special Economic Zones 1 of 2022 15 9. (1) This section applies to all members of the Board, Resignation, removal and other than ex officio members. absence of members. (2) A member may at any time resign his office in writing addressed to the Minister. (3) The Minister may, by instrument in writing, remove a member from office, if the member— (a) is absent without leave of the Board from three or more consecutive meetings of the Board; L (b) fails to attend a minimum of three meetings without excuse in any year commencing from IA the date of his appointment to the Board; (c) engages in conduct which brings the Authority into disrepute; IC (d) becomes of unsound mind; (e) is incapable of performing the duties of his office; (f) is adjudged or declared bankrupt or insolvent; or F (g) is convicted of an offence involving dishonesty. (4) Where a member dies, resigns, is removed from or F otherwise vacates his office prior to the expiry of the term for which he has been appointed, the Minister shall appoint a person O to hold or act in the vacant office of the member as soon as reasonably practicable. N (5) An appointment of a member under subsection (4) may be for the unexpired period of the term of office of the person in whose place he is appointed or for a new term of office. U (6) During any period where a member is absent from duty or from Trinidad and Tobago or is, for any other reason, unable to perform the duties of his office, the Minister may appoint a person who is not a member, to act in the same capacity as that member. (7) An acting appointment of a person under subsection (4) or (6), shall not continue for more than six months. (8) The Minister may terminate an appointment under subsection (4) or (6) at any time. L.R.O. UNOFFICIAL VERSION UPDATED TO MARCH 31ST 2022 LAWS OF TRINIDAD AND TOBAGO www.agla.gov.tt OFFICE OF THE ATTORNEY GENERAL AND MINISTRY OF LEGAL AFFAIRS www.laws.gov.tt 16 1 of 2022 Trinidad and Tobago Special Economic Zones (9) Where a person is acting as a member and the office becomes vacant while the person is so acting, that person may continue so to act until the Minister otherwise directs, the vacancy is filled or a period of six months from the date on which the vacancy occurred expires, whichever occurs first. Disclosure of 10. (1) Every member of the Board shall, on appointment interests. and annually thereafter, submit to the Minister a declaration stating whether or not he has an actual or contingent pecuniary or other interest in any— L (a) operator, SEZ Enterprise, or Single Zone Enterprise regulated by the Authority or an IA applicant that has applied for a licence under this Act; or (b) any person carrying on business with the IC Authority in the exercise of its functions. (2) Where a member whose actual or contingent pecuniary or other interest is likely to be affected in any way by F a decision of the Board on any matter, he shall, as soon as possible after the relevant facts come to his knowledge, disclose F to the Board the nature of that interest. (3) A disclosure under subsection (2) shall be recorded O in the Minutes of a meeting of the Board and after the disclosure is made, the member shall— N (a) not take part in any deliberation or decision of the Board with respect to the relevant matter; and U (b) be disregarded for the purpose of constituting a quorum of the Board. (4) Subject to subsection (5), a member who knowingly fails to comply with this section commits an offence and is liable— (a) on summary conviction to a fine of five hundred thousand dollars and to imprisonment for five years; or (b) on conviction on indictment to a fine of one million dollars and to imprisonment for ten years. UNOFFICIAL VERSION UPDATED TO MARCH 31ST 2022 LAWS OF TRINIDAD AND TOBAGO www.agla.gov.tt OFFICE OF THE ATTORNEY GENERAL AND MINISTRY OF LEGAL AFFAIRS www.laws.gov.tt Trinidad and Tobago Special Economic Zones 1 of 2022 17 (5) A member does not commit an offence under subsection (4) if he proves to the satisfaction of the Court that he did not know— (a) the matter in which he had an interest was the subject of consideration at the meeting; or (b) he had an interest in the matter under consideration at the meeting. (6) No prosecution of an offence under this section shall be instituted without the consent of the Director of Public Prosecutions. L IA 11. (1) The Board may appoint such committees as it Committees. considers necessary. (2) A committee appointed under subsection (1) may— IC (a) inquire into and advise the Board on any matter within the scope of the functions of the Board; (b) exercise such of the powers of the Board as the F Board delegates to it in writing; or (c) perform such other duties as the Board may F assign to it. (3) Membership of a committee may include or consist O of persons who are not members of the Board, except that the chairperson of a committee shall be a member of the Board. N (4) The Board shall appoint the chairperson of a committee. (5) A committee shall be subject to the control of the Board U and may be discharged or reconstituted at any time by the Board. (6) A committee may regulate its own procedure, subject to any directions that may be given by the Board. 12. (1) A member shall not be held personally liable for Immunity of members. anything done or omitted in the discharge or purported discharge of the functions of the Authority, unless it is shown that the act or omission was a result of gross negligence or done in bad faith. (2) Any sums of money, damages or cost recovered against the Authority for anything done or omitted or permitted L.R.O. UNOFFICIAL VERSION UPDATED TO MARCH 31ST 2022 LAWS OF TRINIDAD AND TOBAGO www.agla.gov.tt OFFICE OF THE ATTORNEY GENERAL AND MINISTRY OF LEGAL AFFAIRS www.laws.gov.tt 18 1 of 2022 Trinidad and Tobago Special Economic Zones to be done in good faith in the course of the operations of the Authority shall be paid out of such amounts as may be appropriated by Parliament. Meetings and 13. (1) The Board shall meet at least once every month at quorum. such place and time, and in such manner, as may be designated by the Chairman. (2) At every meeting of the Board, the Chairman shall preside except that in the absence of— L (a) the Chairman, the Deputy Chairman shall preside; and IA (b) the Chairman and the Deputy Chairman, the members present shall elect from among themselves a person to preside. IC (3) The quorum of the Board shall be seven members. (4) Subject to subsection (5), decisions of the Board shall be by a majority of votes of members present and voting. F (5) The Chief Executive Officer shall not vote on any F matter before the Board. (6) No act or proceeding of the Board shall be invalid O by reason only of the existence of a vacancy among its members or of any defect in the appointment of a member. N (7) The Board shall establish its own rules to govern its procedures. U PART IV STAFF OF THE AUTHORITY Appointment 14. (1) The Board shall appoint a Chief Executive Officer and functions of Chief for a term not exceeding five years on such terms and conditions Executive Officer. as determined by the Board. (2) The Chief Executive Officer shall manage the day- to-day operations and activities of the Authority subject to the directions of the Board. UNOFFICIAL VERSION UPDATED TO MARCH 31ST 2022 LAWS OF TRINIDAD AND TOBAGO www.agla.gov.tt OFFICE OF THE ATTORNEY GENERAL AND MINISTRY OF LEGAL AFFAIRS www.laws.gov.tt Trinidad and Tobago Special Economic Zones 1 of 2022 19 15. (1) The Chief Executive Officer may at any time resign Resignation removal of and his office by letter addressed to the Board. Chief Executive Officer. (2) The Board may, by instrument in writing, remove the Chief Executive Officer from office if he— (a) is absent without leave of the Board from three or more consecutive meetings of the Board; (b) misbehaves in office or brings his office into disrepute; (c) becomes of unsound mind; L (d) is incapable of performing the duties of his office; IA (e) is adjudged or declared bankrupt or insolvent; (f) is convicted of an offence involving dishonesty; or (g) is convicted of an offence under this Act or an IC offence punishable by imprisonment for one year or more. 16. (1) The Board may employ such persons as it considers Employment staff. of F necessary for the due and efficient performance of its functions under this Act. F (2) The terms and conditions of employment of persons employed by the Authority under subsection (1) shall be O determined by the Authority. N 17. The Board may enter into contracts for services with Contracts for persons for the performance of such tasks that the Board considers necessary for the due performance of its functions and specific tasks. U exercise of its powers under this Act, on such terms and conditions as are agreed between the Authority and the person. 18. (1) Subject to subsection (3), the Authority shall, within Establishment of Pension two years of the coming into force of this Act, establish a pension plan. plan or where the establishment of a plan is not feasible, the Authority shall make arrangements for membership in an existing pension plan. (2) Subject to the rules of the pension plan established in accordance with subsection (1), all permanent employees of L.R.O. UNOFFICIAL VERSION UPDATED TO MARCH 31ST 2022 LAWS OF TRINIDAD AND TOBAGO www.agla.gov.tt OFFICE OF THE ATTORNEY GENERAL AND MINISTRY OF LEGAL AFFAIRS www.laws.gov.tt 20 1 of 2022 Trinidad and Tobago Special Economic Zones the Authority shall be eligible to become members of the pension plan established in accordance with subsection (1). (3) The Minister may, by Order subject to negative resolution of Parliament, extend the period under subsection (1) for the establishment of the pension plan. Immunity of 19. (1) The Chief Executive Officer or an employee, or any Chief Executive Officer and person in the service of the Authority, shall not be held staff. personally liable for anything done or omitted in the discharge or L purported discharge of the functions of the Authority, unless it is shown that the act or omission was a result of gross negligence or done in bad faith. IA (2) Any sums of money, damages or cost recovered against the Authority for anything done or omitted or permitted IC to be done in good faith in the course of the operations of the Authority shall be paid out of such amounts as may be appropriated by Parliament. F PART V F FINANCIAL PROVISIONS Definitions. O 20. For the purposes of this Part— “IFRS” means the International Financial Reporting Standards N as adopted from time to time by the International Accounting Standards Board; U “Minister” means the Minister to whom responsibility for finance is assigned; and “securities” has the meaning assigned to it under the Ch. 83:02. Securities Act. Funds and 21. (1) The funds and resources of the Authority shall resources. comprise— (a) moneys appropriated by Parliament; (b) moneys derived from rentals, leases, concessions or other activities carried on in Zones; UNOFFICIAL VERSION UPDATED TO MARCH 31ST 2022 LAWS OF TRINIDAD AND TOBAGO www.agla.gov.tt OFFICE OF THE ATTORNEY GENERAL AND MINISTRY OF LEGAL AFFAIRS www.laws.gov.tt Trinidad and Tobago Special Economic Zones 1 of 2022 21 (c) sums derived from loans raised by the Authority in accordance with the approval of the Minister; (d) moneys earned by or arising from investments made by the Authority in connection with the operation of Zones; (e) fees, dues, charges or other moneys collected for the grant of licences to operators or SEZ Enterprises and Single Zone Enterprises; and (f) moneys as may lawfully be paid to the L Authority in respect of any matter incidental to its powers and duties under this Act. IA (2) The funds of the Authority shall be kept in such financial institutions as the Minister may approve. (3) The funds of the Authority shall, in any financial IC year, be applied in defraying the following expenditure: (a) the operating expenses of the Authority; (b) such capital expenditure as may be necessary; F (c) the fees and allowances of the members of the Board of the Authority; F (d) the salaries, fees, allowances, gratuities, pensions and other payments to the staff of the O Authority; and (e) any other expenditure authorised by the Board N in the discharge of the Authority’s functions. 22. (1) The Authority may, with the approval of the Power to U Minister, borrow sums required for meeting any of its obligations under this Act. borrow. (2) The Minister may guarantee in such manner and on such conditions as he thinks fit, the payment of the principal and interest in respect of any borrowing of the Authority under this section. (3) The Board may, with the approval of the Minister, raise money by the issue of securities, required by it for meeting any of its obligations and discharging of any of its functions. L.R.O. UNOFFICIAL VERSION UPDATED TO MARCH 31ST 2022 LAWS OF TRINIDAD AND TOBAGO www.agla.gov.tt OFFICE OF THE ATTORNEY GENERAL AND MINISTRY OF LEGAL AFFAIRS www.laws.gov.tt 22 1 of 2022 Trinidad and Tobago Special Economic Zones Power to 23. The Authority may invest moneys not immediately invest. required to be expended in meeting any obligation or discharging any function of the Authority in securities approved by the Minister. Financial year. 24. The financial year of the Authority shall be the period of twelve months beginning on the 1st of October in any year but the period from the date of commencement of this Act to the end of September in the next year following shall be deemed to be the first financial year. Authority to keep proper L 25. (1) The Authority shall keep proper books of accounts and records in accordance with IFRS of all moneys received and accounts. IA expended and shall record the matters in respect of which such sums were received and expended. (2) Within three months after the end of each financial IC year, the Board shall cause to be prepared, in respect of that year— (a) a report setting out the activities of the F Authority; and (b) financial statements prepared in accordance F with IFRS and any other statement as required by the Minister. O (3) In instances where the standards included in IFRS are inappropriate or inadequate, the Treasury shall provide the N appropriate instructions. 26. (1) The accounts of the Authority are public accounts of U Audit. Ch. 1:01. Trinidad and Tobago for the purposes of section 116 of the Constitution and the Exchequer and Audit Act applies as if an Ch. 69:01. audit referred to in this Part is one to which that Act applies. (2) The accounts of the Authority shall be audited annually by the Auditor General. (3) As soon as the accounts of the Authority have been audited, the Auditor General shall submit his report in accordance with section 116 of the Constitution and shall forward a copy of the said report to the Minister. UNOFFICIAL VERSION UPDATED TO MARCH 31ST 2022 LAWS OF TRINIDAD AND TOBAGO www.agla.gov.tt OFFICE OF THE ATTORNEY GENERAL AND MINISTRY OF LEGAL AFFAIRS www.laws.gov.tt Trinidad and Tobago Special Economic Zones 1 of 2022 23 (4) Nothing in this section precludes the Auditor General or an auditor engaged by the Board or the Minister from performing a management or comprehensive audit of the activities of the Authority. (5) The fees and expenses of the Auditor General with respect to audits shall be paid by the Authority. 27. In respect of each financial year, the Board shall prepare Budget proposals. and submit to the Minister estimates of the Authority’s— (a) expected income, if any, arising from any source; and L (b) expected expenditure, IA no later than three months before the commencement of the financial year. IC 28. (1) The Authority shall, not later than ninety days after Annual Reports. the end of a financial year, submit to the Minister a report on the F performance of its functions during that financial year. (2) The Minister shall, within three months of receiving a F report under subsection (1), cause the report to be laid in Parliament. O 29. The Authority, its assets, property, income and its Exemption operations and transactions authorised under any Act, shall be from taxes, etc. N exempt from all taxation of every kind and description, including customs duties, corporation tax, value added tax, motor vehicle U tax, property tax, stamp duty, business levy and green fund levy. PART VI DESIGNATION OF SPECIAL ECONOMIC ZONES 30. (1) The Minister may, on the recommendation by the Designation of a Special Authority designate, by Order, a geographical area as a Special Economic Zone. Economic Zone. (2) An Order made under subsection (1) shall specify the type of Special Economic Zone. L.R.O. UNOFFICIAL VERSION UPDATED TO MARCH 31ST 2022 LAWS OF TRINIDAD AND TOBAGO www.agla.gov.tt OFFICE OF THE ATTORNEY GENERAL AND MINISTRY OF LEGAL AFFAIRS www.laws.gov.tt 24 1 of 2022 Trinidad and Tobago Special Economic Zones (3) In considering whether to designate a geographical area as a Special Economic Zone, the following factors shall be taken into account: (a) whether the type of Special Economic Zone and proposed economic activities are permitted under Schedule 3; (b) the intended size, topography, geographical limits and location of the proposed Special Economic Zone; L (c) whether the area is one that is identified as having growth potential in the Government’s IA development plan; (d) the existence of required off-site infrastructure, including roads, telecommunication and ports; IC (e) the availability of land and unencumbered land titles; (f) the proximity to resources, population centers Fand infrastructure; (g) the infrastructure and other utility requirements, F including water, power, telecommunication, solid waste and waste sewage, O water management; (h) approvals of land uses and zoning requirements N to facilitate the Special Economic Zones; (i) environmental standards and requirements; and U (j) such other factors as the Authority considers relevant or as may be prescribed in regulations. (4) No property shall be included in the designation of a Special Economic Zone under this section without the consent of the owner of the property. (5) The Authority shall cause a copy of any Order made under this section to be delivered, as soon as possible after its publication in the Gazette, to the Registrar General, who shall maintain a register of such Orders. UNOFFICIAL VERSION UPDATED TO MARCH 31ST 2022 LAWS OF TRINIDAD AND TOBAGO www.agla.gov.tt OFFICE OF THE ATTORNEY GENERAL AND MINISTRY OF LEGAL AFFAIRS www.laws.gov.tt Trinidad and Tobago Special Economic Zones 1 of 2022 25 31. The various types of Special Economic Zones and Types of Special permitted economic activities which may be carried out in each Economic Zones. Zone are set out in Schedule 3. Schedule 3. PART VII LICENSING PROVISIONS 32. The Authority may, with the approval of the Minister, Types of licences. issue any of the following licences: (a) an Operator Licence; L (b) a Special Economic Zone Enterprise Licence; or IA (c) a Single Zone Enterprise Licence. Operator Licence IC 33. (1) A person shall not carry on the business of Requirement for an Operator managing a Special Economic Zone, unless he is the holder of a Licence. valid Operator Licence. F (2) A person who contravenes subsection (1) commits an offence and is liable on summary conviction to a fine of two hundred F and fifty thousand dollars and to imprisonment for two years. 34. Any of the following may apply for an Operator Eligibility for Licence: O (a) a public body; an Operator Licence. N (b) a private body; or (c) a public body and a private body which have entered U into a public-private partnership arrangement. 35. (1) An application for an Operator Licence shall be Application for Operator made to the Authority in the prescribed form and shall include— Licence. (a) the name, address and contact information of the applicant; (b) a description of the proposed business activity; and (c) a description of any premises at which the applicant proposes to carry out activities under the Operator Licence. L.R.O. UNOFFICIAL VERSION UPDATED TO MARCH 31ST 2022 LAWS OF TRINIDAD AND TOBAGO www.agla.gov.tt OFFICE OF THE ATTORNEY GENERAL AND MINISTRY OF LEGAL AFFAIRS www.laws.gov.tt 26 1 of 2022 Trinidad and Tobago Special Economic Zones (2) An application for an Operator Licence shall be accompanied by— (a) a completed AML/CFT/PF risk assessment questionnaire in such form as may be prescribed; (b) evidence of sufficient access to financial resources to meet the eligibility criteria Schedule 4. specified in Schedule 4 and for the management of the Special Economic Zone; (c) evidence of sufficient access to expertise for the L management of the Special Economic Zone; (d) an Operation Plan, in the prescribed form, IA which outlines how the applicant proposes to operate the Special Economic Zone and to comply with this Act and the terms and IC conditions of an Operator Licence; (e) in the case of a public-private partnership arrangement, a copy of the agreement between the public body and the private body; F (f) a declaration in the prescribed form that if the Operator Licence is granted, the applicant F would consent to the entry of inspectors on any premises specified in the Operator Licence O during working hours or such other times as the premises are open to the public or otherwise in N use by the applicant, for the purposes of the exercise of their powers under section 71; U (g) the prescribed fee; and (h) such other documents as may be prescribed. (3) The Authority may require any further information or material to be submitted by an applicant within a specified time and may require verification by affidavit of any information or material fact then or previously submitted. Considerations 36. (1) The Authority shall, in assessing an application for for the grant of Operator an Operator Licence, take into account the following: Licence. (a) the nature of the proposed business activity; UNOFFICIAL VERSION UPDATED TO MARCH 31ST 2022 LAWS OF TRINIDAD AND TOBAGO www.agla.gov.tt OFFICE OF THE ATTORNEY GENERAL AND MINISTRY OF LEGAL AFFAIRS www.laws.gov.tt Trinidad and Tobago Special Economic Zones 1 of 2022 27 (b) the eligibility criteria for operators as specified in Schedule 4; (c) the provision of facilities or amenities for medical, occupational safety and health, customs, administrative, recreational and other purposes; (d) the impact of the proposed business activity on off-site infrastructure, utilities and services; (e) the compliance of the applicant with the Environmental Management Act and any other Ch. 35:05. relevant environmental standards and requirements; and L IA (f) such other factors as the Authority considers relevant. (2) Subject to subsection (1), the Authority shall, in determining whether to grant an Operator Licence, consider— IC (a) the application and any documents or further information provided; (b) whether the applicant has complied with this Act or has previously failed to comply with this F Act or has been in breach of the terms and conditions of a licence; and F (c) such other matters as may be prescribed. O 37. (1) The Authority may, with approval of the Minister, Grant of grant an Operator Licence, if the Authority is satisfied that the Operator applicant— Licence. N(a) has met the requirements of this Act for the grant of an Operator Licence; and U (b) would, if granted an Operator Licence, be able to fulfil the obligations of an operator to comply with this Act and the terms and conditions of the Operator Licence. (2) Where a decision to grant an Operator Licence is made under subsection (1), the Authority shall, within twenty- one days of its decision, inform the applicant and the Supervisory Authority in writing of its decision. (3) The Authority shall cause notice of the grant of an Operator Licence to be published in the Gazette, in at least two L.R.O. UNOFFICIAL VERSION UPDATED TO MARCH 31ST 2022 LAWS OF TRINIDAD AND TOBAGO www.agla.gov.tt OFFICE OF THE ATTORNEY GENERAL AND MINISTRY OF LEGAL AFFAIRS www.laws.gov.tt 28 1 of 2022 Trinidad and Tobago Special Economic Zones newspapers in daily circulation in Trinidad and Tobago and on the Authority’s website. Notice of 38. (1) The Authority may, with the approval of the refusal of an Operator Minister, refuse to grant an Operator Licence. Licence. (2) An Operator Licence shall not be refused under subsection (1), unless the Authority first informs the applicant, in writing, of the proposal to refuse the Operator Licence, together with the reasons therefor, and gives the applicant at least fourteen days to submit written representations. L (3) Where an Operator Licence is refused under IA subsection (1), the Authority shall, within twenty-one days of the decision, inform the applicant, in writing, of the decision and the reasons therefor. IC (4) The refusal of an Operator Licence under subsection (1) shall not prevent the applicant from making a new application. Terms and 39. (1) An Operator Licence shall not be transferable conditions of Operator Licence. F without the prior approval of the Authority and the Minister. (2) The Authority may, with the approval of the Minister, F determine the terms and conditions of an Operator Licence. O (3) An operator shall comply with the terms and conditions of his Operator Licence. (4) An operator shall pay to the Authority such annual N licence fee as the Minister may, by Order, prescribe. U (5) It shall be a condition of an Operator Licence that the operator consents to the entry of inspectors on any premises specified in the Operator Licence, during normal working hours or such other times as the premises are open to the public or otherwise in use by the operator, for the purposes of the exercise of their powers under section 71. Obligations of 40. (1) An operator shall— operators. (a) manage the Zone specified in his Operator Licence in accordance with this Act and the terms and conditions of his Operator Licence; UNOFFICIAL VERSION UPDATED TO MARCH 31ST 2022 LAWS OF TRINIDAD AND TOBAGO www.agla.gov.tt OFFICE OF THE ATTORNEY GENERAL AND MINISTRY OF LEGAL AFFAIRS www.laws.gov.tt Trinidad and Tobago Special Economic Zones 1 of 2022 29 (b) make such improvements to the Zone and its facilities as may be necessary; (c) facilitate the provision of infrastructure and other services in order to achieve the strategic and operational goals for the Zone; (d) for the protection of revenue, adequately demarcate, within the Zone, any customs territory and make, in accordance with the instructions of the Comptroller of Customs and L Excise, suitable provision for the movement of conveyances, vessels and goods entering or IA leaving the Zone or any customs territory within the Zone; (e) provide adequate facilities and amenities in the IC Zone for occupational safety and health; (f) adopt guidelines for SEZ Enterprises operating within the Zone in order to promote their safe and efficient operation; F (g) maintain adequate and proper accounts and F other records in relation to its operations and submit such reports to the Authority in such Omanner as may be prescribed; (h) in coordination with the Authority, promote the Zone as an investment opportunity; and N (i) do such other things in accordance with this Act and the terms and conditions of its Operator U Licence as are necessary or expedient to promote the effective functioning of the Zone. (2) An operator shall, at least two months before the end of each financial year, or at a later date determined by the Authority, submit to the Authority an Operation Plan for the new financial year. (3) An operator shall submit to the Authority— (a) where necessary, information relevant to compliance with its Operation Plan; L.R.O. UNOFFICIAL VERSION UPDATED TO MARCH 31ST 2022 LAWS OF TRINIDAD AND TOBAGO www.agla.gov.tt OFFICE OF THE ATTORNEY GENERAL AND MINISTRY OF LEGAL AFFAIRS www.laws.gov.tt 30 1 of 2022 Trinidad and Tobago Special Economic Zones (b) statistical data on its operations; and (c) other information on its operations which the Authority may determine, at such intervals set by the Authority. (4) An operator shall submit to the Authority, on an annual basis or at such time as the Authority may determine— (a) the latest audited financial statements in accordance with IFRS accounting standards or L other best practice commercial standards within six months of the end of the financial year; and IA (b) evidence that the operator is meeting the eligibility requirements set out in Schedule 4. 41. Unless previously revoked or surrendered, an Operator Duration of an Operator Licence. IC Licence shall be valid for such period not exceeding fifty years as may be specified in the Operator Licence. Amendment or variation of Operator F 42. (1) The Authority may, with the approval of the Minister, amend or vary the terms and conditions of an Licence. F Operator Licence. (2) Without prejudice to the generality of subsection (1), O an operator may apply to the Authority for an amendment or variation to his Operator Licence. N (3) An application under subsection (2) shall be— (a) in the prescribed form and include a statement U of the amendment or variation sought; and (b) accompanied by the prescribed fee. (4) Notwithstanding subsection (3)(a), the Authority may request further information and documents from an operator for the purposes of considering an application under subsection (2). (5) After considering an application under subsection (2) and any further information and documents provided under subsection (4), the Authority may amend or vary an Operator Licence in accordance with subsection (1). UNOFFICIAL VERSION UPDATED TO MARCH 31ST 2022 LAWS OF TRINIDAD AND TOBAGO www.agla.gov.tt OFFICE OF THE ATTORNEY GENERAL AND MINISTRY OF LEGAL AFFAIRS www.laws.gov.tt Trinidad and Tobago Special Economic Zones 1 of 2022 31 43. (1) An operator who wishes to renew his Operator Renewal of Operator Licence shall apply to the Authority for the renewal of his Licence. Operator Licence. (2) An application under subsection (1) shall be— (a) made at least three months before the expiration of the Operator Licence or such longer period before the expiration of the Operator Licence as may be specified in the Operator Licence; (b) in the prescribed form; and (c) accompanied by the prescribed fee and such L documents as may be prescribed. IA (3) The Authority may, with the approval of the Minister, renew an Operator Licence if it is satisfied with the IC compliance of the operator with this Act and the terms and conditions of his Operator Licence and that the operator is registered with the Supervisory Authority. F (4) Where a decision to renew, or to refuse to renew, an Operator Licence is made under subsection (3), the Authority F shall, in writing, inform the operator of the decision. O (5) The renewal of an Operator Licence shall not be refused unless the Authority first informs the operator, in writing, N of the proposal to refuse to renew the Operator Licence and the reasons therefor and gives the operator at least twenty-one days U to submit written representations. (6) Where the renewal of an Operator Licence is refused, the Authority shall, in writing, give the operator the reasons for the refusal. 44. (1) Where the Authority determines that an operator is Enforcement action against not in compliance with this Act or the terms and conditions of his an operator. Operator Licence, the Authority may take any of the actions specified in subsection (2) as it thinks fit and commensurate with the seriousness of the non-compliance. L.R.O. UNOFFICIAL VERSION UPDATED TO MARCH 31ST 2022 LAWS OF TRINIDAD AND TOBAGO www.agla.gov.tt OFFICE OF THE ATTORNEY GENERAL AND MINISTRY OF LEGAL AFFAIRS www.laws.gov.tt 32 1 of 2022 Trinidad and Tobago Special Economic Zones (2) For the purposes of subsection (1), the Authority may— (a) issue a Notice of Non-Compliance to require the operator to take corrective action in accordance with section 45; (b) suspend the Operator Licence and issue a Notice of Non-Compliance to require the operator to take corrective action in accordance with section 45; or L (c) revoke the Operator Licence. (3) Where the Authority decides to suspend or revoke IA an Operator Licence, it shall, in writing, inform the operator of its decision and the reasons for its decision. (4) Where an Operator Licence is suspended or revoked IC under this Part, the operator shall immediately return the licence to the Authority. (5) The Authority shall cause notice of the suspension F or revocation of an Operator Licence to be published in the Gazette, in at least two newspapers in daily circulation in Trinidad and Tobago and on the Authority’s website. Notice of Non- F 45. (1) For the purposes of section 44, a Notice of Non- Compliance and corrective action by operator. O Compliance shall— (a) contain information detailing— N (i) the areas in which the operator is not in compliance with this Act or the terms and U conditions of his Operator Licence; (ii) the corrective action which is required to be done in order for the operator to be in compliance with this Act and the terms and conditions of his Operator Licence; and (iii) the period within which the corrective actions is required to be completed; and (b) state that the failure of the operator to complete the required corrective action within the specified period may result in the suspension or the revocation of his Operator Licence. UNOFFICIAL VERSION UPDATED TO MARCH 31ST 2022 LAWS OF TRINIDAD AND TOBAGO www.agla.gov.tt OFFICE OF THE ATTORNEY GENERAL AND MINISTRY OF LEGAL AFFAIRS www.laws.gov.tt Trinidad and Tobago Special Economic Zones 1 of 2022 33 (2) Where a Notice of Non-Compliance is issued to an operator, the operator shall take such steps as are necessary to complete the corrective action specified in the Notice of Non- Compliance within the specified period. (3) An operator to whom a Notice of Non-Compliance is issued may, at any time or within such period as may be specified in the Notice, request clarification from the Authority as to the corrective action required to be completed, and the Authority shall provide the clarification within fourteen days of the receipt of the request. (4) Where an operator to whom a Notice of Non- L IA Compliance is issued has reason to believe that he would be unable to complete the corrective action within the period specified in the Notice, he shall so inform the Authority in writing and the Authority may extend the period specified in the IC Notice in order for the corrective action to be completed. (5) Subject to subsection (4), where an operator to whom a Notice of Non-Compliance is issued fails to complete F any corrective action specified in the Notice within the period as specified in the Notice or as extended under subsection (4), the F Authority may suspend his Operator Licence until the corrective action is completed or revoke his Operator Licence. O 46. (1) Where an Operator Licence is suspended under this Effect of suspension or Part, the operator shall immediately cease all activities under the revocation. N Operator Licence for such time as the suspension remains in force. (2) Where an Operator Licence has been revoked under U this Part, the operator shall immediately cease all activities under the Operator Licence. (3) A person who fails to cease all activities as required under subsection (1) or (2), commits an offence and is liable— (a) on summary conviction to a fine of two hundred and fifty thousand dollars and to imprisonment for two years; or (b) on conviction on indictment to a fine of five hundred thousand dollars and to imprisonment for seven years. L.R.O. UNOFFICIAL VERSION UPDATED TO MARCH 31ST 2022 LAWS OF TRINIDAD AND TOBAGO www.agla.gov.tt OFFICE OF THE ATTORNEY GENERAL AND MINISTRY OF LEGAL AFFAIRS www.laws.gov.tt 34 1 of 2022 Trinidad and Tobago Special Economic Zones Surrender of 47. (1) An operator shall not surrender his Operator licence. Licence without the prior approval of the Authority. (2) An operator may, in writing, apply to the Authority for approval to surrender his Operator Licence in accordance with the terms and conditions of his Operator Licence. (3) An application under subsection (2) shall be accompanied by the prescribed fee. (4) The Authority shall not approve the surrender of an L Operator Licence unless it is satisfied that the operator has ceased all activities under the Operator Licence and complied IA with the terms and conditions of his Operator Licence. (5) Where the Authority approves the surrender of an Operator Licence, it shall, in writing, inform the operator of its approval. IC (6) The surrender of an Operator Licence comes into effect upon the issuance of the approval of the Authority. F (7) Where an operator receives the approval of the Authority to surrender his Operator Licence, the operator shall F immediately return the Operator Licence to the Authority. (8) The surrender of an Operator Licence does not O prevent the former holder of an Operator Licence from applying for another Operator Licence. N (9) The Authority shall cause notice of the surrender of an Operator Licence to be published in the Gazette, in at least U two newspapers in daily circulation in Trinidad and Tobago and on the Authority’s website. Special Economic Zone Enterprise Licence and Single Zone Enterprise Licence Requirement 48. (1) A person shall not carry on any of the activities set for an SEZ Enterprise or out in Schedule 3 as— Single Zone Enterprise (a) a Special Economic Zone Enterprise, unless he Licence. is the holder of a valid Special Economic Zone Enterprise Licence; or UNOFFICIAL VERSION UPDATED TO MARCH 31ST 2022 LAWS OF TRINIDAD AND TOBAGO www.agla.gov.tt OFFICE OF THE ATTORNEY GENERAL AND MINISTRY OF LEGAL AFFAIRS www.laws.gov.tt Trinidad and Tobago Special Economic Zones 1 of 2022 35 (b) a Single Zone Enterprise, unless he is the holder of a valid Single Zone Enterprise Licence. (2) A person who contravenes subsection (1) commits an offence and is liable on summary conviction to a fine of two hundred and fifty thousand dollars and to imprisonment for two years. 49. (1) An application for an SEZ Enterprise Licence or a Application for an SEZ Single Zone Enterprise Licence shall be made to the Authority in Enterprise or Single Zone the prescribed form and shall include— Enterprise (a) the name, address and contact information of Licence. L the applicant; and IA (b) a description of the proposed business activity; (2) An application for an SEZ Enterprise Licence or a Single Enterprise Licence shall be accompanied by— IC (a) a completed AML/CFT/PF risk assessment questionnaire in the prescribed form; (b) evidence of sufficient access to financial resources to meet the eligibility criteria F specified in Schedule 4. (c) a declaration in the prescribed form that if the

Schedule 4. F licence is granted, the applicant would consent to the entry of inspectors on any premises O specified in the licence during working hours or such other times as the premises are open to the public or otherwise in use by the applicant, for N the purposes of the exercise of their powers under section 70; U (d) the prescribed fee; and (e) such other documents as may be prescribed. (3) In addition to the requirements of subsections (1) and (2), an applicant for an SEZ Enterprise Licence or a Single Zone Enterprise Licence shall submit with his application an Operation Plan, in the prescribed form, which shall include— (a) a detailed description of the core income generating activities and any complementary permitted economic activities to be undertaken in the Special Economic Zone; L.R.O. UNOFFICIAL VERSION UPDATED TO MARCH 31ST 2022 LAWS OF TRINIDAD AND TOBAGO www.agla.gov.tt OFFICE OF THE ATTORNEY GENERAL AND MINISTRY OF LEGAL AFFAIRS www.laws.gov.tt 36 1 of 2022 Trinidad and Tobago Special Economic Zones (b) a detailed estimate of operating expenditure associated with all permitted economic activities to be undertaken in the Special Economic Zone; (c) a detailed description of the human resources to be employed in all permitted economic activities to be undertaken in the Special Economic Zone, including the number of qualified full-time personnel and other persons with appropriate qualifications; and L (d) a detailed description of the level and quality of investment to be made in relation to all IA permitted economic activities to be undertaken in the Special Economic Zone. (4) An applicant under subsection (3) shall satisfy the IC prescribed economic substance test in relation to all permitted economic activities to be undertaken in the Special Economic Zone. (5) An economic substance test shall be applied by the F Authority to determine whether the proposed operating expenditure, qualified full-time personnel and the level and F quality of investment of an applicant are adequate, necessary and relevant in relation to its proposed core income generating O activities and the size and nature of its proposed operations. (6) The Authority may require any further information N or material to be submitted by an applicant within a specified time and may require verification by affidavit of any information or material fact then or previously submitted. U Considerations for a grant of 50. (1) The Authority shall, in assessing an application for an SEZ an SEZ Enterprise Licence or a Single Zone Enterprise Licence, Enterprise take into account the following: Licence or a Single Zone Enterprise (a) the nature of the proposed project; Licence. (b) the proximity to resources; (c) population centres; (d) on-site infrastructure, utilities and services, including— (i) water; UNOFFICIAL VERSION UPDATED TO MARCH 31ST 2022 LAWS OF TRINIDAD AND TOBAGO www.agla.gov.tt OFFICE OF THE ATTORNEY GENERAL AND MINISTRY OF LEGAL AFFAIRS www.laws.gov.tt Trinidad and Tobago Special Economic Zones 1 of 2022 37 (ii) power; (iii) sewage; (iv) telecommunication; and (v) solid waste and waste water management; (e) off-site infrastructure, utilities and services; (f) environmental standards and requirements; and (g) any other relevant factors that the Authority deems relevant or as may be prescribed in regulations. L (2) Subject to subsection (1), the Authority shall, in IA determining whether to grant an SEZ Enterprise Licence or a Single Zone Enterprise Licence, consider— (a) the application and any documents or further information provided; IC (b) whether the applicant has satisfied the prescribed economic substance test; (c) whether the applicant has complied with this F Act or has previously failed to comply with this Act or has been in breach of the terms and F conditions of a licence; and O (d) such other matters as may be prescribed. (3) An SEZ Enterprise Licence or a Single Zone N Enterprise Licence shall not be granted unless the applicant satisfies the prescribed economic substance test. U51. (1) The Authority may, with the approval of the Grant of SEZ Enterprise or Minister, grant an SEZ Enterprise Licence, if the Authority is Single Zone Enterprise satisfied that the applicant— Licence. (a) has met the requirements of this Act for the grant of an SEZ Enterprise Licence; and (b) would, if granted an SEZ Enterprise Licence, be able to fulfil the obligations of an SEZ Enterprise to comply with this Act and the terms and conditions of an SEZ Enterprise Licence. L.R.O. UNOFFICIAL VERSION UPDATED TO MARCH 31ST 2022 LAWS OF TRINIDAD AND TOBAGO www.agla.gov.tt OFFICE OF THE ATTORNEY GENERAL AND MINISTRY OF LEGAL AFFAIRS www.laws.gov.tt 38 1 of 2022 Trinidad and Tobago Special Economic Zones (2) The Authority may, with the approval of the Minister, grant a Single Zone Enterprise Licence, if the Authority is satisfied that the applicant— (a) has met the requirements of this Act for the grant of a Single Zone Enterprise Licence; and (b) would, if granted a Single Zone Enterprise Licence, be able to fulfil the obligations of a Single Zone Enterprise, to comply with this Act and the terms and conditions of a Single Zone Enterprise Licence. L (3) Where a decision to grant an SEZ Enterprise IA Licence or a Single Zone Enterprise Licence is made under subsection (1), the Authority shall, within twenty-one days of its decision, inform the applicant and the Supervisory Authority, in IC writing, of its decision. (4) The Authority shall cause notice of the grant of SEZ Enterprise Licence or a Single Zone Enterprise Licence to be published in the Gazette, in at least two newspapers in daily F circulation in Trinidad and Tobago and on the Authority’s website. Notice of refusal of SEZ Enterprise or a F 52. (1) The Authority may, with the approval of the Minister, refuse to grant an SEZ Enterprise Licence or a Single Single Zone Enterprise Licence. O Zone Enterprise Licence. (2) An SEZ Enterprise Licence or a Single Zone N Enterprise Licence shall not be refused under subsection (1) unless the Authority first informs the applicant, in writing, of the proposal U to refuse the SEZ Enterprise Licence or the Single Zone Enterprise Licence, together with the reasons therefor, and gives the applicant at least fourteen days to submit written representations. (3) Where an SEZ Enterprise Licence or a Single Zone Enterprise Licence is refused under subsection (1), the Authority shall, within twenty-one days of the decision, inform the applicant, in writing, of the decision and the reasons therefor. (4) The refusal of an SEZ Enterprise Licence or a Single Zone Enterprise Licence under subsection (1) shall not prevent the applicant from making a new application. UNOFFICIAL VERSION UPDATED TO MARCH 31ST 2022 LAWS OF TRINIDAD AND TOBAGO www.agla.gov.tt OFFICE OF THE ATTORNEY GENERAL AND MINISTRY OF LEGAL AFFAIRS www.laws.gov.tt Trinidad and Tobago Special Economic Zones 1 of 2022 39 53. (1) An SEZ Enterprise Licence or a Single Zone Terms and conditions of Enterprise Licence shall not be transferable without the prior SEZ Enterprise Licence or approval of the Authority and the Minister. Single Zone Enterprise (2) The Authority may, with the approval of the Licence. Minister, determine the terms and conditions of an SEZ Enterprise Licence or a Single Zone Enterprise Licence. (3) An SEZ Enterprise or a Single Zone Enterprise shall comply with the terms and conditions of his SEZ Enterprise Licence or Single Zone Enterprise Licence, as the case may be. L (4) An SEZ Enterprise or a Single Zone Enterprise shall IA pay to the Authority such annual licence fee as the Minister may, by Order, prescribe. (5) It shall be a condition of an SEZ Enterprise Licence IC or a Single Zone Enterprise Licence that an SEZ Enterprise or a Single Zone Enterprise, as the case may be, consents to the entry of inspectors on any premises specified in the SEZ Enterprise Licence or Single Zone Enterprise Licence, during normal F working hours or such other times as the premises are open to the public or otherwise in use by the SEZ Enterprise or the Single F Zone Enterprise, for the purposes of the exercise of their powers under section 70. O 54. (1) An SEZ Enterprise or Single Zone Enterprise shall, Operation Plan. at least two months before the end of each financial year, or at a N later date determined by the Authority, submit to the Authority an Operation Plan, in the prescribed form, for the new financial year. U (2) An SEZ Enterprise or Single Zone Enterprise that proposes to continue to carry on any prescribed economic activity in a Special Economic Zone is required, in its annual Operation Plan, to demonstrate that it continues to satisfy the prescribed economic substance test. 55. (1) An SEZ Enterprise or Single Zone Enterprise shall Reporting and compliance. submit to the Authority— (a) where necessary, information relevant to compliance with its Operation Plan; L.R.O. UNOFFICIAL VERSION UPDATED TO MARCH 31ST 2022 LAWS OF TRINIDAD AND TOBAGO www.agla.gov.tt OFFICE OF THE ATTORNEY GENERAL AND MINISTRY OF LEGAL AFFAIRS www.laws.gov.tt 40 1 of 2022 Trinidad and Tobago Special Economic Zones (b) statistical data on its operations; and (c) other information on its operations which the Authority may determine, at such intervals set by the Authority. (2) An SEZ Enterprise or Single Zone Enterprise shall submit to the Authority, on an annual basis or at such time as the Authority may determine— (a) the latest audited financial statements in accordance with IFRS accounting standards or L other best practice commercial standards within IA six months of the end of the financial year; and (b) evidence that the SEZ Enterprise or Single Zone Enterprise is meeting the eligibility requirements set out in Schedule 4. Duration of SEZ Enterprise Licence or IC 56. Unless previously revoked or surrendered, an SEZ Enterprise Licence or Single Zone Enterprise Licence shall be Single Zone Enterprise Licence. F valid for such period not exceeding five years as may be specified in the SEZ Enterprise Licence or Single Zone Enterprise Licence. Amendment or variation of F 57. (1) The Authority may, with the approval of the Minister, amend or vary the terms and conditions of an SEZ SEZ Enterprise or a Single Zone Enterprise Licence. O Enterprise Licence or a Single Zone Enterprise Licence. (2) Without prejudice to the generality of subsection (1), N an SEZ Enterprise or a Single Zone Enterprise may apply to the Authority for an amendment or variation to his SEZ Enterprise U Licence or Single Zone Enterprise Licence, as the case may be. (3) An application under subsection (2) shall be— (a) in the prescribed form and include a statement of the amendment or variation sought; and (b) accompanied by the prescribed fee. (4) Notwithstanding subsection (3)(a), the Authority may request further information and documents from the SEZ Enterprise or a Single Zone Enterprise for the purposes of considering an application under subsection (2). UNOFFICIAL VERSION UPDATED TO MARCH 31ST 2022 LAWS OF TRINIDAD AND TOBAGO www.agla.gov.tt OFFICE OF THE ATTORNEY GENERAL AND MINISTRY OF LEGAL AFFAIRS www.laws.gov.tt Trinidad and Tobago Special Economic Zones 1 of 2022 41 (5) After considering an application under subsection (2) and any further information and documents provided under subsection (4), the Authority may amend or vary an SEZ Enterprise Licence or a Single Zone Enterprise Licence in accordance with subsection (1). 58. (1) An SEZ Enterprise or a Single Zone Enterprise who Renewal of SEZ Enterprise wishes to renew his SEZ Enterprise Licence or Single Zone Licence or Single Zone Enterprise Licence shall apply to the Authority for renewal of his Enterprise SEZ Enterprise Licence or a Single Zone Enterprise Licence. (2) An application under subsection (1) shall be— L Licence. IA (a) made at least three months before the expiration of the SEZ Enterprise Licence or the Single Zone Enterprise Licence or such longer period IC before the expiration of the SEZ Enterprise Licence or Single Zone Enterprise Licence as may be specified in the SEZ Enterprise Licence or Single Zone Enterprise Licence; F (b) in the prescribed form; and (c) accompanied by the prescribed fee and such F documents as may be prescribed. O (3) The Authority may, with the approval of the Minister, renew an SEZ Enterprise Licence or a Single Zone Enterprise Licence if it is satisfied with the compliance of the N SEZ Enterprise or a Single Zone Enterprise with this Act and the terms and conditions of his SEZ Enterprise Licence or a Single U Zone Enterprise Licence and that the SEZ Enterprise or a Single Zone Enterprise is registered with the Supervisory Authority. (4) Where the decision to renew, or to refuse to renew, an SEZ Enterprise Licence or a Single Zone Enterprise Licence is made under subsection (3), the Authority shall, in writing, inform the SEZ Enterprise or a Single Zone Enterprise of the decision. (5) The renewal of an SEZ Enterprise Licence or a Single Zone Enterprise Licence shall not be refused, unless the Authority first informs the SEZ Enterprise or a Single Zone Enterprise, in L.R.O. UNOFFICIAL VERSION UPDATED TO MARCH 31ST 2022 LAWS OF TRINIDAD AND TOBAGO www.agla.gov.tt OFFICE OF THE ATTORNEY GENERAL AND MINISTRY OF LEGAL AFFAIRS www.laws.gov.tt 42 1 of 2022 Trinidad and Tobago Special Economic Zones writing, of its proposal to refuse to renew the SEZ Enterprise Licence or a Single Zone Enterprise Licence and reasons therefor and gives the SEZ Enterprise or a Single Zone Enterprise at least twenty-one days to submit written representations. (6) Where the renewal of an SEZ Enterprise Licence or Single Zone Enterprise Licence is refused, the Authority shall, in writing, give the SEZ Enterprise or a Single Zone Enterprise the reasons for its refusal. Enforcement action against the holder of an L 59. (1) Where the Authority determines that an SEZ Enterprise or Single Zone Enterprise is not in compliance with SEZ Enterprise Licence or Single Zone Enterprise IA this Act or the terms and conditions of his SEZ Enterprise Licence or Single Zone Enterprise Licence, the Authority may Licence. take any of the actions specified in subsection (2) as it thinks fit IC and commensurate with the seriousness of the non-compliance. (2) For the purposes of subsection (1), the Authority may— F (a) issue a Notice of Non-Compliance to require the licensee to take corrective action in F accordance with section 60; (b) suspend the SEZ Enterprise Licence or Single O Zone Enterprise Licence and issue a Notice of Non-Compliance to require the SEZ Enterprise or Single Zone Enterprise to take corrective N action in accordance with section 60; or (c) revoke the SEZ Enterprise Licence or Single U Zone Enterprise Licence. (3) Where the Authority decides to suspend or revoke an SEZ Enterprise Licence, or a Single Zone Enterprise Licence, it shall, in writing, inform the SEZ Enterprise or Single Zone Enterprise of its decision and the reasons for its decision. (4) Where an SEZ Enterprise Licence or Single Zone Enterprise Licence is suspended or revoked, the SEZ Enterprise or Single Zone Enterprise shall immediately return the SEZ Enterprise Licence or Single Zone Enterprise Licence to the Authority. UNOFFICIAL VERSION UPDATED TO MARCH 31ST 2022 LAWS OF TRINIDAD AND TOBAGO www.agla.gov.tt OFFICE OF THE ATTORNEY GENERAL AND MINISTRY OF LEGAL AFFAIRS www.laws.gov.tt Trinidad and Tobago Special Economic Zones 1 of 2022 43 (5) The Authority shall cause notice of the suspension or revocation of an SEZ Enterprise Licence or a Single Zone Enterprise Licence to be published in the Gazette, in at least two newspapers in daily circulation in Trinidad and Tobago and on the Authority’s website. 60. (1) For the purposes of section 59, a Notice of Non- Notice of Non- Compliance Compliance shall— and corrective action by SEZ (a) contain information detailing— Enterprise or (i) the areas in which the SEZ Enterprise or Single L Zone Enterprise. a Single Zone Enterprise is not in IA compliance with this Act or the terms and conditions of his SEZ Enterprise Licence or Single Zone Enterprise Licence; (ii) the corrective action which is required to IC be done in order for the SEZ Enterprise or a Single Zone Enterprise to be in compliance with this Act and the terms F and conditions of his SEZ Enterprise Licence or Single Zone Enterprise Licence; and F (iii) the period within which the corrective O action is required to be completed; and (b) state that the failure of the SEZ Enterprise or a Single Zone Enterprise to complete the required N corrective action within the specified period may result in— U (i) the suspension or the revocation of his SEZ Enterprise Licence or Single Zone Enterprise Licence; or (ii) the suspension of benefits in Schedule 2 in accordance with section 64(3). (2) Where a Notice of Non-Compliance is issued to an SEZ Enterprise or Single Zone Enterprise, the SEZ Enterprise or Single Zone Enterprise shall take such steps as are necessary to complete the corrective action specified in the Notice of Non- Compliance within the specified period. L.R.O. UNOFFICIAL VERSION UPDATED TO MARCH 31ST 2022 LAWS OF TRINIDAD AND TOBAGO www.agla.gov.tt OFFICE OF THE ATTORNEY GENERAL AND MINISTRY OF LEGAL AFFAIRS www.laws.gov.tt 44 1 of 2022 Trinidad and Tobago Special Economic Zones (3) An SEZ Enterprise or a Single Zone Enterprise to whom a Notice of Non-Compliance is issued may, at any time or within such period as may be specified in the Notice, request clarification from the Authority as to the corrective action required to be completed, and the Authority shall provide the clarification within fourteen days of the receipt of the request. (4) Where an SEZ Enterprise or a Single Zone Enterprise to whom a Notice of Non-Compliance is issued has reason to believe that he would be unable to complete the L corrective action within the period specified in the Notice, he shall so inform the Authority in writing and the Authority may IA extend the period specified in the Notice in order for the corrective action to be completed. (5) Subject to subsection (4), where an SEZ Enterprise IC or a Single Zone Enterprise to whom a Notice of Non- Compliance is issued fails to complete any corrective action specified in the Notice within the period as specified in the Notice or as extended under subsection (4), the Authority may F suspend an SEZ Enterprise Licence or a Single Zone Enterprise Licence until the corrective action is completed or revoke the F SEZ Enterprise Licence or the Single Zone Enterprise Licence. Effect of suspension or revocation of O 61. (1) Where an SEZ Enterprise Licence or Single Zone Enterprise Licence is suspended, the SEZ Enterprise or Single N SEZ Enterprise Licence or Single Zone Enterprise Zone Enterprise shall immediately cease all activities under the SEZ Enterprise Licence or the Single Zone Enterprise Licence for such time as the suspension remains in force. U Licence. (2) Where an SEZ Enterprise Licence or a Single Zone Enterprise Licence has been revoked, the SEZ Enterprise or Single Zone Enterprise shall immediately cease all activities under the SEZ Enterprise Licence or the Single Zone Enterprise Licence. (3) A person who fails to cease all activities as required under subsection (1) or (2), commits an offence and is liable— (a) on summary conviction to a fine of two hundred and fifty thousand dollars and to imprisonment for two years; or UNOFFICIAL VERSION UPDATED TO MARCH 31ST 2022 LAWS OF TRINIDAD AND TOBAGO www.agla.gov.tt OFFICE OF THE ATTORNEY GENERAL AND MINISTRY OF LEGAL AFFAIRS www.laws.gov.tt Trinidad and Tobago Special Economic Zones 1 of 2022 45 (b) on conviction on indictment to a fine of five hundred thousand dollars and to imprisonment for seven years. 62. (1) An SEZ Enterprise or Single Zone Enterprise shall Surrender of SEZ Enterprise not surrender his SEZ Enterprise Licence or Single Zone Licence or Enterprise Licence without the prior approval of the Authority. Single Zone Enterprise Licence. (2) An SEZ Enterprise or a Single Zone Enterprise may, in writing, apply to the Authority for approval to surrender his L SEZ Enterprise Licence or a Single Zone Enterprise Licence in accordance with the terms and conditions of his SEZ Enterprise Licence or a Single Zone Enterprise Licence. IA (3) An application under subsection (2) shall be accompanied by the prescribed fee. IC (4) The Authority shall not approve the surrender of an SEZ Enterprise Licence or a Single Zone Enterprise Licence unless it is satisfied that the SEZ Enterprise or a Single Zone F Enterprise has ceased all activities under the SEZ Enterprise Licence or a Single Zone Enterprise Licence and complied with F the terms and conditions of his SEZ Enterprise Licence or a Single Zone Enterprise Licence. O (5) Where the Authority approves the surrender of an SEZ Enterprise Licence or a Single Zone Enterprise Licence, it N shall, in writing, inform the SEZ Enterprise or a Single Zone Enterprise of its approval. U (6) The surrender of an SEZ Enterprise Licence or a Single Zone Enterprise Licence comes into effect upon the issuance of the approval of the Authority. (7) Where an SEZ Enterprise or a Single Zone Enterprise receives the approval of the Authority to surrender his SEZ Enterprise Licence or a Single Zone Enterprise Licence, the SEZ Enterprise or a Single Zone Enterprise shall immediately return the SEZ Enterprise Licence or a Single Zone Enterprise Licence to the Authority. L.R.O. UNOFFICIAL VERSION UPDATED TO MARCH 31ST 2022 LAWS OF TRINIDAD AND TOBAGO www.agla.gov.tt OFFICE OF THE ATTORNEY GENERAL AND MINISTRY OF LEGAL AFFAIRS www.laws.gov.tt 46 1 of 2022 Trinidad and Tobago Special Economic Zones (8) The surrender of an SEZ Enterprise Licence or a Single Zone Enterprise Licence does not prevent the former holder of the SEZ Enterprise Licence or a Single Zone Enterprise Licence from applying for another SEZ Enterprise Licence or a Single Zone Enterprise Licence. (9) The Authority shall cause notice of the surrender of an SEZ Enterprise Licence or a Single Zone Enterprise Licence to be published in the Gazette, in at least two newspapers in daily circulation in Trinidad and Tobago and on the Authority’s website. L IA PART VIII SUPPORT MEASURES AND BENEFITS Support 63. The Minister may, in collaboration with any relevant measures. IC public body, design and implement business reform measures to support the development and efficient operation of different types of Special Economic Zones. Zone benefits. F 64. (1) The holder of an Operator Licence shall enjoy the F benefits specified in Schedule 1. (2) Subject to subsections (3) and (4), an SEZ O Enterprise or a Single Zone Enterprise shall enjoy the benefits in Schedule 2. N (3) The benefits to be enjoyed in relation to income derived from an intellectual property asset shall be in accordance U Ch. 75:01. with the provisions of the Income Tax Act. (4) Subject to section 59, where the Authority determines that an SEZ Enterprise or a Single Zone Enterprise is not satisfying the prescribed economic substance test, the Authority shall suspend the enjoyment by the SEZ Enterprise or Single Zone Enterprise of its corporation tax benefits and such other benefits in Schedule 2 as the Authority thinks fit. (5) The provisions set out in Schedules 1 and 2 shall be read in conjunction with and subject to the relevant taxation laws to which they, respectively, relate. UNOFFICIAL VERSION UPDATED TO MARCH 31ST 2022 LAWS OF TRINIDAD AND TOBAGO www.agla.gov.tt OFFICE OF THE ATTORNEY GENERAL AND MINISTRY OF LEGAL AFFAIRS www.laws.gov.tt Trinidad and Tobago Special Economic Zones 1 of 2022 47 65. (1) Subject to the provisions of this Act, the Customs Customs Arrangements. Act and the Excise (General Provisions) Act shall apply in a Ch. 78:01. Zone to the extent required for the Comptroller of Customs and Ch. 78:50. Excise to carry out his obligations under this Act. (2) In order to facilitate the efficient operation of Zones, the Comptroller of Customs and Excise shall make arrangements, where applicable, for— (a) the availability of customs services in Zones on a continuous basis to meet the needs of the operators, SEZ Enterprises and Single Zone Enterprises; L (b) the facilitation of imports of capital goods and IA equipment destined to remain in a Zone; (c) the expedited release of goods bound for a Zone, provided that all regulatory requirements, including security requirements, have been met; and IC (d) efficient procedures and practices to be applied for goods imported from the customs territory into a Zone and exported from a Zone in to the customs territory. F (3) Goods entering the customs territory from a Zone F shall thereupon be deemed to be imported into the customs territory and the provisions of the Customs Act and Excise (General Provisions) Act shall apply thereto accordingly. O PART IX N INSPECTORS 66. (1) The Authority shall establish an inspection Inspection U programme to monitor compliance with the requirements of this Act and the terms and conditions of licences. programme. (2) The Authority shall establish the qualifications for inspectors and a training programme to ensure a high level of competence for inspectors. 67. The Authority shall conduct inspections with or without Conduct of inspections. notice and carry out any other examination as may be necessary to verify compliance with the provisions of this Act and any applicable terms and conditions of a licence. L.R.O. UNOFFICIAL VERSION UPDATED TO MARCH 31ST 2022 LAWS OF TRINIDAD AND TOBAGO www.agla.gov.tt OFFICE OF THE ATTORNEY GENERAL AND MINISTRY OF LEGAL AFFAIRS www.laws.gov.tt 48 1 of 2022 Trinidad and Tobago Special Economic Zones Appointment of 68. (1) The Authority shall appoint an inspector or an inspectors. inspection team to inspect any premises where any activity regulated under this Act is conducted and to submit a report to it upon the completion of an inspection. (2) An inspection team under subsection (1) may comprise such number of persons as the Authority deems necessary having regard to the expertise and training required for the inspection. L (3) An inspector who is conducting an inspection may be accompanied by a police officer above the rank of sergeant. IA (4) Inspectors appointed under subsection (1) shall take direction and instructions from the Authority in respect of their functions and duties. IC (5) An inspector or inspection team under this section shall provide to the Authority within twenty-one days of his or its appointment or such other time as the Authority may determine, F an inspection report of its inspections. F (6) Where a person has been appointed under this section, he shall be issued a certificate of his appointment in the Production of O form approved by the Authority. 69. An inspector appointed under section 68 shall, on certificate of appointment. N seeking admission to any premises for the purposes of this Act, if required, produce the certificate of his appointment issued U under section 68(6) to the owner, occupier or other person for the time being in charge of the premises. Powers of 70. (1) An inspector appointed under this Act shall, for the inspectors. purposes of the enforcement of this Act, have the power to do all or any of the following: (a) to enter any premises specified in a licence with or without a warrant during working hours or such other times as the premises are open to the public or otherwise in use by the licensee; UNOFFICIAL VERSION UPDATED TO MARCH 31ST 2022 LAWS OF TRINIDAD AND TOBAGO www.agla.gov.tt OFFICE OF THE ATTORNEY GENERAL AND MINISTRY OF LEGAL AFFAIRS www.laws.gov.tt Trinidad and Tobago Special Economic Zones 1 of 2022 49 (b) to question any person who has duties which in the view of the inspector may be pertinent to the inspection being carried out; (c) to verify compliance with this Act and the terms and conditions of any licence; (d) to take photographs; (e) to make copies of any record or other document; (f) to seize anything which may be of evidential value for the prosecution of an offence under this Act or any other written law; and L (g) to direct the temporary suspension of any IA activity which he reasonably believes to be in contravention of this Act or in breach of the terms and conditions of a licence. IC (2) Where an inspector takes action under subsection (1)(g), he may— (a) order the licensee to prohibit employees and other persons from engaging in the activity; F (b) order that any material be safely and securely stored; and F (c) require that corrective action be taken— (i) in accordance with section 45, against the O holder of an Operator Licence; (ii) in accordance with section 60, against the N holder of an SEZ Enterprise Licence or Single Zone Enterprise Licence. U (3) Where an inspector takes action under subsection (2), the decision of the inspector remains in force unless and until— (a) it is withdrawn by the inspector; (b) reversed or modified by the Authority; or (c) altered through an appeal under section 85 or judicial review. (4) Where an inspector takes any action under subsections (1)(g) and (2), he shall, within twenty-four hours of taking such action, make a report to the Authority of his findings and any actions taken by him. L.R.O. UNOFFICIAL VERSION UPDATED TO MARCH 31ST 2022 LAWS OF TRINIDAD AND TOBAGO www.agla.gov.tt OFFICE OF THE ATTORNEY GENERAL AND MINISTRY OF LEGAL AFFAIRS www.laws.gov.tt 50 1 of 2022 Trinidad and Tobago Special Economic Zones (5) A report under subsection (4) shall include— (a) relevant findings and identify the evidentiary basis for the findings; (b) explanations or any other information the inspector deems relevant. (6) A report submitted under this section shall be made available to the licensee affected who shall have the right to submit explanations or objections within seven days of the issuance of the report. L (7) A person who obstructs or hinders an inspector in the Warrants. IA carrying out of his duties under this section commits an offence. 71. (1) Where a Magistrate is satisfied by information or oath given by a police officer, that there are reasonable grounds IC for believing that an offence under this Act has been or is about to be committed he may issue a warrant authorising the police officer to— (a) enter at any time the place named in the warrant F with force if necessary, and inspect that place; (b) detain a person found in that place in respect of F whom there is reasonable suspicion regarding the commission of an offence under this Act; or O (c) seize anything which may be of evidential value for the prosecution of an offence under this Act N or any other written law. PART X U OFFENCE AND PENALTIES Misrepresentation 72. An applicant for a licence who knowingly provides false in an application for or misleading information to the Authority commits an offence a licence. and is liable— (a) on summary conviction to a fine of five hundred thousand dollars and to imprisonment for a term of three years; or (b) on conviction on indictment to a fine of one million dollars and to imprisonment for ten years. UNOFFICIAL VERSION UPDATED TO MARCH 31ST 2022 LAWS OF TRINIDAD AND TOBAGO www.agla.gov.tt OFFICE OF THE ATTORNEY GENERAL AND MINISTRY OF LEGAL AFFAIRS www.laws.gov.tt Trinidad and Tobago Special Economic Zones 1 of 2022 51 73. Where a person furnishes information required of him False information. under this Act, which he knows to be false in any material particular, commits an offence and shall be liable— (a) on summary conviction to a fine of five hundred thousand dollars and to imprisonment for a term of three years; or (b) on conviction on indictment to a fine of one million dollars and to imprisonment for ten years. L 74. (1) The Authority shall not disclose any trade secrets, Confidentiality. documents, information or other matters disclosed to it under the administration of this Act except— IA (a) for the purposes of law enforcement for Court proceedings; IC (b) pursuant to an order of the Court; (c) to the Permanent Secretary in the Ministry with responsibility for trade; or F (d) where required under any other written law. (2) Members of the Board, employees of the Authority F and every person concerned with the administration of this Act shall treat trade secrets, documents, information or other matters O related to the administration of this Act, as secret and confidential and shall make and subscribe to an oath of secrecy N to that effect before a Justice of the Peace. (3) Subject to subsections (1) and (2), a person has the U right to request that any proprietary or confidential documents, information or matter provided or submitted to the Authority be kept as secret and confidential by the Authority. (4) A Member, employee of the Authority or any person concerned with the administration of this Act who discloses documents, information or any other matter related to the administration of this Act in contravention of this section commits an offence and is liable on summary conviction to a fine of five hundred thousand dollars and imprisonment for a term of two years. L.R.O. UNOFFICIAL VERSION UPDATED TO MARCH 31ST 2022 LAWS OF TRINIDAD AND TOBAGO www.agla.gov.tt OFFICE OF THE ATTORNEY GENERAL AND MINISTRY OF LEGAL AFFAIRS www.laws.gov.tt 52 1 of 2022 Trinidad and Tobago Special Economic Zones Offence of 75. (1) A person shall not hold himself out as an operator, holding oneself out to be a an SEZ Enterprise or Single Zone Enterprise unless he holds a licensee. licence issued under this Act. (2) A person who contravenes subsection (1) commits an offence and is liable on— (a) summary conviction to a fine of one million dollars and to imprisonment for five years; or (b) on conviction on indictment to a fine of two million, five hundred thousand dollars and to imprisonment for ten years. L Administrative fines. IA 76. (1) Where the Authority has reasonable cause to believe that a person has committed a prescribed summary offence under this Act, the Authority may issue to that person a notice offering IC the person the opportunity to dispense with any liability to conviction in respect of that offence by payment of the prescribed administrative fine. F (2) Where a person is given a notice under this section, criminal proceedings shall not be taken against him for the F offence specified in the notice until the expiration of twenty-one days commencing from the day after which the notice was served. O (3) Where a person fails to pay the administrative fine referred to in subsection (1), or where he pays the administrative N fine but continues to commit the offence after the expiration of twenty-one days following the date of service of the notice referred to in subsection (1), that person is liable for the offence committed. U (4) Where a person paid an administrative fine under subsection (1), but continues to commit the offence and is convicted under subsection (3), he is liable for the offence from the date after which he made the payment. (5) Payment of an administrative fine under this section shall be made to the Authority and a certificate that payment of the penalty was made to the Authority by the specified date shall, if the certificate purports to be signed by an officer authorised by the Authority, be admissible as evidence of the facts stated therein. UNOFFICIAL VERSION UPDATED TO MARCH 31ST 2022 LAWS OF TRINIDAD AND TOBAGO www.agla.gov.tt OFFICE OF THE ATTORNEY GENERAL AND MINISTRY OF LEGAL AFFAIRS www.laws.gov.tt Trinidad and Tobago Special Economic Zones 1 of 2022 53 (6) All moneys received under this section shall be credited to the Consolidated Fund. (7) A notice under subsection (1) shall— (a) specify the offence alleged; (b) give such particulars of the offence as are necessary for giving reasonable information of the allegation; and (c) state— (i) that criminal proceedings shall not be laid L until the expiration of twenty-one days from the date of service of the notice IA where payment of the administrative fine is made and the commission of the offence is discontinued; IC (ii) the amount of the administrative fine and the fact that it is to be paid to the Authority; and (iii) that the Authority shall not accept any F payments in respect of a notice under subsection (1) after the expiration of the F twenty-one days. O (8) In any proceedings for an offence to which this section applies, no reference shall be made to the giving of any notice under this section or to the payment or non-payment of an N administrative fine thereunder unless in the course of the proceedings or in some document which is before the court in U connection with the proceedings, reference has been made by, or on behalf of the accused to the giving of such a notice, or, as the case may be, to such payment. 77. A person who contravenes, or fails to comply with, any of General penalties. the provisions of this Act or the Regulations commits an offence and except where the provision by, or under which the offence is created, provides a penalty to be imposed, is liable on summary conviction to a fine of one hundred thousand dollars and in the case of a continuing offence, to a further fine of one thousand dollars for each day that the offence continues after conviction. L.R.O. UNOFFICIAL VERSION UPDATED TO MARCH 31ST 2022 LAWS OF TRINIDAD AND TOBAGO www.agla.gov.tt OFFICE OF THE ATTORNEY GENERAL AND MINISTRY OF LEGAL AFFAIRS www.laws.gov.tt 54 1 of 2022 Trinidad and Tobago Special Economic Zones PART XI REGISTERS Public register. 78. (1) The Authority shall establish and maintain a separate public register for each type of licence and shall cause each licence which is granted to be registered in the appropriate register. (2) The Authority shall, with respect to each type of licence, cause to be entered in the public register— (a) the name, address and description of the L business activity of the Operator, SEZ Enterprise or Single Zone Enterprise to whom IA the licence is issued; (b) the date on which it was issued; (c) the Zone to which the licence relates; IC (d) the benefits granted to any Operator, SEZ Enterprise or Single Zone Enterprise under section 64; and (e) such other information as may be prescribed. F (3) The public register shall be kept in such form as the Authority thinks appropriate, including by electronic means. F (4) The Authority shall update the public register from O time to time and correct any errors in the register. (5) The Authority shall, upon payment of the prescribed N fee, allow any person to inspect the public register during normal business hours. U (6) The Authority shall, upon payment of the prescribed fee, provide a person with a certified copy of or an extract from the public register. (7) The Authority shall cause a public register under this Part to be accessible to the public on a website established by the Authority. Private register. 79. (1) The Authority shall establish and maintain a private register containing any information submitted in an AML/CFT/PF risk assessment questionnaire referred to in sections 35(2) and 49(2). UNOFFICIAL VERSION UPDATED TO MARCH 31ST 2022 LAWS OF TRINIDAD AND TOBAGO www.agla.gov.tt OFFICE OF THE ATTORNEY GENERAL AND MINISTRY OF LEGAL AFFAIRS www.laws.gov.tt Trinidad and Tobago Special Economic Zones 1 of 2022 55 (2) The Authority shall not disclose information provided in an AML/CFT/PF risk assessment questionnaire referred to in sections 35(2) and 49(2), except— (a) to the Supervisory Authority; (b) for the purposes of law enforcement or court proceedings; (c) pursuant to an order of the Court; or (d) where required under any written law. (3) The Authority may, on his own motion, or when L requested by the Supervisory Authority, provide a certified copy of or an extract from the registers to the Supervisory Authority. IA 80. (1) The Authority shall ensure that the information Duty to correct and update contained in the public register and private register is correct registers. and updated. IC (2) The Authority may, for the purposes of subsection (1), amend the public register or private register to correct and update the information contained therein. 81. (1) The Authority shall— F Additions to, F removals from (a) where a licence is granted, insert the name of and restoration of name to the licensee into the public register of licences; public register. O (b) where a licence is suspended, insert the name of the suspended licensee into the public register N of suspensions; and (c) where a licence is revoked, remove the name of the licensee from the public register of licences U and insert the name of the revoked licensee into the public register of revocations. (2) The Authority shall have the power to restore names to the register of licences from time to time, in the appropriate circumstances. 82. (1) Where a licence has been granted pursuant to Certificate grant of of sections 37 and 51, the Chief Executive Officer shall issue a licence. certificate of grant of licence to the licensee and such copies of it, if any, as are required for the purposes of subsection (3). L.R.O. UNOFFICIAL VERSION UPDATED TO MARCH 31ST 2022 LAWS OF TRINIDAD AND TOBAGO www.agla.gov.tt OFFICE OF THE ATTORNEY GENERAL AND MINISTRY OF LEGAL AFFAIRS www.laws.gov.tt 56 1 of 2022 Trinidad and Tobago Special Economic Zones (2) A certificate of grant of licence shall bear an identifying number and shall show the date from which the licence is effective. (3) A licensee shall cause his certificate of grant of licence, or a copy of it issued by the Authority, to be displayed in public view at the place from which the licensee carries on the business for which the licence was granted. (4) A person who contravenes subsection (3) commits an offence and is liable on summary conviction to a fine of six L thousand dollars and a further one hundred dollars in respect of each day during which the offence has continued. IA (5) A person who, not being licensed, displays a certificate of grant of licence, a copy of a certificate of grant of licence, or a document purporting to be a certificate of grant of IC licence or purporting to be a copy of a certificate of grant of licence, commits an offence and is liable on summary conviction to a fine of fifteen thousand dollars and imprisonment for one year. Offence to alter register without F 83. A person who alters a register without lawful authority lawful authority. F commits an offence and is liable on summary conviction to a fine of fifty thousand dollars and to imprisonment for a term of O one year. PART XII N MISCELLANEOUS U Transfer of property. 84. (1) The President may, by Order, transfer to the Authority any property belonging to the State which is necessary, or useful to the Authority in carrying out its functions under this Act and such property shall vest in the Authority by virtue of the Order. (2) An Order made pursuant to subsection (1) shall— (a) specify the amount of compensation, if any, payable to the State in relation to property so transferred and the manner in which such compensation shall be paid; and UNOFFICIAL VERSION UPDATED TO MARCH 31ST 2022 LAWS OF TRINIDAD AND TOBAGO www.agla.gov.tt OFFICE OF THE ATTORNEY GENERAL AND MINISTRY OF LEGAL AFFAIRS www.laws.gov.tt Trinidad and Tobago Special Economic Zones 1 of 2022 57 (b) contain such incidental, consequential or supplementary provisions as are necessary or expedient for the purposes of the Order. 85. A person who is aggrieved by a decision of the Authority Appeals. under this Act to refuse to grant or renew a licence, to suspend or revoke a licence, or to impose a civil fine, may, within thirty days of being informed of that decision, appeal to the High Court. L 86. The Minister may, by Order subject to the negative Amendments to resolution of Parliament, amend Schedules 1, 2, 3 and 4. schedules 1, 2, 3 and 4. IA 87. (1) The Authority may, with the approval of the Regulations. Minister, make Regulations generally for carrying this Act into effect and prescribing anything required to be prescribed under this Act. IC (2) Regulations may provide that any contravention thereof shall constitute an offence punishable on summary F conviction by a fine of two hundred and fifty thousand dollars and imprisonment for a term of five years. F (3) Regulations made under subsection (1) shall be O subject to negative resolution of Parliament. 88. (1) Subject to this section, the Free Zones Act is repealed. Repeal, N transitional and (2) Orders made under section 3 of the Free Zones Act provisions. granted prior to 31st December 2018 shall remain in force Ch. 81:07. savings U until— (a) 31st January 2022, or such other date as the Minister may, by Order, prescribe; or (b) replaced by corresponding Orders made pursuant to this Act. (3) An Enterprise granted approval under the provisions of section 15(2) of the Free Zones Act, prior to 31st December 2018, shall be entitled to all benefits under that Act until 31st January 2022, or such other date as the Minister may, by Order, prescribe. L.R.O. UNOFFICIAL VERSION UPDATED TO MARCH 31ST 2022 LAWS OF TRINIDAD AND TOBAGO www.agla.gov.tt OFFICE OF THE ATTORNEY GENERAL AND MINISTRY OF LEGAL AFFAIRS www.laws.gov.tt 58 1 of 2022 Trinidad and Tobago Special Economic Zones (4) During the period referred to in subsection (3), any approved Enterprise under the Free Zones Act entitled to receive benefits under the Free Zones Act may apply to the Authority for an Operator Licence, SEZ Enterprise Licence or a Single Zone Enterprise Licence under this Act. (5) An application by an approved Enterprise referred to in subsection (4) for an Operator Licence, SEZ Enterprise Licence or a Single Zone Enterprise Licence shall be made within six months of the coming into force of this Act and shall L be considered in accordance with sections 36 or 50, respectively. (6) Any approved enterprise under the Free Zones Act IA shall enjoy no new benefit or right conferred by this Act unless such benefit or right was conferred under the Free Zones Act. (7) Any action, suit or other legal proceeding to which IC the Trinidad and Tobago Free Zones Company Limited is a party that is pending in any court immediately before the coming into force of this Act, shall, on the coming into force of this Act, be F continued by, or against the Authority. Vesting of property. F 89. All assets and liabilities of the Trinidad and Tobago Free Zones Company Limited that are, immediately prior to the O coming into force of this Act, existing in relation to the functions of the Trinidad and Tobago Free Zones Company Limited shall, upon the coming into force of this Act and unless specifically N designated by the Minister, be vested in the Authority. U Consequential amendments. 90. The Act referred to in the First Column of Schedule 5 is amended to the extent stated in the Second Column of that Schedule. UNOFFICIAL VERSION UPDATED TO MARCH 31ST 2022 LAWS OF TRINIDAD AND TOBAGO www.agla.gov.tt OFFICE OF THE ATTORNEY GENERAL AND MINISTRY OF LEGAL AFFAIRS www.laws.gov.tt Trinidad and Tobago Special Economic Zones 1 of 2022 59

SCHEDULE 1 [Sections 3 and 64(1)]. BENEFITS FOR OPERATORS Benefit Related Legislation 1) Exemption from property In accordance with Section 16(1) of tax obligation the Property Tax Act, Chap. 76:04 2) Exemption from Import In accordance with the provisions Duties for all approved capital of the Customs Act, Chap. 78:01 goods, spare parts, raw materials, building materials and other articles for development and management L of Zones 3) Stamp duty exemption on IA In accordance with the provisions instruments for the purchase, lease of the Stamp Duty Act, Chap. 76:01 or other acquisition of land for use by an Operator IC F F O N U L.R.O. UNOFFICIAL VERSION UPDATED TO MARCH 31ST 2022 LAWS OF TRINIDAD AND TOBAGO www.agla.gov.tt OFFICE OF THE ATTORNEY GENERAL AND MINISTRY OF LEGAL AFFAIRS www.laws.gov.tt 60 1 of 2022 Trinidad and Tobago Special Economic Zones [Sections 3 and SCHEDULE 2 64(2)]. BENEFITS FOR SEZ ENTERPRISES/SINGLE ZONE ENTERPRISES OPERATING IN THE FOLLOWING ZONES Type of Zone Benefit Related Legislation 1) Free Port Allowances/Credits: In accordance with the • Reinvestment relief provisions of the Income Tax • Enhanced relief Act, Chap. 75:01 VAT: In accordance with the • Goods supplied to Zone shall be zero rated L provisions of the Value Added Tax Act, Chap. 75:06 IA • Services provided by non-residents in Zone shall be zero rated Customs Duties In accordance with the IC • exemption on importation of all approved capital provisions of the Customs Act, Chap. 78:01 goods, spare parts, raw F materials, stock in trade and other articles for use in Zone F 2) Free Trade Zone Allowances/Credits: • Reinvestment relief In accordance with the provisions of the Income Tax O • Enhanced relief VAT: Act, Chap. 75:01 In accordance with the N • Goods supplied to Zone shall be zero rated • Services provided by provisions of the Value Added Tax Act, Chap. 75:06 U non-residents in Zone shall be zero rated Customs Duties In accordance with the • exemption on provisions of the Customs Act, importation of all Chap. 78:01 approved capital goods, spare parts, raw materials and other articles for use in Zone UNOFFICIAL VERSION UPDATED TO MARCH 31ST 2022 LAWS OF TRINIDAD AND TOBAGO www.agla.gov.tt OFFICE OF THE ATTORNEY GENERAL AND MINISTRY OF LEGAL AFFAIRS www.laws.gov.tt Trinidad and Tobago Special Economic Zones 1 of 2022 61 Type of Zone Benefit Related Legislation 3) Industrial Park Corporation Tax: In accordance with the Reduced Corporation provisions of the Corporation Tax Tax Act, Chap. 75:02 Allowances/Credits: In accordance with the • Reinvestment relief provisions of the Income Tax • Enhanced relief Act, Chap. 75:01 • Research and Development allowance VAT: • Goods supplied to L In accordance with the provisions of the Value Added Zone shall be zero rated • Services provided by IA Tax Act, Chap. 75:06 non-residents in Zone shall be zero rated Customs Duties • exemption on IC In accordance with the provisions of the Customs Act, importation of all Chap. 78:01 F approved capital goods, spare parts, raw materials and other F articles for use in Zone O Property Tax • exemption from property tax obligation In accordance with Section 16(1) of the Property Tax Act, Chap. 76:04 N 4) S p e c i a l i s e d Zone Corporation Tax: Reduced Corporation In accordance with the provisions of the Corporation U Tax Allowances/Credits: Tax Act, Chap. 75:02 In accordance with the • Reinvestment relief provisions of the Income Tax • Enhanced relief Act, Chap. 75:01 • Research and Development allowance L.R.O. UNOFFICIAL VERSION UPDATED TO MARCH 31ST 2022 LAWS OF TRINIDAD AND TOBAGO www.agla.gov.tt OFFICE OF THE ATTORNEY GENERAL AND MINISTRY OF LEGAL AFFAIRS www.laws.gov.tt 62 1 of 2022 Trinidad and Tobago Special Economic Zones

SCHEDULE 2—Continued Type of Zone Benefit Related Legislation 4) S p e c i a l i s e d VAT: In accordance with the Zone • Goods supplied to Zone provisions of the Value Added shall be zero rated Tax Act, Chap. 75:06 • Services provided by non-residents in Zone shall be zero rated Customs Duties In accordance with the • exemption on importation of all approved capital L provisions of the Customs Act, Chap. 78:01 IA goods, spare parts, raw materials and other articles for use in Zone Property Tax In accordance with Section IC • Exemption from property tax obligation 16(1) of the Property Tax Act, Chap. 76:04 5) Development Corporation Tax: In accordance with the Zone F Reduced Corporation Tax provisions of the Corporation Tax Act, Chap. 75:02 F Allowances/Credits: • Reinvestment relief • Enhanced relief In accordance with the provisions of the Income Tax Act, Chap. 75:01 O VAT: • Goods supplied to In accordance with the provisions of the Value Added N Zone zero rated • Services provided by non-residents in Zone Tax Act, Chap. 75:06 (Schedule 1) U zero rated Customs Duties In accordance with the • exemption on provisions of the Customs Act, importation of all Chap. 78:01 approved capital goods, spare parts, raw materials and other articles for use in Zone Property Tax In accordance with Section • exemption from 16(1) of the Property Tax Act, property tax obligation Chap. 76:04 UNOFFICIAL VERSION UPDATED TO MARCH 31ST 2022 LAWS OF TRINIDAD AND TOBAGO www.agla.gov.tt OFFICE OF THE ATTORNEY GENERAL AND MINISTRY OF LEGAL AFFAIRS www.laws.gov.tt Trinidad and Tobago Special Economic Zones 1 of 2022 63

SCHEDULE 3 [Sections 3, 30(3), 31 and TYPES OF SPECIAL ECONOMIC ZONES AND PERMITTED 48]. ECONOMIC ACTIVITIES For the purposes of the definitions of the types of Special Economic Zones and their permitted activities— (a) “development zone” – activities focused on the development of a specific geographic region with emphasis on factors such as employment, skills training, entrepreneurship and rural development and overall social and economic development of the area; L (b) “free port” – a duty free area, located at a port of entry where IA imported goods may be unloaded for warehousing, repackaging or processing of imported goods for value- adding activities, and logistics services; (c) “free trade zone” – a duty free area that accommodates IC specific activities targeted for international trade; (d) “industrial park” – a purpose built industrial estate that leverages domestic and foreign fixed direct investment in manufacturing industries and logistics and distribution; F (e) “single zone enterprise” – restricted to one business entity engaged in any one of the following business activities— F (i) manufacturing; (ii) maritime services; (iii) aviation services; O (iv) fishing and fish processing; (v) agriculture and agro processing; N (vi) information and communications technology; (vii) creative industries; U (viii) financial services; (ix) medical tourism services; (x) renewable energy; (xi) logistics and distribution; (xii) business process outsourcing; and (f) “specialised zone” – a place designated for specialised activities, including— (i) manufacturing; (ii) maritime services; (iii) aviation services; (iv) fishing and fish processing; L.R.O. UNOFFICIAL VERSION UPDATED TO MARCH 31ST 2022 LAWS OF TRINIDAD AND TOBAGO www.agla.gov.tt OFFICE OF THE ATTORNEY GENERAL AND MINISTRY OF LEGAL AFFAIRS www.laws.gov.tt 64 1 of 2022 Trinidad and Tobago Special Economic Zones (v) agriculture and agro processing; (vi) information and communications technology; (vii) creative industries; (viii) financial services; (ix) medical tourism services; (x) renewable energy; (xi) logistics and distribution; and (xii) business process outsourcing. L [Sections SCHEDULE 4 IA 35(2)(b), 36(1)(b), 40(4)(b) and 49(2)(b)]. IC ELIGIBILITY CRITERIA TO BE APPLIED BY THE AUTHORITY IN ASSESSING AN SEZ ENTERPRISE/SINGLE ZONE ENTERPRISE/OPERATOR F Eligibility Criteria for SEZ Enterprise F Eligibility Criteria to be applied by the Authority Micro- Enterprise Small and Medium Enterprise (SME) Large Enterprise O 1. The SEZ Enterprise shall be N incorporated or registered in Trinidad and Tobago in √ √ √ U accordance with the Companies Chap. 81:01 Act, 2. New investments in Zone within first two US$10,000 US$50,000 US$1,000,000 year period 3. Sales Turnover < >TT$250,000 - TT$250,000 <TT$10,000,000 >TT$10,000,000 4. No. of qualified 1–5 >50 6–50 full-time personnel UNOFFICIAL VERSION UPDATED TO MARCH 31ST 2022 LAWS OF TRINIDAD AND TOBAGO www.agla.gov.tt OFFICE OF THE ATTORNEY GENERAL AND MINISTRY OF LEGAL AFFAIRS www.laws.gov.tt Trinidad and Tobago Special Economic Zones 1 of 2022 65 Eligibility Criteria for Single Zone Enterprise Eligibility Criteria to be applied by the Authority Single Zone Enterprise 1. The Single Zone Enterprise shall be— (a) incorporated or registered in Trinidad and Tobago in accordance with the Companies Act; or √ (b) registered under the Registration of Business Names Act 2. New investments in Zone within first two year period L US$5,000,000 3. Sales Turnover 4. No. of full-time personnel IATT$25,000,000 >50 IC Eligibility Criteria for Operator Eligibility Criteria to be applied by the Authority Operator F New investments in Zone-related buildings, machines, F equipment, facilities and other necessary assets during the first two years US$10,000,000 O N U SCHEDULE 5 (Section 90). CONSEQUENTIAL AMENDMENTS First Column Second Column Financial Intelligence In section 8(1), by deleting the words “and the Non- Unit of Trinidad and Profit Organisations Act, 2019” and substituting the Tobago Act, Chap. 72:01 words “, the Non-Profit Organisations Act, 2019 and the Special Economic Zones Act, 2021”. L.R.O. UNOFFICIAL VERSION UPDATED TO MARCH 31ST 2022