Business
Companies Act 1995 on the Canadian model
The Companies Act 1995 replaced the older English-style ordinance with a statute modelled on Canadian business corporations legislation, which is why Trinidad and Tobago uses articles of incorporation rather than a memorandum. Companies are registered with the Companies Registry at the Ministry of the Attorney General and Legal Affairs. A single shareholder and a single director are permitted for a private company.
Key rules
- Jurisdiction — National registry; the Securities and Exchange Commission regulates public issuers
- Deadline — Annual return: filed within 30 days of the anniversary of incorporation
- Deadline — Notice of change of directors: filed within 30 days
- Deadline — Charges: registered to preserve priority
Governing law
- Companies Act 1995
- Bankruptcy and Insolvency Act 2007
- Securities Act 2012
- Fair Trading Act 2006
In practice
The Canadian lineage has practical consequences beyond terminology: the statute contains an oppression remedy and a derivative action with leave, giving minority shareholders a route that English-model companies legislation in the region often lacks. Continuance provisions also allow a foreign company to migrate into the jurisdiction rather than incorporate afresh.