Information on new $100 note. Courtesy the Central Bank of Trinidad and Tobago
THE bill with provisions to replace the Trinidad and Tobago $100 bill with a new polymer one has been unanimously passed in the House of Representatives on Friday night.
Thirty-one Members of Parliament, both Government and Opposition, voted for the Miscellaneous Provisions (Proceeds of Crime and Central Bank) Bill 2019.
Speaking during debate on the bill were Finance Minister Colm Imbert, Pointe-a-Pierre MP David Lee, Chaguanas West MP Ganga Singh, National Security Minister Stuart Young and Attorney-General Faris Al-Rawi.
The House resumes on Wednesday at to debate two bills on marijuana decriminalisation.
The Senate sits from 1.30 p.m. Saturday to debate the money bill.
In his contribution, Young said the bill to replace existing $100 banknotes with polymer bills will curb a number of crimes.
He said it will complement the previously passed explain-your-wealth legislation to curb offences like money laundering.
Young said trafficking in illegal drugs and illegal firearms are businesses done in TT using cash, not credit cards or Linx cards.