Government gives more powers to Finance Minister.

PORT OF SPAIN, Trinidad, CMC – The Trinidad and Tobago government says it is delegating certain powers carried out by the President under the Foreign Investment Act to the Minister of Finance, Davendranath Tancoo, in a move seen as easing the burden of doing business here.

According to the Delegation of Functions (Foreign Investment) Order, 2026, published in the official Gazette, “Specifically, the Minister can now grant extensions allowing foreign investors to retain land acquired through inheritance, mortgage foreclosure or as judgment creditor beyond the usual one-year period.

“This is a targeted delegation, not a general transfer of all foreign-investment approvals,” it notes, identifying Section 51 (1) of the Interpretation Act, which reads, “Subject to subsection (4), where a written law confers a function on the President, a Minister or a specified public officer, the President or the Minister may by Order delegate any other public officer or officers to exercise the function on his behalf, and thereupon, or from the date specified in the delegation, the person or persons delegated may exercise the function.”

As a result, Tancoo will be allowed to carry out his duties, notwithstanding any other provision of legislation under which land, including land prescribed by the Minister, may be acquired by a foreign investor.

The Order also empowers Tancoo to act, instead of the President under an intestacy, or as a beneficiary or as an executor under a will, for a period of one year from the date of the death of the testator or intestate, or for such extended time as the President may grant.

It notes also that, in pursuance of his rights to foreclose or enter into possession as a mortgagee for a period of one year from the acquisition of such land or for such extended time as the President may grant, as well as as a judgment creditor for a period of one year from the date of his acquisition of the land or for such extended time as the President may grant.