Trinidad and Tobago

Act, Chapter 77:01 (Act 13 of 1963 last amended by Act 46 of 2013)

Legislative

Law

Passed in 2000

This Act establishes the Green Fund to financially assist organisations and community groups that are engaged in activities related to remediation, reforestation and conservation of the environment. Effect from 1 January 2001, the 0.1% Green Fund Levy applies on gross sales or receipts of a company carrying on business in Trinidad and Tobago. The Green Fund is the National Environmental Fund of the Republic of Trinidad and Tobago. The detailed definition of the relevant activities are as follows:
- Remediation: remedying and restoring the functional capacity of an environmental resource damaged by both natural or man-made causes (e.g. wetland or watershed restoration after a storm, land restoration of abandoned oilfields after quarrying or mining)
- Reforestation: replanting a previously forested area mainly with seedlings of indigenous forest tree species
- Conservation: wise use of natural resources for the benefit of present and future generations (e.g. ecotourism, national parks, renewable energy, reducing pollution (e.g. greenhouse gas emission), sustainable fishery, protecting biodiversity and ecosystems, green technologies and practices)

Activities financed by the Green Fund shall be managed by the Minister responsible for finance. The Minister responsible for the environment shall appoint a committee called the Green Fund Advisory Committee to advise on the certification of activities. The Committee comprises of a minimum of five but no more than nine members, selected among persons with experience and relevant qualifications in the areas of finance, environmental management, law or forestry that have demonstrated interest in remediation, reforestation, environmental education and public awareness of environmental issues or conservation. The members of the Committee holds office for two years and renewed by no more than two consecutive terms.

All accounts of the Green Fund are kept separately by the Comptroller of Accounts, and shown to Parliament in the general accounts. The Auditor General, in accordance with the Exchequer and Audit Act, audits them annually. The Minister may make Regulations for:
- The management and control of the Green Fund
- The accounts, books and form to be used in the management of the Green Fund
- The projects and other activities which advances are made from the Green Fund
- The general operations of the Green Fund.

Documents

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