Home' Trinidad and Tobago Guardian : June 27th 2013 Contents A24
In accordance with sections 7, 8, and 9 of the Freedom
of Information Act, 1999 the Deposit Insurance
Corporation being considered a 'public authority' with-
in the definition set out in Section 4 K (iii) of the FOIA,
hereby lists the documents and information generally
available to the public.
The Act gives members of the public the right:-
1. To access information held by the Corporation.
2. To have official information relating to him/her
amended where it is incomplete, incorrect or
3. To obtain reasons for adverse decisions made
regarding an applicant's request for information
under the FOIA.
4. To complain to the Ombudsman and to apply to the
High Court for Judicial Review to challenge
adverse decisions made under the FOIA.
• FUNCTIONS OF THE CORPORATION
The Deposit Insurance Corporation was established by
the Central Bank and Financial Institutions (Non-
Banking) (Amendment) Act, 1986. The main function
of the Deposit Insurance Corporation (DIC) is to man-
age the Deposit Insurance Fund which was established
to provide insurance protection to depositors against
the potential loss of their deposit holdings in financial
institutions licensed under the Financial Institutions
Act, No. 26 of 2008.
"To contribute to the stability, safety and integrity of
and public confidence in the financial system of
Trinidad and Tobago by providing protection and sup-
port for eligible depositors and member institutions and
by the prudent and profitable management of the
Deposit Insurance Fund."
"To become a pro-active and efficient deposit insurance
system, evolving to meet the ever changing needs of a
The Corporation is managed by a General Manager and
is comprised of (3) three divisions.
is made up of a Senior Insurance and
Planning Officer and a Research & Data Base
Assistant. The Division is responsible for assessing
the risk portfolio of member institutions, collecting
insurance premiums from member institutions,
processing and settling the insurance claims of
depositors and managing the realization of the
assets of failed institutions.
provides legal advice on
liquidation matters and all other issues of a legal
nature related to the operations of the Corporation.
The Division also provides corporate secretarial
duties to the Board of Management of the
Corporation. It is staffed by the Legal
Counsel/Corporate Secretary, a Communications
Technician and a Liquidations Assistant.
maintains the accounts and prepares the budgets of
the Corporation. It analyses and maintains accounting
records of the investment portfolio, invests the funds
under the Corporation's control, prepares statutory
reports for liquidations in progress and performs
database administration and systems maintenance.
In addition to the Head of Corporate Services and
Finance, the Division is staffed by a Business
Analyst, Technical Analyst, Assistant Accountant,
Accounting Assistant and an Administrative
4. The General Manager's office is comprised of a
Finance, Research & Market Analyst, whose duties
include; analysing capital and foreign exchange
markets, recommending investments for available
funds, as well as conducting research and reviewing
the assessment profiles of member institutions. The
office is supported by an Executive Secretary, to
whom the Courier/Office Assistant and Hospitality
1. Files dealing with the administrative support and
general administrative documents for the
operations of the Corporation.
2. Personnel files which detail all staff contracts,
appointments, job applications, job specifications,
resignations, leave, vacation, pensions, loans,
performance appraisals etc.
3. Collective Agreements, Circulars, Memoranda,
Notices, Bulletins, Non-Disclosure Agreements,
Confidentiality Agreements, Requests for
Proposals, Statements of Work.
4. Financial Accounting records (payment vouchers,
cheques, receipts, journals, reconciliation
5. Files dealing with the accounting and financial
management functions of the Corporation.
6. Files dealing with matters relating to the
procurement of supplies and equipment (requests
for proposals, service contracts, etc.).
7. Policy and procedure manuals/documents.
8. Documents relating to the strategic review of the
9. Circulation files consisting of Internal and External
10. Legislation, Legal Notices and Gazettes.
11. Legal opinions and related matters.
12. Files containing litigation matters in which the
Corporation is named as a party.
13. Documents dealing with training - local and foreign.
14. Minutes/ Board Notes/ Agenda of Meetings of the
Board of Management of the Corporation and
15. Documents dealing with the appointment of
Directors to the Board of Management of the
Corporation: Cabinet Minutes, Letters of
Appointment and Resignation, Fee Structures etc.
16. Reports: Statistical, Annual, Financial,
Investments, Audit, Consultant and Technical.
17. Valuations, Company Searches, Surveys, Maps and Plans.
18. Agreements for Sale, Deeds of Conveyance,
Mortgages & Releases, Memoranda of Transfer,
Mortgages & Releases.
19. Quarterly disclosure documents relating to the
Deposit Liabilities of member institutions.
20. Files relating to the collection of Premia and
Annual Contributions of member institutions.
21. Files relating to the financial affairs of member
institutions (in liquidation) for which the
Corporation acts as court appointed Liquidator.
22. Winding up Petitions and Court Orders.
23. Files obtained from failed member institutions over
which the Corporation now acts as the legal custodian.
24. Files relating to liquidations and payouts
(settlement of claims, sale of assets, recovery of
outstanding loans, etc).
25. Documents dealing with official functions,
conferences, and events hosted or attended by the
staff of the Corporation.
26. Registers, certificates, permits and licences.
27. Books, booklets, journals, magazines and manuals
relating to the overall functions of the Corporation.
The Deposit Insurance Corporation Information
Booklet can be obtained by the public free of charge at
the Corporation's offices in the Central Bank Building.
(Limited supply available).
Annual Reports of the Deposit Insurance Corporation
can be obtained by the public free of charge at the
Corporation's offices in the Central Bank Building.
(Limited supply available).
Information on the Deposit Insurance Corporation may
be viewed on the Corporation's website at
The Corporation does not offer a subscription service
or have any literature available to the public by way of
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