The Caribbean Court of Justice (CCJ) on Friday ruled that Trust Company (Guyana) Limited is required to register with the Guyana Securities Council (GSC) where it issues a security owned by more than 50 persons.
The CCJ dismissed the appeal of Trust Company and affirmed the orders of the Guyana Court of Appeal. The CCJ heard the appeal on 20 April 2021.
According to the CCJ’s summary of the decision, on 5 March 2010, the GSC wrote to Trust Company informing it that, as it had more than fifty shareholders, it was a public company and was required to register with the GSC as a reporting issuer. Trust Company acknowledged that in 2009 there were sixty shareholders registered in the company’s books but it refused to register.
