CCJ Trust Fund

Establishment of the Fund

The Preamble of the Revised Agreement Establishing the CCJ Trust Fund recognizes the importance of adequate and secure funding to the sustainability, independence and credibility of the Court. It states:

“The Parties to the Agreement Establishing the Caribbean Court of Justice:

Cognisant that the Court is indispensable for the good governance of the Caribbean Community;

Recognising the critical role of the Court in the efficient administration of Justice in the territories of the Contracting Parties to the Agreement establishing the Court;

Recognising further that the Court is vital for the structured and efficient functioning of the CARICOM Single Market and Economy;

Noting the provisions of Article XXVIII of the Agreement establishing the Court which requires the expenses of the Court and the Commission to be borne by the Contracting Parties to the Agreement establishing the Court;

Conscious that the financial viability of the Court is essential for its efficiency, effectiveness and independence in the performance of its functions;

Bearing in mind the decision of the Twenty-Third Meeting of the Conference of Heads of Government of the Caribbean Community concerning the capital and recurrent expenditures of the Court;

Determined to promote and safeguard the independence, integrity and credibility of the Court,

Have agreed…

Functions of the Board

Article VII of the Revised Agreement determines the functions of the Board of Trustees. It states:

“1. The Board shall be responsible for directing the operations of the Fund, and, for this purpose shall, in particular, exercise the following functions:

• evaluate the performance of the Fund;
• establish with the approval of the members guidelines for prudential investment of the resources of the Fund;
• establish with the approval of the members the financial regulations of the Fund;
• appoint the Executive Officer of the Fund;
• authorize the provision of resources required for the biennial capital and operating budget of the Court and the Commission submitted by the Executive Officer;
• appoint an investment manager or managers to manage the investments of the Fund in accordance with the investment guidelines for the Fund;
• approve the annual report on the performance of the Fund for transmission to the members;
• approve the capital and operating annual budget of the Fund;
• appoint the external auditor of the Fund;
• submit an annual report to the members, and
• perform such other functions as may be necessary or appropriate for the operations of the Fund.

2. The Board may exercise such powers and establish such rules as may be necessary or appropriate in furtherance of its purpose and functions consistent with this Agreement.”

Board Composition

Article VI states,

“1. Subject to the provisions of this Article, the Board of Trustees shall consist of the following or their nominees:

• The Secretary-General (of the Caribbean Community);
• The Vice-Chancellor of the University of the West Indies;
• The President of the Insurance Association of the Caribbean;
• The Chairman of the Association of Indigenous Banks of the Caribbean;
• The President of the Caribbean Institute of Chartered Accountants;
• The President of the Organisation of Commonwealth Caribbean Bar Associations;
• The Chairman of the Conference of Heads of the Judiciary of Member States of the Caribbean Community;
• The President of the Caribbean Association of Industry and Commerce; and
• The President of the Caribbean Congress of Labour.

2. There shall be a Chairman and Vice-Chairman of the Board elected by the Board from among its members.  The Chairman and Vice-Chairman shall hold office for a period of three years.”

At present, the Board of Trustees of the Caribbean Court of Justice Trust Fund comprises the following persons:

Mr. Oswald Barnes

Mr. Dalton Lee

Chief Justice
Patterson K.H. Cheltenham