–  A European Council Resolution taken at the Amsterdam summit on 17 June 1997. Naturally, the “mother of all rules” remains the Treaty on European Union; Article 104 (1) states clearly that “Member States shall avoid excessive government deficits.” Article 104 of the Treaty also regulates the monitoring and infringement procedure.
As Mr. Benn has noted, the UTC established the first mutual fund in Trinidad and Tobago in 1981, but since the opening of the mutual fund market in 1993, subsidiaries and affiliates of commercial banks have become major players in the mutual fund market. [In 1981, the local mutual fund market started with $ million under management, invested in equitybased and money market funds.