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Development Bank of Kiribati (Amendment) Act 1993

REPUBLIC OF KIRIBATI
(No. 1 of 1993)

I assent,

(Signed)
Teatao Teannaki
Beretitenti

16/06/1993

AN ACT TO AMEND THE DEVELOPMENT BANK OF KIRIBATI
ACT 1986

Commencement:
1993

MADE by the Maneaba ni Maungatabu and assented to by the Beretitenti.

Short title

1. This Act may be cited as the Development Bank of Kiribati (Amendment) Act No. 1 of 1993.

Amendment of Section 13(6) of Principal Act

2. Section 13(6) of the Principal Act is repealed and be substituted as follows -

"13. (6) No officer or employee of the Bank and Member of the Maneaba ni Maungatabu shall be a member of the Board".

Amendment of Section 23(1)(a) - (d) of the Principal Act

3. The whole of Section 23(1)(a) - (d) of Principal Act repealed and substituted as follows -

"23. (1) There shall be a General Manager and a Deputy General Manager of the Bank who –

(a) shall be appointed by the Board after consultation with the Public Service Commission; and

(b) shall hold office subject to good behaviour".

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DEVELOPMENT BANK OF KIRIBATI (AMENDMENT)
ACT 1993

EXPLANATORY MEMORANDUM

The purpose of this Act is to amend Section 13(6) to disqualify a Member of the Maneaba ni Maungatabu from appointment as a member of the Board and also to amend Section 239(1) to remove the period not exceeding four years specified as the term of appointment of the General Manager and Deputy General Manager.

Beniamina Tinga
MP(Nikunau)