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Solomon Islands National Provident Fund (Amendment) Act 2018

SOLOMON ISLANDS NATIONAL PROVIDENT FUND (AMENDMENT) ACT 2018

(NO. 10 OF 2018)

PASSED by the National Parliament this first day of November 2018.

(This printed impression has been carefully compared by me with the Bill passed by Parliament and found by me to be a true copy of the Bill)

Clezy Rore
Clerk to National Parliament

ASSENTED to in Her Majesty’s name and on Her Majesty’s behalf this twenty-seventh day of November 2018.

Sir Frank Utu Ofagioro Kabui
Governor-General

Date of Commencement: date of assent.

AN ACT TO AMEND THE SOLOMON ISLANDS NATIONAL PROVIDENT FUND ACT (CAP. 109).

ENACTED BY THE NATIONAL PARLIAMENT OF SOLOMON ISLANDS.

SOLOMON ISLANDS NATIONAL PROVIDENT FUND (AMENDMENT) ACT 2018

Table of provisions

PART 1 PRELIMINARY MATTERS 1
1 Short title 1
2 Commencement 1
PART 2 AMENDMENT OF SOLOMON ISLANDS NATIONAL PROVIDENT FUND ACT 1
3 Act amended 1
4 Section 8 amended 1
5 New section 18A 1
6 Section 22(2) amended 2
PART 3 AMENDMENT OF SOLOMON ISLANDS NATIONAL PROVIDENT FUND REGULATIONS 2
7 Regulations amended 2
8 New regulation 61A 3
9 Regulation 62(a) amended 3
10 Regulation 63(a) amended 3
11 Regulation 75 amended 3

SOLOMON ISLANDS NATIONAL PROVIDENT FUND (AMENDMENT) ACT 2018

PART 1 PRELIMINARY MATTERS

1. Short title

This Act may be cited as the Solomon Islands National Provident Fund (Amendment) Act 2018.

2. Commencement

This Act commences on the date of assent by the Governor-General.

PART 2 AMENDMENT OF SOLOMON ISLANDS NATIONAL PROVIDENT FUND ACT

3. Act amended

This Part amends the Solomon Islands National Provident Fund Act (Cap. 109) (the “principal Act”).

4. Section 8 amended

Section 8 of the principal Act is amended by:

(a) deleting “each financial year” and substituting “September in each year”; and

(b) deleting “that financial year” and substituting “the preceding financial year”.

5. New section 18A

The principal Act is amended by inserting the following new section after section 18:

“18A youSave Scheme

(1) The youSave Scheme is established.

(2) A person may join the youSave Scheme if the person:

(a) is between 16 and 70 years of age; and

(b) is a resident of Solomon Islands; and

(c) is not an employee at the time of joining the youSave Scheme.

(3) The youSave Scheme is a voluntary contribution scheme.

(4) The primary purpose of the youSave Scheme is to provide a voluntary savings scheme for people not in formal employment.

(5) The following provisions of the Act do not apply to members of the youSave Scheme:

(a) the deduction of the amount prescribed under section 22(2) of the Act;

(b) section 34.

(6) Section 28 and section 29 of the Act do not apply to members of the youSave Scheme.

(7) The regulations may provide for the operation of the youSave Scheme, including by providing for the payment of a special benefit on the death of a member.

6. Section 22(2) amended

Section 22(2) of the principal Act is amended by:

(a) deleting “and shall” and substituting “and in consultation with the Minister must”;

(b) deleting “the sum of five dollars” and substituting “the amount prescribed by regulations”; and

(c) deleting “five dollars” and substituting “the amount prescribed”.

PART 3 AMENDMENT OF SOLOMON ISLANDS NATIONAL PROVIDENT FUND REGULATIONS

7. Regulations amended

This part amends the Solomon Islands National Provident Fund Regulations (LN 90 of 1976 ).

8. New regulation 61A

The regulations are amended by inserting in Part VIII and before regulation 62, the following new regulation:

“61A Amount prescribed

For section 22(2) of the Act, the amount prescribed is $30.”

9. Regulation 62(a) amended

Regulation 62(a) is amended by deleting “five dollars ($5)”, and substituting “the amount prescribed by regulation 61A”.

10. Regulation 63(a) amended

Regulation 63(a) is amended by deleting “five dollars ($5)” (wherever occurring) and substituting “the amount prescribed by regulation 61A”.

11. Regulation 75 amended

(1) Regulation 75(1) is amended by deleting “twenty cents therefor” and substituting “$50”.

(2) Regulation 75(2) is amended by deleting “twenty cents” and substituting“$50”.