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Public Finance Act - Tuvalu Reserve Fund (Special Fund) Order

LAWS OF TUVALU
2008 Revised Edition

TUVALU RESERVE FUND (SPECIAL FUND) ORDER

CAP. 4.20.3

MADE UNDER SECTION 20 (1) OF THE PUBLIC FINANCE ORDINANCE¹

1 Citation

This Order may be cited as the Tuvalu Reserve Fund (Special Fund) Order.

2 Establishment of Reserve Fund

There is hereby established a Special Fund to be known as the Tuvalu Reserve Fund (hereinafter known as "the Reserve Fund") which shall be a revenue reserve fund for Tuvalu.

3 Revenues of the Fund

There shall be paid into the Reserve Fund —

(a) such moneys now in the hands of the Tuvalu Government as are specified in the Schedule, being moneys received at or about the time of and in consideration of Tuvalu's Independence Celebrations;

• (b) moneys received after the making of this Order from any other government or from any body or person and intended expressly or by implication to be placed in the Reserve Fund;

• (c) moneys received by way of interest or dividend on any investment or loan of any moneys belonging to the Reserve Fund;

• (d) moneys appropriated for the Reserve Fund by Parliament.
  

4 Use of the Fund

The revenues of the Reserve Fund shall be used for such purposes as Parliament may from time to time specify by resolution and shall meanwhile be invested in such manner and on such terms as the Minster, in his discretion, may think fit.

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SCHEDULE
(Paragraph 3)

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ENDNOTES
1 LN 18/1978, LN 4/1979