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Central Banking (Unauthorized Advances Validation) Act 2001

PAPUA NEW GUINEA

Central Banking (Unauthorized Advances Validation) Act 2001.

No. 28 OF 2001
Certified on: 11.02.05

ARRANGEMENT OF SECTION.

Validation.

AN ACT

entitled

Central Banking (Unauthorized Advances Validation) Act 2001,

Being an Act to validate certain advances made by the Central Bank to the Government in excess of the total amount of advances authorized,

MADE by the National Parliament to be deemed to have come into operation on 5 December 2001.

VALIDATION.

Advances made by the Central Bank to the Government under Section 55 (2) and (3) of the Central Banking Act 2000 during the period 1 March 2001 to 30 April 2001, insofar as they exceeded the total amount of advances authorized by Section 55 (4)(a) of the Central Banking Act 2000, are hereby validated.

I hereby certify that the above is a fair print of the Central Banking (Unauthorized Advances Validation) Act 2001 which has been made by the National Parliament.

Clerk of the National Parliament.

I hereby certify that the Central Banking (Unauthorized Advances Validation) Act 2001 was made by the National Parliament on 5 December 2001.

Speaker of the National Parliament.