Home | Databases | WorldLII | Search | Feedback Papua New Guinea Sessional Legislation

  Download original PDF

Public Officers Superannuation Fund (Amendment) Act 2000

PAPUA NEW GUINEA

Public Officers Superannuation Fund (Amendment) Act 2000.

No. 58 of 2000.
Certified on: 02 Feb 2001

AN ACT

entitled

Public Officers Superannuation Fund (Amendment) Act 2000,

Being an Act to amend the Public Officers Superannuation Fund Act 1990,

MADE by the National Parliament to come into operation in accordance with a notice in the National Gazette by the Head of State, acting with, and in accordance with, the advice of the Minister.

1. CONSTITUTION OF THE BOARD (AMENDMENT OF SECTION 4).

Section 4 of the Principal Act is amended -

(a) in Subsection (1)(c) by repealing Subparagraphs (i), (ii) and (iii) and replacing them with the following:-

• "(i) one shall represent the Police Association; and
• (ii) one shall represent the Public Employees Association; and
• (iii) one shall represent the Teachers' Association,

appointed from a list of three persons nominated by each respective organization and submitted to the Minister."; and
(b) in Subsection (2) by inserting at beginning of Paragraph (a) the following -

• "subject to Subsection (5) and on his approval of a nominee from the list of nominees submitted to. him by each respective organization thereunder,"; and

(c) by adding at the end of that section the following new section:-

• "5. A nominee appointed under Subsection (2)(a) shall -
  • (a) be competent and have sound judgment for fulfilling his duties as a member of the Board; and
  • (b) possess specialist professional skills enabling analysis of investment and financial reports; and
  • (c) possess wide industrial and management experience and have the ability to meaningfully participate as a member of the Board; and
  • (d) have a reputable standing within the community and the body it represents; and
  • (e) not have any record of convictions involving fraud, dishonesty or any offence which may demean the integrity of the Board and the purpose of this Act.".

2. VACATION OF OFFICE OF CONTRIBUTOR'S REPRESENTATIVE (AMENDMENT OF SECTION 7).

Section 7 of the Principal Act is amended in Subsection (1) -

(a) by adding at the end of Paragraph (c) the following:-

• "; and"; and

(b) by adding at the end of that Subsection the following new Paragraph:-

• "(d) his term of office as a member of the Board expires.".
  

I hereby certify that the above is a fair print of the Public Officers Superannuation Fund (Amendment) Act 2000 which has been made by National Parliament.

Acting Clerk of the National Parliament.
02 FEB 2001

I hereby certify that the Public Officers Superannuation Fund (Amendment) Act 2000 was made by the National Parliament on 5 December 2000.

Acting Speaker of National Parliament.
02 FEB 2001