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Development Bank of Vanuatu (Amendment) Act 1989

Commencement: 26 June 1989

REPUBLIC OF VANUATU

THE DEVELOPMENT BANK OF VANUATU (AMENDMENT) ACT
No. 19 OF 1989

Arrangement of Sections

1. Amendment of section 19 of Act No. 13 of 1983.
2. Commencement.

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REPUBLIC OF VANUATU

THE DEVELOPMENT BANK OF VANUATU (AMENDMENT) ACT
No. 19 OF 1989

Assent: 19/6/89
Commencement: 26/6/89

To amend the Development Bank of Vanuatu Act No. 13 of 1983.

BE IT ENACTED by the President and Parliament as follows:-

AMENDMENT OF SECTION 19 OF ACT 13 OF 1983

1. Section 19 of the Development Bank of Vanuatu Act No. 13 of 1983 is amended by repealing subsection (3) and the following subsection substituted:-

"(3) Subject to subsection (6) the Managing Director shall hold office for a term not exceeding five years and may with the prior approval of the Minister be eligible for re-appointment."

COMMENCEMENT

2. This Act shall come into force on the date of its publication in the Gazette.

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