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\par }\pard \qc \li0\ri360\widctlpar\wrapdefault\faauto\adjustright\rin360\lin0\itap0\pararsid13376219 {\b\fs24\insrsid405255 No.2 of 2005}{\b\fs24\insrsid405255\charrsid16125189 
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{\*\xmlopen\xmlns1{\factoidname place}}ISLANDS{\*\xmlclose}{\*\xmlclose} AMENDMENT ACT 2005
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\par }{\fs24\insrsid13711011 Examined and certified by:
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\par }\pard \qc \li0\ri360\widctlpar\wrapdefault\faauto\adjustright\rin360\lin0\itap0\pararsid13711011 {\fs24\insrsid13711011 Clerk of the Parliament
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\par In the name and on behalf of Her Majesty Queen Elizabeth the Second I hereby assent to this Act this }{\fs24\insrsid13711011\charrsid12734210 16th}{\i\fs24\insrsid16451552\charrsid16416380  }{\fs24\insrsid16451552\charrsid12734130 day of }{
\fs24\insrsid13711011\charrsid12734210 June}{\i\fs24\insrsid13711011\charrsid16416380  }{\fs24\insrsid16451552\charrsid12734130 2005}{\fs24\insrsid12734210 .}{\fs24\insrsid16451552\charrsid12734130 
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\par }\pard \qj \li5040\ri360\widctlpar\wrapdefault\faauto\adjustright\rin360\lin5040\itap0\pararsid4679889 {\b\fs24\insrsid13711011\charrsid405255 SIR FREDERICK GOODWIN, KBE}{\b\fs24\insrsid405255\charrsid4679889 
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\par }{\fs24\insrsid4679889\charrsid12734130 
\par }{\fs24\insrsid16451552\charrsid12734130 1. Short Title }{\fs24\insrsid80311 
\par }{\fs24\insrsid16451552\charrsid12734130 2. Banking Licence}{\fs24\insrsid80311 
\par }{\fs24\insrsid16451552\charrsid12734130 3. Transfer of assets}{\fs24\insrsid80311 
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\par }\pard \ql \li720\ri360\widctlpar\wrapdefault\faauto\adjustright\rin360\lin720\itap0\pararsid15300068 {\fs24\ul\insrsid16451552\charrsid15300068 An Act to amend the Bank of the {\*\xmlopen\xmlns1{\factoidname place}}Cook Islands{\*\xmlclose} Act 2003

\par }\pard \ql \li0\ri360\widctlpar\wrapdefault\faauto\adjustright\rin360\lin0\itap0\pararsid12734130 {\fs24\insrsid15300068 
\par }{\b\fs24\insrsid16451552\charrsid12542019 BE IT ENACTED}{\fs24\insrsid16451552\charrsid12734130  by the Parliament of the {\*\xmlopen\xmlns1{\factoidname place}}Cook Islands{\*\xmlclose} in Session assembled and by the authority of the same as follows:

\par }{\fs24\insrsid15300068 
\par }{\b\fs24\insrsid16451552\charrsid3177609 1}{\fs24\insrsid16451552\charrsid12734130 . }{\fs24\ul\insrsid16451552\charrsid12542019 Short Title}{\fs24\insrsid16451552\charrsid12734130  - This 
Act may be cited as the Bank of the Cook Islands Amendment Act 2005, and shall be read together with and deemed part of the Bank of the Cook Islands Act 2003 ("the principal Act").
\par }{\fs24\insrsid3172607 
\par }{\b\fs24\insrsid16451552\charrsid3177609 2}{\fs24\insrsid16451552\charrsid12734130 . }{\fs24\ul\insrsid16451552\charrsid12542019 Banking Licence}{\fs24\insrsid16451552\charrsid12734130  - Notwithstanding anything contained in the Banking Act
 2003, the Corporation shall be deemed to have had a domestic banking licence pursuant to the Banking Act 2003, for the period l}{\fs24\super\insrsid222750\charrsid222750 st}{\fs24\insrsid16451552\charrsid12734130  July 2004 to the 10}{
\fs24\super\insrsid2564874\charrsid2564874 th}{\fs24\insrsid16451552\charrsid12734130  November 2004}{\fs24\insrsid10628913  }{\fs24\insrsid16451552\charrsid12734130 as if in all respects, such licence had been issued by the Financial Sup
ervisory Commission.
\par }{\fs24\insrsid3172607 
\par }{\b\fs24\insrsid16451552\charrsid3177609 3}{\fs24\insrsid16451552\charrsid12734130 . }{\fs24\ul\insrsid16451552\charrsid12542019 Transfer of assets}{\fs24\insrsid16451552\charrsid12734130 
 - (1) Notwithstanding anything contained in the Leases Restriction Act 1976, the approval of the Leases Approval Tribunal shall not be required in the case of any assignment of lease or sublease (including for the avoidance of doubt the}{
\fs24\insrsid10628913  }{\fs24\insrsid16451552\charrsid12734130 
interest of the Bank as mortgagee under any deed of mortgage) from the Corporation to the Bank, or from the Corporation or the Bank to the company incorporated at Rarotonga and known respectively as CIDB Former Loans Limited, wheth
er such assignment occurred or occurs before or after the coming into force of this Act.
\par }{\fs24\insrsid10628913 
\par }{\fs24\insrsid16451552\charrsid12734130 (2) Notwithstanding any provision of law or equity, the transfers of assets from the Corporation to the Bank, or from the Corporation or the Bank to the company incor
porated at Rarotonga under the name CIDB Former Loans Limited, made pursuant to sections 20 or section 35 of the principal Act, and whether occurring before or after the coming into force of this Act, shall be deemed in all respects to have been or to be 
validly made.}{\fs24\insrsid10628913 
\par 
\par }{\b\fs24\insrsid16451552\charrsid3177609 4.}{\fs24\insrsid16451552\charrsid12734130  }{\fs24\ul\insrsid16451552\charrsid12542019 Accounts and audit to 3}{\fs24\ul\insrsid15889628 0}{\fs24\ul\super\insrsid15889628\charrsid15889628 th}{
\fs24\ul\insrsid15889628  }{\fs24\ul\insrsid16451552\charrsid12542019 June 2005}{\fs24\insrsid16451552\charrsid12734130  - For the purpose only of annual accounts and audit for the year ending 30}{\fs24\super\insrsid16347140\charrsid16347140 th}{
\fs24\insrsid16451552\charrsid12734130  June 2005, the company incorporated at Rarotonga and called CIDB Former Loans Limited shall, notwithstanding any provision of
 the Companies Act 1955 of New Zealand as applied by the Companies Act 1970-71 or any other enactment or rule of law to the contrary, be deemed to have been incorporated on the }{\fs24\insrsid10508409 1}{\fs24\super\insrsid10508409\charrsid10508409 st}{
\fs24\insrsid16451552\charrsid12734130  July, 2004.}{\fs24\insrsid16451552 
\par }{\fs24\insrsid10508409 
\par }\pard \qc \li0\ri360\widctlpar\wrapdefault\faauto\adjustright\rin360\lin0\itap0\pararsid10508409 {\fs24\insrsid10638750 ___________________}{\fs24\insrsid10508409 
\par }\pard \ql \li0\ri360\widctlpar\wrapdefault\faauto\adjustright\rin360\lin0\itap0\pararsid405255 {\fs24\insrsid405255 
\par }\pard \qc \li0\ri360\widctlpar\wrapdefault\faauto\adjustright\rin360\lin0\itap0\pararsid3172607 {\fs24\insrsid405255 This Act is administered by the Bank of the Cook Islands Holdings Corporation}{\fs24\insrsid405255\charrsid12734130 
\par }}