REPUBLIC OF NAURU

DEVELOPMENT FUND (AMENDMENT) ACT 2021
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No. 6 of 2021
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An Act to amend the Development Fund Act 2011.  
Certified: 31st March 2021
Table of Provisions
1	Short title
2	Commencement
3	Amendment of the Development Fund Act 2011
4	Amendment of Section 3
5	Amendment of Section 7
6	Amendment of Section 8

Enacted by the Parliament of Nauru as follows:
1	Short title
This Act may be cited as the Development Fund (Amendment) Act 2021.
2	Commencement
This Act commences on certification by the Speaker.  
3	Amendment of the Development Fund Act 2011
The Development Fund Act 2011 is amended by the provisions of this Act.
4	Amendment of Section 3

Section 3 is amended by: 
(a)	deleting the following definitions wherever they appear:

(i)	‘ﬁrst quarter’ is the period from 1 July to 30 September in any year; 

(ii)	‘second quarter’ is the period from 1 October to 31 December in any year;

(iii)	‘third quarter’ is the period from 1 January to 31 March in any year. 

(b)	inserting the word ‘and’ immediately after the definition of ‘reportable deviation’;

(c)	deleting the ‘semicolon’ and inserting a ‘fullstop’  immediately after the definition of ‘the Fund; and

(d)	inserting the following in alphabetical order: 

‘financial year’ means the year commencing from the 1st day of July of a year and ending on 30th June of the following year;  

‘mid-financial year’ means the period from 1 July to 31 December in a financial year;.  
5	Amendment of Section 7
Subsection 7(3)(c) is amended by deleting ‘(whether previously reported or not)’ wherever they appear. 
6	Amendment of Section 8

Section 8 is deleted and substituted as follows: 

‘8 		Mid-financial year reporting requirements 
	
(1)	The Minister shall table in Parliament a report showing the actual income and expenditure of the Fund for the first 6 months of the financial year (‘mid-financial year report’).

(2)	The report shall be tabled within 2 sitting days after the end of the 6 months period. 

(3)	The report shall: 

(a)	show each item of income and expenditure separately by reference to the development project to which it relates; and

(b)	specify the source of each item of income.’