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Ronwan Consolidation (Amendment No. 2) Act 2016

REPUBLIC OF NAURU

RONWAN CONSOLIDATION (AMENDMENT NO. 2) ACT 2016

No. 38 of 2016

An Act to amend the Ronwan Consolidation (Amendment) Act 2016 to ensure the orderly and timely completion of the liquidation and winding-up of the Nauru Phosphate Royalties Trust and the Nauruan Land Owners Royalty Trust Fund administered by it, which commenced under the Ronwan Consolidation Act 2014.

Certified: 19th July 2016

Table of Contents

1 SHORT TITLE
2 COMMENCEMENT
3 AMENDMENT OF RONWAN CONSOLIDATION ACT 2014
4 AMENDMENT OF SECTION 3
5 INSERT NEW SECTION 41A
6 AMENDMENT OF SECTION 49

Enacted by the Parliament of Nauru as follows:

1 Short title

This Act may be cited as the Ronwan Consolidation (Amendment) No. 2 Bill 2016.

2 Commencement

This Act commences upon certification by the Speaker.

3 Amendment of Ronwan Consolidation Act 2014

The Ronwan Consolidation Act 2014 is amended by the provisions of this Act.

4 Amendment of section 3

Section 3 of the Act is amended by inserting a new sub-section 3.15A as follows:

3.15A In the Nauru Phosphate Royalties Trust Act 1968, the 'Transition Date' means 30 June 2017 or any other date stipulated under any Regulation made pursuant to this Act.

5 Insert New Section 41A

A new section 41A is inserted in the Act as follows-

41A. Section 33 of the Nauru Phosphate Royalties Trust Act 1968 is amended by omitting and replacing section 33 with the following -

• Section 33 Regulations
• The Cabinet may make regulations prescribing any matter or thing required or authorised by this Act to be prescribed or which is necessary or convenient to be prescribed for carrying out or giving effect to this Act.

6 Amendment of Section 49

Section 49 of the Act is amended by omitting and replacing '31 July 2016' with 'the Transition Date' in each of Sub-Sections: 49.1, 49.4, 49.5, 49.6, 49.7, 49.8, 49.9, 49.10, 49.11, 49.12 and 49.13.