PAPUA NEW GUINEA

Privatization (Amendment) Act 2002.
No 3. of 2002.
Certified on: 09. 04. 02
ARRANGEMENT OF SECTIONS.
1. Interpretation (Amendment of Section 1).
2. Members of the Commission (Amendment of Section 6).
3. Repeal and replacement of Section 7.
4. Further Amendments.
SCHEDULE.
AN ACT
entitled
Privatization (Amendment) Act 2002.
Being an Act to amend the Privatization Act 1999,
MADE by the National Parliament to come into operation on 31 March 2002.
1	INTERPRETATION (AMENDMENT OF SECTION 1).
Section 1 of the Principal Act is amended —
	(a) by inserting after the definition of "assets" the following new definition:-
	"Chairman" means the Chairman of the Commission appointed under Section 7;"; and
	(b) by repealing the definition of "Executive Chairman".
2	MEMBERS OF THE COMMISSION (AMENDMENT OF SECTION 6). 
Section 6 of the Principal Act is amended by repealing Subsection (3) and replacing it with the following:—
	"(3) The Chairman and members and their nominees (except the Managing Director) shall be paid such allowances and fees as are determined by the Minister.".
3	REPEAL AND REPLACEMENT OF SECTION 7.
Section 7 of the Principal Act is repealed and is replaced with the following:—
	"7. CHAIRMAN.
	(1) The Chairman shall be appointed by notice in the National Gazette by the Head of State, acting on advice.
	"(2) The functions of the Chairman are:‑
	(a) to ensure the Commission fulfills its functions and that the work of the Commission complies with this Act; and
	(b) to preside at meetings of the Commission in accordance with this Act; and
	(c) on behalf of the Commission, to present recommendations of the Commission to the National Executive Council; and
	(d) such other functions as are incidental to the functions specified in this subsection.".
4	FURTHER AMENDMENTS.
The Principal Act is amended by repealing the word "Executive" in the provisions specified in the Schedule.
SCHEDULE.
Sections 6(1)(a), 7A(3)(f), 10(3), 10(4)(b) (twice occurring).
I hereby certify that the above is a fair print of the Privatization (Amendment) Act 2002 which has been made by the National Parliament.
Clerk of the National Parliament.
I hereby certify that the Privatization (Amendment) Act 2002 was made by the National Parliament on 27 February 2002.
Speaker of the National Parliament.