TUVALU

PETROLEUM (AMENDMENT) ACT 1990
(Act 3 of 1990)

I Assent

Toaripi Lauti PC
Governor-General

19th December 1990

AN ACT to amend the Petroleum Act (Cap. 42) to enable the licence fee to be varied.

(Commencement:1 January 1991)

ENACTED by the Parliament of Tuvalu -

Short title and commencement

1. This Act may be cited as the Petroleum (Amendment) Act 1990 and shall come into operation on such date as the Minister by order shall appoint.

Amendment of section 6 of Cap. 42

2. Section 6 of the Petroleum Act is amended by repealing subsection (6) and substituting the following subsection:

"(6) For every licence issued, renewed or transferred a fee shall be paid of such amount or amounts as may by regulation be prescribed."

Amendment of section 17(1) of Cap. 42

3. Section 17(1) of the Petroleum Act is amended by adding a new sub-paragraph (i) as follows:

"(i) the amount or amounts of fees to be paid in accordance with section 6(6) for the issue, renewal or transfer of a licence."

------------------------------------------------------

PETROLEUM (AMENDMENT) ACT 1990

EXPLANATORY MEMORANDUM

(This memorandum is not part of the Act)

This Act amends the Petroleum Act (Cap. 42) by repealing the provision of the fixed fee for a licence to store petroleum contained in section 6(6).

Instead section 6(6) as amended provides that the licence fee will be as prescribed by regulation. Section 17(1) dealing with the making of regulations is amended to enable the level of fees to be set by the Minister.

The change is to allow the fees to be kept up to date without having to amend the Act in future.

-------------------------------------------