Commencement: 23 June 2008

republic of vanuatu

reserve bank of vanuatu (amendment)
act no. 5 of 2008

Arrangement of Sections

1. Amendment
2. Commencement

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republic of vanuatu

Assent: 11/06/2008
Commencement: 23/06/2008

RESERVE BANK of Vanuatu (Amendment)
Act NO. 5 of 2008

An Act to amend the Reserve Bank of Vanuatu Act [CAP 125].

Be it enacted by the President and Parliament as follows:

1	Amendment

The Reserve Bank of Vanuatu Act [CAP 125] is amended as set out in the Schedule.

2	Commencement

This Act commences on the day on which it is published on the Gazette.

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schedule

amendments of the RESERVE BANK of Vanuatu
act [CAP 125]

1	Paragraph 8(3) (a)

After "Governor" insert "ex officio"

2	After subsection 8(4) 

Insert

"(4A)	The Minister is to appoint a Chairperson of the Board from amongst the members of the Board (other than the Governor) referred to under subsection (3)."

3	Subsection 8(5)

Delete the words "The Governor, who shall be the Chairman", substitute "The Chairperson"