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Vanuatu National Provident Fund (Amendment) Act 2003

REPUBLIC OF VANUATU

THE VANUATU NATIONAL PROVIDENT FUND
(AMENDMENT) ACT
NO. 29 OF 2003

Arrangement of Sections

1. Amendments
2. Commencement
   

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REPUBLIC OF VANUATU

Assent: 18^th December, 2003
Commencement: 1^st January, 2004

THE VANUATU NATIONAL PROVIDENT FUND
(AMENDMENT) ACT
NO. 29 OF 2003

An Act to amend the Vanuatu National Provident Fund Act [CAP. 189].

Be it enacted by the President and Parliament as follows-

1. Amendments
   

The Vanuatu National Provident Fund Act [CAP. 189] is amended as set out in the Schedule.

2. Commencement
   

This Act commences on 1 January 2004.

SCHEDULE

AMENDMENTS OF THE VANUATU NATIONAL PROVIDENT FUND ACT [CAP 189]

1 Subparagraph 3(1)(a)(ii)

Delete "National Union of Labour" substitute "trade unions registered under the Trade Unions Act [CAP 161].".

2 After subsection 3(2A)

Insert

"(2B) A member of the Board is not eligible for reappointment if the member has been appointed for 2 terms as a member of the Board.

(2C) A person who is a member of the Board on 1 January 2004 must not be reappointed if the person:

(a) has served at least 2 terms as a member of the Board before 1 January 2004; or

(b) is part of the way through serving his or her second term on 1 January 2004.".

3 After paragraph 3(3)(a)

Insert

"(ab) was a member of the Board at the time a General Manager was appointed or reappointed without the approval of the Minister; or".

4 Subsection 8(1)

Delete "subsection (1A)", substitute "subsections (1A) and (1B)".

5. After subsection 8(1A)
   

Insert

"(1B) A person is not to be appointed or reappointed as the General Manager unless:

(a) the position has been advertised in a local newspaper that is generally circulated throughout Vanuatu; and

(b) the appointment or reappointment is based on merit.".

6 Section 16

After "approved", insert "by Order".

7 Section 16B (heading)

Delete "50", substitute "15".

8 Subsection 16B(1)

Delete "50", substitute "15".

9 Subsection 16E(1)

Delete "50", substitute "15".

10 Subsection 25(1)

Repeal the subsection, substitute

"(1) Subject to subsections (2) and (3), on each occasion when remuneration is paid to an employee under this Act, a contribution to the Fund is to be paid at the rate of 8 percent of that remuneration of which half is to be paid by the employer and half by the employee.".

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