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Compulsory Retirement (Statutory Corporation and Government Owned Companies) (Amendment) Act 2016

REPUBLIC OF KIRIBATI

(No. of 2016)

I assent,

Beretitenti
2016

AN ACT
entitled

AN ACT TO AMEND THE COMPULSORY RETIREMENT (STATUTORY CORPORATIONS AND GOVERNMENT OWNED COMPANIES) ACT 1998.

Commencement

2016

MADE by the Maneaba ni Maungatabu and assented to by Te Beretitenti.

Short Title

1. This Act may be cited as the Compulsory Retirement (Statutory Corporations and Government Owned Companies) (Amendment) Act 2016.
   

Commencement

2. This Act shall come into operation on the date to be appointed by the Minister.
   

Interpretation

3. Unless the context otherwise provides:-
   

“Principal Act” means the Compulsory Retirement (Statutory Corporations and
Government Owned Companies) Act 1998.

Amendment to section 5

4. Section 5 of the Principal Act is hereby amended by repealing the figure “50” and substituting it with the figure “55”.
   

Amendment to section 6

5. Section 6 of the Principal Act is hereby amended by repealing the text appearing towards the end of the main provision that reads:
   

“may extend the age at which an employee of that Corporation or Company must retire to 55 years of age if:-”

and substitute it as follows:-

“may extend the service of the employee beyond 55 years of age if:-”

EXPLANATORY MEMORANDUM

1. The Act seeks to align the new government retirement policy to its permanent employees from 50 to 55 years of age with the Statutory Corporations and Government Owned Companies. The retirement age for civil servants is a matter of policy, however, any changes that will include Statutory Corporations and Government Owned Companies need an amendment to the Act.
   
2. Section 5 is amended to increase the retirement age from 50 to 55 years of age. It is a simple and straight forward amendment that will now allow Statutory Corporations and Government Owned Companies to extend their employees retirement age to 55.
   
3. Section 6 is amended to allow the Statutory Corporations and Government Owned Companies to extend the service of their employees beyond 55. The amendment to this provision is to allow the Statutory Corporations and Government Owned Companies the ability to extend the service of their employees beyond the compulsory retirement age but only if they meet the criterion provided therein.
   

Hon. Natan Teewe
Minister of Justice