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Foreign Investment (Amendment) Act 1996

REPUBLIC OF KIRIBATI

(No. 10 of 1996)

I assent,

(Sgd: T. Tito)
Beretitenti

09/07/96

AN ACT TO AMEND THE FOREIGN INVESTMENT ACT 1996

Commencement
1996

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

Short title

1. This Act may be cited as the Foreign Investment (Amendment) Act 1996.

Add new section 5

2. Section 5 of the Foreign Investment Act 1985 (No 3 of 1985) as amended is hereby further amended by repealing subsection (1) and substituting the following subsection-

"5. (1) The Commission shall comprise the following members ex officio -

(a) The Secretary for Commerce, Industry ex officio;

(b) The Secretary for Finance and Economic Planning;

(c) The Secretary for Foreign Affairs;

(d) The Secretary for Home Affairs and Rural Development;

(e) The Secretary for Labour, Employment and Cooperatives;

(f) The Secretary for Natural Resources and Development;

(g) The Commissioner of Police;

(h) The Solicitor General."

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GOVERNMENT BORROWING AND GUARANTEE (AMENDMENT) ACT 1996

EXPLANATORY MEMORANDUM

1. The main purpose of this Act is to amend Section 5 of the Foreign Investment Act 1985, as amended, to reflect the reallocation of Ministerial responsibilities and also to add a new member, namely the Commissioner of Police.

2. The inclusion of the Secretary of the Ministry of Labour, Employment and Cooperatives is due to the fact that the Immigration Division is now under their supervision.

3. The inclusion of the Commissioner of Police as a member of the Foreign Investment is to enable the Commission to have access to information (criminal or otherwise) which the Commissioner of Police may be able to provide through the international network of police exchange of information and, which may be needed by the Commission in assessing any given foreign application under this Act.

Michael Neaua Taksbwebwe
Attorney General
7 July 1995