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Supplementary Appropriation (Te Mautari Ltd Special Grant) Act 1986

THE REPUBLIC OF KIRIBATI

(No. 5 of 1986)

I assent,

I. Tabai
Beretitenti
29/5/1986

AN ACT TO APPROPRIATE A CERTAIN SUM OF MONEY
TO BE APPLIED AS A SPECIAL GRANT TO
TE MAUTARI LTD

Commencement: 29/05/1986

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

Short title

1. This Act may be cited as the Supplementary Appropriation (Te Mautari Ltd. Special Grant) Act 1986.

Authorisation of issue of $800,000.00 from the Consolidated Fund

2. The issue from the Consolidated Fund is hereby authorised of a sum of Eight Hundred Thousand dollars ($800,000.00) to be applied as a special grant to the Mautari Ltd.

Appropriation

3. The sum specified in section 2 of this Act shall be appropriated for the supply of the Head of Expenditure specified in Column 1 of the Schedule annexed to this Act in the sum respectively specified in relation thereto in column 2 of the Schedule.

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SCHEDULE

Column 1 Column 2
Head of Expenditure Expenditure Authorised

235 Ministry of Natural Resource Development $800,000.00

Subhead 63 (Grant to Te Mautari Ltd.)

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SUPPLEMENTARY APPROPRIATION (TE MAUTARI LTD.
SPECIAL GRANT) ACT 1986

EXPLANATORY MEMORANDUM

This Act charges upon the Consolidated Fund the sum of Eight hundred Thousand Dollars ($800,000.00) to be applied as a special grant to Te Mautari Ltd. for urgently needed working capital.

Te Mautari Ltd. is a wholly owned Government company which was fully funded by aid. It has now become necessary to provide the company with working capital of sufficient size to enable long term decisions to be taken to save the company from total collapse.

No provision was made in the Appropriation Act of 1985 for the issue of such sum of money from the Consolidated Fund.

This Act is therefore being presented to the Maneaba ni Maungatabu in accordance with the requirements of section 109(3) of the Constitution for the appropriation of the sum of Eight Hundred Thousand Dollars ($800,000.00) from the Consolidated Fund.

Michael N. Takabwebwe
The Attorney General