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State-Owned Enterprises (Amendment) Act 2013

REPUBLIC OF KIRIBATI

STATE-OWNED ENTERPRISES ACT (AMENDMENT) 2013

(No. 13 of 2013)

I assent,

Beretitenti
30 Dec, 2013

An Act to amend the State-Owned Enterprises Act

Commencement
2013

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

Short title

1. This Act may be cited as the State-Owned Enterprises (Amendment) Act 2013.

2. Amendment of section 16

Section 16 is amended by inserting a new section 16A as follows:

"16A Directors' sitting allowance

(1) Notwithstanding section 15, directors of an SOE, may be paid, out of the funds of that SOE, a sitting allowance for attending to any board meetings of that SOE, at such rates as the Beretitenti, acting in accordance with the advice of the Cabinet, determines.

(2) This section prevails over any contrary provisions of other laws or the articles of the SOE.

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EXPLANATORY MEMORANDUM

The purpose of the Act is to legislate sitting allowances in respect of the directors of state owned enterprises. This is done by creating a new section, dealing with sitting allowances, namely section 16A.

Rairana

Te Bira aio e karaoa te tua ibukin kabwakaan te arauenti ni bowi ibukia tarekita n ana rabata ni karikirake te tautaeka. E karaoaki aio ni karinan te kibu ae boou ae tabe ma te arauanti n bowi.

Teburoro Tito MP
(Urban Tarawa)
23/7/2013

Published by exhibition at the Maneaba ni Maungatabu this day 30 day of December 2013.

Eni Tekanene
Clerk of the Maneaba ni Maungatabu