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National Reserve Bank of Tonga (Amendment) Act 2010

TONGA

NATIONAL RESERVE BANK OF TONGA
(AMENDMENT) ACT 2010

Act No. 47 of 2010

Arrangement of Sections

Section

1 Short Title
2 Section 10 amended – Appointment of Board

NATIONAL RESERVE BANK OF TONGA
(AMENDMENT) ACT 2010

Act No. 47 of 2010

AN ACT TO AMEND THE NATIONAL RESERVE BANK OF TONGA
ACT

______________________________________________________________________________

I assent,
GEORGE TUPOU V,
8th October 2010.

BE IT ENACTED by the King and the Legislative Assembly of Tonga in the Legislature of the Kingdom as follows:

______________________________________________________________________________

1 Short Title

(1) This Act may be cited as the National Reserve Bank of Tonga (Amendment) Act 2010.

(2) The National Reserve Bank of Tonga Act (Cap. 102), as amended, is in this Act referred to as the Principal Act.

2 Section 10 amended – Appointment of Board

Section 10 of the Principal Act is amended by –

(a) adding at the end of sub-section(1) – "and the Minister shall appoint a chair of the Board."

(b) repealing sub-section (2) and replacing it with: -

"(2) The Governor shall be a member but shall not chair the Board."

Passed by the Legislative Assembly on this 27th day of September 2010.