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Tonga Development Bank (Amendment) Act 1991

TONGA

TONGA DEVELOPMENT BANK (AMENDMENT) ACT 1991

Act 12 of 1991

AN ACT TO AMEND THE TONGA DEVELOPMENT BANK ACT

I assent,

TAUFA'AHAU TUPOU IV,
25th October, 1991

[15th August, 1991]

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

1. (1) This Act may be cited as the Tonga Development Bank (Amendment) Act 1991.

(2) The Tonga Development Bank Act (Cap 106), as amended, is in this Act referred to as The Principal Act.

2. Subsection (1) of Section 4 of the Principal Act is deleted and substituted by the following:

"4 (1) The authorized capital of the Bank is fourteen million pa'anga (T$14,000,000) divided into one million four hundred thousand (1,400,000) shares of ten pa'anga (T$10) each".

Passed in the Legislative Assembly this 15th day of. August, 1991.

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