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Tonga Trust Fund (Amendment) Act 1992

LAW OF TONGA

TONGA TRUST FUND (AMENDMENT) ACT 1992

No. 2 of 1992.

I assent,

TAUFA'AHAU TUPOU IV
1st July, 1992.

AN ACT
TO AMEND THE TONGA TRUST FUND ACT (Chapter 112)

[24th June, 1992]

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

1. This Act may be cited as the Tonga Trust Fund (Amendment) Act 1992.

2. Section 7 of the Tonga Trust Fund Act (Cap. 112) is deleted and substituted by the following:

“7. (1) His Majesty in Council may authorize the transfer of such amount from the Tonga Trust Fund to be used for any national development project approved by the Legislative Assembly in the Development Estimates.

(2) The Tonga Trust Fund may be applied for the purposes of Clause 19(a) (ii) of the Constitution.

(3) His Majesty in Council may authorise the payment from the Tonga Trust Fund in any one financial year of an amount not exceeding the latest audited annual interest of the Tonga Trust Fund, into the general revenue to meet the repayments of external public debt.”

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Passed in the Legislative Assembly this 24th day of June, 1992.