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Appropriation 1997 Act 1996

Commencement: 1.1.1997

REPUBLIC OF VANUATU

APPROPRIATION (1997) ACT

NO. 15 OF 1996

Arrangement of Sections

1. Appropriation.
2. Development Bank and National Bank Allocation Subject to Review.
3. Commencement.

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Assent: 30.12.96
Commencement: 1.1.97

APPROPRIATION (1997) ACT

N0. 15 OF 1996

An Act to provide for the appropriation of funds for the services of the Government for the year ending on 31st December, 1997.

BE IT ENACTED by the President and Parliament as follows: -

APPROPRIATION

1. There shall be issued from the Revenue Fund of Vanuatu and applied for the services of the Government for the year ending on the 31st day of December, 1997 a sum not exceeding VT 6,605,000,000 which shall be appropriated as set out in the Schedule.

DEVELOPMENT BANK AND NATIONAL BANK ALLOCATION SUBJECT TO REVIEW

2. The sums of money allocated to the Development Bank of Vanuatu and the National Bank of Vanuatu as shown in the Schedule shall not be paid over to both Banks until a full review of the administration and efficiency of such Banks is completed and the Minister is satisfied that it is in the best interest of the public that such sums of moneys are paid to those Banks.

COMMENCEMENT

3. This Act shall come into force on the 1st day of January, 1997.

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SCHEDULE

RECURRENT EXPENDITURE FOR THE YEAR ENDED 31st DECEMBER 1997

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