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Companies (Amendment) Act 1997

Commencement: 01 January 1997

REPUBLIC OF VANUATU

THE COMPANIES (AMENDMENT) ACT
NO. 4 OF 1997

Assent: 20/06/97
Commencement: 01/01/97

An Act to amend the Companies Act [CAP. 191].

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

AMENDMENT OF SECTION 308 OF THE COMPANIES ACT [CAP. 191]

1. The Companies Act [CAP. 191] is amended as follows: -

(a) In paragraph (a) of subsection (1) of section 308 by deleting the words "other than severance pay" in the fifth line and substituting the words "including severance allowance calculated and payable pursuant to the provision of the Employment Act [CAP. 160]"; and

(b) In subsection (2) of section 308 by deleting the word and figure "VT100,000" and substituting the word and figure "VT1,000,000".

COMMENCEMENT OF THIS ACT

2. This Act shall be deemed to have come into force on the first day of January, 1997.

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