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Protected Industries (Amendment) Act 1985

REPUBLIC OF KIRIBATI
(No. 7 of 1985)

I assent,

(President I. Tabai)
Beretitenti

10/7/1985

AN ACT TO AMEND THE PROTECTED INDUSTRIES ORDINANCE (CAP. 78)

Commencement: 1985

MADE by the Maneaba ni Maungatabu and assented to by the Beretitenti.

Short Title

1. This Act may be cited as the Protected Industries (Amendment) Act 1985.

Interpretation

2. In this Act, unless the context otherwise requires –

"the Commission" means the Foreign Investment Commission established under the Foreign Investment Act 1985;

"enterprise" means enterprise as defined in the Foreign Investment Act 1985;

"foreign enterprise" means a foreign enterprise as defined in the Foreign Investment Act 1985;

"foreign investment" means foreign investment as defined in the Foreign Investment Act 1985.

Amendment to section 3 of Cap. 78

3. Section 3 of the Protected Industries Ordinance is amended by inserting after –

(a) "Cabinet" the following –

"or the Commission in any case where it is empowered to declare any foreign investment to be a protected industry under the Foreign Investment Act 1985 and a foreign enterprise whose foreign investment has been approved by the Commission under the said Act, is involved"; and

(b) "he" the following:

"or the Commission as the case may be".

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PROTECTED INDUSTRIES (AMENDMENT) ACT 1985

EXPLANATORY MEMORANDUM

1. The principal object of this Act is to amend section 3 of the Protected Industries Ordinance in order to harmonize it with Clause 11(4)(c) of the Foreign Investment Act 1985 which purports to empower the Commission to be established under that Act to be able to declare any foreign investment or business being or to be carried on by any foreign enterprise in Kiribati.

2. Section 3 of the Protected Industries Ordinance empowers the Cabinet and the Beretitenti only to declare any business including foreign investment by any foreign enterprise or company to be a protected industry. The proposed amendment seeks to empower the Commission to do the same but only in respect of any business or foreign investment being or to be carried on in Kiribati which the Commission approves or has approved under the Foreign Investment Act 1985.

3. Clause 3 of the Act provides for that said power of the Commission.

4. The amendment is considered desirable in the interest of orderly, uniform and speedy procedures for the processing by the Commission of application and approval for foreign investment in Kiribati.

Michael Neaua Takabwebwe
Attorney General