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Nauru Phosphate Royalties (Payment and Investment) (Amendment) Act 2011

REPUBLIC OF NAURU
Nauru Phosphate Royalties (Payment and Investment) (Amendment) Act 2011


Act No. 21 of 2011


Contents


1 Short title
2 Commencement
3 Amendment of Act
SCHEDULE – AMENDMENT OF ACT


______________________________


An Act to amend the Nauru Phosphate Royalties (Payment and Investment) Act 1968


Certified on 20 December 2011


Enacted by the Parliament of Nauru as follows:


1 Short title


This Act may be cited as the Nauru Phosphate Royalties (Payment and Investment) (Amendment) Act 2011.


2 Commencement


This Act commences on certification.


3 Amendment of Act


The Schedule amends the Nauru Phosphate Royalties (Payment and Investment) Act 1968.


____________________


SCHEDULE – AMENDMENT OF ACT


section 3


[1] Amendment of section 11


1.1 Section 11(3)(a)


omit

and thirteenth columns and fourteenth columns

substitute

, thirteenth, fourteenth or fifteenth column


1.2 Section 11(4)(b) and (5)


omit (all references)

and thirteenth columns and fourteenth columns

substitute

, thirteenth, fourteenth and fifteenth columns


[2] Amendment of Second Schedule


Second Schedule, after column 14


insert


(15)
$
$
If the price at which the phosphate is sold is:

(a) $120 per tonne or more – $14.00; or

(b) less than $120 per tonne – $12.00.


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URL: http://www.paclii.org/nr/legis/num_act/npraia2011619