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Nauru Sessional Legislation |
REPUBLIC OF NAURU
NAURU PHOSPHATE ROYALTIES (PAYMENT AND INVESTMENT) ACT AMENDMENT ACT 1972
NO. 14 OF 1972
AN ACT
To vary Royalty Payments payable to certain Funds and for other purposes.
(Certified: 10/5/72)
| I HEREBY CERTIFY that the attached document is a fair print of an Act entitled the Nauru Phosphate Royalties (Payment and Investment)
Act Amendment Act, 1972 that has been made by Parliament and is now presented to the Deputy Speaker for his Certificate under Article
47 of the Constitution. | Pursuant to Article 35 (3) and 47 of the Constitution, I, IDARABABWIN VICTOR EOAEO, Deputy Speaker of Parliament, HEREBY CERTIFY that
the Nauru Phosphate Royalties (Payment and Investment) Act Amendment Act, 1972 a copy of which is attached has been passed by Parliament. |
| Clerk of Parliament 10/5/72 | Deputy Speaker 10/5/72 |
_______________
No. 14 of 1972
AN ACT
To vary Royalty Payments payable to certain Funds and for other purposes.
(Certified: 20/5/1972 )
Be it enacted by the Parliament of Nauru as follows:
SHORT TITLE AND CITATION
1. (1) This Act may be cited as the Nauru Phosphate Royalties (Payment and Investment) Act Amendment Act 1972.
(2) The Nauru Phosphate Royalties (Payment and Investment) Act 1968-1970 is in this Act referred to as the Principal Act.
(3) The Principal Act as amended by this Act may be cited as the Nauru Phosphate Royalties (Payment and Investment) Act 1968-1972.
AMENDMENT TO AMENDING ACT
2. The Nauru Phosphate Royalties (Payment and Investment) Ordinance Amendment Act 1970 is amended as follows:-
(a) in subsection (2) of Section 1 for the words "the Principal Ordinance" there shall be substituted the words "the Principal Act";
(b) in subsection (3) of Section 1 for the words "the Principal Ordinance", there shall be substituted the words, "the Principal Act".
AMENDMENTS TO PRINCIPAL ACT
3. (1) Section 11 of the Principal Act is amended as follows:-
(a) in subsection (1) for the words "the second, third and fourth columns", there shall be substituted the words, "the second, third, fourth and fifth columns";
(b) in subsection (2) for the words "the fourth column", there shall be substituted the words, "the fourth and fifth columns";
(c) in subsection (3) for the words the second third and fourth columns", there shall be substituted the words, "the second, third, fourth and fifth columns";
(d) in subsection (4) for the words "the fourth column", there shall be substituted the words, "the fourth and fifth columns";
(e) in subsection (5), for the words the second, third and fourth columns", there shall be substituted the words, "the second, third, fourth and fifth columns";
(f) in subsection (8), for the words "the fourth column", there shall be substituted the words, "the fourth and fifth columns";
(2) The First Schedule to the Principal Act is amended by deleting the whole of the Schedule and inserting the following Schedule in lieu thereof:
_______________
FIRST SCHEDULE
| Name of Fund | Amount per Ton | |||
| 1-7-68 to 30-6-69 | 1-7-69 to 30-6-70 | 1-7-70 to 30-6-72 | 1-7-72 and thereafter | |
| Long Term Investment Fund | $1.70 | $2.50 | $2.50 | $2.50 |
| Nauruan Land Owners' Royalty Trust Fund | .50 | .70 | 1.00 | 1.00 |
| Nauru Housing Fund | .80 | .80 | .50 | .05 |
| Nauru Rehabilitation Fund | .20 | .20 | .20 | .20 |
(3). The Second Schedule to the Principal Act is amended by deleting the whole of the Schedule and inserting the following Schedule in lieu thereof:
_______________
SECOND SCHEDULE
| Name of Fund | Amount per Ton | |||
| 1-7-68 to 30-6-69 | 1-7-69 to 30-6-70 | 1-7-70 to 30-6-72 | 1-7-72 and thereafter | |
| Nauru Development Fund | .60 | .75 | $1.00 | $1.30 |
| Nauru Royalty Fund | .10 | .10 | .10 | .10 |
| Nauruan Land Owners' Cash Royalty Fund | .65 | .70 | .80 | .80 |
_______________
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URL: http://www.paclii.org/nr/legis/num_act/npraiaaa1972640
