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Cook Islands Investment Corporation Amendment Act 2000

COOK ISLANDS

COOK ISLANDS INVESTMENT CORPORATION AMENDMENT ACT 2000

ANALYSIS

Title
1. Short Title
2. Objectives of the Corporation

2000, No. 19

An Act to amend the Cook Islands Investment Corporation Act 1998

(1st December 2000)

1. Short Title

This Act may be cited as the Cook Islands Investment Corporation Amendment Act 2000 and shall be read together with and deemed part of the Cook Islands Investment Corporation Act 1998 (the principal Act).

2. Objectives of the Corporation

Section 6 of the principal Act is amended by deleting paragraph (c) and substituting the following paragraph —

"(c) not to compete or be engaged in trading activities unless -

• (i) private enterprise is unable or unwilling to do so; or
• (ii) in the opinion of the Board, it is in the public interest that -
  • (a) the trading activity be provided on a reliable and sustainable basis; and
  • (b) the trading activity be engaged in fairly and equitably."
    

This Act is administered by the Cook Islands Investment Corporation

RAROTONGA, COOK ISLANDS: Printed under the authority of the Government of the Cook Islands — 2000.