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Development Investment Amendment Act 1990

COOK ISLANDS

DEVELOPMENT INVESTMENT AMENDMENT ACT 1990

ANALYSIS

1. Short Title
2. New Incentives

1990, No. 14

An Act to amend the Development Investment Act 1977

(6 December 1990

BE IT ENACTED by the Parliament of the Cook Islands in Session assembled, and by the authority of the same, as follows:

1. Short Title

This Act may be cited as the Development Investment Amendment Act 1990.

2. New Incentives

Section 19 of the Development Investment Act 1977 is hereby amended by adding the following paragraph immediately before the title "Tax Incentives":

"Direct Subsidies and Incentives
An enterprise may be granted a direct subsidy or incentive payment on establishment in the Cook Islands, or in special circumstances at any time thereafter, where it can be shown that such enterprise will have significant positive economic impact in any sector of the economy."

This Act is administered by the Monetary Board

RAROTONGA, COOK ISLANDS: Printed under the Authority of the Cook Islands Government, T. KAPI, Government Printer - 1990.