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Asian Development Bank Membership Act 2018

NIUE

ASIAN DEVELOPMENT BANK MEMBERSHIP ACT 2018

No. 344

Contents

1 Title
2 Commencement

Part 1
Preliminary matters

3 Interpretation
4 Act binds the Government

Part 2
Authorization for Membership in the Asian Development Bank

5 Authority to accept membership
6 Authority to execute and deposit instruments
7 Designated channel of communication

Part 3
Financial Provisions

8 Authority to borrow, acquire and pay
9 Authority to issue non-negotiable or non-interest bearing notes

Part 4
Incorporation of Certain Provisions into Law

10 Incorporation of certain provisions into law

Part 5
Government's Power to Carry out Obligations

11 Authority to issue directives

Part 6
General and miscellaneous provisions

12 Regulations

Schedule
Agreement Establishing the Asian Development Bank

An Act to provide for the membership of Niue to the Asian Development Bank.

The Assembly enacts as follows -

1. Title

This Act is the Asian Development Bank Membership Act 2018.

2. Commencement

This Act comes into force on the day after the date on which this Act becomes law in accordance with Article 34 of the Constitution.

Part 1

Preliminary matters

3. Interpretation

In this Act, unless the context otherwise requires,-

"ADB" means the Asian Development Bank
"the Charter" means the Agreement establishing the Asian Development Bank,

4. Act binds the Government

This Act binds the Government.

Part 2

Authorization for Membership in the Asian Development Bank

5. Authority to accept membership

Cabinet is authorized on behalf of Niue to accept membership in the Asian Development Bank (ADB) by accepting the Agreement Establishing the Asian Development Bank (the Charter) which is set out in the Schedule, and by accepting the terms and conditions of the Resolution of the Board of Governors of ADB, relating to the membership of Niue in ADB (the Resolution).

6. Authority to execute and deposit instruments

Cabinet is authorized to execute and deposit any instrument of acceptance and other documents that may be required for accepting membership in ADB.

7. Designated channel of communication

Cabinet shall designate a channel of communication as required under Article 38.1 of the Charter.

Part 3

Financial Provisions

8. Authority to borrow, acquire and pay

Cabinet is authorized to borrow or otherwise acquire, by any appropriate means, and to pay on behalf of Niue, the amounts that are payable from time to time to ADB under the terms and conditions of the Resolution and under the Charter.

9. Authority to issue non-negotiable or non-interest bearing notes

Cabinet is authorized to issue, in accordance with the Charter, any non-negotiable, non-interest bearing notes which may be necessary or appropriate in respect of Niue's membership in ADB.

Part 4

Incorporation of Certain Provisions into Law

10. Incorporation of certain provisions into law

Articles 48 through 58 of the Charter are hereby incorporated into this Act and shall have the force of law in Niue.

Part 5

Government's Power to Carry out Obligations

11. Authority to issue directives

Cabinet is authorized to issue any directives to do all things necessary to comply with the Charter and the terms and conditions of the Resolution and to carry out the obligations of Niue to ADB.

Part 6

General and miscellaneous provisions

12. Regulations

(1) Cabinet may make regulations for the purposes of this Act.

(2) In particular, regulations may be made for all or any of the following purposes -

(a) prescribing forms to be used for the purposes of this Act:
(b) providing for any other matters contemplated by this Act; necessary for its full administration, or necessary for giving it full effect.

Schedule

Agreement Establishing the Asian Development Bank

I, TOGIAVALU PIHIGIA, Speaker of the Niue Assembly, certify that the requirements of Article 34 of the Niue Constitution have been complied with.

SIGNED AND SEALED at the Assembly Chambers this 24th day of December 2018.

Speaker of the Niue Assembly

COUNTERSIGNED in the presence of the Speaker

Clerk of the Niue Assembly

This Act is administered by the Department Finance and Planning.

This Act was passed by the Niue Assembly on the 19 day of December 2018.