Laws of tuvalu


Commencement [1st May 1981]



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Commencement [1st May 1981]
1 Short title
This Ordinance may be cited as the National Bank of Tuvalu (Insurance Fund) Ordinance.
2 Commencement
This Ordinance shall come into operation on 1st May 1981.
3 Interpretation
In this Ordinance, unless the context otherwise requires —
"the Bank" means the National Bank of Tuvalu established by the National Bank of Tuvalu Ordinance;
Cap. 58
"the Board" means the Board of Directors of the National Bank of Tuvalu:
"excess" means the excess fixed in accordance with section 5 (1);
"financial year" means a financial year of the Bank;
"the Fund" means the National Bank of Tuvalu (Insurance) Fund
established by section 4;
"the Minister" means the Minister of Finance;
"the premium" means the premium fixed in accordance with section 5 (1);
"relevant loss", in relation to the Bank, means the amount of any financial loss sustained by the Bank which the Government is liable under this Ordinance to make good.



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