Development Bank of Samoa Act 2010.

An Act to continue the Development Bank of Samoa established under the Development Bank Act 1974 and to provide for the functions, powers, and duties of the Bank under modern and reformed arrangements, and for related purposes.

https://www.fao.org/faolex/results/details/en/c/LEX-FAOC108873

Resource information

Resource Language

anglais

ISBN / Resource ID

LEX-FAOC108873

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This Act provides for the continuation of the Development Bank of Samoa as a body corporate, defines its functions and powers and provides with respect to its functioning and operations.The principal functions of the Bank shall be to promote the expansion of the economy of Samoa for the economic and social advancement of the people of Samoa by, among other things: making loans and giving financial, technical, and advisory assistance in its discretion to any enterprises in Samoa; undertaking or participating in infrastructure developments; and entering into partnerships by way of joint venture, agency relationships or any other means approved. The Bank may, among other things, buy, lease, or otherwise acquire, hold, manage, improve, or develop any real and personal property and sell, let, mortgage, charge, or otherwise deal with or dispose of any of its property. The Bank may hold security over land to secure debts owed to it.

Repeals: Development Bank Act 1974. (2008)

Legislation