This Act amends the RONWAN Distribution Act with respect to, among other things, the Winding Up of the Nauruan Land Owners Royalty Trust Fund and the administration by the Nauru Rehabilitation Corporation of the Long Term Investment Fund established pursuant to S. 62(1) of the Constitution. This Act also amends the Nauru Rehabilitation Corporation Act 1997, the Nauru Phosphate Royalties Trust Act 1968 and the Nauru Phosphate Royalties (Payment and Investment) Act 1968. It also concerns some administrative matters of the Nauru Phosphate Royalties Trust (NPRT). The Nauru Phosphate Royalties Trust (NPRT) was a sovereign wealth fund developed by the government of the Republic of Nauru in which the government invested money from the state owned mining company, Nauru Phosphate Corporation. This money was then re-invested in a real estate portfolio, among other things, to provide the government with a reliable national income following the depletion of minable phosphates on the island.
Authors and Publishers
temp
PacLII stands for the Pacific Islands Legal Information Institute. It is an initiative of the University of the South Pacific School of Law with assistance from AustLII. PacLII is a signatory to the Montreal Declaration on Public Access to Law and participates in the Free Access to Law movement, (FALM) a grouping of a number of world wide organizations committed to publishing and providing access to the law for free.
Data provider
FAO Legal Office (FAOLEX)
The FAO Legal Office provides in-house counsel in accordance with the Basic Texts of the Organization, gives legal advisory services to FAO members, assists in the formulation of