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Public Law No. 19-67.

Country/Territory
Micronesia, Fed. States
Document type
Legislation
Date
2016
Source
FAO, FAOLEX
Long title
An Act to amend sections 1202, 1204, 1211, 1213, 1214, 1215, 1216, 1217 and 1222 of title 55 of the Code of the Federated States of Micronesia (Annotated), as amended by Public Laws Nos. 18-74 and 18-119, to update and improve the functionality of the FSM Trust Fund, and for other purposes.
Subject
Agricultural & rural development
Keyword
Agricultural development Special fund Governance
Geographical area
Asia and the Pacific, Micronesia, Oceania, Small Island Developing States, South Pacific
Abstract

This Act amends Title 55 of the Code of the Federated States of Micronesia with respect to the Trust Fund of the FSM. It provides for restructuring of the Fund and divides the Fund into Account A and Account B. The purpose of the Account A and Account B portion of the Fund is to create a disciplined approach to ensure the protection of the Fund’s Real Value into perpetuity while providing a sustainable source to supplement the needs of the General Fund. All contributions to the Fund shall be deposited in Account A. Account B shall serve as a back-up account for Account A.

Full text
English
Website
www.fsmcongress.fm

References - Legislation

Amends

Chapter 12 of Title 55 of the Code of Federated States of Micronesia - FSM Trust Fund Act.

Legislation | Micronesia, Fed. States | 1999 (2001)

Keyword: Agricultural development, Institution, Special fund

Source: FAO, FAOLEX