Source document: https://docs-lawep.s3.us-east-2.amazonaws.com/1698136400037.pdf (Marshall Islands)
State-Owned Enterprises (Amendment) Act, 2020.

BILL No: 1 4N D1P .L.2020- il _lndex NITIIELA OF THE REPUBLIC OF THE MARSHALL ISLANDS 41ST CONSTITUTION REGULAR SESSION, 2O2O Republic of the Marshall Islands lepilpilinKe Ejukaan STATE-OWNED ENTERPRISES (AMENDMENT) ACT, 2020.

Index Section s101.

s102.

s103.

&Reoublic of the ffiMdrshall Islands Pagel lndexBlll No:14ND1P.L.2020-U State-Owned Enterprises (Amendment) Act, 2020.
Page2 Reoublicofthe C& Mdrshall Islands\ffi State-Owned Enterprises (Amendment) Act, 2020.

BILL No:14N D1P .L.2020- I I _s101 NITIIELA OF THE REPUBLIC OF THE MARSHALL ISLANDS 41ST CONSTITUTION REGULAR SESSION, 2O2O Republic of the Marshall Islands Jepilpilin Ke Ejukaan STATE-OWNED ENTERPRISES (AMENDMENT) ACT, 2020.

AN ACT to amend Title 52 of the MIRC Chapter 6 on appointment of Members of the Board of Directors for Minister to appoint not more than one public official.
BE IT ENACTED BY THE NITIIELA OF THE REPUBLTC OF THE MARSHALL ISLANDS 5101.

Short title.

This Act may be cited as the State-Owned Enterprises (Amendment) Act, 2020.. 5102.

Amendment.

Section 51.8 of the State-Ontned Enterprises Act of 20L5 is hereby amended to read as follorns: :::t (3) (4) Directors-appointment and qualifications.
The Minister may appoint a public official to be a director of a State owned enterprise by merits, at least one (1) but not more than three (3) public officials with the approval of the Cabinet whose experience, education and qualifications shall have significant contributions to the economic and general well-beings of the people of the Republic' The Cabinet is to appoint 1 of the directors of a State-owned enterprise to be Chairperson of the Board of the State-owned Reoublic of the Mdrshall Islands Page3 BILL No: 1 4N D1P.L.2020- ll _s618 State-Owned Enterprises (Amendment) Act, 2020. enterprise.
The directors must appoint one (1) amongst the number to be the Deputy Chairman.

(5) Anything done by or in relation to a person purporting to act under an appointment as director of a State-owned enterprise is not invalid merely because: \ (a) the occasion for the appointment had not arisen; or (b) there was a defect or irregularity in connection with the appointment; or (c) the appointment had ceased to have effect; or (d) the occasion to act had not arisen or had ceased.

5619.
5619.

Period of office for directors.

*** (3) A (4) (5) director of a State-owned enterprise ceases to hold office immediately if he or she: (a) is convicted or found guilty of an offence punishable by imprisonment of L2 months or more; (b) is convicted or found guilty of an offence involving dishonesty; or (c) is, in any jurisdiction, disqualified from acting as a director of a body corporate under a law relating to companies.
The Minister may, at any time, by written instrumenf remove a director of a State-owned enterprise from office for any reason.

The Minister must table in the Nitijela notice of each appointment of a director of a State-owned enterprise, and of a director ceasing to hold office as a director of a State-owned enterprise.

The notice must be tabled within L5 sitting days after the event to which it relates occurs.

Page4 Reoublic of the Mdrshall Islands State-Owned Enterprises (Amendment) Act, 2020.

5103.
5103.

Effective Date.

BILL No: 1 4N D1P.L.2020- l/ _s103 This Act shall come into effect on the date of certification Article IV, Section 2'1., of the Constitution and Rules of Nitijela.

in accordance with Procedures of the CERTIFICATE That Nitijela Bill No: 14ND1 was passed by the Nitijela of the Republic of the I hereby certify: 1.

Marshall Islands on the t t y day of 2.


That I am satisfied that Nitijela Bill No: 14ND1 was passed in accordance with the relevant provisions of the Constitution of the Republic of the Marshall Islands and the Rules of Procedures of the Nitijela.

,, I hereby place my signature before the C1erk tt'ris f & day of J*n- 2020; and, 2020. f t Attest: Nitijela of the Marshall lslands Nitijela of the Marshall lslands Reoublic of the Mdrshall Islands Page5