This Act provides for the constitution of the Tonga Development Bank as a corporation and defines its functions, powers and rules of internal organization. The functions of the Bank are to promote the expansion of the economy of Tonga for the economic and social advancement of the people of Tonga by giving financial and advisory assistance in its discretion to any enterprise operating or about to operate in Tonga. The Minister may, with the consent of Cabinet, issue to the Board written policy directives necessary to give effect to the achievement of statutory objectives of the Bank and make Regulations for giving effect to this Act or for the conduct of the business of the Bank. The Bank may, among other things, provide agricultural extension services to private enterprises.
Tonga · 2014-08-20