Public Treasury (Administration and Payments) Amendment Act 2002
PUBLIC TREASURY (ADMINISTRATION AND PAYMENTS)
AMENDMENT ACT 2002

1989 Revision 1

BERMUDA
2002 : 3

PUBLIC TREASURY (ADMINISTRATION AND PAYMENTS)
AMENDMENT ACT 2002

[Date of Assent: 18 March 2002]

[Operative Date: 18 March 2002]

WHEREAS it is expedient to amend the Public Treasury
(Administration and Payments) Act 1969:

Be it enacted by The Queen's Most Excellent Majesty, by and
with the advice and consent of the Senate and the House of Assembly of
Bermuda, and by the authority of the same, as follows:

Citation
1 This Act may be cited as the Public Treasury (Administration and
Payments) Amendment Act 2002.

Inserts new section 10B in Act No. 666 of 1969
2 The Public Treasury (Administration and Payments) Act 1969 is
amended by inserting next after section 10A the following new section—

"Unemployment Insurance Fund

10B (1) The Minister shall establish a fund to be called
the Unemployment Insurance Fund (in this section
referred to as "the Insurance Fund") into which he shall
pay such sums of money as have been set aside in the
Consolidated Fund for that purpose.

(2) The Minister shall pay into the Insurance Fund
any amounts which may be authorized by the

PUBLIC TREASURY (ADMINISTRATION AND PAYMENTS)
AMENDMENT ACT 2002

2 1989 Revision

Legislature from time to time as Government's
contribution to the Insurance Fund.

(3) The moneys paid into the Insurance Fund shall
be invested in accordance with the Public Funds Act
1954 and the interest earned on such investments shall
be paid into the Insurance Fund.".