Development Investment Act 1995-96.

This Act lays down provisions on the establishment, functions and powers of the Business Trade and Investment Board; regulation of foreign enterprises; appointment and composition of an Appeal Commission; investment priorities, incentives and concessions; obligations of every enterprise registered as a foreign enterprise and every enterprise in receipt of a concession, incentive or benefit; enforcement, offences and penalties. The objectives of the Board are listed in Section 15, as follows: (I) to promote, foster and assist the establishment of investment generally in the Cook Islands; (II) to encourage and advise the private sector in order to make the best sustainable use of resources consistent with national development and investment policies; (III) to promote, coordinate and facilitate trade to, from and within the Cook Islands; (IV) to regulate, monitor and control the direction, extent and scope of foreign investment in the Cook Islands; (V) to encourage and facilitate the participation of Cook Islanders in investment and in the ownership, management and control of investment and business; and (VI) to provide and facilitate training in business related skills as well as provide advisory and other business services to encourage and assist Cook Islanders in business development.