Leases Restrictions (Amendment) Regulations 2006.

These Regulations amend the Leases Restrictions Regulations 1977 by inserting new provisions concerning criteria to be applied by the Tribunal in a decision on any application for approval of a lease, sublease, assignment of lease or assignment of sublease to a non-resident. The criteria of assignment of lease concern citizenship of the Cook Islands, procedures regarding information to natives and consent of assembled owners resident on the island. In addition, the Act sets out the procedure where any of the owners in the land concerned opposes the transaction and sets out other conditions for approval of transactions regarding the (assignment of) lease or sublease by the Tribunal.
Schedule 1 of the principal Regulations is amended by inserting after the word “I,” and immediately before the words “hereby make” the words “a Registered Company/ Registered Foreign Enterprise”.