Penrhyn (Naharakura Lease) Facilitation Act 1992 (No. 12 of 1992).

The Act makes provisions for the validation of leases of land concerned to the Cook Islands Government Property Corporation, for the preservation of rights of owners of leased lands, for the determination of interests of successors, for the establishment of the Naharakura Development Trust and for the payment of proceeds of leases into the Trust.
The leases set out in the Schedule are confirmed provided that owners may seek adequate compensation for the alienation of rights. An application for this purpose may be made by any owner of the leased lands to the Land Division of the High Court. A copy of the deed of lease is included in the Schedule to this Act.