27 August 2011
East Timor parliament approves change to Oil Fund Law
East Timor Legal News Source Macauhub AUGUST 26TH, 2011 Dili, East Timor, 26 Aug – The East Timor parliament Tuesday approved the first change to the country’s Oil Fund Law to allow greater flexibility and return on investments.
The change to the law approved by 34 votes in favour, three against and two abstentions, according to the document for the change of law to which Portuguese news agency Lusa had access.
“The current law aims to change the rules and principles of investment, allowing greater flexibility in terms of diversification of the portfolio of applications in order to increase, in the future, return on investments,” the document said. (macauhub)