The Attorney-Generals office is in the process of revamping the companies act to be ready within two to three months time, says Attorney-General and Minister for Justice Mr Aiyaz Sayed-Khaiyum.
And according to the Minister, this means bringing in new accountability mechanism for directors and boards of statutory bodies and organizations.
While the concept is not new to the international scene as Fiji's neighbours Australia and New Zealand are primarily adopting it, Minister Sayed-Khaiyum said it would mean additional responsibilities for board members.
He adds that this is all part of Government’s plans in addressing the lack of transparency in the many statutory bodies we have in the country.