Australian Law Firm Minter Ellison is in the country this week to carry out public consultations as part of the Government’s plan to comprehensively review and reform the Companies Act (Cap.247), the Registration of Business Names Act (Cap.249), and related laws and regulations.
The team has so far met representatives from the Fiji Chamber of Commerce, the Capital Markets Unit of the Reserve Bank and the South Pacific Stock Exchange. They will be holding talks throughout this week with the Institute of Accountants, the Fiji Employers’ Association, and other stakeholders. A total of 15 representative organizations have registered their interest in attending the consultations which are being held on the 5th Floor of the Attorney-General’s Chambers.
Minter Ellison consultant Bruce Cowley said, “We had some very positive and interesting discussions with various stakeholders who have suggested some useful proposals for changes to the Company law”.
Mr Cowley also stressed that Fiji would need to produce modern and transparent laws in this area of reform to encourage investment in capital marketing in Fiji, to make doing business easier and to reduce unnecessary red tape.
The Attorney-General, Mr Aiyaz Sayed-Khaiyum also said that “the review of the companies act and related laws was part of the Government’s initiative and policy to review and reform the laws of Fiji and align them with international standards.”
Those members of the public interested in contributing to the review have until the 31st March 2010 to make written submissions to the Permanent Secretary for Justice, 1st Floor, Suvavou House.
Copies of the Issues Paper for the reform of Fiji’s company’s law can also be obtained by contacting the Permanent Secretary for Justice.
The team will be in the country until the 12th of this month.