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Fiji Time: 11:02 PM on Thursday 24 April

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FCEF: Draft law a good move

Sherita Sharma
Saturday, December 08, 2012

THE draft companies decree is a positive move from government to bring in a modern legislation to Fiji at this time, says Fiji Commerce and Employers Federation chief executive Nesbitt Hazelman.

Members of the business community gathered on Wednesday to discuss the draft decree during the third and final public consultation at Novotel Conference Centre in Lami.

"I think it's a positive move in terms of modernising Fiji's legislation and bringing in a new and a more professional approach to managing companies in this country," he said.

"What is also good is that it spells out the duties of the directors and lets the directors know exactly what their purpose is. This will clear the uncertainties in the minds of many directors, as of now there are a lot of problems in finding directors to sit on boards."

He said the public consultation was an opportunity to bring various laws surrounding the Companies Act into a single legislation.

He said it would reduce strenuous bureaucratic processes that entrepreneurs experienced when starting up a business.

Mr Hazelman said the re-registering of companies with regards to names would not be a problem as there was a three-year window to implement the changes.