A new Era for Companies in Fiji: Companies Act Essentials
AFBC Member, PLN Advisory gives us a great overview of Fiji Companies Act 2015 (Companies Act).
— By PLN Advisory
The much anticipated Fiji Companies Act 2015 (Companies Act) came into effect from 1 January 2016 and as a number of companies concluded their financial year last week, it is interesting to see how the workings of the Act have transitioned so far into the day-to-day operations of companies in Fiji. This Act draws on the Australian Corporations Act 2001 (Cth) bringing in modern business practices and streamlining regulation within Fiji while also improving corporate governance measures and ensuring accountability from company directors and officers.
Overall the Companies Act lays a great foundation to pave the way forward for companies in Fiji. As policy frameworks in other areas continue to be developed and reviewed, we are hopeful that further reforms such as the digitisation of the Registrar of Companies records and the implementation of a secured transactions regime will follow suit to complement the new Companies Act. This will further improve the ease of doing business in Fiji and make it an even more attractive investment destination for foreign investors. Read more.
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