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Economic Development Board (Amendment) Act 1986

FIJI

ECONOMIC DEVELOPMENT BOARD (AMENDMENT) ACT 1986

ACT No. 34 OF 1986

I assent.

[L.S.]

P. K. GANILAU
Governor-General

16th December 1986

AN ACT

TO AMEND THE ECONOMIC DEVELOPMENT BOARD ACT, 1980

Act No. 11 of 1980

ENACTED by the Parliament of Fiji-

Short title, etc.

1.-(1) This Act may be cited as the Economic Development Board (Amendment) Act, 1986, and shall come into force on a date to be notified by the Minister in the Gazette.

(2) In this Act, “principal Act” means the Economic Development Board Act, 1980.

Long title replaced

2. The long title of the principal Act is repealed and replaced by the following long title-

“TO ESTABLISH THE FIJI TRADE AND INVESTMENT BOARD TO PROMOTE STIMULATE AND FACILITATE TRADE AND INVESTMENT IN FIJI AND FOR PURPOSES CONNECTED THEREWITH”.

Sections 1, 2 and 3 amended

3. The principal Act is amended by repealing the words “Economic Development Board” and replacing them by the words “Fiji Trade and Investment Board” in-

(a) section 1;

(b) the definition of “Board” in section 2;

(c) section 3(1).

Section 4 replaced

4. Section 4 of the principal Act is repealed and replaced by the following section-

"Composition of Board and procedure at meetings

4.-(1) The Board shall be comprised of ten members, all of whom shall be appointed by the Minister.

(2) Members of the Board shall hold office for such terms not exceeding 2 years as the Minister may determine but shall be eligible for re-appointment.

(3) The Minister shall appoint one of the members to be Chairman and one of the members to be Deputy Chairman of the Board.

(4) If for any reason the Chairman is absent or unable to act or the office of Chairman is vacant, the Deputy Chairman may exercise all or any of the powers conferred upon or perform all or any of the duties imposed on the Chairman under this Act.

(5) The Board shall meet whenever necessary but in any event not fewer than twelve times in each calendar year.

(6) Six members of the Board shall form a quorum.

(7) If any member of the Board fails throughout a period of three consecutive months to attend any meeting of the Board he shall, unless the failure was due to some reason approved by the Minister, cease to be a member of the Board.

(8) The Chairman or in his absence the Deputy Chairman shall preside at all meetings of the Board.

(9) If both the Chairman and the Deputy Chairman are absent from any meeting of the Board the members present at such meeting shall elect one of their number to act as Chairman at such meeting.

(10) The decisions of the Board shall be by a majority of votes and in any case in which the voting is equal the person presiding at the meeting shall have and shall exercise a casting vote.

(11) The Board may co-opt any one or more persons to attend any particular meeting of the Board for the purpose of assisting or advising the Board, but no such co-opted member shall have the right to vote nor shall any such co-opted member be deemed to be a member of the Board for the purpose of constituting a quorum under subsection (6).

(12) Subject to the provisions of this Act, the Board may regulate its own procedure.".

Section 5 amended

5. Section 5 of the principal Act is amended by -

(a) repealing the words "the economic development of Fiji" and replacing them by the words "trade and investment in Fiji" in-

(i) subsection (1); and

(ii) subsection (2)(e);

(b) repealing the words “economic development” and replacing them by the words “trade and investment” in subsection (2)(f).

Transitional

6. The provisions of the Schedule shall apply to the transfer of property from the Economic Development Board to the Fiji Trade and Investment Board and to such other matters as are contained therein.

SCHEDULE
(Section 6)
__________

TRANSFER OF PROPERTY RIGHTS AND LIABILITIES TO THE FIJI TRADE AND
INVESTMENT BOARD

1. In this Schedule -

"appointed day" means the date notified by the Minister in the Gazette pursuant to section 1(1) as being the date upon which this Act shall come into force;

"new Board" means the Fiji Trade and Investment Board established by this Act;

"old Board" means the Economic Development Board established by the principal Act.

2. On the appointed day the old Board shall be dissolved.

3. All real and personal property which immediately before the appointed day was vested in or belonged to the old Board is hereby vested in the new Board without conveyance, transfer or assignment and, subject to the provisions of this Act, shall be held by the new Board for the same purposes as it was held immediately before the appointed day.

4. The person charged with the keeping of any register, on the written request of the new Board, and on payment of the appropriate fee, shall make such entries in his register and on any outstanding documents of title and generally do all such things as may be necessary to give effect to this Schedule.

5. All rights, obligations and liabilities which immediately before the appointed day were vested in or imposed on the old Board shall be deemed to be the rights, obligations and liabilities of the new Board.

6. All references to the old Board in any Act, regulation, order or other written law or in any agreement, deed, instrument, application, notice or other document whatsoever shall, unless the context otherwise requires, be read as references to the new Board.

Passed by the House of Representatives this twenty-sixth day of November, in the year of our Lord one thousand, nine hundred and eighty-six.

Passed by the Senate this eleventh day of December, in the year of our Lord one thousand, nine hundred and eighty-six.

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