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Fiji Electricity Authority Guarantee Promulgation 2009

REPUBLIC OF FIJI ISLANDS
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INTERIM GOVERNMENT OF THE REPUBLIC OF THE FIJI ISLANDS
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FIJI ELECTRICITY AUTHORITY GUARANTEE PROMULGATION
(PROMULGATION NO. 3 OF 2009)

IN EXERCISE of the powers conferred upon the Interim Government, and upon the exercise of my own deliberate judgment as President of the Republic of the Fiji Islands as to what is best and good for the people of Fiji, and by the executive authority of the State in accordance with section 85 of the Constitution and such other powers as may appertain, and with the advice of Cabinet, I, Josefa Iloilovatu Uluivuda make this Promulgation-

Short title

1. This Promulgation may be cited as the Fiji Electricity Authority Guarantee Promulgation.

Government Guarantee

2.-(1) The Government of the Republic of the Fiji Islands shall guarantee the repayment by the Fiji Electricity Authority of a loan of three hundred and thirty million Fiji dollars as approved by Cabinet on 28th July 2008.

(2) The approval for the guarantee of borrowings by the Fiji Electricity Authority granted under subsection (1) shall be valid for a period of one year from the 31st of December 2008.

Issue of guarantee

3. The guarantee issued under section 2 above shall be evidenced by an instrument or instruments in writing under the hand of the Minister responsible for finance.

Given under my hand this 16th day of January 2009.

J. I. ULUIVUDA
President of the Republic of the Fiji Islands

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