Home | Databases | WorldLII | Search | Feedback Fiji Sessional Legislation

  Download original PDF

Fiji Electricity Authority Loan Guarantee Decree (No. 2) 1991

GOVERNMENT OF THE SOVEREIGN DEMOCRATIC REPUBLIC OF FIJI

FIJI ELECTRICITY AUTHORITY LOAN GUARANTEE DECREE (NO. 2), 1991

DECREE NO. 15

A DECREE TO AUTHORISE THE GOVERNMENT TO GUARANTEE THE REDEMPTION BY THE AUTHORITY OF A PUBLIC BOND TO BE ISSUED BY THE FIJI ELECTRICITY AUTHORITY TOTALLING FIFTY MILLION DOLLARS ($50,000,000) AND MATTERS ANCILLARY THERETO

IN exercise of the powers vested in me and pursuant to section 5 of the Constitution of the Sovereign Democratic Republic of Fiji (Promulgation) Decree, 1990 and as amended by section 2 of the Constitution of the Sovereign Democratic Republic of Fiji (Promulgation) Decree 1990 (Amendment No. l) Decree. 1990, I as the person appointed to perform the functions of the office of the President of the Republic of Fiji and acting in accordance with the advice of the Prime Minister and the Cabinet, hereby make the following Decree:

Short title

1. This Decree may be cited as the Fiji Electricity Authority Loan Guarantee Decree, 1991.

Interpretation

2. In this Decree, unless the context otherwise requires:

"Government" means the Government of the Sovereign Democratic Republic of Fiji:
"Authority" means the Fiji Electricity Authority established under the provisions of Section 3 of the Electricity Act (Cap. 180).

Government to guarantee issuance of bond

3. The Government is authorised to guarantee the redemption by the Authority of a public bond to be issued by the Fiji Electricity Authority totalling fifty million ($50,000,000) dollars to be offered at maturities ranging up to fifteen (15) years at interest rates to be determined on a tender bases.

Guarantee to be evidence by instrument

4. The guarantee authorised under Section 3 above shall be evidence by an instrument given under the hand of the Minister responsible for finance.

Made this 26th day of April 1991.

INOKE TAKIVEIKATA
Person appointed to perform the
functions of the office of the President