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Government Borrowing Promulgation 2007

REPUBLIC OF FIJI

REPUBLIC OF THE FIJI ISLANDS

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GOVERNMENT BORROWING PROMULGATION 2007

(PROMULGATION NO. 7 OF 2007)

IN exercise of the powers conferred upon the Interim Government by virtue of the Interim Government Promulgation 2006 to make laws for the peace, order and good Government of Fiji;

AND UPON the exercise of my own deliberate judgment as President of the Republic of the Fiji Islands as to what is best interest and good for the beloved peoples of the Fiji Islands;

AND UPON the exercise of the Executive Authority of the State;

I, Josefa Iloilovatu Uluivuda, on the advice of Cabinet, make this Promulgation-

TO PROVIDE FOR GOVERNMENT BORROWING FOR 2007 IN SUBSTITUTION FOR THE AMOUNT APPROVED IN 2006 BY THE HOUSE OF REPRESENTATIVES

Short title and commencement

1. This Promulgation maybe cited as the Government Borrowing Promulgation 2007, and comes into force on 1 January 2007.

Government borrowing for 2007

2. This section authorises the Minister responsible for Finance to borrow on behalf of the State by raising loans not exceeding $371, 045,100 for 2007 in total far the following purposes-

(a) meeting loan repayments for loans raised prior to 2007 and falling due for redemption in part or in whole during 2007;

(b) conversion of maturing loans issued under the authority of this resolution;

(c) conversion of outstanding treasury bills into loans; and

(d) funding the costs of any expenditure for implementation of the above purposes in 2007.

2006 Resolution Revoked

3. The amount approved in 2006 by the House of Representatives for Government borrowing for 2007 is substituted by this Promulgation.

Given under my hand this 2nd day of March 2007.

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

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