Search
The Laws of Fiji
Last Updated: 1 December 2016

[DAR 15] Transfer of interests15 

15
Without prejudice to the generality of the foregoing provisions of this Act, the following provisions shall have effect with relation to the transfer of instruments under the transfer instrument apply—
  • (a)any relationship, right, duty or liability of or between FCDL and any customer or supplier at the appointed time shall give rise to the same rights and the same duties (including rights of set-off) as if such relationship had been between FDL and the customer or supplier, and
  • (b)any security transferred under the transfer instrument for the payment of debts or liabilities (whether present or future, actual or contingent) of any person is transferred to FDL at the appointed date.