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The Laws of Fiji
Last Updated: 1 December 2016

[ROF 3] Object of the Act3 

3
(1) The object of this Act is to ensure the viability, sustainability and development of the designated company, and to protect the administration, control and management of Fiji Forest Industries Limited and the designated company.
(2) The Act achieves this object by—
  • (a)providing for the cancellation of shares held in Fiji Forest Industries Limited held by any person other than those shares held by the designated company, which cancellation is caused by the failure to provide consideration for transfer of such shares and in breach of the Memorandum and Articles of Association of the designated company;
  • (b)providing for the vesting or transfer of such shares in Fiji Forest Industries Limited to the designated company; and
  • (c)providing for the transfer of all property acquired by any person using the funds of the Fiji Forest Industries Limited, from any such person to Fiji Forest Industries Limited.