The Laws of Fiji
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Last Updated: 1 August 2020
[IT 17,665] Effect of final approval18
18
- (a)in relation to the building of a new private hospital, the first day of commercial operation of the private hospital; and
- (b)in relation to the extension of an existing hospital or any renovation or refurbishment, the date that final approval is granted,
or such other date as the Minister may specify.
[subreg (1) subst LN 115 of 2016 reg 4, effective 30 December 2016]
(2) The company is not entitled to claim the benefits of a medical investment package in any year unless it has been granted final approval and the Minister is satisfied that the shareholders of the company are substantially the same as the shareholders of the company when provisional approval was granted.
(3) For the purposes of subregulation (2), the shareholders of the company shall be deemed not to be substantially the same as the shareholders on the date when provisional approval was granted unless—
- (a)not less than 51% of the voting power in and the right to receive dividends from the company is held by or on behalf of the same persons; or
- (b)not less than 50% of the nominal value of the allotted shares in the company are held by or on behalf of the same persons.
(4) Notwithstanding subregulations (2) and (3), the company may, in writing, apply for exemption from those regulations to the Minister who may grant or refuse to grant the exemption.