- Laws of Fiji

[COMC 10,020] Calculation of annual regulated revenue or monthly volume of sale4

(1) A regulated entity must, as the case may be—

(a)within 3 months after the end of its financial year, lodge with the Commission—
- (i)a return of the annual regulated revenue of the regulated entity for that financial year; and
- (ii)a statement showing a calculation of the regulatory fee in respect of the annual regulated revenue of the regulated entity as set out in the return; or
(b)within 10 days after the end of the month, lodge with the Commission—
- (i)a return of the monthly volume of sale of the regulated entity for that month; and
- (ii)a statement showing a calculation of the regulatory fee in respect of the monthly volume of sale of the regulated entity as set out in the return.

[subreg (1) subst LN 112 of 2022 reg 4, effective 1 January 2020]

(2) The return specified in subregulation (1)(a) or subregulation (1)(b) must include a certificate signed—

(a)in the case of a regulated entity that is not a company, by a person authorised by the regulated entity to do so on behalf of the regulated entity; or
(b)in the case of a regulated entity that is a company, in accordance with section 53 of the Companies Act 2015,

stating that the return is accurate in all respects.

[subreg (2) am LN 112 of 2022 reg 4, effective 1 January 2020]

(3) If a regulated entity is unable to lodge a return within the 3-month period specified in subregulation (1)(a), the regulated entity must lodge a provisional return within the same 3-month period provided the regulated entity—

(a)clearly identifies the return as a provisional return; and
(b)submits a final return within 6 months after the end of its financial year.

[subreg (3) am LN 112 of 2022 reg 4, effective 1 January 2020]

(3A) If a regulated entity is unable to lodge a return within the 10-day period specified in subregulation (1)(b), the regulated entity must lodge a provisional return within the same 10-day period provided the regulated entity—

(a)clearly identifies the return as a provisional return; and
(b)submits a final return within 15 days after the end of the month.

[subreg (3A) insrt LN 112 of 2022 reg 4, effective 1 January 2020]

(4) Where 2 or more regulated entities are companies that are associated with each other in accordance with the Companies Act 2015, and the Commission is of the view that the companies should be treated as a single entity for the purpose of the assessment of the regulatory fee, the Commission may require the regulated entities to lodge a consolidated return and statement in accordance with subregulation (1), in addition to any requirement to lodge individual returns and statements.

[subreg (4) am LN 112 of 2022 reg 4, effective 1 January 2020]

(5) A regulated entity which, in a return, fails to report or makes a false representation of the annual regulated revenue or monthly volume of sale, commits an offence.

[subreg (5) am LN 112 of 2022 reg 4, effective 1 January 2020]

[reg 4 am LN 112 of 2022 reg 4, effective 1 January 2020]