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The Laws of Fiji
Last Updated: 16 October 2023

[LD 11] Power to issue stock etc11 

11
(1) The Authority may from time to time, with the approval of the Minister, borrow money by the issue of bonds, debentures or debenture stock, or raise capital by the issue of shares or stock of such class and value and upon such terms as it may deem expedient, for all or any of the following purposes—
  • (a)the provision of working capital;
  • (b)the fulfilling of the duties of the Authority under this Act;
  • (c)the fulfilling of such additional functions as may be undertaken by the Authority under this Act;
  • (d)the redemption of any shares or stock which it is required or entitled to redeem;
  • (e)any other expenditure properly charged to capital account.

[subs (1) am LN 112 of 1970 O 82, effective 8 October 1970]

(2) The Authority may make rules not inconsistent with the provisions of this Act to provide for such matters in connection with shares, stock, bonds, debentures or debenture stock issued under this Act as may appear necessary or expedient to the Authority, and, in particular, for regulating the method of issue, transfer, redemption or other dealing with such shares, stock, bonds, debentures or debenture stock.