AN ACT TO PROVIDE FOR THE RESTRUCTURING OF THE NATIONAL BANK OF FIJI AND, IN PARTICULAR, TO PROVIDE FOR—

• (A)THE CONTINUATION OF THE BANK AS A BANK OFFERING PERSONAL BANKING SERVICES;
• (B)THE ESTABLISHMENT OF AN NBF ASSET MANAGEMENT BANK WHOSE FUNCTION IS TO DISPOSE OF, OVER AN APPROPRIATE PERIOD OF TIME, ALL ASSETS AND LIABILITIES TRANSFERRED TO IT UNDER THIS ACT;
• (C)THE TRANSFER INTO THE NBF ASSET MANAGEMENT BANK OF ALL ASSETS AND LIABILITIES OF THE NATIONAL BANK OF FIJI OTHER THAN THOSE APPROPRIATE FOR A PERSONAL BANK;
• (D)AN ASSESSMENT IN 1998 OF THE COMMERCIAL VIABILITY OF THE NATIONAL BANK OF FIJI AND, IF THEN APPROPRIATE, THE REGISTRATION UNDER THE COMPANIES ACT (Cap. 247) OF A COMPANY OWNED BY THE STATE, AND THE TRANSFER OF THE BANK'S UNDERTAKING TO THE COMPANY;
• (E)THE REPORTING AND OTHER ACCOUNTABILITY REQUIREMENTS OF THE NATIONAL BANK OF FIJI, THE NBF ASSET MANAGEMENT BANK AND THE COMPANY;
• (F)THE CONTINUATION OF THE STATE'S GUARANTEE OF ALL DEPOSITS WITH THE NATIONAL BANK OF FIJI, THE PROVISION OF AN EQUIVALENT GUARANTEE IN RESPECT OF DEPOSITS WITH THE NBF ASSET MANAGEMENT BANK, AND THE PERFORMANCE OF THE STATE'S OBLIGATIONS UNDER THE LATTER GUARANTEE.