- Laws of Fiji

Last Updated: 16 October 2023

[TF 13] Annual statements13

(1) The Board shall, before 1 December in every financial year, submit to the Minister for approval, an annual statement on—

(a)the corporation’s projected outputs during the next financial year;
(b)the corporation’s best estimate of the cost to the corporation of providing those outputs;
(c)the methods (including financial and non-financial performance measures) by which the corporation intends to assess the extent to which it will provide those outputs;
(d)how the corporation intends to report on the extent to which it will provide those outputs; and
(e)liabilities the corporation intends to incur during the next financial year, subject to subsection (5).

[subs (1) am Promulgation 5 of 2009 s 6, effective 6 February 2009]

(2) Every annual statement shall be accompanied by a statement of the corporation’s best estimate of—

(a)the impacts of the outputs described in the annual statement on, and the impacts and consequences of those outputs for, the number of visitors to Fiji in later years, the length of their stay and the amount of money spent; and
(b)the impacts of those outputs on and consequences of those outputs for the number of visitors to Fiji in later years and the amount of money they spent.

[subs (2) am Promulgation 5 of 2009 s 6, effective 6 February 2009]

(3) At any time during a financial year, the Board may submit to the Minister an amended annual statement for that year.

(4) After receiving the corporation’s annual statement for a year or an amended annual statement, the Minister may—

(a)approve the annual or amended statement, subject to subsection (5);
(b)return the annual or amended statement to the Board with directions for amendment; or
(c)refuse to approve the amended statement.

[subs (4) am Promulgation 5 of 2009 s 6, effective 6 February 2009]

(5) The Minister may, with the concurrence of the Minister responsible for economy, approve any part of an annual statement stating the liabilities the corporation intends to incur.

[subs (5) am Promulgation 5 of 2009 s 6, effective 6 February 2009]

(6) If the Minister—

(a)refers to the Board the corporation’s annual statement for any year or an annual statement, for amendment; or
(b)during a financial year, directs the Board, in writing, to amend its annual statement for the year,

the Board shall amend the annual statement and return it to the Minister.

[subs (6) am Promulgation 5 of 2009 s 6, effective 6 February 2009]

(7) When the Board returns to the Minister the amended annual statement for any financial year, the Board may also return the amended statement required under subsection (2) for that year.