Home | Databases | WorldLII | Search | Feedback Fiji Sessional Legislation

Fiji Electricity Authority Loan Guarantee Decree 1991

REPUBLIC OF FIJI

DECREE NO. 14
________

FIJI ELECTRICITY AUTHORITY LOAN GUARANTEE DECREE, 1991
________

A DECREE GUARANTEEING THE INCREASE IN THE LOAN IN PROMISSORY NOTES ISSUED BY FIJI ELECTRICITY AUTHORITY FROM FIFTY MILLION DOLLARS TO SEVENTY FIVE MILLION DOLLARS

IN exercise of the powers vested in me and pursuant to section 5 of the Constitution of the Sovereign Democratic Republic of Fiji (Promulgation) Decree, 1990 and as amended by section 2 of the Constitution of the Sovereign Democratic Republic of Fiji (Promulgation) Decree 1990 (Amendment No. 1) Decree, 1990, I as the person appointed to perform the functions of the office of the President of the Republic of Fiji and acting in accordance with the advice of the Prime Minister and the Cabinet, hereby make the following Decree:

Short title

1. This Decree may be cited as the Fiji Electricity Authority Luan Guarantee Decree, 1991.

Interpretation

2. In this Decree, unless the context otherwise requires:

“Government” means the Government of the Sovereign Democratic Republic of Fiji;

“Authority” means the Fiji Electricity Authority established under the provisions of Section 3 of the Electricity Act (Cap. 180).

Government to guarantee the increase

3. The Government shall guarantee the repayment by the Authority of the principal moneys and the payment of interest up to the current rate on treasury bill the total guarantee sum not exceeding 25 million dollars in promissory notes to be issued by the Authority in addition to the guaranteed sums of 40 million dollars and 10 million dollars in promissory notes already issued by the Authority pursuant to the Fiji Electricity Authority Loan Guarantee Decree, 1988 and Fiji Electricity Authority Loan Guarantee Decree 1990 respectively.

Guarantee to be evidenced by instrument

4. The guarantee authorised under Section, above shall be evidenced by an instrument given under the hand of the Minister responsible for finance.

Made this 26th day of April 1991.

INOKE TAKIVEIKATA
Person appointed to perform the functions
of the office of the President

______________