Further to our legal alert of 23 June 2022, amendments have been made to the Investment (Reserved and Restricted Activities) Regulations 2022 (IRRAR). These amendments: provide that a foreign investor must bring, into Fiji, “at least FJD $300,000” within 3 months from the date of incorporation. Previously this referred to the “investment amount” which in… Read more »
Yearly Archives: 2022
Investment Act 2021 – more harm than help?
Poor legal drafting leaves us more confused (and slightly alarmed) Introduction 1. On 1 August 2022, Fiji moves to a new regime of foreign investment regulation. The old Foreign Investment Act 1999 (FI Act) ends and the new Investment Act 2021 (Investment Act) takes effect. The Investment Act is meant to eliminate the process of… Read more »
The 2022 minimum wage increases and the law
Introduction 1. During the 24 March 2022 ‘mini-budget,’ the Government announced it would incrementally raise the national minimum wage from the existing $2.68 to $4.00 an hour by 1 January 2023. What does the law allow? National Minimum Wage increase 2. The Employment (National Minimum Wage) (Amendment) Regulations 2022 were gazetted on 7 April 2022,… Read more »
Announcement
Wen Fi Chen Jovilisi Liganivai Neelraj Sharma Daniel Naidu With a promotion and three new hires, Munro Leys is adding more lawyers to its team. Wen Fi Chen, the firm’s newest Associate, recently re-joined the Munro Leys Litigation Group after gaining a Master of Laws in International Dispute Resolution from King’s College, London as a… Read more »
Entities deemed deregistered
The Ministry of Justice has published on its website the names of businesses, locally incorporated companies and foreign companies deemed deregistered from “31 December 2021”. These are available at https://www.justice.gov.fj/deemed-dereg-listing/ The purported date of deregistration i.e. 31 December 2021 is wrong and should instead refer to 1 January 2022. The Companies Act 2015 in section… Read more »
Friendly Reminder – Annual Solvency Resolution
Directors of Fiji incorporated companies must pass a solvency resolution within two months of a company’s financial year-end. This resolution is not required to be passed by directors of a company that have lodged an annual report with the Registrar of Companies within the last financial year. As most companies’ financial year coincides with calendar… Read more »