Attention company directors and secretaries:
Under the Companies Act 2015 every Fiji company must pass an annual solvency resolution (or a different form of resolution if you do not consider the company to be solvent on the usual tests).
This must be done within two months of a company’s financial year-end. For those companies who have a calendar financial year, that means no later than 29 February 2020. The requirement to pass a solvency resolution does not apply to companies that have lodged Annual Reports with the Registrar within the last financial year.
If you need more information, please see our 2019 Solvency Resolution Reminder Alert.
Contact
Please contact Glenis Yee or Janice Fong for further information.
Disclaimer
The information and opinions in this Legal Alert are for general information purposes only. They are not intended as specific legal or other professional advice and should not be relied upon or treated as a substitute for specific advice. Munro Leys can accept no responsibility for any loss arising from reliance on the general information contained in this Legal Alert.