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National Marketing Authority (Dissolution and Transfer of Assets etc.) Decree 1992

THE SOVEREIGN DEMOCRATIC REPUBLIC OF FIJI


DECREE NO. 15 OF 1992


NATIONAL MARKETING AUTHORITY (DISSOLUTION AND TRANSFER OF ASSETS ETC.) DECREE, 1992


A DECREE TO REPEAL THE MARKETING ACT, TO DISSOLVE THE NATIONAL MARKETING AUTHORITY AND TRANSFER ITS ASSETS, LIABILITIES ETC. TO THE NATIONAL TRADING CORPORATION LIMITED


IN exercise of the powers vested in me as President of the Sovereign Democratic Republic of Fiji and Commander-in-Chief of the Armed Forces, and acting in accordance with the advice of the Prime Minister and the Cabinet, I hereby make the following Decree–


Short title and commencement


1. This Decree may be cited as the National Marketing Authority (Dissolution and Transfer of Assets etc.) Decree, 1992 and shall be deemed to have come into force on 1st January, 1992.


Repeal, dissolution and transfer of assets & liabilities etc.


3.- (1) The Marketing Act, Chapter 236, is hereby repealed and the National Marketing Authority established thereunder (and hereinafter referred to as “the Authority”) is hereby dissolved.


(2) By virtue of this Decree, all assets, funds, resources and other movable and immovable property which, immediately before the commencement of this Decree were vested in the Authority shall be vested in the National Trading Corporation Limited, a Government wholly-owned company, incorporated and registered in Fiji under the Companies Act and (hereinafter referred to as the Corporation).


(3) The rights, interests, obligations and liabilities of the Authority lawfully existing before this Decree under any contract or instrument or in law or in equity, apart from any contract or instrument, shall by virtue of this Decree, be assigned to and vested in the Corporation.


(4) Any reference in any Act, subsidiary legislation, instrument or document to the National Marketing Authority shall as from the commencement of this Decree, unless inconsistent with the subject matter, be deemed and be taken to refer to the National Trading Corporation Limited.


(5) The National Trading Corporation shall, subject to its Memorandum and Articles of Association, employ all of the staff of the Authority dissolved by this Decree and the previous service in the Authority by the staff so employed shall count as service for the purpose of any pension or other benefit subsequently paid by the Corporation and referable to years of service.


Made at Suva this 6th day of February 1992.


PENAIA K. GANILAU
President of the Sovereign Democratic Republic
of Fiji and Commander-in-Chief of the Armed Forces

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