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Rewa Rice Limited Decree 1991


REPUBLIC OF FIJI


DECREE NO. 28
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REWA RICE LIMITED DECREE, 1991
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A DECREE TO AUTHORISE THE GOVERNMENT TO GUARANTEE THE LETTERS OF CREDIT AND WORKING CAPITAL TO BE RAISED BY THE REWA RICE LIMITED TO AN AMOUNT NOT ONE MILLION AND SEVEN HUNDRED AND SIXTY THOUSAND DOLLARS FROM THE NATIONAL BANK OF FIJI


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


1. This Decree may be cited as the Rewa Rice Limited Decree, 1991.


Interpretation


2. In this Decree unless the context otherwise requires:


“Company” means the Rewa Rice Limited a duly registered private company limited by shares having being registered in the Companies Office, Suva, Fiji under the Companies Act (Cap.247) on 8th day of March 1960;


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


“Minister” means the Minister responsible for finance and economic planning.


Government guarantee


3. The Minister is hereby authorised to guarantee on behalf of the Government Letters of Credit and working capital not exceeding one million arid seven hundred and sixty thousand dollars to be raised by Rewa Rice Limited from the National Bank of Fiji.


Guarantee to be evidenced by instrument


4. The guarantee authorised by section 3 of this Decree shall be evidenced by an instrument or instruments given under the hand of the Minister.


Conditions of guarantee


5. For the purpose of the protection of the financial interest of the Government the Minister shall not give a guarantee under Section 3 of this Decree unless the terms and conditions of Letters of Credit to he raised by the company and monies borrowed as working capital are considered by the Minister as reasonable.


Commencement


6. This Decree shall come into force on the day it is made.


Made at Suva this 15th day of July 1991.


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


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