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Power For Minister A Concern In The Companies Bill

Power For Minister A Concern In The Companies Bill
April 09
10:46 2015

Concerns were raised yesterday over the amount of powers the Minister responsible for companies would have under the proposed Companies Bill.

Pacific Dialogue Limited chairman, Jone Dakuvula, highlighted these concerns before the Parliamentary Standing Committee on Justice, Law and Human Rights.

Former politician now NGO actitist, Mr Dakuvula said the Minister can impose changes to names of companies and the constitution of companies limited by guarantee.

He said the Minister can de-register existing, legally-registered companies.

In doing so, the Minister would not be obliged by law to give reasons for doing so to the companies concerned or the public at large, he said.

“In other words, the Minister has powers under this Bill to destroy lawfully-registered companies that have been operating lawfully for many years, simply because of his own personal and/or political prejudices,” he said.

“We have studied Company Acts of New Zealand, Australia, the UK, India, Jamaica, Mauritius and South Africa.

“We have not found in the company laws of any of these countries similar powers of the Minister responsible for companies to change the constitutions (Articles of Association).”

Mr Dakuvula stressed what he called oppressive and unjustifiable discriminatory power has no place in such an important law that regulates the activities of business in this country.

“It much therefore be wholly removed or changed significantly so that provisions are consistent with similar provisions contained in the Companies Acts of other countries,” he said.

Feedback: rachael.nath@fijisun.com.fj

 

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