Government has been urged to include in the Companies Bill regulations for all companies to have at least 50 per cent of women in all boards of directors.

The National Council of Women, while applauding government’s efforts in coming up with the Companies Bill, highlighted this need yesterday.

Council general secretary, Fay Volatabu, made the council’s submission before the Parliamentary Standing Committee on Justice, Law and Human Rights on the proposed Companies Bill.

The council, which is an umbrella organisation of more than 50 women’s organisation, yesterday highlighted its reservations about certain sections of the bill.

“We are hopeful that there will be a gender perspective on all actions by government,” Ms Volatabu said.

“This means that all actions, laws and financial decisions will have to assess the implications of actions on women who make up half the population.”

The council is hopeful the efforts to promote the inclusion and increase of women in all decision making bodies post 2015, will not just be rhetoric but a reality.

“Our hopes are with you that as you make your recommendations, you will assure us the women of Fiji that the ratifications on the global level is followed through with the actions here at home,” Ms Volatabu said.

“Such an action would be to modify the Company Bill to be more friendly towards women who engage in businesses that earn less than $5 million.”

Ms Volatabu suggested another category of companies to be created and to have tax free incenties for women business entrepreneurs.

The National Council of Women Fiji agreed that having a very thorough bill that regulates companies from their birth to their death is very efficient.

National Council of Women Fiji reservations about the Companies Bill:

1. Definitions of companies to include a category for micro private companies with a threshold of $100,000.

2.  Women-owned companies that earn $50,000 or less should be tax exempted and this would include small business women such as food sellers, tailors, craftswomen and market vendors.

3.  Micro businesses (like fisherwomen, roadside vendors etc) are to have a special help desk and have licences free of charge as the cost of licences and all related costs are said to be often too expensive and detrimental to the survival of their businesses.

4.  Local women entrepreneurs, are to have a grace tax exemption period of five years when they start up businesses. This will encourage women to start up their businesses.

5.  The appointment of directors – all companies should be regulated to at least have 50 per cent of directors to be women.

6.  Shared investments to include only formal companies and not collective efforts by women who use collective investments as a means to achieve financial goals. This would encourage women to engage more in collective schemes to pay tuition of their children and to benefit their families.