Commercial Law Updates

Everyday life has been severely impacted by COVID-19, and even after the pandemic eases or ends we will have to adjust to new ways of conducting ourselves and our businesses. These are likely to include new methodologies to prepare ourselves better to ensure continuity of businesses, and safeguard the livelihoods of employees.

During these testing times, it is easy to overlook important deadlines, legal obligations and those terms and conditions under a contract which continue to run uninterrupted, and the fulfilment of which may be rendered impossible. This commercial law guidance briefly reviews what options may be available under a contract should businesses face difficulty in performing their contractual obligations.

Please note we provide general guidance only regarding commercial contractual obligations in the context of the current pandemic. This guidance does not cover employment contracts as these should be considered separately in accordance with the Employment Relations Act 2007.

Fiji has various industry specific tax concessions, available under the 2017 to 2018 Budget, designed to encourage economic growth and much needed investment in certain sectors.

In this update we look at the tax incentives available in the tourism sector, particularly in hotel investment, and set out a brief outline of what tax benefits investors in this sector could enjoy.

Fiji has 3 types of land title ownership that are regulated in accordance with the Land Transfer Act. This provides a system of title by registration that accords with the Torrens Title System and bestows an indefeasible title on anyone who registers their title in accordance with the Land Transfer Act, in the absence of actual fraud.

Fiji’s system of written titles and different types of land ownership is not only unique in terms of protecting indigenous land ownership but it also provides Fiji with an advantage over most other Pacific Island States. This is because, in accordance with the Torrens Title System, Fiji, has a system of recorded titles that the State guarantees. This system provides certainty of title which reduces disputes over land ownership and benefits commerce and investment.

In this legal update we briefly set out the 3 types of Fiji land ownership, and update on a recent development in relation to the requirements for the lawful assignment of iTaukei leases.