Cabinet has approved the Natadola Bay Development Decree, which will ensure that FNPF's member’s funds no longer get eroded through the Natadola Project.
The announcement comes after the Fiji National Provident Fund announced it has written off 301 million dollars from the Natadola Project.
Attorney General Aiyaz Sayed-Khaiyum said the decree which is now in force will mean that the problems currently faced by the various subsidiaries of the FNPF in acquiring proper ownership and security to the developments by them, will no longer exist.
Sayed-Khaiyum said the decree cannot be challenged in court.
Sayed-Khaiyum added the implementation of the decree will mean that the FNPF will have the legal ability to carry out developments in Natadola without any obstruction.
He said that there could be a possibility of write backs into the member’s funds with the development of the balance of the land at Natadola.
Cabinet approves Natadola Bay Development Decree
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