A new Natadola Bay Development Decree promulgated by the government now provides the forfeiture of the shares of Asia Pacific Resort International Limited or the company commonly known as APRIL in Natadola Land Holdings Limited.

Attorney General Aiyaz Sayed-Khaiyum said all property held by APRIL in relation to Natadola will be transferred to FNPF's subsidiary company, Natadola Bay Resorts Limited.

Sayed-Khaiyum said the new decree focuses on ensuring that Fiji National Provident Fund has full legal ownership of Natadola and faces no legal obstacles in getting the best return for the FNPF members.

He also said cabinet approved the Natadola Bay Development Decree, which will ensure that FNPF=s members funds no longer get eroded through the Natadola Project.

The announcement comes after FNPF announced it has written off 301 million dollars from the Natadola Project.

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 will no longer exist.

Sayed-Khaiyum said the decree cannot be challenged in court.