The Fiji Law Society in its submission to the Parliamentary Standing Committee has indicated that a lot more work is needed in the proposed Companies Bill 2015.

Lawyer Richard Naidu says the Fiji Law Society feels that the Company’s Bill is more or less re-inventing the wheel and needs to be made easily understandable.

“Let’s face it, it is not just lawyers and accountants and company directors who ought to be able to understand this law. The law has to be accessible to everyone. Many of the provisions in this bill are extremely complex and some of them will be because that’s just the way company law is but they don’t all need to be complex.”

Naidu added that the Government should also take time to help people truly understand the Bill before it is passed.

“It’s better for the Government to take its time and get it right. First of all by publishing the rules and regulations in the prescribed forms that it has promised to do so at a later date – do that first so that we can see how the company’s legislation is going to work as a whole.”

After all submissions have been made on the proposed Companies Bill the Committee will then present a report in Parliament.