FIJI ISLANDS REVENUE AND CUSTOMS AUTHORITY ACT 1998

Expenditure to be charged on funds of the Authority
40.1 The funds of the Authority shall be expended for the purposes of—
(a) paying any expenditure lawfully incurred by the Authority in the performance of
its functions or the exercise of its powers under this Act;
(b) discharging any obligations and liabilities of the Authority and making any
payments which the Authority is required or authorised to make;
(c) generally paying any expenses for carrying into effect the provisions of this Act.
Payment of surplus funds to State
41.1—(1) Subject to subsection (2) but notwithstanding any other Act or any rule of law
the Minister may at any time or times, by written notice to the Authority, require the
Authority to pay into the Consolidated Fund such amount as the Minister specifies in the
notice and any such amount shall become the property of the State.
(2) The Minister may not give notice under subsection (1) until he has consulted the
Authority as to the appropriate amount and is satisfied that the payment will not
materially disadvantage any creditor of the Authority or materially impede the Authority
in performing its functions or satisfying its obligations.
Part VI—REPORTING AND ACCOUNTABILITY1
Financial Year
42.1 The Authority’s financial year shall be from the 1st day of January to the 31st day of
December of each year.
Half yearly reports
43.1—(1) The Authority shall furnish the Minister with a report on its activities for the
first half of each financial year (in this Part referred to as the half yearly report).
(2) The half yearly report shall be given to the Minister by the end of August or on such
a later date as may be agreed between the Authority and the Minister.
(3) The half yearly report shall include the information required by the Authority’s
statement of corporate intent to be given in the report.
Annual Report
44.1—(1) Within 4 months after the end of each financial year the Authority shall in
accordance with its statement of corporate intent prepare a report of its activities during
that financial year (in this Part referred to as the Annual Report).
(2) The Authority shall send a copy of the Annual Report to the Minister who shall
cause it to be laid before each House of the Parliament as soon as practicable.
(3) The Annual Report required by subsection (1) shall contain, among other things-
(a) an audited statement of accounts prepared in accordance with generally accepted
accounting practice as determined by the Fiji Institute of Accountants;
16