Press Release No 5 –
Reserve Bank Instructs All Financial Institutions to Close on Monday 15 March 2010
Press Release No. : 5/2010
Date: 14 March 2010
Due to the impeding cyclone and in accordance with the Reserve Bank of Fiji Act the Reserve Bank of Fiji declares Monday 15 March 2010 public holiday for all of Fiji.
Bank holidays
Section 62 of RBF Act:–
(1) If the Reserve Bank considers it necessary or expedient in the public interest, it may by order declare any day a non-business day for financial institutions.
(2) Without prejudice to subsection (1), the Reserve Bank may in the event of hurricane, earthquake or other natural disaster declare in such manner as it considers appropriate any day a non-business day for financial institutions, which declaration may relate to any part of or to the whole of Fiji.
(3) Any day declared to be a non-business day under this section shall be regarded as a bank holiday for the purposes of the Bills of Exchange Act.