The National Bank of Commerce (Re-organisation and Vesting o f Assets and Liabilities) (Amendment)(No.2) Act, 2007

1. Short title and construction. PART II G e n e r a l A m e n d m e n t s

5. Amendment o f Section 8. C o n s e q u e n t i a l A m e n d m e n t t o t h e P u b l i c C o r p o r a t i o n s A c t PART III

2. Section 3 o f the principal Act is amended by inserting at an appropriate alphabetical order the following dcfinition:- “ C om m ission'’ m eans the Presidential P arastatal Sector Reform Commission fomerly established under the Public Corporations Act.

3. Section 6 o f the principal Act is amended- (a) in paragraph (d). by adding the following sub- paragraph after sub-paragraph (iii): "(iv) the Commission which remained undischarged as on 31st December. 2007-"; (b) in paragraph ( c). by deleting the word "and" between the acronym "ATI ICO" and "SIMU 2000" and substituting thereat a comma and by inserting after the phrase "SIMU 2000" the phrase "and Commission": and (c) in subsection (IA), by deleting the word "and" between the acronym "ATHCO" and "SIMU 2000" and substituting for it a comma and inserting after the phrase "SIMU 2000" the phrase "and Commission". A d dition o f S ection 6 A

4. The principal Act is amended by adding the following provision after section 6: "Additional fu n o t i o n s o f th e Corporation

6A .-(1) The Corporation shall in relation to residual functions and powers of the Commission, assume, co-ordinate and perform the functions of- (a) determining the means by which the restructured specified public corporation is to be diversified; (b) conducting post privatization m onitoring and evaluation; 74 No. 26 N ational Bank o f Commerce (Re-Organisation and Vesting o f Assets and Liabilities) (Amendment) (No. 2) 2007 (c) administering initial public offering o f Government shares in the stock markets: (d) collecting debts owed to public enterprises arising from sale agreements; (e) procuring title deeds in respect of diversified public enterprises: (0 doing any other act as the Minister may direct or that is necessary for effective e a rn in g on the purpose o f this Act. (2) In the performance of the functions stipulated in subsection (1). the corporation shall make consultation with the responsible Minister to whom the specified public corporation is accountable."

5. Section 8 of the principal Act is amended by deleting the word "and" betw een the acronym s "ATIICO" and "SIM IJ 2000" and substituting for it a comma and inserting after the phrase "SIMU 2000" the phrase "and Commission". A m e n ti­ me nt o f S ection 8 CONSEQUENTIAL AMENDMENT TO THE PUBLIC CORPORATION A ( T PART III

8. General amendments. 21 N No. 26 No Honed Bank o f Commerce (Re-Orgcmisation and Vesting o f Assets and Liabilities) (Amendment) (No. 2) 2007 THE UNITED REPUBLIC OF TANZANIA I A s s e n t . J a k a v a M . K i k w e t e President 31,h December, 2007 An Act to further amend the National Bank o f C om m er ce (Re-organisation and Vesting of Assets and Liabilities) Act, Cap. 404 with a view to providing for the assumption and contin uat io n o f rem aining principal functions of the P r e s i d e n t ia l P a r a s t a t a l S ect o r Reform C o m m is sio n consequent upon expiry of its term of life. E n a c t e d by Parliament o f the United Republic o f Tanzania. PART I P r e l i m in a r y P r o v i s i o n s l . - ( l ) This Act may be cited as the National Bank of Commerce (R e -o rg a n isa tio n and V esting o f A ssets and L ia b ilitie s ) (Amendment)(No.2) Act, 2007 and shall be read as one with the National Bank o f Com m erce (R e-organisation and Vesting o f A ssets and Liabilities) Act, hereinafter referred to as the "principal Act". short tit,e eonsmi- ction 23 No. 26 N ational Bank o f Commerce (Re-Organisation and Vesting o f Assets and Liabilities) (Amendment) (No. 2) 2007 (2) The provisions o f Parts II and III shall conic into operation on the 1st day o f January. 2008. PART II G e n e r a l A m e n d m e n t s A m e n d ­ m en t o f Section 3 A m e n d ­ m ent o f Section 6

6. This Part shall be read as one with the Public Corporations Act. hereinafter referred to as the principal Act.

7. Section 3 o f the principal Act is amended by deleting all references definitions o f the terms ‘‘Chairman" ‘‘Commission'; “General Fund'1 and ‘‘m em ber’ and by inserting at an appropriate alphabetical order the following definition: ‘‘Corporation" means the Consolidated Molding Corporation estabished under the National Bank o f Commerce (Reorganisation and Vesting of Assets and Liabilities) Act.

8. The principal Act is amended genera I ly- (a) in section 14 by dclcting- 25 C o n s t r u ­ c t i o n Cap. 25 7 A m e n d ­ m en t o f Section 3 Gener al a m e n d ­ m e n t s No. 26 National Bank o f Commerce (Re-Organisation and Vesting o f Assets and Liabilities) (Amendment) (No. 2) 2007 (i) (ii) the phrase "and to the Commission" which appears in subsection (1); the phrase "and the Commission" which appears in paragraph (1) of subsection (2): (iii) (iv) (v) the phrase "the Commission" which appears in paragraph (j) o f su6secuon (2): the phrase "and to the Commission" which appears in subsections (3). (4) and (6): subsection (7): Cap. 21 2 which appears in opening words o f subsection (1): (b) in section 15 by deleting the phrase "and the Commission" (c) in section 16 by deleting the phrase "and the Commission"; (d) in section 18 by deleting - (i) (ii) the p h rases "and the C om m ission" and "or the Commission" which appears in subsection (1): and the phrase "or to the Commission" which appears in subsection (2); and (e) in section 20 by deleting the phrase "in consultation with the Commission and" which appears in subsection (2). (0 by repealing Parts V. VI and VII. (g) in section 38 - (i) deleting in subsection (1) the p h rase "upon the recommendation of the Commission"; (h) in section 39 - (i) (ii) deleting in subsection (1) the term "Commission" substituting for it the phrase "Corporation": deleting in subsection (2) the term "Commission" and substituting for it the phrase "Corporation"; (i) in section 40- (i) d eletin g in su b se c tio n s (1) and (2) the term "Commission" wherever it appears and substituting for it the phrase "Corporation"; 26 No. 26 National Bank o f Commerce (Re-Organisation and Vesting o f Assets and Liabilities) (Amendment) (No. 2) 2007 (ii) in subscction (3) by deleting the term "Commission'and substituting for it the term "Corporation" and by deleting the phrase "responsible for Planning Commission"; (j) in section 40A (1) by- (i) (ii) substituting for the term "Commission"which appears in paragraph (a) the phrase "responsible Minister"; deleting for the term "Com m ission" where it first appears in paragraph (e) and substituting for it the phrase "responsible Minister" and substituting for it the term "Commission" w here it second appears and substituting for it the term "'Cooperation'’ and by deleting the term "Commissioif’whcrc it third appears and substituting for it the phrase "responsible Minister"; (iii) substituting for the term "Commission" wherever it appears in paragraphs (e). (g). (h). (j)r (m) and (n) the term “Corporation”. (k) by repealing section 41; (1) in section 42 by- (i) (ii) deleting in paragraph (b) the term "Commission” and substituting for it the phrase "Corporation”; deleting parapraph (c) and substituting for it the following paragraph: "(c) implement any directive issued by the Board of the Corporation so as to facilitate divcsture of a specified public corporation; (m) in sectiion 43 by deleting the term "Commission” w herever it appears in subsections (1) and (2) and substituting for it the phrase "Corporation”; (n) in section 44 by deleting the term "Com mission" which appears in subsections (I) and (2) and substituting for it the term "Corporation”; (o) by repealing section 45; and 27 No. 26 National Bank o f Commerce (Re-Organisation and Vesting o f Assets and Liabilities) (Amendment) (No. 2) 2007 (p) in section 45A by deleting the term "Commission” wherever it appears in subsections (1) and (2) and substituting for it the term “Corporation*’; (q) by adding the follow ing provisions immediately after section 45 A: “ Special 1 und 4515.-(1) There is hereby established a fund to be known as the Special Fund into which shall be paid all proceeds from the sale or the restructuring o f a public corporation or the sale of assets of a public corporation and out o f which shall be paid the sums o f money which may be required for the purposes o f effecting such sales or restructuring. (2) Moneys which have accumulated in the Special Fund shall be invested or disbursed in such manner as may be determined by Minister. (3) 'fhe Minister shall cause to be kept and maintaind books of accounts and proper records and of the Special Fund in accordance with internationally acceptable accounting standards. (4) The books of account of the Fund shall be audited by the Controller and Auditor-General. (6) 'fhe Minister shall as soon as possible but in any case not later than one month after receipt o f the report of the Controller and Auditor-General, lay the report before the National Assembly.” Passed in the National Assembly on the 15th November. 2007. D a m i a n S. L. F o k a , Clerk o f the National Assembly 28