The Natural Wealth and Resources Contracts (Review and Re-Negotiation of Unconscionable Terms) Regulations, 2020 | The Natural Wealth and Resources Contracts (Review and Re-Negotiation of Unconscionable Terms) Regulations, 2020 — Tanzania law | Esheria

The Natural Wealth and Resources Contracts (Review and Re-Negotiation of Unconscionable Terms) Regulations, 2020

These Regulations may be cited as the Natural Wealth and Resources Contracts (Review and Re-negotiation of Unconscionable Terms) Regulations, 2020.

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Jurisdiction
Tanzania
Instrument
Regulation
Citation
The Natural Wealth and Resources Contracts (Review and Re-Negotiation of Unconscionable Terms) Regulations, 2020
Version
Undated source snapshot
Language
en
Official source
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allowances cabinet review cabinet submission confidentiality conflicts of interest contract drafting contract governance contract oversight contract renegotiation contract terms contracts cost allocation definitions documentation/audit trail due diligence endorsement ethics foreign investment gifts and benefits government appointment government approval government meetings government reporting government team +40 more

Statute overview

About this statute

These Regulations may be cited as the Natural Wealth and Resources Contracts (Review and Re-negotiation of Unconscionable Terms) Regulations, 2020. This section defines key terms used in the regulation. Agreements covered by the Act must be made by both parties fairly, honestly, and in utmost good faith, and agreements with an unconscionable term are subject to renegotiation. The President remains trustee of Tanzania’s natural wealth and resources, and the Minister has power to coordinate, monitor, manage, and report on contracts. The Ministry must establish a Register for information about natural wealth and resources arrangements or agreements.