The Oil and Gas Revenues Management Act

The members must elect a Vice-Chairman from among themselves.

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Jurisdiction: Tanzania
Instrument: Act or statute
Citation: The Oil and Gas Revenues Management Act
Version: Undated source snapshot
Language: en
Official source: View official record ↗

appointment and removal board governance board meetings board membership board procedure conflicts of interest governance meeting procedure meeting quorum membership minutes public administration resignation voting voting rights

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The members must elect a Vice-Chairman from among themselves. Board members generally hold office for three years, may be re-appointed once, may resign in writing to the President, and the President may revoke an appointment by letter. The Board must meet at least once every three months. If the Chairman and Vice-Chairman are absent, the members present must choose one of themselves to preside. A member who misses two consecutive Board meetings without sufficient cause stops being a Board member and the vacancy must be filled immediately. The Board may co-opt non-members for technical expertise, but they cannot vote. Members or co-opted members with an interest in a matter must disclose that interest and step out of the related deliberation. Board meetings need a quorum of three members in office, decisions are made by majority vote, and valid meetings are not invalidated by a member’s absence or a later objection raised by that absent member.

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Legal text

Provisions of The Oil and Gas Revenues Management Act

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1
Short title
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AI-assisted research summary: The members must elect a Vice-Chairman from among themselves.

1. The members shall elect from amongst their number a Vice- Chairman. Tenure of office Meetings
2
Application
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AI-assisted research summary: Board members generally hold office for three years, may be re-appointed once, may resign in writing to the President, and the President may revoke an appointment by letter.

2.–(1) The Chairman or member of the Board shall, unless his appointment is terminated or ceases in any other way to be a member, hold office for a period of three years and may be eligible for re- appointment for one more term. (2) A member of the Investment Advisory Board shall cease to be a member if the member- (a) dies or resigns for any reason; (b) is convicted of a criminal offence for a term of or beyond six months; (c) becomes mentally ill; or (d) is disqualified to practice under this Act. (3) A member of the Board may at any time resign from office in writing addressed to the President. (4) The President may, by letter addressed to a member, revoke the appointment of such member.
3
Interpretation
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AI-assisted research summary: The Board must meet at least once every three months. If the Chairman and Vice-Chairman are absent, the members present must choose one of themselves to preside. A member who misses two consecutive Board meetings without sufficient cause stops being a Board member and the vacancy must be filled immediately.

3.–(1) The Board shall ordinarily meet at least once in every three months at such times and places as it deems necessary for transaction of its business. (2) In the absence of the Chairman and Vice-Chairman, members present shall appoint a member from amongst themselves to preside over the meeting. 409 ©2025 Government of Tanzania. All rights reserved. No part of this book may be reproduced or distributed without permission of OAG. THE OIL AND GAS REVENUE MANAGEMENT ACT [CAP. 328 R.E. 2023] Co-opted member Quorum Minutes of Board (3) A member who is absent from two consecutive meetings of the Board without sufficient cause shall cease to be a member of the Board and his vacancy shall be immediately replaced.
4
Functions of Minister
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AI-assisted research summary: The Board may co-opt non-members for technical expertise, but they cannot vote. Members or co-opted members with an interest in a matter must disclose that interest and step out of the related deliberation.

4.–(1) The Board may co-opt any person who is not a member to provide technical expertise but such person shall not have a power to vote. (2) A member or co-opted member of the Board who has an interest in a matter for consideration by the Board shall disclose the nature of that interest to the Board and excuse himself from participating in the deliberation relating to the matter in which such member has interest.
5
Functions of Bank
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AI-assisted research summary: Board meetings need a quorum of three members in office, decisions are made by majority vote, and valid meetings are not invalidated by a member’s absence or a later objection raised by that absent member.

5.–(1) The quorum at any meeting of the Board shall be three members in office. (2) Matters proposed at a meeting of the Board shall be decided by a majority of the votes of the members present. (3) The validity of any act or proceedings of a properly constituted Board meeting shall not be affected by reason of absence of any member or by the defect subsequently raised by the absent member.
6
Collection of oil and gas revenues
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AI-assisted research summary: The Board must keep minutes of all business done at the meeting, and the minutes of each Board meeting must be read, confirmed or amended at the next meeting, and signed by the person presiding and the secretary.

6. The Board shall cause to be recorded and kept minutes of all business conducted or transacted at the meeting and the minutes of each meeting of the Board shall be read and confirmed or amended at the next meeting of the Board and signed by the person presiding and the secretary to the meeting. allowances
7
Auditing of reserves, exploration, and costs
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AI-assisted research summary: Members of the Board are to be paid allowances, and the Minister determines the amount or basis of those allowances.

7. Members of the Board shall be paid allowances as determined by the Minister. Proceedings
8
Oil and Gas Fund
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AI-assisted research summary: The Board must regulate its own proceedings, subject to this Schedule.

8. Subject to this Schedule, the Board shall regulate its own proceedings. 410 ©2025 Government of Tanzania. All rights reserved. No part of this book may be reproduced or distributed without permission of OAG.

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The Oil and Gas Revenues Management Act

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