The Investment in Tanganyika Government Securities Act

This section states the Act’s short title.

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Jurisdiction: Tanzania
Instrument: Act or statute
Citation: The Investment in Tanganyika Government Securities Act
Version: Undated source snapshot
Language: en
Official source: View official record ↗

application/scope appropriation audit contract variation fund appropriation funds and accounts government securities payment of judgments public finance repeal

Statute overview

About this statute

This section states the Act’s short title. This section defines “Consolidated Fund” as the Consolidated Fund of the Government of the United Republic. This section says the Act applies to certain Tanganyika Government securities and gives those securities a defined label. If a UK court finally orders money payable by the Government of Tanganyika for Tanganyika Government securities, the amount must be paid from the Consolidated Fund, and the Government of Tanganyika must make funds available in the United Kingdom when needed. A certificate issued by the authorised Tanganyika agent can authorize the Controller and Auditor-General, or a similar auditing officer, to pass the paid sum without further appropriation.

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Legal text

Provisions of The Investment in Tanganyika Government Securities Act

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1
Short title
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AI-assisted research summary: This section states the Act’s short title.

1. This Act may be cited as the Investment in Tanganyika Government Securities Act. Interpretation
2
3. Application
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AI-assisted research summary: This section defines “Consolidated Fund” as the Consolidated Fund of the Government of the United Republic.

2. In this Act “Consolidated Fund” means the Consolidated Fund of the Government of the United Republic. Application
3
Application
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AI-assisted research summary: This section says the Act applies to certain Tanganyika Government securities and gives those securities a defined label.

3. This Act shall apply to all securities heretofore or hereafter created or issued on behalf of the Government of Tanganyika- in which a trustee in the United Kingdom might at any time have invested by virtue of section 2 of the Colonial Stock Act,1900; or (i) (ii) by the conditions of issue of which it is provided that the provisions of this Act shall apply to them, each and all of which securities are hereinafter referred to as “Tanganyika Government securities”. Provisions for payment of money due to stockholders
4
Provisions for payment of money due to stockholders
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AI-assisted research summary: If a UK court finally orders money payable by the Government of Tanganyika for Tanganyika Government securities, the amount must be paid from the Consolidated Fund, and the Government of Tanganyika must make funds available in the United Kingdom when needed.

4.–(1) Whenever by the final judgment, decree, rule or order of any court of competent jurisdiction in the United Kingdom, any sum of money is adjudged or declared to be payable by the Government of Tanganyika in respect of any Tanganyika Government securities, that sum shall, without further appropriation than this Act be charged on and paid out of 72 ©2025 Government of Tanzania. All rights reserved. No part of this book may be reproduced or distributed without permission of OAG. THE INVESTMENT IN TANGANYIKA GOVERNMENT SECURITIES ACT [CAP. 359 R.E. 2023] the Consolidated Fund, and adequate funds (as and when required) shall be made available in the United Kingdom by the Government of Tanganyika to meet that final judgment, decree, rule or order. (2) For the purposes of this section “final judgment, decree, rule or order” means in case of appeal the final judgment, decree, rule or order of the ultimate court hearing the appeal.
5
Certificate of paying agent
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AI-assisted research summary: A certificate issued by the authorised Tanganyika agent can authorize the Controller and Auditor-General, or a similar auditing officer, to pass the paid sum without further appropriation.

5. A certificate specifying the sum paid under order of any such court as aforesaid to satisfy the final judgment, decree, rule or order and issued by the agent in the United Kingdom of the Government of Tanganyika authorised to make the payment shall be sufficient authority to the Controller and Auditor- General or other officer having the auditing of the accounts of the agent for passing the sum without further appropriation.
6
Certain legislation to be agreed with the United Kingdom Government
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AI-assisted research summary: Some legislation affecting Tanganyika Government securities cannot become law unless the United Kingdom Government agrees.

6. Legislation which appears to Her Majesty’s Government in the United Kingdom to alter any of the provisions affecting Tanganyika Government securities to the injury of their holders or to involve a departure from the original contract in regard to those securities, shall not become law except after agreement with Her Majesty’s Government in the United Kingdom, and if attention is drawn to that legislation after it is passed, the Government of Tanganyika will take the necessary steps to ensure any amendment which may be requested by Her Majesty’s Government in the United Kingdom. Certificate of paying agent Certain legislation to be agreed with the United Kingdom Government Repeal
7
Repeal
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AI-assisted research summary: This section repeals the Trustee Investment in Tanganyika Government Securities Ordinance R.L. Cap. 256.

7. [Repeals the Trustee Investment in Tanganyika Government Securities Ordinance R.L. Cap. 256]. 73 ©2025 Government of Tanzania. All rights reserved. No part of this book may be reproduced or distributed without permission of OAG. ©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 Investment in Tanganyika Government Securities Act

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