The Natural Wealth and Resources Contracts (Review and Re-negotiation of Unconscionable Terms) Act

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Jurisdiction: Tanzania
Instrument: Act or statute
Citation: The Natural Wealth and Resources Contracts (Review and Re-negotiation of Unconscionable Terms) Act
Version: Undated source snapshot
Language: en
Official source: View official record ↗

arbitration compensation development finance foreign capital foreign investment investment nationalisation natural resources resource development resource governance scientific information state responsibility technical assistance trade in goods and services

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Peoples and nations have a right to permanent sovereignty over their natural wealth and resources, and that right must be exercised for national development and the well-being of the State’s people. Exploration, development, disposition of the resources, and the import of the foreign capital needed for those purposes should follow the rules and conditions that peoples and nations consider necessary or desirable. If authorisation is granted, imported capital and its earnings are governed by the authorisation, national law, and international law; profits must be shared as agreed between the investors and the recipient State. If nationalisation, expropriation, or requisitioning is based on public utility, security, or the national interest, the owner must be paid appropriate compensation. States must respect each other’s sovereign equality and further the free and beneficial exercise of peoples’ and nations’ sovereignty over natural resources.

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Provisions of The Natural Wealth and Resources Contracts (Review and Re-negotiation of Unconscionable Terms) Act

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1
Short title
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AI-assisted research summary: Peoples and nations have a right to permanent sovereignty over their natural wealth and resources, and that right must be exercised for national development and the well-being of the State’s people.

1. The right of peoples and nations to permanent sovereignty over their natural wealth and resources must be exercised in the interest of their national development and of the well-being of the people of the State concerned.
2
Application
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AI-assisted research summary: Exploration, development, disposition of the resources, and the import of the foreign capital needed for those purposes should follow the rules and conditions that peoples and nations consider necessary or desirable.

2. The exploration, development and disposition of such resources, as well as the import of the foreign capital required for these purposes, should be in conformity with the rules and conditions which the peoples and nations freely consider to be necessary or desirable with regard to the authorisation, restriction or prohibition of such activities.
3
Interpretation
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AI-assisted research summary: If authorisation is granted, imported capital and its earnings are governed by the authorisation, national law, and international law; profits must be shared as agreed between the investors and the recipient State.

3. In cases where authorisation is granted, the capital imported and the earnings on that capital shall be governed by the terms thereof, by the national legislation in force, and by international law. The profits derived must be shared in the proportions freely agreed upon, in each case, between the investors and the recipient State, due care being taken to ensure that there is no impairment, for any reason, of that State’s sovereignty over its natural wealth and resources.
4
Powers to review arrangements or agreements
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AI-assisted research summary: If nationalisation, expropriation, or requisitioning is based on public utility, security, or the national interest, the owner must be paid appropriate compensation.

4. Nationalisation, expropriation or requisitioning shall be based on grounds or reasons of public utility, security or the national interest which are recognised as overriding purely individual or private interests, both domestic and foreign. In such cases the owner shall be paid appropriate compensation, in accordance with the rules in force in the State taking such measures in the exercise of its sovereignty and in accordance with international law. In any case where the question of compensation gives rise to a controversy, the national jurisdiction of the State taking such measures shall be exhausted. However, upon agreement by sovereign States and other parties concerned, settlement of the dispute should be made through arbitration or international adjudication.
5
Procedure for review
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AI-assisted research summary: States must respect each other’s sovereign equality and further the free and beneficial exercise of peoples’ and nations’ sovereignty over natural resources.

5. The free and beneficial exercise of the sovereignty of peoples and nations over their natural resources must be furthered by the mutual respect of States based on their sovereign equality.
6
Re-negotiation of unconscionable terms
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AI-assisted research summary: International co-operation for developing countries should support their independent national development and respect their sovereignty over natural wealth and resources.

6. International co-operation for the economic development of developing countries, whether in the form of public or private capital investments, exchange of goods and services, technical assistance, or exchange of scientific information, shall be such as to further their independent national development and shall be based upon respect for their sovereignty over their natural wealth and resources. 676 ©2025 Government of Tanzania. All rights reserved. No part of this book may be reproduced or distributed without permission of OAG. THE NATURAL WEALTH AND RESOURCES CONTRACTS (REVIEW AND RE-NEGOTIATION OF UNCONSCIONABLE TERMS) ACT [CAP. 450 R.E. 2023]
7
Rectification and expunge of unconscionable terms
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AI-assisted research summary: The provision says that violating peoples’ and nations’ sovereignty over their natural wealth and resources is contrary to the UN Charter’s spirit and principles.

7. Violation of the rights of peoples and nations to sovereignty over their natural wealth and resources is contrary to the spirit and principles of the Charter of the United Nations and hinders the development of international co-operation and the maintenance of peace.
8
Powers to make regulations
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AI-assisted research summary: States and international organisations are told to respect peoples’ and nations’ sovereignty over natural wealth and resources, and the Secretary-General is asked to continue a study and report back.

8. Foreign investment agreements freely entered into by or between sovereign States shall be observed in good faith; States and international organisations shall strictly and conscientiously respect the sovereignty of peoples and nations over their natural wealth and resources in accordance with the Charter and the principles set forth in the present resolution. PART II Welcomes the decision of the International Law Commission to speed up its work on the codification of the topic of responsibility of States for the consideration of the General Assembly. PART III Requests the Secretary-General to continue the study of the various aspects of permanent sovereignty over natural resources, taking into account the desire of Member States to ensure the protection of their sovereign rights while encouraging international co-operation in the field of economic development, and to report to the Economic and Social Council and to the General Assembly, if possible at its eighteenth session. 677 ©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 Natural Wealth and Resources Contracts (Review and Re-negotiation of Unconscionable Terms) Act

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