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 ↗

board appointments board meetings disclosure of interest meeting procedure membership office tenure quorum record keeping resignation revocation of appointment voting voting rights

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The members must elect a Vice-Chairman from among themselves. Board members generally serve for three years, may resign in writing to the President, and the President may revoke a member’s appointment by letter. The Board must meet at least once every three months, members present must choose someone to preside if the Chairman and Vice-Chairman are absent, and a member who misses two consecutive meetings without sufficient cause stops being a Board member. The Board may co-opt a non-member for technical expertise, but that person cannot vote. A Board member or co-opted member with an interest in a matter must disclose the interest and avoid taking part in the related deliberation. Board meetings need three members for a quorum, questions are decided by a majority of members present, and valid proceedings are not invalidated by a member’s absence or a defect later raised by the absent member.

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Legal text

Provisions of The Oil and Gas Revenues Management Act

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1
2. Application
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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.
2
Application
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AI-assisted research summary: Board members generally serve for three years, may resign in writing to the President, and the President may revoke a member’s 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, members present must choose someone to preside if the Chairman and Vice-Chairman are absent, and a member who misses two consecutive meetings without sufficient cause stops being a Board member.

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. (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
5
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AI-assisted research summary: The Board may co-opt a non-member for technical expertise, but that person cannot vote. A Board member or co-opted member with an interest in a matter must disclose the interest and avoid taking part in 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. 17 The Oil and Gas Revenues Management Act [CAP. 399 R.E 2019] (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. Quorum
5
Function of Minister
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AI-assisted research summary: Board meetings need three members for a quorum, questions are decided by a majority of members present, and valid proceedings are not invalidated by a member’s absence or a defect later raised by the 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. Minutes Board of
6
Collection of oil and gas revenues
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AI-assisted research summary: The Board must keep minutes of business conducted at meetings, have them read and confirmed or amended at the next meeting, and have them signed by the presiding person 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 तयs the amount.

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. ____________________ 18

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The Oil and Gas Revenues Management Act

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