Central African Civil Air Transport Act, 1964
This provision gives the Act its short title: the Central African Civil Air Transport Act.
- Jurisdiction
- Zambia
- Instrument
- Act or statute
- Citation
- Act 7 of 1964
- Version
- 31 Dec 1996
- Language
- en
- Official source
- View official record ↗
Statute overview
About this statute
This provision gives the Act its short title: the Central African Civil Air Transport Act. This section defines several terms used in the Act, including aerial work, air transport service, Corporation, financial year, functions, Higher Authority, operations, Order in Council, and subsidiary. The Corporation and its subsidiaries must run their business on sound commercial lines and manage finances so revenues are enough to cover outgoings. The Corporation must charge proper business charges to its revenue account and make adequate provision each financial year for listed loan and asset costs. It may also make additional annual provision for replacing assets and for payments to an insurance fund. The Corporation must establish a general reserve and a capital reserve, subject to directions from the Higher Authority.
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Provisions of Central African Civil Air Transport Act, 1964
Showing 45 of 45
Part
Part I – Preliminary
- 1 Verify source ↗
Short title .................................................................................................................................................................................................... 1
This provision gives the Act its short title: the Central African Civil Air Transport Act.
1. Short title This Act may be cited as the Central African Civil Air Transport Act. - 2 Verify source ↗
Interpretation ............................................................................................................................................................................................. 1
This section defines several terms used in the Act, including aerial work, air transport service, Corporation, financial year, functions, Higher Authority, operations, Order in Council, and subsidiary.
2. Interpretation (1) In this Act, unless the context otherwise requires— "aerial work" means a service, other than an air transport service, which is performed by means of an aircraft for payment or material advantage on one or more occasions, and includes the letting out on hire of an aircraft without pilot or crew; "air transport service" means a service for the carriage of passengers or goods which is performed by means of an aircraft for payment or material advantage on one or more occasions; "Corporation" means the Central African Airways Corporation constituted by the Order in Council; "financial year" means the period commencing on the 1st January, 1964, and ending on the 30th June, 1964, and thereafter the period of twelve months ending on the 30th June each year; "functions" means powers and duties; "Higher Authority" means the Higher Authority for Civil Air Transport constituted by the Order in Council; "operations" means the operations mentioned in paragraph (b) of section eighteen; "Order in Council" means the Federation of Rhodesia and Nyasaland (Dissolution) Order in Council, 1963; "subsidiary" means a subsidiary company established in terms of section nineteen. (2) Any reference in this Act to the functions of the Corporation shall be read and construed as a reference to those functions as specified in the Order in Council and in this Act. [App. 1] By Laws.Africa and contributors. Licensed under CC-BY. Share widely and freely. 1 Central African Civil Air Transport Act, 1964 (Chapter 451) Zambia Part II – Financial provisions
Part
Part II – Financial provisions
- 3 Verify source ↗
Conduct of financial affairs of Corporation and subsidiaries ................................................................................................... 2
The Corporation and its subsidiaries must run their business on sound commercial lines and manage finances so revenues are enough to cover outgoings.
3. Conduct of financial affairs of Corporation and subsidiaries It shall be the object of the Corporation so to perform its functions as to ensure that all its revenues, together with those of all its subsidiaries, are not less than sufficient to meet all its outgoings, together with those of all its subsidiaries, properly chargeable to revenue account, taking one year with another; and in general the Corporation and its subsidiaries shall conduct their business on sound commercial lines. - 4 Verify source ↗
Charges to revenue account of Corporation .................................................................................................................................. 2
The Corporation must charge proper business charges to its revenue account and make adequate provision each financial year for listed loan and asset costs. It may also make additional annual provision for replacing assets and for payments to an insurance fund.
4. Charges to revenue account of Corporation (1) The Corporation shall charge to its revenue account all charges which in the normal conduct of business are regarded as proper to be made to revenue account and, in so doing, shall make in each financial year adequate provision for— (a) the redemption of loans at due times; (b) the payment of interest on and all other charges and expenses incurred in connection with loans; (c) the depreciation in value of assets not acquired with loan funds; and (d) the depreciation in value of assets acquired with loan funds to the extent that it is necessary for such provision to exceed the provision for the redemption of loans. (2) In charging to its revenue account all charges which in the normal conduct of business are regarded as proper to be made to revenue account as in subsection (1) is provided, the Corporation may also make in each financial year provision for— (a) meeting, wholly or in part, increases in the cost of replacing assets; and (b) making payments to an insurance fund established by the Corporation to meet, wholly or in part, liabilities of the Corporation arising out of the performance of its functions. - 5 Verify source ↗
Establishment and operation of general reserve and capital reserve of Corporation ..................................................... 2
The Corporation must establish a general reserve and a capital reserve, subject to directions from the Higher Authority.
5. Establishment and operation of general reserve and capital reserve of Corporation (1) Subject to any directions given by the Higher Authority, the Corporation shall establish a general reserve and a capital reserve to which, subject to the provisions of this Part, may be appropriated from a surplus of revenue over expenditure such sums as the Corporation may decide. (2) Subject to the provisions of this Part, sums appropriated to a reserve in terms of subsection (1) may, with the approval of the Higher Authority, be used for such purposes as the Corporation may consider expedient for the proper performance of its functions. - 6 Verify source ↗
Budget of revenue and expenditure ................................................................................................................................................. 2
The Corporation must send its annual budget and later budget amendments to the Higher Authority, and certain deficit budgets or amendments need the Higher Authority’s approval first.
6. Budget of revenue and expenditure The Corporation shall send to the Higher Authority for its information— (a) before the commencement of each financial year, a revenue and expenditure budget in such detail as the Higher Authority may require, relating to the programme planned for that financial year of the operations of the Corporation and its subsidiaries; and By Laws.Africa and contributors. Licensed under CC-BY. Share widely and freely. 2 Central African Civil Air Transport Act, 1964 (Chapter 451) Zambia (b) as soon as may be, any subsequent proposal to amend any such budget; and such budget, together with any such amendments, upon being received by the Higher Authority, shall be deemed to be the budget for the financial year to which it relates: Provided that where the budget or any proposed amendment thereto shows a deficit which would reduce the amount in the general reserve below an amount fixed from time to time by the Higher Authority, the budget or amendment, as the case may be, shall first require the approval of the Higher Authority. - 7 Verify source ↗
Meeting of deficiencies .......................................................................................................................................................................... 3
If the Corporation’s revenues and surplus are not enough to meet the charges and required provision, the deficiency must be covered from the general reserve. If that reserve is still not enough, the Minister must pay the shortfall amount the Government is called on to contribute, using money appropriated by Parliament.
7. Meeting of deficiencies (1) (2) If in any financial year the revenues of the Corporation, together with any surplus revenue brought forward from any preceding financial year, are found to be insufficient to enable the Corporation to meet the charges and make the provision mentioned in subsection (1) of section four, the deficiency shall be met from the general reserve. If the moneys in the general reserve are insufficient for the purpose of meeting the whole of a deficiency referred to in subsection (1), such amount of the shortfall as the Government is called upon by the Higher Authority to contribute shall be paid by the Minister out of moneys appropriated for the purpose by Parliament. [As amended by G.N. No. 301 of 1964] - 8 Verify source ↗
Budget of capital expenditure ............................................................................................................................................................ 3
The Corporation must submit each year’s capital expenditure budget to the Higher Authority before the financial year starts, and it may amend approved budgets subject to the Higher Authority’s directions.
8. Budget of capital expenditure (1) The Corporation shall, before the commencement of each financial year, submit to the Higher Authority for its approval a budget showing the capital expenditure to be incurred by the Corporation and its subsidiaries during the financial year to which it relates and the amounts of such expenditure intended to be met from the resources of the Corporation and its subsidiaries and from other sources. Each such budget shall include an estimate of the unexpended provision carried forward from previous approved capital budgets. (2) Subject to any direction given by the Higher Authority, the Corporation may subsequently amend any budget so approved by the Higher Authority, but shall not exceed the total capital expenditure so approved except with the approval of the Higher Authority. (3) Notwithstanding that a project involving capital expenditure for which provision has been made in an approved budget in terms of subsection (1), or by an amendment of an approved budget in terms of subsection (2), was not commenced or completed during the financial year for which it was approved, such project may be commenced or continued to the extent that it has been approved, as the case may be, in a subsequent financial year without the further approval of the Higher Authority. - 9 Verify source ↗
Government to supply additional capital ....................................................................................................................................... 3
If the Higher Authority asks for extra capital for the Corporation, the Minister must provide that amount from money appropriated by Parliament.
9. Government to supply additional capital In the event of the Higher Authority calling upon the Government to contribute any additional capital to the Corporation, such amount shall be provided by the Minister out of moneys appropriated for the purpose by Parliament. [As amended by G.N. No. 301 of 1964] - 10 Verify source ↗
Borrowing ................................................................................................................................................................................................. 3
The Corporation and its subsidiaries must not borrow unless they have prior approval from the Higher Authority, except by bank overdraft for temporary accommodation.
10. Borrowing Neither the Corporation nor its subsidiaries shall, without the prior approval of the Higher Authority, borrow otherwise than by bank overdraft for temporary accommodation. By Laws.Africa and contributors. Licensed under CC-BY. Share widely and freely. 3 Central African Civil Air Transport Act, 1964 (Chapter 451) Zambia - 11 Verify source ↗
Annual report .......................................................................................................................................................................................... 4
The Corporation must submit an annual report to the Higher Authority within six months after each financial year ends.
11. Annual report The Corporation shall, as soon as is practicable, and in any case not later than six months, after the termination of each financial year, submit an annual report to the Higher Authority on the activities of the Corporation and its subsidiaries. Such report shall include the balance sheet, the revenue and expenditure account and the annual report of the auditor, relating to the Corporation and each subsidiary. - 12 Verify source ↗
Long-term plans of Corporation and subsidiaries ..................................................................................................................... 4
The Corporation must prepare and submit a long-term plan to the Higher Authority when required, and may do so whenever it thinks it is expedient.
12. Long-term plans of Corporation and subsidiaries The Corporation may, whenever the Corporation considers it expedient to do so, and shall, whenever the Higher Authority requires the Corporation to do so— (a) prepare; and (b) submit to the Higher Authority; in accordance with the directions of the Higher Authority, a plan in which the Corporation shall— (i) describe the nature of the air transport services, aerial work and operations which the Corporation proposes to undertake, either by itself or through any subsidiary, during the period to which the plan relates; (ii) show the capital expenditure estimated to be required in connection with the proposed air transport services, aerial work and operations referred to in sub-paragraph (i); and (iii) indicate the requirements of the Corporation and any subsidiary for airport, meteorological and like services during the period to which the plan relates. - 13 Verify source ↗
New air transport services ................................................................................................................................................................. 4
The Corporation must not change certain air services or start a new service unless the Higher Authority approves and the Corporation is satisfied about commercial advantage or cost recovery.
13. New air transport services (1) The Corporation shall not, except with the approval of the Higher Authority— (a) alter the route or frequency of, or the type of aircraft used on, a service operated either by itself or by a subsidiary unless the Corporation is satisfied that such alteration will be to the commercial advantage of the Corporation; (b) either by itself or through any subsidiary provide any new service unless the Corporation is satisfied that such service can be operated so that its earnings will, within a reasonable period, be sufficient to cover the operating costs thereof: Provided that nothing in this section shall affect the powers conferred on the Corporation by paragraph 7 of the Schedule. (2) For the purposes of this section— "new service" means a service linking, with or without intermediate stopping points, two terminal points not previously linked by a service operated by the Corporation or the Central African Airways Corporation established by the *Central African Airways Corporation Act, 1960, of the Legislature of the former Federation of Rhodesia and Nyasaland; "service" means an air transport service. [As amended by S.I. No. 153 of 1965] - 14 Verify source ↗
Exemption from taxes ......................................................................................................................................................................... 4
The Corporation and any subsidiary are exempt from tax on income or profits.
14. Exemption from taxes The Corporation and any subsidiary shall be exempt from any tax on income or profits. * Repealed by Act No. 15 of 1965. By Laws.Africa and contributors. Licensed under CC-BY. Share widely and freely. 4 Central African Civil Air Transport Act, 1964 (Chapter 451) Zambia - 15 Verify source ↗
Accounts of Corporation ...................................................................................................................................................................... 5
The Corporation must keep proper books of account and other records.
15. Accounts of Corporation The Corporation shall keep proper books of account and other records in relation thereto and to all its air transport services, aerial work, operations and property. - 16 Verify source ↗
Appointment of auditors and audit of Corporation's accounts ............................................................................................. 5
The Corporation must appoint auditors with the Higher Authority’s approval, give them the books and records they need, and auditors may ask members, employees, and subsidiary staff for needed information.
16. Appointment of auditors and audit of Corporation's accounts (1) The Corporation shall, with the approval of the Higher Authority, appoint one or more persons who publicly carry on the profession of accountants, hereinafter referred to as the auditors, to examine and report to the Corporation and the Higher Authority on the accounts of the Corporation not less than once in each financial year. (2) In addition to the report referred to in subsection (1), the Higher Authority may require the Corporation to obtain from the auditors such other reports, statements or explanations in connection with the accounts, air transport services, aerial work, operations or property of the Corporation as the Higher Authority may consider expedient. (3) The Corporation shall produce and lay before the auditors all books and accounts of the Corporation, with all vouchers in support thereof and all books, papers and writing in its possession or control relating thereto. (4) The auditors shall be entitled at all reasonable times to require from all members and employees of the Corporation and all officers and employees of any subsidiary such information and explanations as may be necessary for the performance of their duties as auditors. - 17 Verify source ↗
Duties of auditors .................................................................................................................................................................................. 5
Auditors must certify, at least once every financial year, certain matters about the information they received, the keeping of the Corporation’s accounts, and whether the accounts give a true and fair view.
17. Duties of auditors It shall be the duty of the auditors to certify not less than once in each financial year whether or not— (a) they have received all the information and explanations which, to the best of their knowledge and belief, were necessary for the performance of their duties as auditors; (b) the accounts of the Corporation have been properly kept; (c) the accounts of the Corporation present a true and fair view of the financial position of the Corporation according to the information and explanations given and the books and records produced to them. Part III – Functions of Corporation
Part
Part III – Functions of Corporation
- 18 Verify source ↗
Functions of Corporation .................................................................................................................................................................... 5
The Corporation must carry out aerial work and may also carry out related operations connected with air transport services or aerial work, subject to the Act.
18. Functions of Corporation In addition to those specified in the Order in Council, the functions of the Corporation shall, subject to the provisions of this Act, be to— (a) carry out aerial work; and (b) carry out such operations as, in the opinion of the Corporation, are incidental, ancillary or conducive to or are capable of being carried out in conjunction with the provision of air transport services or the carrying out of aerial work. - 19 Verify source ↗
Subsidiaries .............................................................................................................................................................................................. 5
The Corporation may set up wholly owned subsidiary private limited companies and delegate functions to them, and it may revoke that delegation at any time.
19. Subsidiaries (1) For the better performance of its functions, the Corporation may establish one or more wholly owned subsidiary private limited companies in terms of the Companies Act, and may delegate thereto such of its functions as it thinks fit. Any such delegation may be revoked by the Corporation at any time. By Laws.Africa and contributors. Licensed under CC-BY. Share widely and freely. 5 Central African Civil Air Transport Act, 1964 (Chapter 451) Zambia (2) For the purposes of subsection (1), "wholly owned subsidiary private limited company" means a private limited company which has no members except the Corporation and the Corporation's nominees. [Cap. 388] - 20 Verify source ↗
Powers of Corporation ......................................................................................................................................................................... 6
The Corporation has power, subject to the Act, to do the things listed in the Schedule, either alone or with others, and either absolutely or conditionally.
20. Powers of Corporation The Corporation shall, subject to the provisions of this Act, have power to do all or any of the things specified in the Schedule either absolutely or conditionally and either solely or jointly with others. - 21 Verify source ↗
By-laws of Corporation ........................................................................................................................................................................ 6
The Corporation may make by-laws for its operations, property, and employee service conditions, but certain by-laws only take effect after approval by the Higher Authority and publication in the Gazette.
21. By-laws of Corporation (1) The Corporation may make by-laws for— (a) the good management and conduct of the air transport services, aerial work, operations and property; and (b) the conditions of service of employees; of the Corporation or any subsidiary and for any other matter which, in the opinion of the Corporation, is necessary or convenient to be provided in connection therewith. (2) Any such by-laws made for the protection of the aircraft and other property, or the conduct and discipline of employees, of the Corporation or any subsidiary— (a) may provide for the imposition of penalties for breaches of the by-laws and for different penalties in the case of successive breaches, but no penalty shall— (i) (ii) in the case of a first conviction, exceed a fine of three hundred penalty units or, in default of payment, imprisonment for a period of one month; in the case of a second or subsequent conviction, exceed a fine of seven hundred and fifty penalty units or, in default of payment, imprisonment for a period of three months; and (iii) in the case of a continuing offence, exceed a daily penalty of sixty penalty units; and (b) shall not have effect unless and until the by-laws have been approved by the Higher Authority and published in the Gazette. [As amended by Act No. 13 of 1994] - 22 Verify source ↗
Reports of Corporation ........................................................................................................................................................................ 6
The Corporation may send additional reports to the Higher Authority, and it must send any additional reports the Higher Authority requires.
22. Reports of Corporation In addition to the annual report mentioned in section eleven, the Corporation— (a) may submit to the Higher Authority such other reports as the Corporation may deem advisable; and (b) shall submit to the Higher Authority such other reports as the Higher Authority may require; in regard to the air transport services, aerial work, operations and property of the Corporation. By Laws.Africa and contributors. Licensed under CC-BY. Share widely and freely. 6 Central African Civil Air Transport Act, 1964 (Chapter 451) Zambia Part IV – Miscellaneous provisions
Part
Part IV – Miscellaneous provisions
- 23 Verify source ↗
Restriction on use of name of Corporation ................................................................................................................................. 7
A person must not use or register certain restricted company/business names without written approval from the Higher Authority.
23. Restriction on use of name of Corporation No person shall, on or after the commencement of this Act, assume for the purposes of business, or be registered in terms of the Companies Act, under— (a) a name which includes with the word "airline" or "airways" the word or words "Central African", "national", "Malawi", "Malawian", "Rhodes", "Rhodesia", "Rhodesian", "state", "Zambia" or "Zambian"; or (b) the name "Central African Airways Corporation" or a name so nearly resembling "Central African Airways Corporation" as to be likely to be mistaken for it; without the written approval of the Higher Authority. [As amended by S.I. No. 153 of 1965] [Cap. 388] - 24 Verify source ↗
Proceedings on non-compliance by Corporation ....................................................................................................................... 7
If the Higher Authority thinks the Corporation has not complied, it may require the Corporation to fix the default within a set time.
24. Proceedings on non-compliance by Corporation (1) (2) If at any time it appears to the Higher Authority that the Corporation has failed to comply with the provisions of the Order in Council or this Act or a direction given to the Corporation in terms of the Order in Council or this Act, it may, by notice in writing, require the Corporation to make good the default within a specified time. If the Corporation fails to comply with such notice, the Higher Authority may apply to the High Court for an order compelling the Corporation to remedy the default and the High Court may make such order on the application as it thinks fit. Schedule (Section 20) Powers of Corporation
Part
Schedule (Section 20)
- 1 Verify source ↗
Short title .................................................................................................................................................................................................... 1
The Corporation may acquire, build, and arrange premises and property needed or convenient for carrying out its functions.
1. To acquire, establish and construct workshops, hangars, offices and other premises necessary or convenient for the performance of the functions of the Corporation, and for that purpose, to buy, take on lease or in exchange, hire or otherwise acquire immovable property and interests therein and rights over the same and concessions, grants, rights, powers and privileges in respect thereof. - 2 Verify source ↗
Interpretation ............................................................................................................................................................................................. 1
The provision states the ability to acquire, lease, exchange for, or invest in the business, property, and liabilities of an air transport business, and to carry on, liquidate, or wind it up.
2. To acquire, take on lease or in exchange or invest in all or part of the business, property and liabilities of any company, society, partnership or person formed to carry on air transport services, aerial work or operations, and to carry on or liquidate or wind up such a business or undertaking. - 3 Verify source ↗
Conduct of financial affairs of Corporation and subsidiaries ................................................................................................... 2
The Corporation may acquire movable property, including aircraft, vehicles, machinery, plant, and apparatus, if needed or useful for carrying out its functions.
3. To buy, take in exchange, hire or otherwise acquire movable property including aircraft, vehicles, machinery, plant and apparatus necessary or convenient for the performance of the functions of the Corporation. - 4 Verify source ↗
Charges to revenue account of Corporation .................................................................................................................................. 2
Property acquired by the Corporation may be maintained, altered, and improved.
4. To maintain, alter and improve property acquired by the Corporation. - 5 Verify source ↗
Establishment and operation of general reserve and capital reserve of Corporation ..................................................... 2
The Corporation may acquire and use patents, licences, concessions, and similar rights to use information or processes.
5. To apply for, buy or otherwise acquire patents, licences, concessions or the like conferring an exclusive or non-exclusive or limited right to use information or a process which may seem to the Corporation capable of being used for the purposes of the Corporation or the acquisition of which may seem to the Corporation calculated, directly or indirectly, to benefit the Corporation, and to use, exercise, develop and grant licences in respect of or otherwise turn to account rights, information and processes so acquired. - 6 Verify source ↗
Budget of revenue and expenditure ................................................................................................................................................. 2
This section concerns obtaining or granting rights or concessions connected with air transport services, aerial work, and operations.
6. To obtain from or grant to a government or any person whatsoever and gratuitously or otherwise, rights or concessions in connection with air transport services, aerial work and operations. By Laws.Africa and contributors. Licensed under CC-BY. Share widely and freely. 7 Central African Civil Air Transport Act, 1964 (Chapter 451) Zambia - 7 Verify source ↗
Meeting of deficiencies .......................................................................................................................................................................... 3
It allows agreements with a government or any person for air transport services and aerial work and operations, but if the agreement makes that government or person responsible for certain losses, the agreement needs approval from the Higher Authority.
7. To enter into agreements with a government or any person whatsoever in connection with the provision of air transport services and the carrying out of aerial work and operations: Provided that where any such agreement provides for such government or person assuming responsibility, in certain circumstances, for any losses incurred by the Corporation in the provision of an air transport service, such agreement shall be subject to the approval of the Higher Authority. - 8 Verify source ↗
Budget of capital expenditure ............................................................................................................................................................ 3
The Corporation may deal with assets it does not need for its purposes, including selling, exchanging, leasing, mortgaging, disposing of, or turning them to account.
8. To sell, exchange, lease, mortgage, dispose of, turn to account or otherwise deal with assets of the Corporation or any part thereof, which are not required for the purposes of the Corporation, for such consideration as the Corporation may determine. - 9 Verify source ↗
Government to supply additional capital ....................................................................................................................................... 3
The provision authorizes the listed negotiable and transferable instruments to be drawn, made, accepted, endorsed, discounted, executed, and issued for the Corporation’s business.
9. To draw, make, accept, endorse, discount, execute and issue for the purpose of the business of the Corporation promissory notes, bills of exchange, bills of lading, securities and other negotiable and transferable instruments. - 10 Verify source ↗
Borrowing ................................................................................................................................................................................................. 3
The Corporation must insure against losses, damages, risks, and liabilities it may incur.
10. To insure against losses, damages, risks and liabilities which the Corporation may incur. - 11 Verify source ↗
Annual report .......................................................................................................................................................................................... 4
The Corporation may make, change, or cancel contracts, suretyships, and guarantees when doing so is connected to its functions.
11. To make contracts and to enter into suretyships or give guarantees in connection with the performance of the functions of the Corporation and to modify or rescind such contracts and to modify or rescind such suretyships or guarantees. - 12 Verify source ↗
Long-term plans of Corporation and subsidiaries ..................................................................................................................... 4
This provision says money may be raised, temporarily or otherwise, subject to the Act.
12. Subject to the provisions of this Act, to raise moneys, temporarily or otherwise. - 13 Verify source ↗
New air transport services ................................................................................................................................................................. 4
The Corporation may invest its money and later vary or realise those investments.
13. To invest moneys of the Corporation and to vary or realise investments so made. - 14 Verify source ↗
Exemption from taxes ......................................................................................................................................................................... 4
The Corporation may appoint and employ persons on terms and conditions it thinks fit, and may dismiss them.
14. To appoint and employ such persons on such terms and conditions as the Corporation thinks fit, and to dismiss them. - 15 Verify source ↗
Accounts of Corporation ...................................................................................................................................................................... 5
The Corporation may, if it thinks fit, pay employees remuneration and allowances, give leave of absence, and make gifts or bonuses.
15. To pay such remuneration and allowances, grant such leave of absence and make such gifts, bonuses and the like to employees of the Corporation as the Corporation thinks fit. - 16 Verify source ↗
Appointment of auditors and audit of Corporation's accounts ............................................................................................. 5
The Corporation may provide retirement and other pecuniary benefits for its employees and their dependants, including by insurance policies and pension or provident funds.
16. To provide pecuniary benefits for employees of the Corporation on their retirement, resignation, discharge or other termination of service or in the event of their sickness or injury and for their dependants, and for that purpose to effect policies of insurance, establish pension or provident funds or make such other provision as may be necessary to secure for such employees and their dependants any or all of the pecuniary benefits to which the provisions of this paragraph relate. - 17 Verify source ↗
Duties of auditors .................................................................................................................................................................................. 5
The Corporation may buy, lease, exchange, or otherwise acquire dwelling-houses for its employees to occupy.
17. To purchase, take on lease or in exchange or otherwise acquire dwelling-houses for occupation by employees of the Corporation. - 18 Verify source ↗
Functions of Corporation .................................................................................................................................................................... 5
The Corporation may buy land and build dwelling-houses on it for its employees.
18. To purchase land and construct thereon dwelling-houses for occupation by employees of the Corporation. - 19 Verify source ↗
Subsidiaries .............................................................................................................................................................................................. 5
This provision concerns selling or leasing dwelling-houses and land for residential use to employees of the Corporation.
19. To sell or lease dwelling-houses and land for residential purposes to employees of the Corporation. - 20 Verify source ↗
Powers of Corporation ......................................................................................................................................................................... 6
The Corporation may guarantee loans made to its employees for housing or residential land purposes.
20. To guarantee loans made to employees of the Corporation for the purchase of dwelling-houses or land for residential purposes, the construction of dwelling-houses and the improvement of dwelling-houses or land which are the property of employees of the Corporation. - 21 Verify source ↗
By-laws of Corporation ........................................................................................................................................................................ 6
The Corporation may invest money by depositing securities to provide security for the loans described in paragraph 20.
21. To provide security in respect of loans such as are described in paragraph 20 by the deposit of securities in which the Corporation is hereby authorised to invest such moneys as it may deem necessary for the purpose. By Laws.Africa and contributors. Licensed under CC-BY. Share widely and freely. 8
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Central African Civil Air Transport Act, 1964
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