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National Development Corporation (Establishment) Order, 1969

Government Notice 90 of 1969

National Development Corporation (Establishment) Order, 1969
Citation
Government Notice 90 of 1969
Primary work
Public Corporations Act
Date
31 July 2002
Language
English
Type
Government Notice
Collections
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Tanzania
Public Corporations Act

National Development Corporation (Establishment) Order, 1969

Government Notice 90 of 1969

  • Published in Tanzania Government Gazette
  • Commenced
  • [This is the version of this document at 31 July 2002.]
  • [Note: This legislation was revised and consolidated as at 31 July 2002 and 30 November 2019 by the Attorney General's Office, in compliance with the Laws Revision Act No. 7 of 1994, the Revised Laws and Annual Revision Act (Chapter 356 (R.L.)), and the Interpretation of Laws and General Clauses Act No. 30 of 1972. All subsequent amendments have been researched and applied by Laws.Africa for TANZLII.]

1. Citation

This Order may be cited as the National Development Corporation (Establishment) Order.

2. Interpretation

In this Order, unless the context requires otherwise—"Act" means the Public Corporations Act1;1Cap. 257"Board" means the Board of Directors provided for in paragraph 5;"Corporation" means the National Development Corporation established by paragraph 3;"Minister" means the Minister responsible for industries.

3. Establishment of the Corporation

There is hereby established a public corporation to be known as the National Development Corporation.

4. Functions of the Corporation

The functions of the Corporation shall be—
(a)to promote the development of manufacturing, processing and mining industries;
(b)to conduct or engage in the businesses of manufacturers, processors, producers, packers, craftsmen, engineers, assemblers, tanners, brewers, millers, miners and any other businesses relating to industrial activities or the use of mineral resources which the Board may from time to time decide;
(c)to establish branches and vary on business either within the United Republic or elsewhere;
(d)to acquire by agreement and hold interests in any undertaking, enterprise or project associated with industrial development;
(e)to manage the affairs of any corporation, company, firm or other body the interests of which are transferred to or acquired by the Corporation under the provisions of the Act or this Order;
(f)to do all other acts and things which may be necessary to uphold and support the credit of the Corporation and to obtain and justify public confidence, and to avert or minimise any loss to the Corporation;
(g)to do anything or enter into any transaction which, in the opinion of the Board, is calculated to facilitate the proper and efficient carrying on of its activities and the proper performance of its functions as specified in this paragraph.

5. Management vested in Board of Directors

(1)The management of the Corporation is hereby vested in a Board of Directors.
(2)The Board shall consist of—
(a)a Chairman who shall be appointed by the President;
(b)other members being not less than five nor more than nine which the Minister may appoint, one of whom he shall nominate as its Vice-Chairman.
(3)There shall be a General Manager of the Corporation who shall be appointed by the President.
(4)The Board may from time to time appoint on the terms and conditions which it thinks fit such officers and servants of the Corporation who may be necessary for conducting the business of the Corporation.
(5)The Chairman and other members of the Board shall be entitled to such allowances and at such rates as the Minister may from time to time prescribe.
(6)The Minister may make regulations with respect to—
(a)the appointment of and the tenure and vacation of office by the members of the Board;
(b)the quorum, proceedings and meeting of the Board and determinations of the Board.
(7)Subject to the provisions of any regulation made under subparagraph (6) the Board shall have power to regulate its own procedure.

6. Salaries, etc., to be paid out of Corporation's funds

All salaries, fees and any other allowances payable to the Chairman, a member of the Board, the general manager and other officers and servants of the Corporation, shall be paid out of the funds of the Corporation.

7. The seal of the Corporation

(1)The seal of the Corporation shall be affixed by the Chairman, the Vice-Chairman or the General Manager and witnessed by one other member of the Board.
(2)All contracts, guarantees, agreements, bonds, authorities, mortgages, charges, bills of exchange, promissory notes, bank drafts, letters of credit, securities and any other instruments to which the Corporation is a party, shall be executed on behalf of the Corporation—
(a)by the general manager and a member of the Board; or
(b)by any other person or persons who may be authorised by the Board in that behalf:
Provided that the General Manager may, in writing, delegate his function under this subparagraph to any officer of the Corporation.

8. Board may act notwithstanding vacancy

Subject to the provisions of any regulations relating to quorum made under subparagraph (6) of paragraph 5, the Board may act notwithstanding any vacancy in its membership and no act or proceeding of the Board shall be invalid by reason only of some defect in the appointment of a member or a person who purports to be a member, or, where such regulations provide for the appointment of an alternate member, in the appointment of that alternate member or a person who purports to be the alternate member.

9. Borrowing powers

The Corporation may from time to time borrow any sums of money which it may require of the to meet any of its obligations or for the Corporation purposes of its business.

10. Delegation of powers

(1)[Superseded by section 7 of R.E. Cap. 257]
(2)The Minister is hereby designated as the Minister for the purposes of the provisions of subsection (3) of section 35 of the Act which relates to the accounts of the Corporation.
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History of this document

31 July 2002 this version
Consolidation

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Act 1
1. Public Corporations Act 127 citations

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