Tanzania
Government Loans, Guarantees and Grants Act
Government Securities (Book Entry) Regulations, 1998
Government Notice 627 of 1998
- Published in Tanzania Government Gazette
- Commenced on 16 October 1998
- [This is the version of this document at 31 July 2002.]
- [Note: This legislation has been thoroughly revised and consolidated under the supervision of 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. This version is up-to-date as at 31st July 2002.]
1. Citation
These Regulations may be cited as the Government Securities (Book Entry) Regulations.2. Interpretation
In these Regulations unless the context requires otherwise—"authorised dealer" means—(a)a commercial bank licensed under the Banking and Financial Institutions Act; or(b)a dealer duly licensed under the Capital Markets and Securities Act,who meets the conditions prescribed by the Bank for participating in the book entry system for Government Securities;"the Bank" means the Bank of Tanzania;"book entry" means the entries made on a register or computer database, within the Central Depository of Securities, to record the ownership of securities;"book entry security" means any debt security issued by the Government in uncertificated form and is registered as part of an issue of the Government book entry securities;"central depository" means the Central Depository for Government Securities;"certificate" means any document that is, or is a document of title to, a security;"depositor" means a holder of a securities account;"government securities" means treasury bill, bonds or stocks issued in accordance with the Government Loans, Guarantees and Grants Act 1;"securities account" means an account established by a central depository for the recording of deposit or withdrawal of securities.3. Insurance of government securities
4. Operation and management of the central depository
5. Bank services
The Bank shall, in relation to the functioning and operation of the central depository provide or cause to be provided all such services as may be necessary for the following namely:6. Book entry securities
7. Non-disclosure of information or document
Except as provided under any written law or with the consent of the holder, no employee of or authorised agent of the central depository or any other person who has access to any information or document relating to records of securities holdings kept at the central depository shall during his tenure of office or employment or thereafter give, reveal, divulge or disclose such information or document to any person.8. Function of the Bank
9. Limitation of liability
When acting in good faith and without negligence, the Bank shall not be liable for any breach of trust, duty or loss in respect of any dealing or transaction executed on instructions of holder whether or not the holder had beneficial right in relation to the securities held at the central depository.10. Fees
The Bank may impose fees for services provided under the scheme contemplated under these Regulations.11. Transfer pledge or charge of beneficial ownership of interest in securities
12. Attachment of securities
13. Extension of application of these Regulation
The Bank may, with the consent of the Minister, and subject to any written law extend the application of these Regulations to securities issued by a public authority.History of this document
31 July 2002 this version
Consolidation
16 October 1998
Commenced