Council of Ministers Regulation No. 175/2002
COUNCIL OF MINISTERS REGULATION TO
PROVIDE FOR THE ESTABLISHMENT OF GENET
The Regulations is issued by the council of Ministers pursuant to Article 5 of the Definition of Powers and Duties of the Executive Organs of the Federal Democratic Republic of Ethiopia Proclamation No. 471/2005 and Article 47 (1) (a) of the Public Enterprises Proclamation No. 25/1992.
1. Short Title
This Regulation may be cited as the “Genet Hotel Enterprise Establishment Council of Ministers Regulation No. 175/2009.”
1. The Genet Hotel Enterprise (hereinafter the “Enterprise”) is hereby established as a public enterprise.
2. The Enterprise shall be governed by the Public Enterprises proclamation No. 25/1992.
3. Supervising Authority
The Catering and Tourism Training Center shall be the supervising authority of the Enterprise.
4. Head office
The Enterprise shall have its head office in Addis Ababa and may have branch offices elsewhere as may be necessary.
The purpose of the Enterprise shall be to engage in the business of hotel and related services and serve as a model hotel for training in catering and tourism.
The authorized capital of the Enterprise is Birr 40,000,000.00 (Forty Million Birr) or which Birr 9,926,713.00 (Nine Million Nine Hundred Twenty Six Thousand Seven Hundred Thirteen Birr) is paid up in cash and in kind.
The Enterprise shall not be liable beyond its total assets.
8. Duration of the Enterprise
The Enterprise is established for an indefinite duration.
9. Transfer of Rights and Obligations
The rights and obligations of Ras Hotels Enterprise relating to Genet Hotel are hereby transferred to the Enterprise.
10. Effective Date
This Regulation shall come into force up on the date of publication in the Federal Negarit Gazeta.
Done at Addis Ababa, this 17th day of March 2010.
PRIME MINISTER OF THE FEDERAL DEMOCRATIC
REPUBLIC OF ETHIOPIA