COUNCIL OF MINISTERS REGULATION NO. 26/1998
COUNCIL OF MINISTERS REGULATION TO
PROVIDE FOR THE ESTABLISHMENT OF
ZUQUALLA STEEL ROLLING MILL ENTERPRISE
The Council of Ministers issued these regulation pursuant to Article 5 of the Definition of Powers and Duties of the Executive Organs of the Federal Democratic Republic of Ethiopia Proclamation No. 4/1995 and Article 47(1)(a) of the Public Enterprises Proclamation No. 25/1992
1. Short Title
These regulation may be cited as the “Zuqualla Steel Rolling Mill Enterprise Establishment Council of Ministers regulation No. 26/1998
1. Zuqualla Steel Rolling Mill 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
A body to be designated by the Government shall be the supervising authority of the Enterprise.
4. Head Office
The Enterprise shall have its head office in Debre Zeit and may have branch offices elsewhere as may be necessary
The purposes of the Enterprise shall be to manufacture and supply reinforcement bars and structural steel and to engage in other related activities conducive to the attainment of its purposes.
The authorized capital of the Enterprise shall be Birr 233,841,692.71 (two hundred thirty three million eight hundred forty one thousand six hundred ninety two Birr and seventy one cents) of which Birr 83,841,692.71 (eighty three million eight hundred forty one thousand six hundred ninety two Birr and seventy one cents) is paid up in cash and in kind.
The Enterprise shall not be liable beyond its total assets.
These regulation shall enter into force on the date of their publication in the Federal Negarit Gazeta.
Done Addis Ababa, this 3rd day of February, 1998.
PRIME MINISTER OF THE FEDERAL
DEMOCRATIC REPUBLIC OF ETHIOPIA