COUNCIL OF MINISTERS REGULATION NO 29/1998
COUNCIL OF MINISTERS REGULATION TO PROVIDE
FOR THE ESTABLISHMENT OF THE GUMARO TEA
These regulation are 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. 4/1995 and Article 47(1) (a) of the Public Enterprises Proclamation No. 25/1992.
1. Short Title
These Regulations may be cited as the “Gumaro Tea Development enterprise Establishment Council of Ministers Regulation No. 290/1998.”
1. There is hereby established the Gumaro Tea Development Enterprise (hereinafter ‘the Enterprise’) 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 Gumaro and may have branch offices elsewhere as may be necessary.
The purposes for which the Enterprise is established are:
1. To engage in the development of tea plantations;
2. To engage in the preliminary processing of tea;
3. To engage in any other related activities conducive to the attainment of its objectives.
The authorized Capital of the Enterprise is Birr 26,372,000 (twenty six million three hundred seventy two thousand Birr) of which Birr 13,186,490 (Thirteen million one hundred eighty six thousand four hundred ni9nety Birr) is paid up in cash and in kind.
The Enterprise shall not be held liable beyond its total assets.
The Enterprise is established for an indefinite duration.
9. Effective Date
These regulation shall enter into force on the date of their publication in the federal Negarit Gazeta.
Done at Addis Ababa, this 2th day of February, 1998.
PRIME MINISTER OF THE FEDERAL
DEMOCRATIC REPUBLIC OF ETHIOPIA