COUNCIL OF MINISTERS REGULATIONS NO 38/1998 COUNCL OF MINISTERS REGULATIONS TO PROVIDE FOR THE ESTABLISHEMNT OF ADDIS METAL PRESSINGS ENTERPRISE
These Regulations 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.
These regulations may be cited as the “Addis Metal Pressings Enterprise Establishment Council of Ministers Regulations No. 38/1998.”
1) There is hereby established the Addis Metal Pressings Enterprise (hereinafter “the Enterprise”) as a public Enterprise.
2) The Enterprise shall be governed by the Public Enterprises Proclamation No. 25/1992.
A body to be designated by the Government shall be the Supervising Authority of the Enterprise.
The Enterprise shall have its head office in Addis Ababa and may have branch offices elsewhere, as my and necessary.
The purpose for which the enterprise is established are:
1) To manufacture products of various metal pressings;
2) To utilize excess capacity of the auxiliary services and produce other marketable products;
3) To render heat treatment, maintenance, plaiting and other workshop service;
4) To engage in any other related activities conducive to the attainment of its purpose.
The authorized capital of the Enterprise is Birr 111,216,000 (one hundred eleven million two hundred sixteen thousand birr) of which birr 76,216,000 (seventy six million two hundred sixteen thousand 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. Transfer of Rights and Obligations
The rights and obligations of the Basic Metals and Engineering Industry Agency relating to the Addis Machine Tools Factory are hereby transferred to the Enterprise.
10. Effective Date
These Regulations shall enter into force as of the date of their publication in the Federal Negarit Gazeta.
Done at Addis Ababa, this 26th day of June, 1998.
MELES ZENAWI PRIME MINISTER OF THE FEDERAL DEMOCRATIC REPUBLIC OF ETHIOPIA