FEDERAL NEGARIT GAZETA OF THE FEDERAL DEMOCRATIC REPUBLIC OF ETHIOPIA 6th Year No. 2 Addis Ababa – 22nd October. 1999
COUNCIL OF MINISTERS REGULATION NO. 58/1999
COUNCIL OF MINISTERS REGULATIONS TO PROVIDE FOR THE RE-ESTABLISHMENT OF THE ETHIOPIAN GRAIN TRADE ENTERPRISE
These Regulations are issued by the Council of Minister pursuant to Article 5 of the Definitions of Powers and Duties of the Executive Organs of the Federal Democratic Republic of Ethiopia Proclamation No. 4/1995 and Article 47/1/(d) of the Public Enterprises Proclamation No. 25/1992.
- Short Title
These Regulations may be cited as the “Ethiopian Grain Trade Enterprise Re-establishment Council of Ministers Regulations No. 58/1999.”
- The Ethiopian Grain Trade Enterprise (hereinafter “The Enterprise”) is hereby amalgamated with the Ethiopian Oil Seeds and Pulses Export Corporation and re-established as a public enterprise.
- The Enterprise shall be governed by the public Enterprises Proclamation NO. 25/1992.
- Supervising Authority
A body to be designated by the Government shall be the supervising authority of the Enterprise.
- Head Office
The Enterprise shall have its head office in Addis Ababa and may have branch offices elsewhere as may be necessary.
The purposes for which the Enterprise is established are:
- To purchase grain from farmers and sell in local and mainly in export markets;
- To contribute towards the stabilization of markets for farmers’ produces so that they will be encouraged to increase their outputs.
- To engage in other related activities conductive to the attainment of its purposes.
The authorized capital of the Enterprise shall be Birr 112,012,454 (One hundred twelve million twelve thousand four hundred fifty four Birr) of which Birr 105,047,079 (One hundred five million forty seven thousand seventy nine Birr) is paid up in cash and in kind.
The Enterprise shall not be liable beyond its total assets.
The Enterprise is established for an indefinite duration.
The Ethiopian Grain Trade Enterprise Establishment Council of Ministers Regulations No. 104/1992 is hereby repealed.
- Transfer of Rights and Obligations
The rights and obligations of the Ethiopian Grain Trade Enterprise established under Regulations No. 104/1992 and the Enterprise known as the Ethiopian Oil Seeks & Pulses Export Corporation are hereby transferred to the Enterprise.
- Effective Date
These Regulations shall enter into force on the date of their publication in the Federal Negarit Gazeta.
Done at Addis Ababa this 22nd day of October, 1999.
PRIME MINISTERS OF THE FEDERAL DEMOCRATIC REPUBLIC OF ETHIOPIA