The Public Corporations Act

©2025 Government of Tanzania. All rights reserved. No part of this book may be reproduced or distributed without permission of OAG.313
CHAPTER 257
THE PUBLIC CORPORATIONS ACT
[PRINCIPAL LEGISLATION]
Arrangement of Sections
Section Title
part i
PRELIMINARY PROVISIONS
1. Short title. 2. Omitted. 3. Interpretation. part ii
ESTABLISHMENT OF PUBLIC CORPORATIONS
4. President may establish public corporation. 5. Existing public corporation. 6. Shares of newly formed public corporation. 7. Powers of responsible Minister in relation to public corporation. part iii
ADMINISTRATION OF PUBLIC CORPORATIONS
8. Principles of operation. 9. Establishment of Board of Directors. 10. Appointment of Board members of public corporations in which
Government is sole share holder. 11. Appointment of Board members of public corporations in which
Government is not sole share-holder. 12. Qualifications for appointment to Board membership. 13. Limitation of appointment to Board membership. 14. Appointment of Chief Executive of public corporation. part iv
ACCOUNTABILITY OF PUBLIC CORPORATIONS
15. Statement of corporate strategy. 16. Annual report, accounts and dividend. 17. Half yearly report. 18.

rt iv
ACCOUNTABILITY OF PUBLIC CORPORATIONS
15. Statement of corporate strategy. 16. Annual report, accounts and dividend. 17. Half yearly report. 18.

Information to be laid before National Assembly. 19. Other information.

Information to be laid before National Assembly. 19. Other information.

©2025 Government of Tanzania. All rights reserved. No part of this book may be reproduced or distributed without permission of OAG.THE PUBLIC CORPORATIONS ACT [CAP. 257 R.E. 2023]
314
20. Audit. 21. Supervision of public corporations. 22. Power of Treasury Registrar. part v
ESTABLISHMENT OF THE PRESIDENTIAL PARASTATAL
SECTOR REFORM COMMISSION
23-29. Repealed. part vi
OPERATION OF COMMISSION
30-34. Repealed. part vii
FINANCIAL PROVISION OF COMMISSION
35-39. Repealed. part viii
SPECIFIED PUBLIC CORPORATIONS AND SPECIFIED
GOVERNMENT MINORITY SHARES
40. Declaration of specified public corporation. 41. Powers of Treasury Registrar in relation to specified public corporations. 42. Duty to obtain approval. 43. Requirements of specified public corporation. 44. Repealed. 45. Duty of Board of specified public corporations. 46. Powers of Treasury Registrar in restructuring specified public corporation. 47. Specified Government minority shares. 48. Repealed. 49. Inoperative agreement. 50. Special Fund. part ix
FINANCIAL PROVISIONS
51. Accounts of public corporations in which Government is sole shareholder. 52. Audit. 53. Transfer of shares to Treasury Registrar and redemption of other shares.

f public corporations in which Government is sole shareholder. 52. Audit. 53. Transfer of shares to Treasury Registrar and redemption of other shares.

54. Conversion of loans and advances into equity.

©2025 Government of Tanzania. All rights reserved. No part of this book may be reproduced or distributed without permission of OAG.315
THE PUBLIC CORPORATIONS ACT [CAP. 257 R.E. 2023]
part x
MISCELLANEOUS AND TRANSITIONAL PROVISIONS
55. Power to reorganise public and statutory corporations.
56. Borrowing powers of public corporation in which Government is sole
share holder.
57. Powers of President to make orders.
58. Delegations of powers.
59. Contract between Treasury Registrar and public corporation.
60. Consultancy services by former holding corporations.
61. Regulations.
62. Repeal.
63. Dissolution or winding-up of public corporation.
64. Certain institutions to cease to be public corporations.
65. Transfer of liabilities.
66. Omitted.
67. Savings.

winding-up of public corporation.
64. Certain institutions to cease to be public corporations.
65. Transfer of liabilities.
66. Omitted.
67. Savings.

©2025 Government of Tanzania. All rights reserved. No part of this book may be reproduced or distributed without permission of OAG.316
PART I
PRELIMINARY PROVISIONS
1. This Act may be cited as the Public Corporations Act. 2. [Omitted.]
3. In this Act, unless the context requires otherwise-
“agent” means an intermediary such as a public corporation, a
company or any other body appointed by the Government
which owns fifty-one percent or more of the shares in
any public corporation and represents the Government
directly or indirectly;
“Board” means the Board of Directors of a public corporation;
“divesture” means the transfer of the proprietary interest in
a specified public corporation from the Government and
includes the winding-up or dissolution of the specified
public corporation;
“effective date” means the date from which the provisions of
this Act shall apply to any specified public corporation;
Short title
Omitted
Interpretation
Acts Nos.

te” means the date from which the provisions of
this Act shall apply to any specified public corporation;
Short title
Omitted
Interpretation
Acts Nos.

16 of 1993 s.2;
17 of 1999 s.2
26 of 2007 s.7
CHAPTER 257
THE PUBLIC CORPORATIONS ACT
An Act to make better provision for the establishment, management and
streamlining of public corporations and to provide for other matters
incidental to or connected with those purposes. [16th March, 1992]
[GN. No. 38 of 1992]
Acts Nos. 2 of 1992
14 of 1992
16 of 1993
2 of 1998
17 of 1999
26 of 2007
11 of 2010
10 of 2013

hose purposes. [16th March, 1992]
[GN. No. 38 of 1992]
Acts Nos. 2 of 1992
14 of 1992
16 of 1993
2 of 1998
17 of 1999
26 of 2007
11 of 2010
10 of 2013

©2025 Government of Tanzania. All rights reserved. No part of this book may be reproduced or distributed without permission of OAG.317
THE PUBLIC CORPORATIONS ACT [CAP. 257 R.E.

a. All rights reserved. No part of this book may be reproduced or distributed without permission of OAG.317
THE PUBLIC CORPORATIONS ACT [CAP. 257 R.E.

2023]
“existing law” in relation to a specified public corporation,
means the written law under which the specified public
corporation is established as it exists immediately before
the effective date, and includes any other written law or
provision of a written law which applies to the specified
public corporation;
“Government minority shares” means the equity shares or equity
stake whether voting or not, owned by the Government or
its agent;
“initial document” means the memorandum of understanding
or any other similar document detailing the understanding
reached during the negotiations with an investor;
“Minister” means the Minister responsible for finance;
“public corporation” means any corporation established under
this Act or any other law and in which the Government
or its agent owns a majority of the shares or is the sole
shareholder;
“responsible Minister” means the Minister responsible for
public corporation or the specified public corporation;
“restructuring” in relation to a specified public corporation
or specified Government minority shares, means any form
of restructuring as a result of which ownership, structure
or control of that specified public corporation or specified
Government minority shares is altered;
“Special Fund” means the Special Fund established by
section 50;
“specified Government minority shares” means the shares
specified under section 47 to be specified Government
minority shares;
“specified public corporation” means a public corporation
declared under section 40 to be a specified public
corporation;
“statement of corporate strategy” in relation to a public
corporation, means the current statement of corporate
strategy for that public corporation prepared under
section 15;

trategy” in relation to a public
corporation, means the current statement of corporate
strategy for that public corporation prepared under
section 15;

©2025 Government of Tanzania. All rights reserved. No part of this book may be reproduced or distributed without permission of OAG.THE PUBLIC CORPORATIONS ACT [CAP. 257 R.E. 2023]
318
“statutory corporation” means any body corporate including
a public corporation and a corporation sole established by
or under any written law but does not include any company
incorporated under the Companies Act where the whole of
the share capital of the company is owned by a statutory
corporation or two or more statutory corporations. PART II
ESTABLISHMENT OF PUBLIC CORPORATIONS
4.–(1) The President may, by order published in the Gazette,
establish a public corporation for the functions or purposes
which he may specify in the order. (2) A public corporation established by an order made under
this section shall-
(a) have perpetual succession and a common seal;
(b) in its corporate name, be capable of suing and being
sued; and
(c) subject to the provisions of this Act and of any order
made in that behalf by the President, be capable of
purchasing and otherwise acquiring and of alienating
any property, movable or immovable.

any order
made in that behalf by the President, be capable of
purchasing and otherwise acquiring and of alienating
any property, movable or immovable.

(3) Notwithstanding the preceding provisions of this
section, the public corporation established under this Act shall
have a duty of notifying the Attorney General of any impending
suit or intention to institute a suit or matter for or against the
public corporation. (4) The Attorney General shall, have the right to intervene
in any suit or matter instituted by or against the public
corporation. (5) Where the Attorney General intervenes in any matter in
pursuance to subsection (3), the provisions of the Government
Proceeding Act, shall apply in relation to the proceedings of
that suit or matter as if it had been instituted by or against the
Government. Cap. 212
President
may establish
public
corporation
Act No. 10 of 2013 s.54
Cap. 5

r matter as if it had been instituted by or against the
Government. Cap. 212
President
may establish
public
corporation
Act No. 10 of 2013 s.54
Cap. 5

©2025 Government of Tanzania. All rights reserved. No part of this book may be reproduced or distributed without permission of OAG.319
THE PUBLIC CORPORATIONS ACT [CAP. 257 R.E. 2023]
5. A public corporation existing on the coming into operation of
this Act shall be deemed to be established pursuant to this Act
and nothing in this Act or in any regulations made under this
Act shall be construed as to affect any provision of any existing
law or of any articles of association or any other charter or
instrument of a public corporation and those provisions shall
continue to have effect after the commencement of this Act. [s. 4A]
6. An order made under section 4 establishing a public
corporation shall specify, in addition to the functions of the
corporation-
(a) the authorised share capital;
(b) the number of shares the Government is going to
subscribe; and
(c) the manner of the allotment of shares, if any. [s. 5]
7. Where the Government is the sole shareholder the
responsible Minister may, in writing under his hand, give
the Board of Directors of the public corporation directions
of a general or specific character as to the performance of its
functions. [s.

hand, give
the Board of Directors of the public corporation directions
of a general or specific character as to the performance of its
functions. [s.

6]
PART III
ADMINISTRATION OF PUBLIC CORPORATIONS
8.–(1) A public corporation shall operate its business according to
sound commercial principles. (2) “Sound commercial principles” means the attainment of
a real rate of return on capital employed, of at least 5% or such
other figure as the Government may approve and includes the
achievement of any standards of service which may be agreed
upon between the Government and a public corporation. [s. 7]
Existing public
corporation
Act No. 16 of 1993 s.3
Shares of newly
formed public
corporation
Powers of
responsible
Minister in
relation to public
corporation
Act No. 16 of 1993 s.3
Principles of
operation
Act No. 16 of 1993 s.4

lic
corporation
Powers of
responsible
Minister in
relation to public
corporation
Act No. 16 of 1993 s.3
Principles of
operation
Act No. 16 of 1993 s.4

©2025 Government of Tanzania. All rights reserved. No part of this book may be reproduced or distributed without permission of OAG.THE PUBLIC CORPORATIONS ACT [CAP. 257 R.E. 2023]
320
9.–(1) There shall be, for each public corporation, a Board of
Directors which shall, subject to section 7 be responsible for
its policy, control, management and commercial results of the
affairs of the public corporation.

which shall, subject to section 7 be responsible for
its policy, control, management and commercial results of the
affairs of the public corporation.

(2) Without prejudice to the generality of the functions of
the Board referred to in subsection (1), the Board of Directors
may, upon the terms and conditions which it may deem fit
and for the proper and efficient conduct of the business and
activities of the public corporation-
(a) establish or cause to be established an efficient scheme
of service for the staff of the public corporation;
(b) appoint, at any salaries and upon any terms and conditions
which it may deem fit, any other officers and employees
of the public corporation whom it deems necessary or
desirable for the effective discharge of the purposes and
functions of the public corporation;
(c) establish a system designed to ensure the proper
distribution of dividends to shareholders;
(d) grant gratuities, benefits and allowances to the officers
and public employees of the public corporation; and
(e) exercise supervision over the management team of the
public corporation. [s. 8]
10.–(1) Where the Government is the sole shareholder in a
public corporation, the responsible Minister shall appoint the
members to the Board.

[s. 8]
10.–(1) Where the Government is the sole shareholder in a
public corporation, the responsible Minister shall appoint the
members to the Board.

(2) The President shall, upon advice by the responsible
Minister, appoint the Chairman of the Board of Directors. (3) Subject to subsection (1), the quorum, proceedings and
meetings of the Board of Directors and of the shareholders
shall be in accordance with the provisions of the instrument
establishing that public corporation. [s. 9]
Establishment of
Board of
Directors
Act No. 16 of 1993 s.4
Appointment of
Board members
of public
corporations
in which
Government is
sole share holder
Act No. 16 of 1993 s.4

f
Directors
Act No. 16 of 1993 s.4
Appointment of
Board members
of public
corporations
in which
Government is
sole share holder
Act No. 16 of 1993 s.4

©2025 Government of Tanzania. All rights reserved. No part of this book may be reproduced or distributed without permission of OAG.321
THE PUBLIC CORPORATIONS ACT [CAP. 257 R.E. 2023]
11. Where the Government is not the sole shareholder in a
public corporation, the appointment, composition, tenure and
vacation of office, quorum, proceedings and meetings of the
Board of Directors shall be in accordance with the provisions
of the instrument establishing the public corporation. [s. 10]
12. In appointing members of any Board of Directors of a public
corporation, the appointing authority shall have regard to the
need to appoint persons who, in addition to having a sound
integrity, are properly qualified and appropriately experienced
in relation to the business of the public corporation in question. [s. 11]
13.–(1) A person shall not be appointed to be a member of
more than three Boards at the same time, unless that member
is a member by virtue of his office. (2) Every proposed appointment shall be forwarded to the
Treasury Registrar for the purpose of giving better effect to the
provisions of this section. [s.

Every proposed appointment shall be forwarded to the
Treasury Registrar for the purpose of giving better effect to the
provisions of this section. [s.

12]
14.–(1) Where the Government or its agent is the sole
shareholder in a public corporation, the Board of Directors
shall, with the prior consent of the Minister responsible for
the parent Ministry, appoint the Chief Executive of that public
corporation. (2) Where the Government or its agent is not the sole
shareholder, the Chief Executive shall be appointed in accordance
with the agreed regulations and the Memorandum and Articles
of Association. [s. 13]
Appointment of
Board members
of public
corporations
in which
Government is
not sole share-
holder
Qualifications
for appointment
to Board
membership
Act No. 16 of 1993 s.4
Limitation of
appointment
to Board
membership
Appointment of
Chief Executive
of public
corporation
Act No. 16 of 1993 s.4

rship
Act No. 16 of 1993 s.4
Limitation of
appointment
to Board
membership
Appointment of
Chief Executive
of public
corporation
Act No. 16 of 1993 s.4

©2025 Government of Tanzania. All rights reserved. No part of this book may be reproduced or distributed without permission of OAG.THE PUBLIC CORPORATIONS ACT [CAP. 257 R.E. 2023]
322
PART IV
ACCOUNTABILITY OF PUBLIC CORPORATIONS1
15.–(1) Except as the Minister and the responsible Minister
may otherwise determine every Board of a public corporation
shall submit to the Minister, responsible Minister and the
Treasury Registrar a draft statement of corporate strategy two
months before the commencement of each financial year of
the public corporation.

nd the
Treasury Registrar a draft statement of corporate strategy two
months before the commencement of each financial year of
the public corporation.

(2) Each statement of corporate strategy shall review
performance against objectives for the two preceding years
and specify for the public corporation in respect of the current
financial year and for each of the two succeeding financial
years, the following information-
(a) the objectives of the public corporation;
(b) the nature and scope of the activities to be undertaken;
(c) the accounting policies of the public corporation;
(d) the performance targets and other measures by which
the performance of the public corporation may be
judged in relation to its objectives;
(e) an estimate of the amount or proportion of accumulated
profits and capital reserves that is intended to be
distributed to the Government;
(f) the kind of information to be provided to the Minister,
responsible Minister and the Treasury Registrar by the
public corporation during the course of those financial
years, including the information to be included in each
half-yearly report;
(g) the procedure to be followed before the public corporation
subscribes for, purchases or otherwise acquires shares
in any public corporation;
(h) any activities for which the Board seeks compensation
from the Government whether or not the Government
has agreed to provide that compensation;
1 The whole Part IV was repealed and replaced by Act No.

on
from the Government whether or not the Government
has agreed to provide that compensation;
1 The whole Part IV was repealed and replaced by Act No.

16 of 1993 s. 5. Statement of
corporate strategy
Acts Nos. 16 of 1993 s.5
26 of 2007 s.8
11 of 2010 s.21

16 of 1993 s. 5. Statement of
corporate strategy
Acts Nos. 16 of 1993 s.5
26 of 2007 s.8
11 of 2010 s.21

©2025 Government of Tanzania. All rights reserved. No part of this book may be reproduced or distributed without permission of OAG.323
THE PUBLIC CORPORATIONS ACT [CAP. 257 R.E. 2023]
(i) the Board’s estimate of the commercial value of the
Government’s investment in the public corporation
and the manner in which, and the times at which, this
value is to be reassessed; and
(j) any other matters as are agreed by the Minister, responsible
Minister and the Board. (3) The Board shall consider any comments on the draft
statement of corporate strategy that are made to it within one
month of submission by the Minister, responsible Minister
and the Treasury Registrar and shall submit the completed
statement of corporate strategy to the Minister, responsible
Minister and the Treasury Registrar.

he Treasury Registrar and shall submit the completed
statement of corporate strategy to the Minister, responsible
Minister and the Treasury Registrar.

(4) A statement of corporate strategy for a public corporation
may be modified by the Board at any time so long as the Board
has first given written notice to the Minister, responsible Minister
and the Treasury Registrar of the proposed modification and
has considered any comments made on it by the Minister,
responsible Minister and the Treasury Registrar within one
month of the date on which that notice was given. (5) All decisions relating to the operation of a public
corporation shall be made by or pursuant to the authority of the
Board in accordance with its statement of corporate strategy. (6) The Board shall be accountable to the Minister, responsible
Minister and the Treasury Registrar in the manner set out in
this Part. [s.

strategy. (6) The Board shall be accountable to the Minister, responsible
Minister and the Treasury Registrar in the manner set out in
this Part. [s.

14]
16.–(1) Within six months after the end of each financial
year of a public corporation, every Board shall submit to the
Minister, responsible Minister and the Treasury Registrar-
(a) a report on the operations of the public corporation
during that financial year;
(b) audited financial statements for that financial year
consisting of statements of financial position, profit
and loss, changes in financial position and any other
statements which may be necessary to show the financial
Annual report,
accounts and
dividend
Acts Nos. 16 of 1993 s.5
26 of 2007 s.8
11 of 2010 s.21

r
statements which may be necessary to show the financial
Annual report,
accounts and
dividend
Acts Nos. 16 of 1993 s.5
26 of 2007 s.8
11 of 2010 s.21

©2025 Government of Tanzania. All rights reserved. No part of this book may be reproduced or distributed without permission of OAG.THE PUBLIC CORPORATIONS ACT [CAP. 257 R.E. 2023]
324
position of the public corporation and the financial
results of its operation during that financial year; and
(c) the auditor’s report on those financial statements. (2) A report under subsection (1)(a) of this section shall-
(a) contain any information which is necessary to enable
an informed assessment of the operations of the public
corporation including a comparison of the performance
of the public corporation with the relevant statement of
corporate strategy; and
(b) state the dividend payable to the Government by the
public corporation for the financial year to which the
report relates. [s. 15]
17.–(1) Within two months after the end of the first half of
each financial year of a public corporation, every Board shall
deliver to the Minister, responsible Minister and the Treasury
Registrar a report on its operations during that half-year. (2) Each report required by this section shall include the
information required by the statement of corporate strategy to
be included in it. [s. 16]
18.

) Each report required by this section shall include the
information required by the statement of corporate strategy to
be included in it. [s. 16]
18.

The responsible Minister shall, soon after receiving the
reports, lay before the National Assembly the following:
(a) the statement of corporate strategy for the public
corporation for that year and the succeeding two years;
(b) the annual report and audited financial statements of
the public corporation for the preceding financial year;
and
(c) the auditor’s report on those financial statements. [s. 17]
Half yearly
report
Acts Nos. 16 of 1993 s.5
26 of 2007 s.8
11 of 2010 s.21
Information
to be laid
before National
Assembly
Act No. 16 of 1993 s.5

17]
Half yearly
report
Acts Nos. 16 of 1993 s.5
26 of 2007 s.8
11 of 2010 s.21
Information
to be laid
before National
Assembly
Act No. 16 of 1993 s.5

©2025 Government of Tanzania. All rights reserved. No part of this book may be reproduced or distributed without permission of OAG.325
THE PUBLIC CORPORATIONS ACT [CAP. 257 R.E. 2023]
19.–(1) Subject to subsection (2) every Board shall supply to
the Minister, responsible Minister and the Treasury Registrar
any information relating to the affairs of the public corporation
which the Minister, responsible Minister or the Treasury Registrar
may, from time to time, request after consultation with the
Board whether or not the information is of a kind referred to
in the statement of corporate strategy. (2) A Board shall not be obliged by subsection (1) to supply
to the Minister, responsible Minister or the Treasury Registrar
any information which in the opinion of the Board is prejudicial
to the interests of the public corporation, a customer or an
employee of the public corporation. (3) Subject to subsection (2), where the Board refuses to
supply the information required, it shall give reasons in writing
for that decision. [s. 18]
20.

Subject to subsection (2), where the Board refuses to
supply the information required, it shall give reasons in writing
for that decision. [s. 18]
20.

The accounts of every public corporation shall, except
where the law establishing the public corporation provides to
the contrary, be audited annually by an independent qualified
auditor appointed by the Board. [s. 19]
21.–(1) The responsible Minister shall keep or cause to be kept
under review the business and affairs of all public corporations
in respect of which the responsible Minister has responsibility. (2) Without prejudice to the generality of subsection (1),
the responsible Minister may, in respect of a particular public
corporation, upon recommendation of the Treasury Registrar-
(a) render advice to the Government relating to the
restructuring of that public corporation, and the vesting
of any business or property in or from any that public
corporation;
(b) review the financial and operational performance of the
public corporation with a view to recommend measures
aimed at its restructuring or at the improvement of its
performance;
Other
information
Acts Nos. 16 of 1993 s.5
26 of 2007 s.8
11 of 2010 s.21
Audit
Act. No. 16 of 1993 s.5
Supervision
of public
corporations
Acts Nos. 16 of 1993 s.5
26 of 2007 s.8
11 of 2010 s.21

6 of 2007 s.8
11 of 2010 s.21
Audit
Act. No. 16 of 1993 s.5
Supervision
of public
corporations
Acts Nos. 16 of 1993 s.5
26 of 2007 s.8
11 of 2010 s.21

©2025 Government of Tanzania. All rights reserved. No part of this book may be reproduced or distributed without permission of OAG.THE PUBLIC CORPORATIONS ACT [CAP. 257 R.E.

zania. All rights reserved. No part of this book may be reproduced or distributed without permission of OAG.THE PUBLIC CORPORATIONS ACT [CAP. 257 R.E.

2023]
326
(c) consider, recommend or approve corporate or annual
plans or statements of corporate strategy of the public
corporation;
(d) to approve or adjust financial targets and other
performance criteria to be pursued by the public
corporation;
(e) evaluate, the performance and effectiveness of the chief
executive officer, Board or management committee of
the public corporation and recommend to Government
remedial or improvement measures designed to ensure
the proper and efficient utilisation of the finances and
assets of the public corporation;
(f) approve whether the public corporation may purchase
or acquire shares from or in another public corporation;
(g) cause a special examination to be made on the expenditure
of the funds of any public corporation;
(h) cause or facilitate the conduct of inquiries into the
conduct and performance of functions by officers
having control of or access to the funds employed in the
maintenance of the accounts of any public corporation;
and
(i) direct or approve the adoption, application or amendment
of financial regulations so as to ensure the proper
accounting of income and expenditures of the public
corporation. [s.

ion, application or amendment
of financial regulations so as to ensure the proper
accounting of income and expenditures of the public
corporation. [s.

20]
22.–(1) For the purpose of securing the proper management of
the properties and other investments vested in him under the
Treasury Registrar (Powers and Functions) Act, the Treasury
Registrar shall closely monitor the supervision and control of
the financial affairs of all public and statutory corporation and
may, in particular-
(a) cause a special examination to be made of the expenditure
of the funds of any public or statutory corporation;
Power of Treasury
Registrar
Act No. 11 of 2010 s.21
Cap. 370

nation to be made of the expenditure
of the funds of any public or statutory corporation;
Power of Treasury
Registrar
Act No. 11 of 2010 s.21
Cap. 370

©2025 Government of Tanzania. All rights reserved. No part of this book may be reproduced or distributed without permission of OAG.327
THE PUBLIC CORPORATIONS ACT [CAP. 257 R.E. 2023]
(b) require any corporation to make specific adjustments
of expenditure;
(c) cause or facilitate the conduct of inquiries into the
conduct and performance of functions by officers having
control of, or access to the funds or employed in the
maintenance of the accounts of any public or statutory
corporation;
(d) direct or approve the adoption, application or amendment
of financial regulations so as to ensure the proper
accounting of incomes and expenditure of public or
statutory corporation;
(e) recommend to the Minister measures designed to-
(i) minimise unproductive expenditure of funds of
public and statutory corporations; and
(ii) averting loss of funds resulting from negligence,
lack of care, theft, dishonest or otherwise.

of funds of
public and statutory corporations; and
(ii) averting loss of funds resulting from negligence,
lack of care, theft, dishonest or otherwise.

(2) Absence of provisions in any law establishing a statutory
corporation that requires the statutory corporation to comply
with the provisions of this section shall not be a defence for
the statutory corporation not to comply with any directive or
requirement made pursuant to this section. [s. 20A]
PART V
ESTABLISHMENT OF THE PRESIDENTIAL
PARASTATAL SECTOR REFORM COMMISSION
23–29. [Repealed by Act No. 26 of 2007, s. 8(f).]
[ss. 21-27]
PART VI
OPERATION OF COMMISSION
30–34. [Repealed by Act No. 26 of 2007, s. 8(f).]
[ss. 28-32]
Repealed
Repealed

No. 26 of 2007, s. 8(f).]
[ss. 21-27]
PART VI
OPERATION OF COMMISSION
30–34. [Repealed by Act No. 26 of 2007, s. 8(f).]
[ss. 28-32]
Repealed
Repealed

©2025 Government of Tanzania. All rights reserved. No part of this book may be reproduced or distributed without permission of OAG.THE PUBLIC CORPORATIONS ACT [CAP. 257 R.E. 2023]
328
PART VII
FINANCIAL PROVISIONS OF THE COMMISSION
35–39. [Repealed by Act No. 26 of 2007, s. 8(f).]
[ss. 33-37]
PART VIII
SPECIFIED PUBLIC CORPORATIONS AND
SPECIFIED GOVERNMENT MINORITY SHARES
40.–(1) The Minister may, by order published in the Gazette,
declare a public corporation to be a specified public corporation
to which the provisions of this Act shall apply. (2) An order made under subsection (1) shall specify the
effective date on which this Act shall apply to the specified
public corporation. (3) The Minister may, by order published in the Gazette,
amend, vary or replace any order made under this section. [s. 38]
41.–(1) Where a public corporation has been declared a
specified public corporation, the Treasury Registrar shall, from
the effective date, be responsible for the restructuring of that
specified public corporation.

public corporation, the Treasury Registrar shall, from
the effective date, be responsible for the restructuring of that
specified public corporation.

(2) Without limiting the generality of subsection (1), the
Treasury Registrar may, in respect of any specified public
corporation-
(a) cause a detailed financial and operational analysis of
the specified public corporation to be carried out;
(b) determine the means by which the restructuring of the
specified public corporation may be implemented;
(c) cause a valuation of the assets of the specified public
corporation to be carried out;
Repealed
Declaration of
specified public
corporation
Acts Nos. 16 of 1993 s.5
26 of 2007 s.8
Powers of
Treasury
Registrar in
relation to
specified public
corporations
Acts Nos. 16 of 1993 s.5
26 of 2007 s.8
GN. No. 203 of 2014

5
26 of 2007 s.8
Powers of
Treasury
Registrar in
relation to
specified public
corporations
Acts Nos. 16 of 1993 s.5
26 of 2007 s.8
GN. No. 203 of 2014

©2025 Government of Tanzania. All rights reserved. No part of this book may be reproduced or distributed without permission of OAG.329
THE PUBLIC CORPORATIONS ACT [CAP. 257 R.E.

a. All rights reserved. No part of this book may be reproduced or distributed without permission of OAG.329
THE PUBLIC CORPORATIONS ACT [CAP. 257 R.E.

2023]
(d) invite expressions of interest from potential purchasers
or lessors of the specified public corporation or of the
assets of that public corporation;
(e) publish guidelines for bidding and valuation procedures
and criteria for the selection of purchasers or lessors;
(f) determine the price at which the shares in or the assets
of the specified public corporation may be purchased
or leased;
(g) hold discussions with the members of the Board and
officers and employees or their representatives of the
specified public corporation with a view to achieving
a fair, reasonable and harmonious restructuring of that
specified public corporation;
(h) determine, in consultation with responsible ministries,
fair and reasonable severance, pension and other payment
arrangements that may be appropriate following a
restructuring of the specified public corporation;
(i) negotiate and cause to be executed any agreements
which may be necessary with any party for the purchase,
lease, management or control of shares in or assets of
the specified public corporation;
(j) negotiate and cause to be executed any agreements,
which may be necessary, with any party for the purchase,
settlement or discharge of the liabilities or any other
indebtedness of the specified public corporation;
(k) cause proceedings for the recovery of any debt owned
to or by a specified public corporation or for the
winding-up, liquidation or dissolution of the specified
public corporation to be initiated; and
(l) do all other acts which may be required to effect the
restructuring of any specified public corporation.

d
public corporation to be initiated; and
(l) do all other acts which may be required to effect the
restructuring of any specified public corporation.

[s. 39]

[s. 39]

©2025 Government of Tanzania. All rights reserved. No part of this book may be reproduced or distributed without permission of OAG.THE PUBLIC CORPORATIONS ACT [CAP. 257 R.E. 2023]
330
42.–(1) Where the restructuring of a specified public
corporation involves a change in the ownership structure of
that specified public corporation, the Treasury Registrar shall
first obtain the approval of the Government before entering
into any agreement with any third party in respect of the
restructuring of that specified public corporation. (2) Where the restructuring of a specified public corporation
does not involve a change in the ownership structure of that
corporation, the Treasury Registrar shall have the authority to
approve the restructuring on the terms and conditions which
it may determine. (3) The responsible Minister shall cause to be prepared and
submitted to the Government for its approval, all the relevant
initial documents signed by the Treasury Registrar and the
potential investor within the period not exceeding thirty
days, thereafter the Minister shall cause to be prepared and
submitted to the Government for its approval all the relevant
initial documents within fourteen days.

fter the Minister shall cause to be prepared and
submitted to the Government for its approval all the relevant
initial documents within fourteen days.

[s. 40]
43.–(1) A specified public corporation shall-
(a) carry out any direction, made by the responsible Minister
for preparing the public corporation or specified public
corporation for divestiture;
(b) keep up to date all business records and books of account;
(c) upon specification and within the time frame stipulated
in writing by the responsible Minister, transfer to the
Treasury Registrar all documents evidencing ownership
of the title, including certificates of titles, registration
cards for all movable and immovable assets, and any
other document as specified by the responsible Minister;
(d) prepare two to three year’s investment and financing
plans and a manpower development plan;
(e) prepare statutory accounts and cause them to be audited
not later than four months after each financial year and
provide authenticated copies thereof to the Treasury
Registrar within one month after completion of the audit;
Duty to obtain
approval
Acts Nos. 16 of 1993 s.5
17 of 1999 s.9
26 of 2007 s.8
GN. No. 203 of 2014
Requirements of
specified public
corporation
Acts Nos. 17 of 1999 s.10
26 of 2007 s.8
GN. No. 203 of 2014

1999 s.9
26 of 2007 s.8
GN. No. 203 of 2014
Requirements of
specified public
corporation
Acts Nos. 17 of 1999 s.10
26 of 2007 s.8
GN. No. 203 of 2014

©2025 Government of Tanzania. All rights reserved. No part of this book may be reproduced or distributed without permission of OAG.331
THE PUBLIC CORPORATIONS ACT [CAP. 257 R.E.

a. All rights reserved. No part of this book may be reproduced or distributed without permission of OAG.331
THE PUBLIC CORPORATIONS ACT [CAP. 257 R.E.

2023]
(f) maintain a fixed asset register which shall be reconciled
with the financial statement;
(g) not perform any action that would result in the assets of
the company being dissipated, mortgaged or collaterised
without the express approval of the Treasury Registrar;
(h) not undertake any new capital investment programmes,
unless a project appraisal document approved by the
Treasury Registrar, has been prepared showing that-
(i) routine plant, equipment and vehicle renewal is
required;
(ii) rehabilitation expenditure is essential to keep the
operations of the specified public corporation
running or to improve the marketability of the
enterprise;
(iii) new capital investment has a pay back period of
less than two years; and
(iv) the specified public corporation demonstrates that
the investment will not result in a deterioration of
the company’s operations;
(i) clear as far as practicable all contractual, legal and
other obligations which hinder or may hinder smooth
divestiture;
(j) not give any person who is not an employee of the
Treasury Registrar information which might give undue
advantage to that person or any potential investor;
(k) disclose all or any information about the enterprise
when required by the Treasury Registrar;
(l) refrain from taking any action or omit to do any act
which may cause industrial unrest;
(m) not enter into any lease, loan, credit agreement, settlement
or compromise arrangement without the approval of
the Treasury Registrar;
(n) not institute a suit intended to challenge or stop the
Treasury Registrar from proceeding with the divestiture
of any specified public corporation without the approval
of the Treasury Registrar.

r stop the
Treasury Registrar from proceeding with the divestiture
of any specified public corporation without the approval
of the Treasury Registrar.

©2025 Government of Tanzania. All rights reserved. No part of this book may be reproduced or distributed without permission of OAG.THE PUBLIC CORPORATIONS ACT [CAP. 257 R.E. 2023]
332
(2) A person or officer of a specified public corporation who
knowingly contravenes subsection (1), commits an offence
and on conviction shall be liable to a fine not exceeding one
million shillings or to a term of imprisonment not exceeding
five years or to both. (3) A specified public corporation shall be exempt from all or
any of the provisions of the Land Act. [s. 40A]
44. [Repealed by Act No. 26 of 2007, s. 8(k)]
[s. 41]
45.

blic corporation shall be exempt from all or
any of the provisions of the Land Act. [s. 40A]
44. [Repealed by Act No. 26 of 2007, s. 8(k)]
[s. 41]
45.

Notwithstanding that a public corporation may be declared
a specified public corporation it shall be the duty of the Board
of every public corporation to-
(a) ensure that the public corporation continues to carry
out its functions in accordance with its statement of
corporate strategy;
(b) co-operate with and ensure that the officers and employees
of the public corporation co-operate with the Treasury
Registrar in order to facilitate that the restructuring of
the public corporation is successfully achieved;
(c) implement any directive issued by the Treasury
Registrar so as to facilitate divesture of a specified
public corporation;
(d) ensure no decision is taken affecting the assets, or
changing the financial affairs of a specified public
corporation materially without obtaining approval of
the Treasury Registrar. [s. 42]
Cap. 113
Repealed
Duty of Board of
specified public
corporations
Acts Nos. 16 of 1993 s.5
17 of 1999 s.1
26 of 2007 s.8
GN. No. 203 of 2014

r. [s. 42]
Cap. 113
Repealed
Duty of Board of
specified public
corporations
Acts Nos. 16 of 1993 s.5
17 of 1999 s.1
26 of 2007 s.8
GN. No. 203 of 2014

©2025 Government of Tanzania. All rights reserved. No part of this book may be reproduced or distributed without permission of OAG.333
THE PUBLIC CORPORATIONS ACT [CAP. 257 R.E. 2023]
46.–(1) Notwithstanding any other law to the contrary, with
effect from the date of publication of an order declaring a
public corporation to be a specified public corporation, the
Treasury Registrar shall-
(a) without further assurance on appointment, have the
power to act as the official receiver of the specified
public corporation; and
(b) have the power and all the rights of a receiver appointed
in accordance with or pursuant to the Bankruptcy Act.

specified
public corporation; and
(b) have the power and all the rights of a receiver appointed
in accordance with or pursuant to the Bankruptcy Act.

(2) Without prejudice to subsection (1), the Treasury
Registrar shall-
(a) in relation to a specified public corporation which is
insolvent-
(i) have power to liquidate a specified public corporation
in accordance with the Companies Act; and
(ii) have power to determine an alternative restructuring
option:
Provided that, in the event of determining an alternative
restructuring option the Treasury Registrar shall prior to
proceeding with that option, inform all the interested parties
in writing of the reasons for preferring that alternative option;
(b) in relation to the debts of private creditors, but after
negotiating with these private creditors and with the
consent of the Treasury have the power to-
(i) write-off any debt;
(ii) reschedule the payment of any debt or interest on
the debt; and
(iii) suspend the accumulation of interest on any debt
for a specified period;
(c) in relation to Government debts, including debts of a
public corporation wholly owned by the Government
or its agent but with the consent of the Treasury, have all
the powers specified in paragraph (b) of this subsection;
(d) in relation to public corporations not wholly owned by
the Government, the Treasury Registrar may exercise
all the powers conferred by paragraph (b) of this
Powers of
Treasury
Registrar in
restructuring
specified public
corporation
Acts Nos.

ar may exercise
all the powers conferred by paragraph (b) of this
Powers of
Treasury
Registrar in
restructuring
specified public
corporation
Acts Nos.

16 of 1993 s.5
17 of 1999, s.11
26 of 2007 s.8
GN. No. 203 of 2014
Cap. 25
Cap. 212

16 of 1993 s.5
17 of 1999, s.11
26 of 2007 s.8
GN. No. 203 of 2014
Cap. 25
Cap. 212

©2025 Government of Tanzania. All rights reserved. No part of this book may be reproduced or distributed without permission of OAG.THE PUBLIC CORPORATIONS ACT [CAP. 257 R.E. 2023]
334
subsection only upon the prior consent of the Treasury
and the other shareholders. [s. 43]
47.–(1) The Minister may, upon the recommendation of the
Treasury Registrar, by order published in the Gazette, declare
any public Government minority shares in any company to be
specified Government minority shares to which the provisions
of this Part shall apply. (2) The order under subsection (1) shall specify the effective
date on which the provisions of this Part shall apply to the
specified Government minority shares. (3) The Minister may, by order published in the Gazette,
amend or vary any order made under this section. [s. 44]
48. [Repealed by Act No. 26 of 2007, s. 8(o)]
[s.

ter may, by order published in the Gazette,
amend or vary any order made under this section. [s. 44]
48. [Repealed by Act No. 26 of 2007, s. 8(o)]
[s.

45]
49.–(1) Where any voluntary or lease agreement entered by a
specified public corporation is the subject of any proceedings
before a court of law, and the Treasury Registrar is of the
opinion that the agreement was entered in anticipation of
divestiture and is not at arms length, the Treasury Registrar
shall immediately issue to the Court, notice of intention to
submit its opinion and shall, within fourteen days from the
date of such notice, submit its opinion before the Court which
shall thereupon declare the agreement to be inoperative. (2) Where a Court receives a notice of the intention of the
Treasury Registrar to submit its opinion, the Court shall stay
the proceedings concerned to enable the Treasury Registrar to
submit the opinion. [s. 45A]
50.–(1) There is hereby established a fund to be known as the
Special Fund into which shall be paid all proceeds from the
sale of a public corporation and out of which shall be paid
Specified
Government
minority shares
Acts Nos. 16 of 1993 s.5
17 of 1999 s.13
26 of 2007 s.8
GN. No. 203 of 2014
Repealed
Inoperative
agreement
Acts Nos. 17 of 1999 s.14
26 of 2007 s.8
GN. No. 203 of 2014
Special Fund
Act No. 26 of 2007 s.8

.8
GN. No. 203 of 2014
Repealed
Inoperative
agreement
Acts Nos. 17 of 1999 s.14
26 of 2007 s.8
GN. No. 203 of 2014
Special Fund
Act No. 26 of 2007 s.8

©2025 Government of Tanzania. All rights reserved. No part of this book may be reproduced or distributed without permission of OAG.335
THE PUBLIC CORPORATIONS ACT [CAP. 257 R.E. 2023]
the sum of money which may be required for the purposes of
effecting such sales or restructuring. (2) Moneys which have accumulated in the Special Fund
shall be invested or disbursed in such manner as may be
determined by Minister. (3) The Minister shall cause to be kept and maintained
books of accounts and proper records of the Special Fund
in accordance with internationally acceptable accountable
standards. (4) The books of account of the special Fund shall be audited
by the Controller and Auditor-General. (5) The Minister shall, as soon as possible, but in any case
not later than one month after receipt of the report of the
Controller and Auditor-General, lay the report before the
National Assembly. [s. 45B]
PART IX
FINANCIAL PROVISIONS
51.

er receipt of the report of the
Controller and Auditor-General, lay the report before the
National Assembly. [s. 45B]
PART IX
FINANCIAL PROVISIONS
51.

Where the President establishes any public corporation
whereby the Government is the sole shareholder, the President
shall provide for proper accounts of the public corporation
and other records in relation to it to be kept by the public
corporation, and shall further provide for statement of account
in the form which the President may direct to be prepared in
respect of each financial year of the public corporation in the
manner and in the form which the President may direct. [s. 46]
52.–(1) Subject to any written law, the accounts of every public
corporation shall-
(a) in the case of a public corporation in which the
Government is the sole shareholder, be audited by the
Controller and Auditor-General or by any other person
whom the Minister may direct; or
Accounts
of public
corporations
in which
Government is
sole shareholder
Audit

Auditor-General or by any other person
whom the Minister may direct; or
Accounts
of public
corporations
in which
Government is
sole shareholder
Audit

©2025 Government of Tanzania. All rights reserved. No part of this book may be reproduced or distributed without permission of OAG.THE PUBLIC CORPORATIONS ACT [CAP. 257 R.E. 2023]
336
(b) in the case of a public corporation in which the
Government is not the sole shareholder, except where
the law or other instrument by or under which the public
corporation shall appoint annually an independent
auditor approved by the Minister. (2) Subject to subsection (1), as soon as the accounts of a
public corporation have been audited, the Board of Directors or
the person entrusted with the management of the corporation
shall send a copy of the statement of accounts together with
a copy of any report made by the auditors to the responsible
Minister and the Minister shall lay a copy of that statement of
accounts and auditors’ report before the National Assembly. [s.

ors to the responsible
Minister and the Minister shall lay a copy of that statement of
accounts and auditors’ report before the National Assembly. [s.

47]
53.–(1) All the shares subscribed by the Government in any
public corporation through another public corporation which
was a holding corporation before the effective date shall, after
the effective date, be transferred to the Treasury Registrar by the
said former holding public corporation and those shares shall
vest in the Treasury Registrar without any further assurance. (2) A public corporation intending to buy shares in a public
corporation or company may do so from its own resources and
after getting the approval of the Treasury Registrar. [s. 48]
54. Where a public corporation whose capital structure
has been restructured has an undischarged loan or advance
from the Government, the Government may use that loan or
advance to acquire shares in that public corporation. [s. 49]
Transfer of shares
to Treasury
Registrar and
redemption of
other shares
Conversion
of loans and
advances into
equity

that public corporation. [s. 49]
Transfer of shares
to Treasury
Registrar and
redemption of
other shares
Conversion
of loans and
advances into
equity

©2025 Government of Tanzania. All rights reserved. No part of this book may be reproduced or distributed without permission of OAG.337
THE PUBLIC CORPORATIONS ACT [CAP. 257 R.E.

a. All rights reserved. No part of this book may be reproduced or distributed without permission of OAG.337
THE PUBLIC CORPORATIONS ACT [CAP. 257 R.E.

2023]
PART X
MISCELLANEOUS AND
TRANSITIONAL PROVISIONS
55.–(1) Where the President has established or establishes
a public corporation, or any statutory corporation has
been established for the performance of any functions and
the President is satisfied that there exists any other public
corporation or statutory corporation hereinafter referred
to as “the existing corporation” for the performance of all
or any of the functions for which that public corporation
or statutory corporation is or has been established, and the
public corporations are solely owned by the Government, the
President may-
(a) by order published in the Gazette, provide that the
existing corporation shall cease to exist or shall cease
to perform all or any of the functions which are
conferred upon the public corporation or the statutory
corporation;
(b) by order transfer assets or liabilities of the existing
corporation to the public corporation or the statutory
corporation; or
(c) by order transfer any person who is an employee of
the existing corporation to the service of the public
corporation or the statutory public corporation which
is solely owned by the Government.

oyee of
the existing corporation to the service of the public
corporation or the statutory public corporation which
is solely owned by the Government.

(2) Where the President makes an order under subsection
(1) which provides that any existing public corporation shall
cease to exist he may, by that order, repeal or amend, as he
may deem necessary, the written law by which that public
corporation has been established, and every order repealing or
amending that written law shall have the same effect as if the
repeal or amendment were effected by this Act. (3) Where the President provides that an existing public
corporation or statutory corporation in which the Government
Power to
reorganise public
and statutory
corporations

nt provides that an existing public
corporation or statutory corporation in which the Government
Power to
reorganise public
and statutory
corporations

©2025 Government of Tanzania. All rights reserved. No part of this book may be reproduced or distributed without permission of OAG.THE PUBLIC CORPORATIONS ACT [CAP. 257 R.E. 2023]
338
is the sole shareholder cease to perform any function, it shall
be unlawful for the corporation to perform that function. (4) Where, by an order made under this section, the President
vests any assets or liabilities of an existing public corporation
or statutory corporation in which the Government is the sole
shareholder in any public corporation or statutory corporation
in which the Government is the sole shareholder, the assets or
liabilities to which that order relates shall by virtue of the order
and without further assurance, vest in the public corporation
or statutory corporation specified in that order.

r relates shall by virtue of the order
and without further assurance, vest in the public corporation
or statutory corporation specified in that order.

(5) Where, by an order made under this section, the President
transfers any employee of the public corporation to the service
of any other corporation-
(a) that employee shall, as from the date of the transfer, be
deemed to be an employee of the public corporation or
statutory corporation in which the Government is the
sole shareholder to which he is transferred;
(b) the terms and conditions of service applicable to that
employee after the transfer shall be not less favourable
than those which were applicable to him immediately
before the transfer, and for the purposes of determining
any right to gratuity or any other superannuation benefit
the service to which he is transferred shall be regarded
as continuous with his service immediately preceding
the transfer; and
(c) the employment of that employee immediately prior
to his transfer and his employment by the public
corporation to which he is transferred, shall be deemed
to be continuous employment by one employer within
the meaning of the Employment and Labour Relations
Act, and that Act shall apply to the parties in the same
manner as it applies to the cases set out in the said Act.

he Employment and Labour Relations
Act, and that Act shall apply to the parties in the same
manner as it applies to the cases set out in the said Act.

(6) Where the assets of any public corporation transferred
to any other public corporation under the provisions of this
section include shares any company and the public corporation
was the sole shareholder of that company, every provision in
Cap. 366

provisions of this
section include shares any company and the public corporation
was the sole shareholder of that company, every provision in
Cap. 366

©2025 Government of Tanzania. All rights reserved. No part of this book may be reproduced or distributed without permission of OAG.339
THE PUBLIC CORPORATIONS ACT [CAP. 257 R.E. 2023]
any law or in any Articles of Association or any other charter or
instrument of the company providing for any consequence to
follow, or requiring any act or thing to be done, or entitling any
person to do any act or thing or to take any action whatsoever
by reason of the fact that the public corporation to which the
shares are transferred is the sole shareholder, shall be of no
effect in relation to that company and the President may, by
order published in the Gazette, modify in their application to
that company any of the provisions of the Companies Act or
of any subsidiary legislation made under it or of the Articles of
Association or any charter or instrument of the company.

ons of the Companies Act or
of any subsidiary legislation made under it or of the Articles of
Association or any charter or instrument of the company.

(7) Where, by an order made under this section the President
vests any assets or liabilities of a public corporation in any other
public corporation he may make provision in respect of the
transfer of the assets and liabilities of the public corporation
to the other public corporation under any contract, guarantee,
agreement, bond, authority, mortgage, charge, bill of exchange,
promissory note, bank draft, bank cheque, letter of credit or
any other security or instrument and may provide for the
substitution of the other public corporation as the part to that
security or instrument. (8) The President may, in any order under this section, make
any supplementary, transitional or consequential provisions
which he may deem necessary or expedient to give effect to
that order. [s. 50]
56.–(1) Every public corporation in which the Government is
the sole shareholder, shall have the power to borrow money
which the President may confer upon it by order published in
the Gazette.

the Government is
the sole shareholder, shall have the power to borrow money
which the President may confer upon it by order published in
the Gazette.

(2) Where any moneys are paid to a public corporation
referred to in subsection (1) as part of its funds out of moneys
provided by Parliament for the purpose, the President may
require the public corporation to pay interest upon the moneys,
to the Government and, where the President so requires, the
Cap. 212
Borrowing
powers of public
corporation
in which
Government is
sole share holder

,
to the Government and, where the President so requires, the
Cap. 212
Borrowing
powers of public
corporation
in which
Government is
sole share holder

©2025 Government of Tanzania. All rights reserved. No part of this book may be reproduced or distributed without permission of OAG.THE PUBLIC CORPORATIONS ACT [CAP. 257 R.E. 2023]
340
public corporation shall pay interest upon the moneys at the
times and at the rates which the President may determine. (3) The President may waive the payment of interest under
subsection (2) for any period which he thinks fit. (4) The Government may, with the approval signified by
resolution of the National Assembly raise moneys, either within
or outside the United Republic, specifically for the purposes of
a public corporation and all moneys so raised shall be charged
and issued out of the Consolidated Fund, and when paid to the
public corporation shall form part of the funds of that public
corporation. (5) All sums received by the Government from a public
corporation in repayment of any loan made to it by the
Government or of any moneys raised by the Government
under subsection (4) or in payment of any interest on any loan
or money, shall be paid into the Consolidated Fund.

any moneys raised by the Government
under subsection (4) or in payment of any interest on any loan
or money, shall be paid into the Consolidated Fund.

(6) The Government may guarantee in the manner and
on the conditions which it may think fit the repayment of the
principal of and the payment of interest and other charges
on any borrowing of a public corporation under and in
accordance with an order made under subsection (1) and any
sums required for fulfilling of any guarantee shall be charged
on and paid out of the Consolidated Fund. (7) In addition to the powers conferred upon a public
corporation by this section the public corporation shall have
additional powers which may be conferred upon it by the
President by an order published in the Gazette. [s. 51]
57. The powers of the President to make an order under any
provision of this Act shall include powers to make any one or
more orders, either at the same time or from time to time, as
the President may deem necessary or expedient. [s. 52]
Powers of
President to make
orders

ore orders, either at the same time or from time to time, as
the President may deem necessary or expedient. [s. 52]
Powers of
President to make
orders

©2025 Government of Tanzania. All rights reserved. No part of this book may be reproduced or distributed without permission of OAG.341
THE PUBLIC CORPORATIONS ACT [CAP. 257 R.E. 2023]
58.–(1) The President shall not delegate any of his powers
under this Act to any person except in accordance with the
provisions of this section. (2) The President may, by an order published in the Gazette,
delegate all or any of his powers under this Act, other than
his power under section 4 to establish a public corporation, to
a Minister or public officer and empower a Minister to make
regulations regulating any matter in relation to any public
corporation. [s. 53]
59. Every public corporation which holds a position of
monopoly in its business in the country shall conclude an
agreement with the Treasury Registrar with a view to-
(a) setting quantifiable performance targets; and
(b) determining the proper distribution of dividends. [s.

ith the Treasury Registrar with a view to-
(a) setting quantifiable performance targets; and
(b) determining the proper distribution of dividends. [s.

54]
60.–(1) Any public corporation which was a holding public
corporation in relation to any other public corporation before
the effective date shall, with effect from the effective date, cease to
be a holding corporation in respect of that public corporation
but may, with effect from that date, provide consultancy
services to the other public corporations and to other persons
in matters pertaining to its functions. (2) For the proper performance of the functions stipulated
in subsection (1), any former holding public corporation shall,
subject to any direction of the Board of Directors and after
consultation with all formerly associated public corporations,
charge fees for the services rendered by the public corporation. [s. 55]
61. The Minister may make regulations for giving effect or
enabling effect to be given to the purposes and provisions of
this Act and in particular without prejudice to the generality of
the foregoing, may by regulations modify in their application
to a specified public corporation any regulations made under
Delegations of
powers
Contract between
Treasury
Registrar
and public
corporation
Consultancy
services by
former holding
corporations
Regulations

under
Delegations of
powers
Contract between
Treasury
Registrar
and public
corporation
Consultancy
services by
former holding
corporations
Regulations

©2025 Government of Tanzania. All rights reserved. No part of this book may be reproduced or distributed without permission of OAG.THE PUBLIC CORPORATIONS ACT [CAP. 257 R.E. 2023]
342
it or any instrument of a specified public corporation in any
manner and to any extent which may be necessary or expedient
to bring those provisions into conformity with the provisions
of this Act. [s. 56]
62. [Repeals the Public Corporations Act and the Parastatal
Organisations (Modification of Management Provisions) Act.]
[s. 57]
63.–(1) The Minister may make regulations providing for the
dissolution of a public corporation, the circumstances of its
dissolution and procedure for doing so. (2) In prescribing the procedure referred to in subsection
(1), the Minister may provide different procedures for public
corporations or statutory corporation wholly owned by
the Government and those in which it is merely a majority
share holder for the time being and such procedure shall be
compulsory in relation to public corporation. [s. 57A]
64.

n which it is merely a majority
share holder for the time being and such procedure shall be
compulsory in relation to public corporation. [s. 57A]
64.

For the avoidance of doubt, with effect from the date of
coming into operation of this Act, every District Development
Corporation, established under the District Corporations Act,
all non-commercial services institutions, sports and culture
institutions, research institutions and institutions of learning,
shall, in pursuance of section 3, cease to be public corporations. [s. 58]
65. Upon dissolution of any holding public corporation
its liabilities incurred in relation to any company which
was a subsidiary of that holding public corporation shall be
transferred to that former subsidiary company or companies
in relation to which the liabilities were incurred. [s. 59]
Repeal
Acts Nos. 17 of 1969
12 of 1976
Dissolution
or winding-
up of public
corporation
Act No. 2 of 1998 Sch. Certain
institutions to
cease to be public
corporations
Cap. 382
Transfer of
liabilities

n
or winding-
up of public
corporation
Act No. 2 of 1998 Sch. Certain
institutions to
cease to be public
corporations
Cap. 382
Transfer of
liabilities

©2025 Government of Tanzania. All rights reserved. No part of this book may be reproduced or distributed without permission of OAG.343
THE PUBLIC CORPORATIONS ACT [CAP. 257 R.E. 2023]
66. [Omitted.]
[s. 60]
67. Save to the extent expressly provided in this Act or in any
regulations made under this Act, nothing in this Act or in
any regulations made under this Act shall be construed as to
affect any provisions of any existing law or of any Articles of
Association or any other charter or instrument of a specified
public corporation, and those provisions shall continue to
have effect after the commencement of this Act in relation
to the specified public corporation, except in so far as they
are thereafter amended, modified, repealed or revoked by a
competent authority or any provision thereof expires, but shall
be read with such modifications, adoptions, qualifications and
exceptions as provided in this Act or any regulations made
under this Act.
[s. 61]
Omitted
Savings

©2025 Government of Tanzania. All rights reserved. No part of this book may be reproduced or distributed without permission of OAG.