The Tanzania Postal Bank (Repeal and Transitional Provisions Act)

©2025 Government of Tanzania. All rights reserved. No part of this book may be reproduced or distributed without permission of OAG.381
CHAPTER 301
THE TANZANIA POSTAL BANK
(REPEAL AND TRANSITIONAL PROVISIONS) ACT
PRINCIPAL LEGISLATION
Arrangement of Sections
Section Title
part i
PRELIMINARY PROVISIONS
1. Short title.
2. Interpretation.
part ii
TPB BANK LIMITED
3. Incorporation of company.
4. Objectives and functions of company.
5. Vesting of assets and liabilities of bank.
6. Provisions regarding employees of bank.
part iii
TRANSITIONAL PROVISIONS
7. Transition period.
8. Repeal.

esting of assets and liabilities of bank.
6. Provisions regarding employees of bank.
part iii
TRANSITIONAL PROVISIONS
7. Transition period.
8. Repeal.

©2025 Government of Tanzania. All rights reserved. No part of this book may be reproduced or distributed without permission of OAG.382
PART I
PRELIMINARY PROVISIONS
1. This Act may be cited as the Tanzania Postal Bank (Repeal
and Transitional Provisions) Act. 2.

permission of OAG.382
PART I
PRELIMINARY PROVISIONS
1. This Act may be cited as the Tanzania Postal Bank (Repeal
and Transitional Provisions) Act. 2.

In this Act, unless the context otherwise requires-
“asset” means real and personal property of every kind,
including-
(a) rights under contract and agreement;
(b) books, books of account and records;
(c) all other rights, interest and claims in or to, real or
personal property, whether liquidated or unliquidated,
certain or contingent, accrued or accruing;
“bank” means the Tanzania Postal Bank;
“company” means the company incorporated in terms of
section 3;
“effective date” means the date appointed by the Minister
to be the date on which all obligations under contract or
agreement, including savings and deposits of all kinds of
the Tanzania Postal Bank shall vest in the company;
Short title
Interpretation
CHAPTER 301
THE TANZANIA POSTAL BANK
(REPEAL AND TRANSITIONAL PROVISIONS) ACT
An Act to repeal the Tanzania Postal Bank Act with a view to provide for
its incorporation under the Companies Act; to provide for the vesting
of assets and liabilities and transfer of employees of the Tanzania Postal
Bank to TPB Bank Limited; to provide for transitional provisions and
other related matters. [29th May, 2016]
[GN. No. 271 of 2016]
Act No. 18 of 2015

Bank to TPB Bank Limited; to provide for transitional provisions and
other related matters. [29th May, 2016]
[GN. No. 271 of 2016]
Act No. 18 of 2015

©2025 Government of Tanzania. All rights reserved. No part of this book may be reproduced or distributed without permission of OAG.383
THE TANZANIA POSTAL BANK (REPEAL AND TRANSITIONAL PROVISIONS) ACT [CAP. 301 R.E. 2023]
“transition” means the period of not more than six months
commencing from the effective date. PART II
TPB BANK LIMITED
3. The Minister shall, not later than the effective date, cause to
be incorporated, subject to this Act, a company to be known as
the TPB Bank Limited. 4. The objectives and functions of the company shall include-
(a) to take over, continue and perpetuate the performance
of the bank; and
(b) to undertake such other activities as may be necessary
or advantageous for the purpose of furthering the
objectives of the TPB Bank Limited. 5.–(1) The company shall, with effect from the effective date,
take over all the assets, liabilities and business of the bank. (2) All assets, rights and liabilities in respect of the banking
services to which the bank was entitled or subject shall, with
effect from the effective date, vest in the company in accordance
with this Act.

anking
services to which the bank was entitled or subject shall, with
effect from the effective date, vest in the company in accordance
with this Act.

6.–(1) Subject to this Act, all employees of the bank shall, with
effect from the effective date, be transferred to the company. (2) An employee transferred from the bank in terms of
subsection (1) shall be an employee of the company on such
terms and conditions which are not less favourable than
those applicable to every such employee before transfer from
employment of the bank. (3) Until such time as new scheme and terms and conditions
of service are drawn up by the company, the schemes and terms
and conditions of service in the bank shall continue to apply to
Incorporation of
company
Objectives and
functions of
company
Vesting of assets
and liabilities of
bank
Provisions
regarding
employees of
bank

apply to
Incorporation of
company
Objectives and
functions of
company
Vesting of assets
and liabilities of
bank
Provisions
regarding
employees of
bank

©2025 Government of Tanzania. All rights reserved. No part of this book may be reproduced or distributed without permission of OAG.384
THE TANZANIA POSTAL BANK (REPEAL AND TRANSITIONAL PROVISIONS) ACT [CAP. 301 R.E. 2023]
every person transferred under subsection (1) to the service of
the company as if he were still in the service of the bank. (4) Where a person who is transferred to the service of the
company under subsection (1) is a member of any statutory
or voluntary pension scheme or provident fund he shall, for
the purposes of this Act, continue to be governed by the same
regulations under those schemes or funds as if he has not been
transferred to the service of the company and, for the purposes
of the regulations governing those schemes, his service with
the company shall be deemed to be service of the bank. PART III
TRANSITIONAL PROVISIONS
7.–(1) There shall be a period of transition of not more than six
months commencing from the effective date.

he bank. PART III
TRANSITIONAL PROVISIONS
7.–(1) There shall be a period of transition of not more than six
months commencing from the effective date.

(2) Subject to this Act and not later than the expiration of
the transition period, all legal and other necessary measures
shall be taken to facilitate the effectual transfer and vesting in
the company of its assets and liabilities. 8.–(1) [Repeals the Tanzania Postal Bank Act.]
(2) Notwithstanding the repeal of the Tanzania Postal Bank
Act, the Tanzania Postal Bank shall remain in force until such
time when the incorporation of the TPB Bank Limited under
the Companies Act is complete. (3) Upon expiration of the transition period, this Act shall
have no legal effect. Transition period
Repeal
Act No. 11 of 1991
Cap. 212