Eastern and Southern African Trade and Development Bank Act

EASTERN AND SOUTHERN AFRICAN TRADE AND DEVELOPMENT BANK ACT. ARRANGEMENT OF SECTIONS. Section 1. Interpretation. 2. Financial provisions. 3. Articles 24 and 43 to have the force of law. Schedule Provisions of the Charter which have the force of law in Uganda. CHAPTER 53 EASTERN AND SOUTHERN AFRICAN TRADE AND DEVELOPMENT BANK ACT. Commencement : 27 March, 1992. An Act to provide for the carrying out of the obligations of the Government of Uganda arising under the charter of the Eastern and Southern African Trade and Development Bank and for other matters relating thereto. 1. Interpretation. In this Act— ( a ) "bank" means the Eastern and Southern African Trade and Development Bank established by the charter adopted by the member States of the Preferential Trade Area of the Eastern and Southern African States on the 12th"> July, 1985; ( b ) "charter" means the Charter of the Eastern and Southern African Trade and Development Bank; ( c ) "Minister" means the Minister responsible for finance. 2. Financial provisions.

of the Eastern and Southern African Trade and Development Bank; ( c ) "Minister" means the Minister responsible for finance. 2. Financial provisions.

(1) There shall be charged and paid out of the Consolidated Fund without further appropriation than this Act all payments required to be made from time to time by the Government to the bank under the terms of the charter. (2) For the purpose of providing any sums required for making payments under this section, the Minister may, on behalf of the Government, make such arrangements as are necessary, or raise loans by the creation and issue of securities bearing such rates of interest and subject to such conditions as to payment, redemption or otherwise as he thinks fit, and the principal and interest of those securities and the charges and expenses incurred in connection with their issue shall be charged on and issued out of the Consolidated Fund. (3) Monies received by the Government from the bank, or raised under subsection (2), shall be paid into and form part of the Consolidated Fund and shall be available in any manner in which the Consolidated Fund is available. 3. Articles 24 and 43 to have the fo This section of the article is only available for our subscribers. Please click here to subscribe to a subscription plan to view this part of the article.

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