CHAPTER 134
GOVERNMENT LOANS, GUARANTEES AND GRANTS ACT

[PRINCIPAL LEGISLATION]

ARRANGEMENT OF SECTIONS

   Section

Title

PART I
PRELIMINARY PROVISIONS

   1.   Short title.

   2.   Interpretation.

PART II
FOREIGN LOANS

   3.   Authority to raise foreign loans.

   4.   Payment due in respect of foreign assets.

   5.   Moneys borrowed to be paid into Consolidated Fund.

PART III
LOCAL LOANS

   6.   Authority to raise local loans.

   7.   Local loans may be raised by issue of bills, etc.

   8.   Provisions regulating bills, etc.

   9.   Exemption from stamp duty.

   10.   Conditions for issue of securities.

   11.   Exemption from laws relating to lotteries.

   12.   Interest subject to withholding tax.

PART IV
GUARANTEES

   13.   Authority to guarantee loans to parastatal organisations, etc.

   14.   Parastatal organisation bound to reimburse Government all disbursements.

PART V
GRANTS

   15.   Authority to receive grants.

PART VI
MISCELLANEOUS PROVISIONS

   16.   Amounts due on loan or under guarantee charged on Consolidated Fund.

   17.   Lender not bound to enquire whether prescribed conditions complied with.

   18.   National Assembly may vary ceilings of loans.

   19.   Minister to specify certain particulars in annual estimates.

   20.   Delegation by Minister.

   21.   Regulations.

   22.   [Repeal of R.L. Caps. 397 and 476.]

   23.   Transitional and savings provisions.

CHAPTER 134
THE GOVERNMENT LOANS, GUARANTEES AND GRANTS ACT

An Act to make provision for the Government to raise, revise and consolidate the written loans raised and guarantees given by the Government and for the acceptance of grants made to the Government and for related matters.

[23rd August, 1974]
[D.P.G.]

Act No. 30 of 1974

PART I
PRELIMINARY PROVISIONS (ss 1-2)

1.   Short title

   This Act may be cited as the Government Loans, Guarantees and Grants Act.

2.   Interpretation

   In this Act, unless the context otherwise requires–

   "annual foreign exchange revenue", in relation to any financial year, such revenue as computed for the purpose of the balance of payments statistics prepared and published by the Bank of Tanzania;

   "bill" means a Treasury bill issued under and in accordance with the provisions of this Act;

   "bond" means a bond issued under section 7;

   "financial year" shall have the meaning assigned to that expression by the Public Finance Act *;

   "foreign loan" means any loan raised by the Government from outside Tanzania;

   "local loan" means any loan raised by the Government from within Tanzania;

   "Minister" means the Minister responsible for finance;

   "parastatal organisation" means–

   (a)   a local authority;

   (b)   a body corporate established by or under any written law other than the Companies Act *;

   (c)   a trade union registered under the Trade Unions Act *;

   (d)   any company registered under the Companies Act * not less than fifty per centum of the issued share capital of which is owned by the Government or a parastatal organisation or, where the company is limited by guarantee, a company in respect of which the amount that the Government or the parastatal organisation which is a member of such company has undertaken to contribute in the event of the company being wound up is not less than fifty per centum of the aggregate amount which all the members have undertaken to contribute; and references in this paragraph to a parastatal organisation include references to any such company;

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