CHAPTER 87
BUILDING SOCIETIES ACT

[SUBSIDIARY LEGISLATION]

INDEX TO SUBSIDIARY LEGISLATION

   REGULATIONS

      The Building Societies Regulations

REGULATIONS

THE BUILDING SOCIETIES REGULATIONS

(Section 71(a))

G.N. No. 251 of 1954

1.   Citation

   These Regulations may be cited as the Building Societies Regulations.

2.   Interpretation

   In these Regulations, unless the context otherwise requires, "Act" means the Building Societies Act *.

3.   Forms

   The forms in the First Schedule hereto shall be used in all matters to which they refer, or are capable for being applied or adapted, with such alterations and additions, if any, as are necessary or desirable and the Registrar allows.

4.   Documents to be written legibly in English upon good paper

   All applications, returns, notices and other documents required sent to the Registrar shall be clearly and legibly written, printed or type-written in the English language upon paper of durable quality.

5.   Signature of applications for registrations

   (1) Every application for the registration of a building society under section 7 of the Act shall be signed by seven or more of the persons who were present at the general meeting at which the rules of the proposed society were adopted, who shall also sign the copies of the rules accompanying the application.

   (2) Every application for the registration of a building society under section 69 of the Act shall be signed by a director or member of the committee of management or secretary of the society, who shall also sign the documents required to accompany the application.

6.   Special provisions relating to annual accounts of societies carrying on business abroad

   (1) Where a building society incorporated under the provisions of the Act carries on business outside Tanzania every annual account and statement of the society prepared under the provisions of section 30 of the Act shall contain, in addition to the particulars required by Form BS6 in the First Schedule hereto, a summary showing the balances under each of the seven accounts therein contained attributable to its business in each country, district or place outside Tanzania, in which the society carries on business, such balances to be shown in the currency of the country, district or place to which they refer.

   (2) Every annual account and statement prepared by a building society incorporates outside Tanzania and registered under the provisions of the Act shall contain, in addition to the particulars required by Form BS6 in the First Schedule hereto, a summary showing the balances under each of the seven accounts therein contained attributable to its business in the Tanzania, such balances to be shown in the currency of the country, district or place to which they refer.

7.   Certification of copies of resolutions

   Any copy of the rules of a building society or of a resolution adopted by a building society requiring to be certified and sent to the Registrar shall be certified as a true copy of the original by a director or member of the committee of management or by the secretary of the society.

8.   Fees

   The fees set out in the third column of the Second Schedule hereto shall be charged for the several matters set out opposite thereto in the second column of that Schedule.

FIRST SCHEDULE
FORMS

FORM B.S. 1
APPLICATION FOR REGISTRATION OF A LOCAL BUILDING SOCIETY

TANZANIA

THE BUILDING SOCIETIES ACT (CAP. 87)

(Regulation 3)

   Application is hereby made for the registration of a building society to be known as "....................................................................................................... Building Society".

   This application is accompanied by two copies of the rules of the proposed society, which were adopted at a general meeting held on ............................. at ........................................
at which we were present.

   Dated this ................................ day of .........................

(Signatures of at least seven applicants)

FORM B.S. 2
CERTIFICATE OF INCORPORATION

TANZANIA

THE BUILDING SOCIETIES ACT (CAP. 87)

(Section 7)

   I hereby certify that .......................................................................................... Building Society has this day been incorporated under the provisions of the Building Societies Act.

   Dated this ......................... day of .........................

........................................
Registrar

FORM B.S. 3
APPLICATION FOR REGISTRATION OF A BUILDING SOCIETY INCORPORATED OUTSIDE TANZANIA

TANZANIA

THE BUILDING SOCIETIES ACT (CAP. 87)

(Section 69)

   Application is hereby made for the registration in Tanzania of the building society known
as " ...................................................................................................... Building Society"
which was incorporated in ......................................................... This application is accompanied by–

   (a)   a certified copy of the rules of the society and of its certificate of incorporation;

   (b)   a statement of the situation and postal address of the restored or principal office of the society in its country of incorporation;

   (c)   a statement of the situation and postal address of the principal office of the society in Tanzania.

   (d)   a copy of the latest annual statement and account of the society; and

   (e)   a statement of the names and addresses of the directors or committee of management of the Society.

   Dated this .................................. day of .........................................

..........................................................
(Signature of director, member of
committee of management, or secretary)

FORM B.S. 4
CERTIFICATE OF REGISTRATION

TANZANIA

THE BUILDING SOCIETIES ACT (CAP. 87)

(Section 69)

   I hereby certify that ........................................................................................ Building
Society, a society incorporated in .........................................................., has this day been registered under the provisions of the Building Societies Act.

Dated this ......................... day of .........................

...............................................
Registrar

FORM B.S. 5
BOND

TANZANIA

THE BUILDINGS SOCIETIES ACT (CAP. 87)

(Section 16)

   Know all men by these presents, that we, .....................................................................
.................................... of ..............................................................................................
one of the officers of the ......................................................... Building Society, established
at ............................................, and .................................... of .....................................
(as surety on behalf of the said .............................), are jointly and severally held and firmly bound to the said society in the sum of .......................... to be paid to the said society for which payment well and truly to be made we jointly and severally bind ourselves, and each of us by himself, our and each of our heirs, executors and administrators, firmly by these presents. Dated the .......................... day of .......................... in the year .............

   Whereas the above-bounden .............................................. hath been duly appointed to the office of .............................................. of the ................................................... Building Society, established as aforesaid and he, together with the above-bounden, ..........................
as his surety, have entered into the above written bond, subject to the condition hereinafter contained:

   Now, therefore, the condition of the above-written bond is such, that if the said .............................................................. shall and do render a just and true account of all moneys received and paid by him, and shall and do pay over all the moneys remaining in his hands, and assign and transfer or deliver all securities and effects, books, papers, and property of or belonging to the said society in his hands or custody, to such person or persons as the said society shall appoint, according to the rules of the said society, together with the proper or legal receipts or vouchers for such payment, then the above-written bond shall be void and of no effect, otherwise shall be and remain in full force and virtue.

FORM B.S. 6
ANNUAL ACCOUNT AND STATEMENT FOR YEAR ENDED ................ 20........

TANZANIA

THE BUILDINGS SOCIETIES ACT (CAP. 87)

(Section 30)

      Name of Society ...............................................................................................

      Registered Office ..............................................................................................

      Postal Address ................................................................................................

         Number of Share Investors at end of year ....................................................

         Number of Creditors for Deposits and Loans at end of year ...........................

         Number of Borrowers at end of year ............................................................

NAMES OF THE DIRECTORS OR MEMBERS OF THE COMMITTEE OF MANAGEMENT–

   The Society carries on business outside the Tanzania in the following places–
......................................................................................................................................

1. SHARES ACCOUNT

Withdrawals including Interest, Dividend and Bonus ... ... ... ... ...

Subscriptions ... ... ... ... ... ... ... ...
Interest, Dividend and Bonus on Shares ... ... ... ... ... ... ... ... ... ...

Other Debits (to be specified):
.................................................
.................................................
.................................................
.................................................
.................................................

Other Credits (to be specified):
.................................................
.................................................
.................................................
.................................................
.................................................

Due to Shareholders at end of year

Due to Shareholders at beginning of year ... ... ... ... ... ... ... ... ... ... ...

£

£

£

£

2. DEPOSITS AND LOANS ACCOUNTS 1

£

Withdrawals, including Interest

Receipts from Depositors ... ... ...

Interest on Deposits ... ... ... ... ...

Other Debits (to be specified):
.................................................
.................................................
.................................................
.................................................

Other Credits (to be specified):
.................................................
.................................................
.................................................
.................................................

Due to Creditors for Deposits and Loans at end of year ... ... ... ... ...

Due to creditors for Deposits and Loans at beginning of year ... ... ...

Loans from Bank repaid, including Interest (or reduction in Overdrafts)

Interest on Bank Loans ... ... ... ...

Due to Bank on Loans and Overdrafts at end of year ... ... ... ...

Due to Bank on Loans and Overdrafts at beginning of year ...

£

£

£

3. MORTGAGES ACCOUNT

£

£

Advanced on Mortgage:


   On ................... Mortgages where the advanced agreed to will not exceed £.3,000 ... ... ...

Repayments of Advances and Interest ... ... ... ... ... ... ... ... ... ...


Losses on realisation–
Charged to A/c No. 5

   On ................... Mortgages where the advance agreed to will not exceed £.3,000 ... ... ...

Total

Interest ... ... ... ... ... ... ... ... ...

Insurance Premiums ... ... ...


3 Survey Fees and
Expenses ... ... ... ... ... ...

Other Debits (to be specified):
................................................
................................................
................................................
................................................
................................................
................................................
................................................

Due on Mortgages at beginning of year ... ... ... ... ... ... ... ... ... ... ...

            £

........................................


Charged to A/c No. .....................

Insurance Premiums ... ... ... ... ...


2 Survey Fees and Expenses ... ...

Other Credits (to be specified)–

.................................................

.................................................
.................................................
.................................................
.................................................
.................................................
.................................................
.................................................
.................................................

Due on Mortgages at end of year ...

4. INVESTMENTS ACCOUNT

£

£

Investments made:

Investments realised:

In the Country .............................

In the Country .............................

Outside the Country .....................

Outside the Country ....................

Profits on realisation of
Investments (as per A/c No. 5 ... ...

Losses on realisation of
investments (as per A/c No. .................

...............................................


Balance at beginning of year

Depreciation of Investments (as per A/c No. ................)

Interest and Dividends received ...

Balance at end of year ... ... ... ...

5. REVENUE AND APPROPRIATION ACCOUNT

EXPENDITURE

£

Management Expenses–
   Directors' Fees ... ... ... ... ... ...

Interest on Mortgages ... ... ... ...
Other amounts paid by Borrowers as consideration for Advances 4 ... ... ... ... ... ... ...

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£

INCOME

   Remuneration of Staff and Auditors ... ... ... ... ... ... ... ...

Rents, Rates, Insurance, Heat, Light, Cleaning, Repairs, etc. (Offices) ... ... ... ... ... ... ... ... ...