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OF THE FEDERAL DEMOCRATIC REPUBLIC OF ETHIOPIA

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CONTENTS

Proclamation No. 27712002Public Enterprises Supervising Authority and theIndustrial Development Fund EstablishmentProclamation Page 1760

PROCLAMATION NO. 277/2002

A PROCLAMATION TO PROVIDE FOR THEESTABLISHlvlENT OF THE PUBLIC ENTERPRISES

SUPERVISING AUTHORITY AND THE INDUSTRIALDEVELOPMENT FUND

WHEREAS,as long as public enterpriseshave to continueunder state ownership, it is necessary to provide them withsuch guidance and support so as to enable them to becompetitive and profitable and thereby play appropriate rolein the implementationof the country's industrialdevelopmentstrategy and the enhancementof economic growth;

WHEREAS,to fulfill this objective, the Public EnterprisesSupervising Authority needs to be strengthened and or-ganizedas an autonomousgovernmentoffice and the existingIndustrial DevelopmentFund has to be established by law;

NOW, THEREFORE, in accordance with Article 55(1) ofthe Constitution of the Federal Democratic Republic ofEthiopia, it is hereby proclaimed as follows:

PART ONEGeneral Provisions

1. Short Title

This Proclamation may be cited as the "PublicEnterprises Supervising Authority and the IndustrialDevelopment Fund Establishment ProclamationNo. 277/2002".

2. Definitions

In this Proclamation, unless the context requiresotherwise:

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1) "Public enterprise" means an enterprise as definedunder Article 2"(1) of the Public EnterprisesProclamation No. 25/1992, or a wholly state ownedshare company, but excluding those enterprises forwhich specific supervising authorities are desig-nated by other laws or decisions of the government;

2) "Share company" means a share company partiallyowned by the state, but excluding those sharecompanies in which the state owns shares throughpublic enterprises;

3) "Board of Management" means a Board ofmanagement of a public enterprise and includes theBoard of Directors of a wholly state owned sharecompany;

4) "Ministry" means the Ministry of Trade andIndustry.

PART TWO

The Public EnterprisesSupervising Authority

3. Establishment

1) The Public Enterprises Supervising Authority(he~inafterreferred to as"the Authority") is herebyestablished as an autonomous government officehaving its own legal personality.

2) The Authority shall be accountable to the Ministry.

4. Head Office

The Authority shall have its head office in Addis Ababaand may have branch offices elsewhere as may benecessary.

5. ObjectivesThe Authority shall have the following objectives:'1) to supportpubic enterprises in attaining higher level

or capacity utilization and the employment of better'managementsystemsand technology and thereby toimprove their performances and to maximize theirachievements;

2) to cause the establishmentof new public enterprisesin sectors where private investors could not par-ticipate for various reasons and which will bebottlenecks for the overall economic development;

3) to supervise the management of public enterprises;4) to protect the ownership rights of the state in public

enterprises and share companies.

6. Power andDuties

Withoutprejudiceto the relevant provisionsof thePublicEnterprises Proclamation No. 25/1992 and other laws,

. the Authority shall have the powers and duites to:1) undertake project studies and, without prejudice to

the provisions of Sub-Articles (1)(a) and (2) ofArticle 13 of this Proclamation, cause governmentallocationof funds necessaryfor the initialcapital ofpublic enterprises to be established pursuant toArticle 5(2) of this Proclamation;

2) evaluate and submit to the Ministry for its approvalproject proposals presented by investors intendingto invest in partnership with the government; andfollow up the implementationof same;

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3) undertake studies and provide guidelines with aview to assistingpublic enterprises in building theircapacities;

4) appointandremove the chairperson andmembersofBoards of managementof public enterprises and fixtheir fees provided, however, the provisions ofArticle 12(2)of the public enterprisesproclamationNo. 25/1992 shall apply to the appointment ofmembers of Board of directors of enterprises theshares of which are wholly state owned.

5) approve the appointment of external auditors ofpublic enerprsies;

6) approve corporate targets and investment plans ofpublic enterprises;

7) follow up and evaluate the performance of publicenterprises;

8) approve financial reports of public enterprises asaudited by external auditors;

9) submit information with its recommendation to theMinistry with a view toobtaining the decisionof thegovernment on the amount of state dividends to bepaid to the Governmentbypublic enterprisesof eachfinancial year;

10) issue directives on writing off the accounts ofpublic enterprises and follow up their implemen-tations;

11) decide the increase or decrease of the capital of a. public enterprise;12) cause the establishment of reserve funds or the

allocation of funds by the Government so that theauthorized capital of a public enterprise shall befully paid up within the period specified underArticle 20(2) of the Public EnterprisesProchimationNo. 25/1992;

13) undertake apporopriate studies and submit recom-mendations to the Ministry where the amal-gamationor division of public enterprisesbecomesnecessary;

14) undertake studies and implement result orientedincentive schemes ,applicable to members ofBoard!lof management .of public enterprises andtheir management staff;

15) represent the government in geperal meeting ofshareholders of share companies and nominateBoard directorson behalf of the government;

16) undertake studie~on the conditions under which apublic enterprise may be operated under amanagement or lease contract and, upon approvalby the Ministry, supervise the execution of same;

17) encoUfjigeand assist public enterprises in coor-dinating their activities and thereby promote theirmutualinterests; .

18) to give final decision on requests to retain, inaccordance with the law, employees of publicenterprises in service beyond retirement age;

19) own property, enter into contracts, and sue and besued in its own name;

20) perform other acts as are required for the attain-ment of its objectives.

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7. Orgliilizationof the Authority

The Authorityshall have:1) a Director General to be appointed by the govern-

ment; and2) the necessarystaff.

8. Powers andDuties of the Director General

1) The Director General shall be the chief executive, offic'er of the Authority and shall, subject to the

general directives of the Ministry, direct and ad-minister the 'activitiesof the Authority.

2) Without limitingthe generality statedin Sub-Article(1) of this Article, the Director General shall:(a) exercise the powers and duties of the

Authority specified under Article 6 of thisProclamation;

(b) employ and administer employees of theAuthority in accordance with the federal civilservice laws;

(c) prepare and submit to the Ministry the workprogram and budget of the Authority andimplement same upon approval;

(d) effect expenditure in accordance with theapproved budget and work program of theAuthority;

(e) representthe Authority in all its dealings withthird parties;

(f) prepare and submit to the Ministry theoperational, and financial reports of theAuthority .

3) The Director General may delegate part of hispow~r.sand duties to the officials and other em-ployees of the Authority to the extent necessary forthe efficient performance of the activities of theAuthority; provided, however, that in the case ofdelegation to an official who acts on behalf of theDirector General for more than 30 days, priorapproval of the Ministry shall be required.

9. BudgetThe budget of the Authority shall be allocated by theGovernment.

10. Books of accounts

1) The Authority shall keep complete .and accuratebooks of accounts.

2) The Booksof accountsand financial documentsofthe Authority shall be audited annually by theAudi~or.General or by an auditor designated byhim.

PART THREE

The IndustrialDevelqpment Fund

11. Establishment

The IndustrialDevelopmentFund is herebyestablished.

14. Source of the Fund

Financi(!Lsources of the Fund shall be deductions, inpercentages to be fixed by the Ministry upon therecommendations of the Authority, from the surplus'profits of pubtic enterprises after deducting statedividend as determined pursuant to Article.6 (9) of thisProclamation.

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13. Utilizationof theFund

1) The Fund shall be utilized for the followingpurposes:

(a) to finance project studies and initial requiredfor the establishment of public enterprisespursuant to Article 5(2) of this Proclamation;

(b) to finance the capital expenditure required forupgrading and expansion of existing publicenterprises that may play key roles in theeconomic development of the country;

(c) to replenish the capital of a public enterprisewhich has sustained loss where it is deemed

necessary to salvage it from dissolution.2) Anydisbursementfrom the Fund in accordancewith

Sub-Article (1) of this Article shall require thepermission of the Ministry.

14. Accounts of the Fund

1) The Authority shall separately keep complete andaccuratebooks of accounts of the Fund.

2) The accountsof the Fund'shall be audited annuallyby the AuditorGeneral or by an auditor designatedby him. .

I?ART FOUR

Miscellaneous Provisions

15. InapplicableLaws

1) The provisions of Article 11 of the Public-Enter-prises Proclamation No. 25/1992 shall not beapplicable with respect to the Authority.

2) No law,regulation,directive or practice in so far asit is inconsistentwith thisProclamation, shall have

effect with respect to matters provided for in thisProclamation.

16. Transfer of Rights and Obligations

The rights and obligations of the Office of theSupervising Authority of Public Enterprises are herebytransferredto the Authority.

17. Effecti ve Date

This Proclamation shall enter into force as of the 27th

day of June, 2002.

Done at Addis Ababa, this 27thday of June, 2002.

GIRMA WOLDE GIORGIS

PRESIDENT OF THE FEDERALDEMOCRATIC REPUBLIC OFETlllOPIA

oflcY1'i' till,. "1+oyJ ~cJ!-"" ;l-+6DI'fJERHANBNA SELAM PRINTING ENTERPRlSl.

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