WHEREAS, it is found necessary to establish an organ, having legal personality, to follow-up and handle receivables, debts and obligations as well as legal cases pending after the sale and transfer of enterprises privatized in consequence thereof;
NOW, THEREFORE, in accordance with Article 55(1) of the Constitution of the Federal Democratic Republic of Ethiopia, it is hereby proclaimed as follows:
1. Short Title
3) unless otherwise provided in the contract concluded between the Ethiopian Privatization Agency and the new owner of the enterprise:
(c) to takeover and keep the closed books and documents and the personnel files of the enterprise;
(d) to takeover and follow-up, by way of substitution, court cases relating to the enterprise;
6) to submit to the Prime Minister detailed reports on receivables and payables as well as pending court cases of the enterprise, send a copy of same to the Ethiopian Privatization Agency;
7) to own property, enter into contracts, sue and be sued in its own name, as attributes of its legal personality;
8) carry out other activities as are necessary for the attainment of its objective.
2) a General Manager; and
3) the necessary staff.
3) A representative of the Supervising........................ "
4) a representative of the Ethiopian Privatization Agency.............. "
5) the General Manager of the Board, to be appointed by the Prime Minister upon recommendation of the Board...... Member & secretary
3) to submit to the government, and obtain approval for, the settlement of the debts of the enterprise, ensure and supervise due settlement of same upon approval;
4) to undertake proper follow-up and supervision on the settlement of legal cases relating to the enterprise in or out-of court;
5) to approve the annual budget and work programme of the Board to be submitted to the Government;
6) to undertake whatever it deems necessary for the attainment of the objective of the Board.
3) Decisions of the Board of Management shall be made by a majority vote; in case of a tie, however, the Chairman shall have a casting vote.
4) The Board of Management shall draw-up its own rules of procedure.
(c) employ and administer employees of the Board in accordance with the Federal civil service laws;
(d) Prepare and submit to the Board of Management the budget and work programme of the Board;
(e) effect expenditure in accordance with the approved budget and work programme of the Board;
(f) represent the Board in all its dealings with third parties;
(g) prepare and submit to the Board of Management the operational and financial reports of the Board;
3) The Board shall publicize the Privatization of an enterprise, with a view to notifying third parties of the sale, through a newspaper having wide circulation or other mass media upon completion of its handover.
- the Flag Proclamation No.3/1987; and
- the Emblem of the Republic Proclamation No.4/1987