Council of Minister REGULATION No. /2016
Council of Ministers Regulation to amend the Ethiopian Shipping and Logistics service Enterprise Regulation
This Regulation is issued by the Council of Ministers pursuant to Articles 5 and 31(7) of the Definition of Power and Duties of the Executive Organs of the Federal Democratic Republic of Ethiopia Proclamation No. 916/2015 and Article 21, 47(1)(b) of the Public Enterprises Proclamation No. 25/1992.
1. Short Title
This Regulation may be cited as the “Ethiopian Shipping and Logistic Services Enterprise Establishment Council of Ministers (Amendment) Regulation No. 386/2016”.
Article 6 of the Ethiopian Shipping and Logistic Services Enterprise Establishment Council of Ministers Regulations No. 255/2011 is hereby amended as follows:
Article 6 of the regulations is deleted and replaced by the following new Article 6:
The Authorized Capital of the Enterprise is Birr 20,000,000,000.00 (Twenty Billion) of which Birr 6,541,873,793.00 (Six Billion Five Hundred Forty One Million Eight Hundred Seventy Three Thousand and Seven Hundred Ninety Three) is paid up in cash and in kind.”
This Regulation shall enter into force on the date of publication in the Federal Negarit Gazette.
Done at Addis Ababa, this 13th day of May 2016.
Prime Minister of the Federal Democratic Republic of Ethiopia