This Regulation is issued by the Council of Ministers pursuant to Article 5 of the Definition of Powers and Duties of the Executive Organs of the Federal Democratic Republic of Ethiopia Proclamation No. 471/2005 and Article 47(1)(a) of the Public Enterprises Proclamation No. 25/1992.
1. Short Title
This Regulation may be cited as the “Information Technology Park Corporation Establishment Council of Ministers Regulation No. 177/2010”.
1/ The Information Technology Park Corporation (hereinafter the “Corporation”) is hereby established as a public enterprise.
2/ The Corporation shall be governed by the Public Enterprises Proclamation No. 177/1992.
3. Supervising Authority
The Ethiopia Information and Communication Technology Development Agency shall be the supervising authority of the Corporation.
4. Head Office
The Corporation shall have its head office in Addis Ababa and may have branch offices elsewhere as may be necessary.
The purposes for which the Corporation is established are;
1. to develop and operate information technology park; and
2. to render services related to information technology park.
The authorized capital of the Corporation is Birr 5,000,000.000 (Five Billion Birr) of which Birr 4,200,000,000 (Four Billion Two Hundred Million Birr) is paid up in cash and in kind.
The Corporation shall not be liable beyond its total assets.
8. Duration of the Corporation
The Corporation is established for an indefinite duration.
9. Effective Date
This Regulation shall come into force on the date of publication in the Federal Negarit Gazeta.
Done at Addis Ababa, this 21st day of May 2010.