On 24th June 2021, Zanzibar assented the Finance (Public Revenue Management) Act, 2021 which made amendments to several laws. One of particular importance is the Zanzibar Companies Act. This change affects local companies with a place of business in Zanzibar. The Finance (Public Revenue Management) Act 2021 amends the Companies Act by introducing a new section 238 (3) which states…
The Written Laws (Misc. Amendments) (No.3) Act, 2021 has amended the Companies Act, Cap 212 by introducing the requirement to all registered companies to notify the Companies Registry when a transfer or transmission of shares has been made in a company. The amendment of the law requires a company which has transferred or transmitted its shares to new shareholder, to…
ABENRY ADVOCATES IS PLEASED TO ANNOUNCE THE INDUCTION AND PROMOTION OF THE FOLLOWING TO SENIOR ASSOCIATES’ POSITIONS WITH THE FIRM ANGEL MWESIGA Angel has proved to be an asset to the Firm especially when it comes to dealing with regulatory authorities in Tanzania. Her considerable experience in commercial law as well as in litigation has allowed her profile to grow…
ANGEL MWESIGA Angel has proved to be an asset to the Firm especially when it comes to dealing with regulatory authorities in Tanzania. Her considerable experience in commercial law as well as in litigation has allowed her profile to grow considerably in recent years. Angel can handle complex matters at a very good turnaround time. Angel is a talented lawyer,…
Analysis of the Mining (State Participation) Regulations 2020 The Mining (State Participation) Regulations 2020 have been introduced to provide further clarity on matters concerning Non-Dilutable Free Carried Interest (FCI) in the capital of a mining company or person holding mining license or special mining license. The scope of these regulations only extend to holders of a ‘Mining License’ and a…
In September 2018, the highly anticipated Public Private Partnership (the PPP Amendment Act), No.9 of 2018 was gazetted. In this article, we set out some of the key amendments that have been made that will encourage investors to propose PPP projects in Tanzania. The Public Private Partnership Act No. 19 of 2010 is the principal act made for the purpose…
The Mining Act was passed and came into force in 2010. The said Mining Act repealed the Mining Act of 1998. The purpose of Mining Act, 2010 was to provide substantial provisions that regulate the law relating to prospecting for minerals, mining, processing and dealing in minerals, granting, renewal and termination of mineral rights, payment of royalties, fees, charges and…
The Parliament of Tanzania has recently passed the Written Laws (Miscellaneous Amendments) No. 1 of 2018 an Act that amends certain written laws. The Act amends Section 45 and 120 of the Land Act, 1999 (“Land Act”) and introduces new sections 120A, 120B, 120C, 120D and 120E. The amendments introduce new restrictions on borrowing by land owners from financial institutions…