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ROASTING PLANT CORPORATION ACT(CHAPTER 21:07)

CHAPTER 21:07

ROASTING PLANT CORPORATION ACT

Act 16/1991, 22/2001 (s. 4).

ARRANGEMENT OF SECTIONS

PART I

PRELIMINARY Section

  1. Short title.

PART II

ROASTING PLANT CORPORATION AND ROASTING PLANT BOARD

  1. Continuation of Roasting Plant Board under name of Roasting Plant Corporation.
  2. Roasting Plant Board.
  3. Constitution of Board.
  4. Terms and conditions of office of members.
  5. Disqualification for appointment as member.
  6. Vacation of office by member.
  7. Minister may require member to vacate office.
  8. Filling of vacancies on Board.
  9. Meetings and procedure of Board.
  10. Committees of Board.
  11. Remuneration and expenses of members of Board and members of committees.
  12. Right of certain officers to attend meetings of Board or committees.
  13. Members to declare interest in dealings with Corporation.
  14. Validity of decisions and acts of Board.
  15. Execution of contracts and instruments by Corporation.
  16. Minutes of proceedings of Board and committees. PART III

FUNCTIONSOF CORPORATION

  1. Functions of Corporation.
  2. Powers of Corporation.
  3. Reports of Corporation.
  4. Appointment of general manager.
  5. Minister may give Corporation directions in national interest.

PART IV

ISSUEOF SHARESAND DEBENTURES BY CORPORATION

  1. Authorized share capital of Corporation.
  2. Allotment, issue and transfer of shares of Corporation.
  3. Liability of shareholders.
  4. Issue of debentures.

PART V

FINANCIALPROVISIONS RELATINGTOCORPORATION

  1. Conduct of financial affairs of Corporation.
  2. Capital of Corporation.
  3. Revenues of Corporation.
  4. Investments and loans by Corporation.
  5. Corporation to make certain charges to revenue account.
  6. Establishment and operation of reserve fund.
  7. Financial year of Corporation.
  8. Accounts of Corporation.
  9. Audit of accounts of Corporation.
  10. Powers of auditors.

PART VI

GENERAL

  1. Exemption from liability of Corporation, members, employees and agents.
  2. Indemnity of members, employees and agents of Corporation.
  3. Investigation into affairs of Corporation.
  4. Exemption from Cap. 14:08.
  5. [Repealed].
  6. Transitional provisions and savings. SCHEDULE: Powers of Corporation.

AN ACT to provide for the continuation in existence of the Roasting Plant Board under the name of the Roasting Plant Corporation and to provide for its functions and powers; to provide for the constitution and functions of a board for the said Corporation; and to provide for matters connected with or incidental to the foregoing.

[Date of commencement: 1st February, 1992.]

PART I

PRELIMINARY

1    Short title

This Act may be cited as the Roasting Plant Corporation Act [Chapter 21:07].

                       2    Interpretation

In this Act—

“Board” means the Roasting Plant Board referred to in section four;

“Corporation” means the Roasting Plant Corporation referred to in section three;

“member” means a member of the Board referred to in subsection (1) of section five;

“Minister” means the Minister of Mines or any other Minister to whom the President may, from time to time, assign the administration of this Act;

“repealed Act” means the Roasting Plant Act [Chapter 166 of 1974].

PART II

ROASTING PLANT CORPORATION AND ROASTING PLANT BOARD

                       3     Continuation of Roasting Plant Board under name of Roasting Plant Corporation

The Roasting Plant Board established by section 3 of the repealed Act shall continue in existence as a body corporate under the name of the Roasting Plant Corporation and, in that name, shall be capable of suing and being sued and, subject to this Act, of performing all acts that bodies corporate may by law perform.

                       4    Roasting Plant Board

The operations of the Corporation shall be controlled, subject to this Act, by a board to be known as the Roasting Plant Board, constituted in terms of this Part.

                       5    Constitution of Board

  • The Board shall consist of not fewer than five and not more than seven members appointed, subject to subsection (2), by the Minister after consultation with the President and subject to such directions as the President may give him.
  • Members shall be appointed in terms of subsection (1) for their ability or experience in the beneficiation of minerals or in administration or for their professional qualifications or their suitability otherwise for appointment.

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