ARRANGEMENT OF SECTIONS
1. Short title
Establishment of the Centre and Board of the Centre
3. Establishment of the Centre
4. Board of the Centre
5. Powers and functions of the Board
6. Disqualification for appointment as a Board member
7. Vacation of office
8. Removal from office
9. Filling of vacancies of the Board
10. Payment of members
Meetings and Proceedings of the Board
11. Meetings of the Board
12. Declaration of interest by Board members
13. Signification of documents
Chief Executive and Staff of the Centre
14. Chief Executive
15. Appointment and conditions of service of staff of the Centre, etc.
Functions, Powers and Duties of the Centre
16. General functions and powers of the Centre
17. Centre's revenues
18. Financial year
19. Accounts and audit
20. General Fund
21. Pension and other funds
22. Protection from personal liability
23. Reports to Minister
24. Annual report
27. Transitional provisions
28. Repeal of Cap. 74:08
Act 12, 2011,
S.I. 3, 2012,
S.I. 17, 2012.
An Act to provide for the merger of the Botswana Export Development and Investment Authority and the Botswana International Financial Services Centre into a single entity, (the Botswana Investment and Trade Centre).
[Dates of Commencement: Parts I to IV 3rd February, 2012;
Parts V to VII 1st April, 2012]
Preliminary (ss 1-2)
This Act may be cited as the Botswana Investment and Trade Centre Act.
In this Act, unless the context otherwise requires-
"BEDIA" means the Botswana Export Development and Investment Authority established under the Botswana Export Development and Investment Authority Act;
"Board" means the Board of the Centre established under section 4 (1);
"Centre" means the Botswana Investment and Trade Centre established under section 3;
"Chairperson" means the Chairperson of the Board appointed as such under section 4 (2) (a);
"former entities" means the BEDIA and the IFSC;
"IFSC" means the Botswana International Financial Services Centre, a company limited by guarantee and incorporated under the Companies Act on 12th March, 2003; and
"repealed Act" means the Botswana Export Development and Investment Authority Act.
Establishment of the Centre and Board of the Centre (ss 3-10)
(1) There is hereby established a body to be known as the Botswana Investment and Trade Centre.
(2) The Centre shall be a body corporate with a common seal, capable of suing and being sued in its own name and, subject to the provisions of this Act, of doing or performing all such acts as bodies corporate may, by law, perform.
(1) There is hereby established a Board which shall perform the powers and functions as may be conferred on it by this Act.
(2) The Board shall consist of the following nine members-
(a) a Chairperson, who shall be appointed by the Minister;
(b) the Permanent Secretary responsible for trade and the Permanent Secretary responsible for finance, or their respective representatives;
(c) four other persons appointed by the Minister and who, in the opinion of the Minister, have knowledge and experience likely to contribute to the successful management of the Centre;
(d) a legal advisor, appointed by the Minister; and
(e) the Chief Executive appointed by the Minister under section 14(1), who shall be entitled to attend all meetings of the Board but shall have no right to vote.
(3) The members of the Board shall elect, from among their number, a Vice Chairperson of the Board.
(4) A person shall not be appointed to be a member for more than five years at a time but shall be eligible for re-appointment for an aggregate period not exceeding 10 years.
The Board shall-
(a) determine policy and the courses of action for giving effect to the objects and purposes of the Centre and of this Act;
(b) monitor the performance of the Centre;
(c) review, where necessary, the objects and purposes of the Centre and to recommend, to the Minister, such changes, consequent upon such review, as it considers appropriate;
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