OF THE FEDERAL DEMOCRATIC REPUBLIC OF ETHIOPIA 6th Year No.4 ADDIS ABABA - 18th November , 1999 CONTENTS Proclamation No. 182/1999 Privatization of Public Enterprises ( Amendment ) Proclamation Page 1175 PROCLAMATION NO . 182/1999 A PROCLAMATION TO PROVIDE FOR THE AMENDMENT OF THE PRIVATIZATION OF PUBLIC ENTERPRISES PROCLAMATION WHEREAS , it has become necessary to amend the Privatization of Public Eộterprises Proclamation ; NOW , THEREFORE , in accordance with Article 55 ( 1 ) of the Constitution of the Federal Democratic Republic of Ethiopia , it is hereby proclaimed as follows : 1. Short Title This Proclamation may be cited as the “ ‘ Privatization of Public Enterprises ( Amendment ) Proclamation No. 182/1999 . ” 2. Amendment The Public Enterprises Privatization Proclamation No. 146/1998 is hereby amended as follows : The following new Sub - Articles ( 5 ) and ( 6 ) are added after Sub - Article ( 4 ) of Article 5 : “ 57 Notwithstanding Article 546 Sub - Articles ( 1 ) – ( 4 ) of the Commercial Code , the Agency shall , in converting a public enter prise into a share company , have the power to determine the assets and liablilities of the enterprises that may be transferred to the share company and fix its capital . Unit Price The African Law Archive 6 / An enterprise converted into a share company shall cease to exist upon registration of the Share Company ” . 2 ) Sub - Article ( 4 ) of Article 7 is deleted . 3 ) Sub - Article ( 1 ) of Article 13 is deleted and replaced by following new Sub - Article ( 1 ) : 1 / A privatized enterprise shall cease to exist upon completion of handover and its rights and obligations shall be transferred to the buyer or to the company established by the buyer . ” ' 4 ) The following new Sub - Articles ( 3 ) and ( 4 ) are added after Sub - Article ( 2 ) of Article 13 : “ 3 / The residual assets and liabilities following the decisions of the Agency in accordance with Article 5 ( 5 ) of this Proclamation on the transfer of assets and liabilities of a public enterptise being converted into a share com pany shall be transferred to the Board of Trustee . 4 / The Provisions of Sub - Articles ( 1 ) and ( 2 ) of this Article shall similarly be applicable with respect to the transfer of rights and obligations of public enterprises returned to their former owners by the decision of the Agency pursuant to Proclamation 110/1995 . ” 3. Effective Date This Proclamation shall enter into force as of the 18th day of November , 1999 . Done at Addis Ababa , this 18th day of November , 1999 . PRESIDENT OF THE FEDERAL DEMOCRATIC REPUBLIC OF ETHIOPIA The African Law Archive