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Property Mortgaged or Pledged with Banks (Amendment) Proclamation No. 216-2000

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OF THE FEDERAL DEMOCRATIC REPUBLIC OF ETHIOPIA 6th Year No. 46 ADDIS ABABA - 6 July , 2000 CONTENTS Proclamation No. 193/2000 Property Mortgaged or Pledged with Banks ( Amendment ) Proclamation Page 1386 PROCLAMATION NO . 216/2000 A PROCLAMATION TO AMEND THE PROPERTY MORTGAGED OR PLEDGED WITH BANKS PROCLAMATION WHEREAS , it has become necessary to amend the Property Mortgaged or Pledged with Banks Proclamation No. NOW , THEREFORE , in accordance with Article 55 ( 1 ) of the Constitution of the Federal Democratic Republic of Ethiopia , it is hereby proclaimed as follows : Short Title This Proclamation may be cited as the “ Property Mortgaged or Pledged with Banks ( Amendment ) Proclamation No. 216/2000 . Amendment The Property Mortgaged or Pledged with banks Proclamation No.97 / 1998 is hereby amended as follows : 1 ) The correction made to Article 3 of Proclamation under paragraph ( 1 ) of Corrigendum No. 1/1998 is hereby deleted and the phrase “ or if no buyer appears at the second auction , to acquire the property at the floor price set for the first auction and have the ownership of the property transferred to it ” . is inserted after the word “ buyer ' ' on the eighth line of the Article . Unit Price The African Law Archive 2 ) The correction made to Article 4 of the Proclamation under paragraph ( 2 ) of Corrigendum No. 1/1998 is hereby deleted and the phrase “ or if no buyer appears at the second auction , it may acquire the property at the floor price set for the first auction and have the ownership of the property transferred to it ” ' is added after the word “ buyer ” at the end of the Article . 3. Effective Date This Proclamation shall come into force as of the 6 ' " day of July , 2000 . Done at Addis Ababa , this 6day of July , 2000 . PRESID OF THE FEDERAL DEMOCRATIC REPUBLIC OF ETHIOPIA The African Law Archive

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