OF THE FEDERAL DEMOCRATIC REPUBLIC OF ETHIOPIA 3 Year -- No. 51 ADDIS ABABA , 71h July , 1997 CONTENTS Council of Ministers Regulation No. 18/1997 Ethiopian Electric Power Corporation Establish ment Regulations Page 611 Council of Ministers Regulations No. 18/1997 REGULATIONS TO PROVIDE FOR THE ESTABLISHMENT OF THE ETHIOPIAN ELELCTRIC POWER CORPORATION These regulations are issued by the Council of Ministers pursuant to Article 5 of the Definition of Powers and Duties of the Executive Organs of the Federal Democratic Republic of Ethiopia Proclamation No. 4/1995 and Article 47 ( 1 ) ( a ) of the public Enterprises Proclamation No. 25 / 1. Short Title These Regualtions may be cited as the “ Ethiopian Electric Power Corporation Establishment Regulations No. 18/1997 ” 2. Establishment 1. There is hereby established the Ethiopian Electric Power Corporation ( hereinafter the “ Corporation ” ) as a public enterprise . 2. The Corporation shall be governed by the Public Enterprises Proclamation No. 25/1992 . 3. Supervising Authority A body to be designated by the Government shall be the Supervising Authority of the Corporation . Unit Price The African Law Archive 4. Head Office The Corporation shall have its Head Office in Addis Ababa and may have branch offices elsewhere , as may be necessary . 5. Purpose purpose of the Corporation is to engage in the business of producing , transmitting , distributing and selling electrical energy ( in accordance with economic and social development policies and priorities of the Government ) and to carry on any other related activities that would enable it achieve its purpose . 6. Capital The authorized capital of the Corporation is 6.1 Billion Birr of which 2.67 Billion Birr is paid up in cash and kind . 7. Liability The Corporation shall not be liable beyond its total assets . 8. Duration The Corporation is established for an indefinite duration . 9. Transfer of Rights and Obligations The rights and obligations of the Ethiopian Electric Light and Power Authority established under General Notice No. 213 / 1956 are hereby transferred to the Corporation . 10. Effective Date Done at Addis Ababa , this 7h day of July 1997 . PRIME MINISTER OF THE FEDERAL DEMOCRATIC REPUBLIC OF ETHIOPIA The African Law Archive