OF THE FEDERAL DEMOCRATIC REPUBLIC OF ETHIOPIA 10 Year No. 59 ADDIS ABABA- 2nd August , 2004 CONTENTS Proclamation No. 415/2004 Sugar Industry Development fund Establishment Proclamation . Page ... 2805 PROCLAMATION NO . 415/2004 . : Law A PROCLAMATION TO PROVIDE FOR THE ESTABLISHMENT OF THE SUGAR INDUSTRY DEVELOPMENT FUND WHEREAS , it is understood that there is a conducive that there is an opportunity to undertake competitively WHEREAS , the private sector lacks , at this stage , the capacity to participate in the said development on account of the high - level investment requirement , WHEREAS , to bridge the gap that exists between the shortage of supply calls for undertaking of concerted effort , WHEREAS , the government , in order to undertake the will finance the intended investment , NOW , THEREFORE , in accordance with Article Republic of Ethiopia , it is hereby proclaimed as follows : Unit Price 2:30 The African Law Archive .No . 59 2 August , 2004 ... 1. Short Title This Proclamation may be cited as the “ Sugar Industry Development Establishment Proclamation No. 415/2004 ” 2. Definition Unless the context requires otherwise , in this proclamation 1 / “ Authority ” means the Public Enterprises Supervising Authority Established Pursuant to Proclamation No.412 / 2002 . 2 / “ Ministry ” means the Ministry of Trade and Industry . 3. Establishment The Sugar Industry Development fund / hereinafter referred to as “ the Fund ” / is hereby established . Source of the Fund Financial sources of the fund shall be sales proceeds of sugar in the domestic market by the government owned sugar - producing companies in excess of Birr 250 ( Two hundred fifty ) per quintal weighting 100kgs . government owned sugar - producing companies are exempted from being subject to payment of Income Tax on the sum of money that is transferred to the Fund . 3 / The Ministry may vary the sum set at Birr 250.00 ( Two hundred fifty ) if circumstances dictate for such a variation on the basis of a study made by the Ministry . Utilization of the Fund The Fund shall be utilized for the financing of studies of sugar industry projects for establishing new sugar - producing companies and for the expansion of existing sugar - producing companies . The African Law Archive Administration of the fund The Fund shall be administered by the Ministry in conformity with directive given by the Government . However , the Ministry may delegate said power to the Authority . Account of the Fund 1 / The Ministry or in the event of delegation , the Authority shall maintain separately complete and accurate books of accounts of the Fund . 21 The accounts of the Fund shall be audited annually by the auditor General or by its designate . 8. Inapplicable Laws No law , regulation , directive or practice shall have effect with respect to matters provided for in this Proclamation in so far it is found to be contradictory / inconsistent with this Proclamation . Effective Date po aw Arcant as com This Proclamation shall enter into force on the date of its publication on the Federal Negarit Done at Addis Ababa , this 2ºd day of August , 2004 . PRESIDENT OF THE FEDERAL DEMOCRATIC REPUBLIC OF ETHIOPIA The African Law Archive