Ethiopian Airlines Enterprise Establishment (Amendment) Council of Ministers Regulation No.389-2016

COUNCIL OF MINISTERS REGULATION No. 389/2016

Council Of Ministers Regulation to Provide for the Amendment of the Ethiopian Airlines Enterprise Establishment Regulation

This Regulation is 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. 916/2015 and Article 21 and 47 (1)(b) of the Public Enterprise Proclamation No. 25/1992.

1.     Short Title

This Regulation may be cited as the “Ethiopian Airlines Enterprise Establishment (Amendment) Council of Ministers Regulation No.389/2016”.

2.     Amendment

Article 7 of the Ethiopian Airlines Enterprise Establishment Council of Ministers Regulation No. 216/1995 (as amended) is deleted and replaced by the following new Article 7:

7. Capital

The authorized capital of the Enterprise is Birr 60,000,000,000 (Sixty Billion Birr) of which Birr 18,822,606,303 (Eighteen Billion Eight Hundred Twenty-two Million Six Hundred Six Thousand Three Hundred Three Birr) is paid up in cash and in kind.”

3.    Effective Date

This Regulation shall enter into force on the date of publication in the Federal Negarit Gazette.

Done at Addis Ababa, this 13thday of June, 2016.

HaIlemariam Dessalegne

Prime Minister of the Federal DemocraticRepublic of Ethiopia

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