6
No. 17
Repeal and
replacement
section 26 :.
Written Laws (Miscellaneous Amendments) No.3
2010
4. The principal Act is amended by repealing section
26 and substituting ror it the following provisions"Shareholders'
local obiigation
26.-( 1) The Minist~r shall, ill
consultation with the 'Autho;rity, make
regulations prescribing the minimum
local shareholding requirement and
procedure for approval and transfer of
shares in a company holding an
electronic communications, postal
licence and content service licence.
(2) The I\1inister shall, vvi-thin
three years from the date of
commencement of this Act, in
consultation with a company
mcorporated in the United Republic
and holding an individual or class
licence under this Act, make
regulations prescribing the minimum
shareholding requirement and
procedure for selling shares to
Tanzania nationals through listing .
,t/ith the stock exchange, in
accordance 'with the provisions of the
Cap.79
Capital 11arket and Securities .j~ct."