The house endorsed the Business Laws (Miscellaneous Amendments) Bill, 2011 into Act.
The Parliament this week has passed the Business Laws (Miscellaneous Amendments) Bill, 2011. The amended sections in this bill were the Business Names (Registration) Act (Cap213), the Companies Act (Cap 212), the Tanzania Trade Development Authority Act (Cap155) and the Merchandise Marks Act (Cap 58). Under the amendments tabled by Industries and Trade Minister Dr. Cyril Chami, different section were taken into consideration like the ability of a single person to register a company (Limited Liability Single Shareholder). The amendments to Cap 155, introduces a definition of the term ‘Trade Centre’ and charging the centre with the roles of promoting, coordinating, collecting and disseminating trade and investment information to potential investors. More over the bill makes amendments, to change the name of the Board of External Trade (BET) and changed it into Tanzania Trade Development Authority (TTDA).
Debating the Bill before it was endorsed, Members of Parliament called for heavy penalties on individuals trading on counterfeit and pirated products. However, they said the amendments would help in improving the environment for doing legal business in the country.
“There are complaints that our country’s environment of doing business is deteriorating because even the World Bank report on the matter recently shows that Tanzania has slipped from the 125th position out of over 180 countries surveyed to 127th position,” said Kabwe Zitto (Chadema - Kigoma North).
Zitto appealed to the government to strengthen the Copyright and Neighboring Right Act, the Trade and Services Marks Act, the Patent Act and the Merchandise Marks Act (Cap 58) to ensure local artistes benefited much from their works. Meanwhile, the house has also passed the bill on the Tanzania Livestock Research Institute Act, 2011 which aims to establish the the livestock research institute in the country.