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Commodity Exchanges Act, No. 19 of 2015

Country/Territory
United Republic of Tanzania
Document type
Legislation
Date
2015
Source
FAO, FAOLEX
Long title
An Act to make provisions to facilitate sound management of commodity exchanges, ensuring proper management of the business of persons who accept consignment of commodities on commodity exchanges whether in physical or electronic format setting out conditions for the organization of commodity markets and other matters, thereby contributing to the appropriate price discovery for all listed commodity contracts and management of the markets for commodities and to the protection of buyers, sellers and investors in the transactions on commodity exchanges markets.
Subject
Agricultural & rural development
Keyword
Agricultural commodities Agricultural development Authorization/permit Business/industry/corporations Contract/agreement Internal trade
Geographical area
Africa, Eastern Africa, Least Developed Countries
Abstract

The Act describes commodities to include agricultural, livestock, fishery, forestry, mining or energy goods, or products manufactured or processed from such goods. The Commodity Exchange is a market licensed by the Authority at which offers or invitations to sell, purchase or exchange commodity contracts are regularly made on a centralised basis. The Act thus provides for the business of trading in commodity contracts on a commodity exchange. The Act provides for the administration of the Capital Markets and Securities Authority (the Authority), it also provides the responsibilities and functions of the Authority with regards to commodity exchanges. Essentially, the Authority provides for the licensing of commodity exchanges and no exchange is to operate within the country without a valid licence. Exchanges are expected to run their operations within the ambit of the Act which prescribes several responsibilities, including; fairness, transparency and efficiency in the business it carries out; the prudent management of risks; among others

Full text
English
Website
www.parliament.go.tz