Oil and Gas Revenue Management Act, No. 22 of 2015 Country/Territory United Republic of Tanzania Document type Legislation Date 2015 Source FAO, FAOLEX Long titleAn Act to provide for the establishment and management of the Oil and Gas Fund, to provide for the framework for fiscal rules and management of oil and gas revenues and to provide for other related matters. Subject Mineral resources Keyword Royalties/fees Natural gas Oil Special fund Geographical area Africa, Eastern Africa, Least Developed Countries Abstract This Act establishes the Oil and Gas Fund which consists of the Revenue Holding Account and the Revenue Saving Account and the Revenue Saving Account. The objectives of the Fund is to ensure that fiscal and macroeconomic stability is maintained; the financing of investment in oil and gas is guaranteed; social and economic development is enhanced; and resource for future generations is safeguarded. This Act charges the Minister to manage the oil and gas revenue, formulate and supervise all policy matters relating to the Fund, among others. The Act also creates responsibilities for the Bank of Tanzania in relation to the Fund. Essentially, the Tanzania Revenue Authority and National Oil Company collect oil and gas revenues due to the government. Full text English Website www.parliament.go.tz