Legal Status and Mandate

As highlighted above on the background part, Office of the Treasury Registrar (OTR) was established as a Corporation Sole through the Treasury Registrar Ordinance Cap 418 of 1959 which was revised in 2002 and renamed as The Treasury Registrar (Powers and Functions) Act [CAP .370 R.E.2002] as amended as ammended for time to time. The major ammendments made in 2010 were aimed at strengthening the role of the OTR by vesting Treasury Registrar with more powers and responsibilities to enable it perform its objectives accountably, efficiently and effectively.

 

Under the above statute the OTR is mandated to hold all investments comprised of the paid up capital of Public and Statutory Corporations or PEs as well as in private investments where the Government owns shares or interests in trust for the President and for the purposes of the Government of the United Republic of Tanzania.

 

In performing its responsibilities, the OTR performs three core functions, namely; Custodianship of Government investments, Oversight over operations of PEs and provision of Advisory services to the Government in relation to Government Investments.

 

Since July, 2014 vide Governement Notice No. 203 published on 27/06/2014 , the OTR is entrusted with an extra responsibilities of handling the functions left by the defunct Consolidated Holding Corporation (CHC) and its remaining assets. The CHC (formerly known as NBC Holding Corporation) was a statutory corporation established by the Government through the National Bank of Commerce (Reorganization and Vesting of Assets and Liabilities) Act No 23 of 1997 (now Cap 404 R.E. 2002).

 

The role of the now defunct CHC as amended severally, inter alia, included taking custody of the undischarged assets and liabilities of the former NBC; acquiring and holding, on behalf of the Treasury Registrar, controlling and other interests in the share or loan capital in the new NBC, NMB and the National Bureau (later Twiga Bancorp); taking over the assets and liabilities and continuing the business of the former NBC which are not vested in in the new NBC bank, NMB or the Bureau; and receiving and discharging all claims against the former NBC which are not vested in the NBC (1996) Ltd, NMB or the Bureau.

 

The 2007 amendments made vide Act No.10 of 2007 entrusted the CHC with the roles that were performed by the defunct Air Tanzania Holding Corporation (ATHCO), SIMU 2000 Ltd, Loans and Advances Realization Trust (LART) . The taking over of the roles of CHC further broadened OTR’s mandate to include, interalia the monitoring and evaluation (M&E) of more than 400 PEs; divestiture of PEs; receiving and discharging of claims; and disposing of the properties, rights and obligations as well as recovering of debts.