Uganda Oil Board Act

Section Interpretation Section In this Act, unless the context otherwise requires— " board " means the body corporate established under section 2 ; " board of directors " means the board of directors established under section 4 ; " chairperson " means the chairperson of the board of directors appointed under section 4 ; " financial year " means in respect of an accounting period a period of twelve months ending on the 30th June; " Minister " means the Minister responsible for energy; " petroleum products " has the same meaning as that assigned to "petroleum" under section 1 of the Petroleum Act, and includes power alcohol, but the expression shall be limited to such products as are acquired by the board for the purpose of this Act.

Section Establishment and corporate status of the board Section There is established a board to be known as the Uganda Oil Board. The board shall be a body corporate with perpetual succession and a common seal and shall be capable of suing or being sued in its corporate name and, subject to this Act, may acquire and dispose of property and do all such other things as a body corporate may lawfully do.

Section Functions of the board Section The functions of the board shall be— in relation to petroleum products acquired by to operate and maintain storage facilities; to procure and transport petroleum products to wherever such products are needed whether within Uganda or elsewhere; to provide, maintain, operate, control or assist in the provision, maintenance, operation or control of storage and handling facilities; to market and distribute petroleum products to the Government and its agencies and any other person; to import petroleum products and to export such products to other countries; and to establish refineries for refining crude petroleum products which are for importing purposes; to advise Government, through the Minister , on the foreign exchange requirements for the acquisition and disposal of petroleum products in conformity with the social and economic development objectives of the country; to advise the Minister and other relevant Government authorities on the regulation of prices for petroleum products at all levels and to collect information on all matters relating to petroleum products and the various bodies dealing in such products; and generally, and without prej...

Section Board of directors of the board Section There shall be a board of directors which shall consist of nine members appointed by the Minister on such terms and conditions as he may determine. The Minister shall appoint a chairperson of the board of directors from the members appointed under subsection (1). A member of the board of directors shall hold office for a period not exceeding two years and shall be eligible for reappointment. The board of directors may appoint a secretary from among its members to take minutes of its proceedings. The Schedule to this Act shall apply to meetings of the board of directors and other matters set out in the Schedule, and the Minister may, by statutory instrument, amend the Schedule.

Section Officers and staff Section The Minister in the exercise of his or her powers under subsection (1) shall cause— There shall be a managing director appointed by the Minister in accordance with subsection (3) on such terms and conditions as the Minister may determine. The managing director shall be the chief executive of the board and shall be responsible for the day-to-day operations of the board . the post of the managing director to be advertised in a newspaper circulating in Uganda; the board of directors to compile a list of applicants who possess the qualifications required for the post and to interview those applicants; the board of directors to submit the names of three successful applicants to him or her, one of whom he or she shall appoint as the general manager. Subject to this Act and to the general supervision and control of the board , the general manager shall be responsible for the management of the funds, property and business of the board and for the administration, organisation and control of the other officers and staff of the board . The board of directors shall, in consultation with the managing director, appoint the heads of departments. The general mana...

Section Powers of the Minister to ratify decisions of the board and to give directions Section The Minister may, from time to time, give directions in writing to the board , and the board shall comply with the directions.

Section Accounts, audit and annual reports Section The board shall, within three months after the end of each financial year , submit— to the Minister an annual report in respect of that year containing— to the Auditor General— The board shall keep proper accounts and records of its transactions and affairs and shall ensure that all monies received are properly brought to account, all payments out of its monies are currently made and properly authorised and that adequate control is maintained over its property and over the incurring of the liabilities by the board . The annual accounts of the board shall be audited by the Auditor General. financial statements; performance indicators and other information relating to the performance indicators; a report on the operations of the board ; such other information as the Minister may, prior to the completion of the annual report or as otherwise supplementary to it, direct in writing; the accounts of the board for the financial year ; and the annual report referred to in paragraph (a). The Auditor General shall audit the accounts of the board and, within two months of the receipt by him or her of the accounts and annual report, submit his...

Section Funds of the board Section The funds available for the purpose of enabling the board to perform its functions under this Act shall consist of— capital from time to time appropriated by Parliament for that purpose; all monies received by the board for goods provided or services rendered under the authority of the Act; all monies borrowed by the board ; any such other monies received by or made available to the board for purposes of performing its functions under this Act. A person lending money to the board shall not be bound to inquire whether the borrowing of money is within the powers of the board . All income and monies of the board shall be deposited to the credit of the board in a bank approved by the board and shall not be withdrawn, except in accordance with the manner provided by the board .

Section Duty of the board to operate on sound financial principles Section The board shall, in the performance of its functions under this Act, have due regard to sound financial principles and shall conduct its business in such manner that taking one transaction with another, and taking one year with another— its revenue is sufficient for meeting all charges, including interest on capital and loans properly chargeable to revenue accounts; sufficient provision is made to provide for depreciation of assets; and where any loss or bad debt arises in respect of any transaction, provision is made in respect of other transactions, whether of a similar nature or otherwise, to off set the amount of the loss or debt. Any excess of the board ’s revenue for any financial year over the sums required by it for that year for meeting its expenditure under this Act shall be applied by the board in such a manner as the board may direct. A direction under subsection (2) may require the whole or any part of any excess of the revenues of the board to be paid into the Consolidated Fund.

Section Estimates Section The general manager shall, within not less than three months before the end of each financial year , prepare and submit to the board of directors for its approval estimates of income and expenditure of the board for the next ensuing year and may, at any time before the end of a financial year , prepare and submit to the board of directors for approval any estimates supplementary to the estimates of a current financial year . No expenditure shall be made out of the funds of the board unless the expenditure is part of the expenditure approved by the board of directors under the estimates for the financial year in which the expenditure is to be made or in the estimates supplementary to those estimates.

Section Vesting of assets Section The Minister may transfer to the board the ownership or possession of any assets belonging to the Government which, by virtue of this Act and in his or her opinion, are necessary for the board ’s performance of its functions; and thereupon the board shall, in respect of those assets, have all rights and be subject to all the liabilities attaching to them.

Section Protection of certain persons from liability Section No matter or thing done by the Minister , a director or any other officer of the board shall, if the matter or thing be done in good faith for the purpose of carrying out any of the provisions of this Act, render the Minister , director or officer personally liable to any civil action, suit or other proceedings in respect of that matter or thing.

Section Regulations Section The Minister may, after consultation with the board , make regulations for carrying into effect this Act.