Malawi Railway Holdings Company Act
- Assented to on 26 August 1966
- Commenced on 29 August 1966
- [This is the version of this document at 31 December 2014.]
- [Note: This version of the Act was revised and consolidated in the Fifth Revised Edition of the Laws of Malawi (L.R.O. 1/2018), by the Solicitor General and Secretary for Justice under the authority of the Revision of the Laws Act.]
Part I – Preliminary
1. Short titleThis Act may be cited as the Malawi Railway Holdings Company Act.
2. InterpretationIn this Act, unless the context otherwise requires-"Agricultural Development and Marketing Corporation" means the Agricultural Development and Marketing Corporation incorporated under the Agricultural Development and Marketing Act;[Cap. 67:03]"Board" means the Board of Directors referred to in section 8;"Chairman" includes any director acting as Chairman under section 8;"the Company" means the Malawi Railway Holdings Company incorporated by this Act;"Lonrho Limited" means the company of that name incorporated under the United Kingdom Companies Acts;"Malawi Railways Limited" means the company of that name incorporated under the United Kingdom Companies Acts;"securities" in relation to a body corporate includes shares, stock, debentures, debentures stock, and any other security of a like nature, of the body corporate.
Part II – Incorporation and management of Company
3. Incorporation, limitation of liability, offices, agents and seal
4. Objects and powers
5. Transferor certain shares to the CompanyGovernment shall cause to be transferred to the Company, for the consideration specified in section 6, the beneficial interest in all the shares in Malawi Railways Limited which it has at the date of coming into operation of this Act and which it may thereafter acquire.
9. Meetings of the Board
10. Borrowing powersThe Board shall not exercise the borrowing powers of the Company without the prior consent in writing of the Minister.
Part III – Accounts
12. Annual accounts and report
13. AuditThe accounts of the Company shall be audited by auditors appointed annually by the Board with the approval of the Minister.
Part IV – Miscellaneous
14. Share transfers and register
15. Taxation, etc.Notwithstanding any other law—
16. Authentication of documents and decisions
17. RegulationsThe Minister, after consulting with the Board, may make Regulations for the better carrying out of the objects and purposes of this Act, or to give force or effect to its provisions, or for its better administration.
History of this document
29 August 1966
26 August 1966