No. 4/2018
Prmuc EN11TIEs CoRPORATE GovERNANCE
Cap.10:31
{f)
where the person is a partnership, a partner in the pattnership \Vho, either
alone or together with one or more associates, controls fifty per centum
or more of the rights to the pattnership's income or capital;
(g)
where the person is the trustee of a tmst, any other person \Vho benefits
or may benefit under the tmst;
(h)
where the person is a company(i) a person who, either alone or together with one or more associates,
controls the compatty; or
(ii) another company which is controlled by a person refeued to in subparagraph (i), either alone or together with one or more associates.
(7) For the purposes of subsection (6), a person shall be deemed to control
a company if the person, either alone or together with one or more associates or
nominees(a)
(b)
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controls the majority of the voting rights attaching to all classes of shares
in the company, whether directly or through one or more interposed
companies, partnerships or trusts; or
has any direct or indirect influence that, if exercised, results in him or her
or his or her associates or nominees factually controlling the company.
Application of Act
( 1) Subject to subsection (2), this Act shall apply to public entities
notwithstanding anything to the contrary in their enabling instnnnents.
(2) This Act shall not apply to Ministries and departments of the Govemment.
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Act not to affect composition or independence of constitutional
Commissions
This Act shall not be constmed so as to(a)
affect the composition of any constitutional Commission or the
appointment of members to or the dismissal of members from such a
Commission; or
(b)
compromise the independence conferred by the Constitution on any
constitutional Commission or other body.
PART II
CoRPORATE GovER"lANCE Ut...1T
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Corporate Governance Unit
(1) The Corporate Govemance Unit that was established in accordance with
the law relating to the Civil Service as a department within the Office of the President
and Cabinet shall continue in existence subject to this Act.
(2) The Unit shall be headed by a person of the grade of Permanent Secretary
and shall consist of such other members of staff as may be necessary for the perfomtance
of its functions, whose offices shall be public offices and form part of the Civil Service.
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Functions of Unit
(1) The functions of the Unit shall be-
(a)
to provide an advisory and centralised suppott mechanism for line
Ministries to ensure strict compliance by all public entities with the
applicable provisions of this Act; and
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