CENTRAL AFRICAN CIVIL AIR TRANSPORT ACT
Arrangement of Sections
1. Short title
3. Conduct of financial affairs of Corporation and subsidiaries
4. Charges to revenue account of Corporation
5. Establishment and operation of general reserve and capital reserve of Corporation
6. Budget of revenue and expenditure
7. Meeting of deficiencies
8. Budget of capital expenditure
9. Government to supply additional capital
11. Annual report
12. Long-term plans of Corporation and subsidiaries
13. New air transport services
14. Exemption from taxes
15. Accounts of Corporation
16. Appointment of auditors and audit of Corporation's accounts
17. Duties of auditors
FUNCTIONS OF CORPORATION
18. Functions of Corporation
20. Powers of Corporation
21. By-laws of Corporation
22. Reports of Corporation
23. Restriction on use of name of Corporation
24. Proceedings on non-compliance by Corporation
to provide for the functions, power and duties of the Higher Authority for Civil Air Transport and the Central African Airways Corporation; to regulate the procedure of the Corporation in relation to financial matters; to exempt the Corporation and any subsidiary company from taxes on income and profits; and to provide for matters incidental to or connected with the foregoing.
[1st January, 1964]
Act 7 of 1964,
Act 13 of 1994,
GN 301 of 1964,
SI 153 of 1965.
This Act may be cited as the Central African Civil Air Transport Act.
(1) In this Act, unless the context otherwise requires—
“aerial work” means a service, other than an air transport service, which is performed by means of an aircraft for payment or material advantage on one or more occasions, and includes the letting out on hire of an aircraft without pilot or crew;
“air transport service” means a service for the carriage of passengers or goods which is performed by means of an aircraft for payment or material advantage on one or more occasions;
“Corporation” means the Central African Airways Corporation constituted by the Order in Council;
“financial year” means the period commencing on the 1st January, 1964, and ending on the 30th June, 1964, and thereafter the period of twelve months ending on the 30th June each year;
“functions” means powers and duties;
“Higher Authority” means the Higher Authority for Civil Air Transport constituted by the Order in Council;
“operations” means the operations mentioned in paragraph (b) of section 18;
“Order in Council” means the Federation of Rhodesia and Nyasaland (Dissolution) Order in Council, 1963;
“subsidiary” means a subsidiary company established in terms of section 19.
(2) Any reference in this Act to the functions of the Corporation shall be read and construed as a reference to those functions as specified in the Order in Council and in this Act.
It shall be the object of the Corporation so to perform its functions as to ensure that all its revenues, together with those of all its subsidiaries, are not less than sufficient to meet all its outgoings, together with those of all its subsidiaries, properly chargeable to revenue account, taking one year with another; and in general the Corporation and its subsidiaries shall conduct their business on sound commercial lines.
(1) The Corporation shall charge to its revenue account all charges which in the normal conduct of business are regarded as proper to be made to revenue account and, in so doing, shall make in each financial year adequate provision for—
(a) the redemption of loans at due times;
(b) the payment of interest on and all other charges and expenses incurred in connection with loans;
(c) the depreciation in value of assets not acquired with loan funds; and
(d) the depreciation in value of assets acquired with loan funds to the extent that it is necessary for such provision to exceed the provision for the redemption of loans.
(2) In charging to its revenue account all charges which in the normal conduct of business are regarded as proper to be made to revenue account as in sub-section (1) is provided, the Corporation may also make in each financial year provision for—
(a) meeting, wholly or in part, increases in the cost of replacing assets; and
(b) making payments to an insurance fund established by the Corporation to meet, wholly or in part, liabilities of the Corporation arising out of the performance of its functions.
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