Uganda
Uganda Commercial Bank Act
Chapter 55
- Published
- Commenced on 8 October 1965
- [This is the version of this document at 31 December 2000.]
- [Note: The version of the Act as at 31 December 2000 was revised and consolidated by the Law Reform Commission of Uganda. All subsequent amendments have been researched and applied by Laws.Africa for ULII.]
Part I – Interpretation
1. Interpretation
In this Act, unless the context otherwise requires—Part II – Establishment and capital
2. Establishment of the bank
3. Head office
The bank shall have its head office in Kampala and may open branches and appoint agents in and out of Uganda in accordance with the decisions of the board made in that behalf.4. Functions of the bank
Capital and reserve
5. Authorised capital
6. General reserve fund
7. Borrowing powers
Part III – Administration
The board
8. Board of directors
9. Qualifications for appointment as director
10. Term of office
11. Meetings of the board
Staff
12. Appointment of employees
13. Declaration of secrecy
Part IV – Accounts and audit
14. Balance sheet
15. Functions of auditor
Part V – Miscellaneous
16. Contracts
17. Byelaws of the bank
The board may, with the prior approval of the Minister, make byelaws consistent with this Act regulating the following matters—18. Powers of the Minister
The Minister may give directions of a general nature relating to the policy and administration of the affairs of the bank, not being inconsistent with this Act, to the board, and the board shall be bound to comply with the directions.19. Service of documents
Any document may be served on the bank by leaving it at or by sending it by registered post, to the head office of the bank.20. Relations with the Government
The bank may act generally as agent for the Government or for a Government corporation where it can do so appropriately and consistently with this Act and with its functions as a commercial bank.21. Relations with other banks
22. Companies Act to apply to the bank
The Companies Act or any statutory modification or reenactment of it shall not apply to the bank.23. Regulations
The Minister may, after consultation with the board, by statutory instrument, make regulations for better carrying into effect the provisions of this Act and, in particular, for such matters as were the bank a company registered under the Companies Act, or any statutory modification or reenactment of that Act, would be dealt with in the articles of association.24. Liquidation
The bank shall not be placed in liquidation except in pursuance of an Act of Parliament passed in that behalf and then only in such manner as the Act shall direct.History of this document
31 December 2000 this version
Consolidation
08 October 1965
Commenced