Browsing by Author "Michael, Onesmo"

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    Fair competition law in relation to price-fixing in Tanzania: evolution and efficacy
    (Unversity of Dar es Salaam, 2014) Michael, Onesmo
    In this Thesis we have traced the development of laws on restraint of trade in relation to price fixing generally from the Roman Period to date and specifically in Tanzania from the pre-colonial society to date. It was found that laws on restraint of trade in relation to price fixing and their enforcement should be understood in the political, economic and historical context in which they are made. It was found that before 1993, Tanzania used price control mechanisms under the various pieces of legislation but after adopting free market policies, Tanzania started to enact laws to prevent anti-competitive practices by ensuring that the free market operates fairly instead of controlling prices directly. We have also reviewed laws on restraint of trade in relation to price fixing in Tanzania and identified areas which must be addressed so as to make the laws effective. It was observed that there is a common tendency of parallelism in prices among sellers and buyers of some goods and services which would not be expected in the prevailing circumstances in the absence of some form of collusion; but FCC has not seriously pursued price-fixers and successfully punished culprits because of some weaknesses in the Fair Competition Act. It was further observed that unlike regulatory authorities which have powers to set price caps, FCC does not set indicative prices. It was pointed out that FCC has not been able to enforce fair competition law because it lacks powers to regulate prices where free competition does not work. We have seen that regulated sectors were facing a similar problem of price fixing in their respective areas but after acquiring powers to impose price caps, they have managed to control price fixing practices. It was recommended that a competition law version particularly that which gives competition authorities in Tanzania an option to intervene by setting price caps where free competition does not work effectively or where tacit collusion is observed may be more suitable in Tanzania.
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    The law relating to debentures and their realisation in Tanzania: the case of CRDB Bank Limited
    (University of Dar es Salaam, 2004) Michael, Onesmo
    Leading and borrowing business id crucial in the Tanzanian economy. Investors who wish to invest in various sectors of the economy need to raise enough capital and, one of the ways of obtaining capital is to borrow from banks and other financial institution. In leading money to investors, it is prudent to obtain security as a form of assurance should untoward and unexpected development occur to jeopardize the safety of the advance. Essentially, security is one of the accepted basic principles of the lending. There are various methods by which a banker may obtain security and one of them is a debenture. This work is based on the law relating to debentures and their realization with specific reference to the CRDB Bank Limited. It is shown in this study that debentures are a class of security issues by companies, co-operatives societies and other body corporate in favour of bankers and other lenders, which normally give a fixed charge on the company’s fixed assets and what is known as floating charge on the rest of its undertakings. Further, it is shown that the CRDB Bank Limited has been accepting debentures as security since its reconstitution in 1984. That, the CRDB was solely owned by the government until it was privatized in 1994. During the time when CRDB was under the ownership of the government, it was not autonomous in its operations. It is also submitted that,after the privatization of the CRDB, it became independent of any interference from the government in accepting and realizing debentures. The legal and credit departments of the bank currently abide by the basic principles of lending and realisation of the debentures without interference.