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FEDERAL NEGARIT GAZETTE
OF THE FEDERAL DEMOCRATIC REPUBLIC OF ETHIOPIA

t u?v 5O +," S4 23 Year No. 19

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  ADDIS ABABA 3rd March,2017

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 COUNCIL OF MINISTERS REGULATION TO ESTABLISH THE
FEDERAL HOUSING CORPORATION

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 This Regulation is issued by the Council of Ministers


 
A?JK= A* L*M Pursuant to Article 5 of the Definition of Powers and Duties

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of Ethiopia Proclamation No. 916/2015 and Article 47(1) of
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the Public Enterprises Proclamation No.25/1992
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1. Short Title
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This Regulation may be cited as the “Federal Housing
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Corporation Establishment Council of Ministers

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Regulation No. 398/2017”.
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2. O<<! 2. Establishment
1/ The Federal Housing Corporation (herein after the
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“Corporation”) is hereby established as a public
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enterprise.

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2/ The Corporation shall be governed by the Public
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Enterprises Proclamation No.25/1992.
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Unit Price Negarit G. P.O.Box 80001

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w XZ qN 234 ›.M Federal Negarit Gazette No. 19 3rd March, 2017……………….page
9538
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8"9:;r 3. Supervising Authority

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The Corporation shall have its head office in Addis Ababa
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and may have branch offices elsewhere as may be

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necessary.
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=j 5. Purposes

aoM€ The purposes for which the Corporation is established are:

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1/ to construct, cause to contract, rent out, sell or buy up
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on special decision houses that may be used for
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different services;
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2/ to administer and rent out federal government owned
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houses and possessions;
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3/ to carry out necessary maintenance and repair works to
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preserve and protect government owned houses;

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4/ to make sure that the government owned houses and
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possessions are legally registered and protected;
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5/ to devise modern management systems which enables
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effective administration of federal government houses
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and implement same;
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6/ to prevent illegal action against government owned
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houses and possessions to ensure the interest of
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Government and take all necessary lawful measures;
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7/ to construct and rent out houses for Government
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officials and employees; in accordance with
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government direction and budget out lays;
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9539

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8/ to study and implement the rental rate of houses and
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possessions under its control;
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9/ to undertake studies on the valuation relating to
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government houses which the Government has decided

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to sell and collect proceedings there from;
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10/ to transfer houses and possessions which are not
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convenient for administration, re-development and

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or have least rental incomes, up on Government
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houses in accordance with the law;
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 approval by the Government;
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13/ to make studies and forward proposals to get
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14/ to undertake any other related activities necessary for

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 the attainment of its purposes.
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6. Capital
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=`¢ £i The authorized capital of the Corporation is Birr
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T. ¤† Forty Four Million Seven Hundred Seventy Two Thousand

and One Hundred Thirty Six Birr) of which Birr
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11,048,257,378.00 (Eleven Billion Forty Eight Million
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Two Hundred Fifty Seven Thousand and Three Hundred
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Seventy Eight Birr) is paid up in cash and in kind.
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gA Ød‰L ነU¶T Uz¤È qÜ_R S4
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9540

?!* ") ,: B*M 5a j|§dd 7. Liability

The Corporation shall not be held liable beyond its total
assets.
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8. Duration of the Corporation
F. “” The Corporation is established for an indefinite duration.
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9. Transfer of Rights and Obligations
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The rights and obligations of the Agency for Government
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=xa y Houses established under Proclamation No.555/2007 are
hereby transferred to the Corporation.
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4.
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OH| 10. Effective Date
This Regulation shall enter into force on the date of
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publication in the Federal Negara Gazette.

O*N? #7 ¨©* O7 M NG†~
kb * H8"9:;r JQdd Done at Addis Ababa, this 3rd day of March,
March 2017
S. *Œ
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HAILEMARIAM DESSALEGN
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ŽM aoMdd PRIME MINISTER OF THE FEDERAL DEMOCRATIC
REPUBLIC OF ETHIOPIA
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