Business Information Register Regulations, Proclamation No. 124 of 2002

1. Short Title This Proclamation may be cited as "The Business Information Register Regulations - Proclamation No. 124 /2002".

2. Establishment of Business Information Register The Ministry of Trade and Industry shall, as of the date of entry into force of this Proclamation, establish and maintain a Business Information Register for the following purposes: a) to establish an internationally accepted database on business establishments; and b) to review annually the performance of the business sector.

3. Scope of Coverage The Business Information Register shall cover, but shall not be limited to, business establishments engaged in trade, manufacturing, services, fisheries and commercial farms.

4. Information Required (1)The business establishments referred to in Article 3 hereof shall fill and provide the Ministry of Trade and 6 Industry, in forms to be issued by the latter, information on, but not limited to, the following: A. in trade and related sectors: 1. the name of the enterprise; 2. the name of the owner/owners; 3. the legal form of organization of the enterprise; 4. parent company affiliation, if any; 5. the address of the enterprise; 6. the tax identification number of the enterprise; 7. the commercial activity of the enterprise; 8. the commodities it trades in; 9. the volume of annual transaction by sectors of activity in Nakfa (import, export, wholesale, retail, services); 10. the origin of imports; 11 . the destination of exports; 12. the cost and freight (C & F) value and volume of imports; 13. the FOB (Freight On Board) value and volume of exports; 14. the total capital in Nakfa; 15. the number of employees; 16. inventories; and 17. warehouse space in square meters. 8. in manufacturing and related activities: 7 Part I - General: 1. establishment identification, and 2. ownership type and structure. Part II - Industrial statistics: 1. the source of investment fund: (equity, loan, foreign, domestic), 2. the number of employees (gender, skilled, unskilled, professional, experience), 3. total annual Sales (domestic and exports), 4. other income, 5. stock, 6. raw materials; 1. purchases, 2. origin of imports, and

3. Consumption, 7. inputs, 8. factory overhead, 9. production; 1. production cost, and

2. Production capacity utilization, 10. operating and administrative expenses, 11 . taxes and duties ,and 12. profitability. 8 • I Part Ill - Qualitative Information 1. investment, 2. employment, 3. sales, 4. raw material input and services, 5. production, 6. financial statement, and 7. other additional Information. (2) In Addition, any other information required by the Ministry of Trade and Industry under this Proclamation shall be submitted in accordance with a prescribed format. (3) The information to be given by business establishments under this Proclamation shall cover activities undertaken between January 1st and December 31 st of every year and shall be submitted to the Ministry of Trade and Industry by January 15 of the next year, provided the Ministry may, where it deems it necessary, request for the specified information at any time during the calendar year. (4) Each business establishment shall renew its business license annually. 9

5. Obligation and Penalty (1) Any business establishment shall have the obligation to provide immediately true and accurate information pertaining to any request therefor by the Ministry of Trade and Industry. (2) The Minister of Trade and Industry may, by decision, suspend or, in extreme cases, revoke the license of business establishments, which fail to provide the required information within the prescribed time or knowingly provide the Ministry false or incorrect information.

6. Judicial Review (1) Any person aggrieved by a decision of the Minister of Trade and Industry suspending, or revoking a license in extreme cases, under Article 5(2) may, within thirty (30) days after such decision is rendered, seek a review by the High Court. (2) The High Court shall set aside a decision which it, finds is: (a) arbitrary, an abuse of discretion, or otherwise not consistent with law; or (b) not made consistent with required procedures; or (c) unsupported by substantial evidence. (3) The decision of the High Court shall be final. 10

7. Confidentiality (1) Information submitted pursuant to this Proclamation shall be held confidential, unless the law requires disclosure thereof. (2) Disclosure of information submitted pursuant to this Proclamation by unauthorized personnel shall be punishable in accordance with the Penal Code of Eritrea.

8. Entry into Force This Proclamation shall enter into force as of the date of their publication in the Gazette of Eritrean laws. Asmara, December 27,2002 Government of Eritrea 11