Ethiopia Commodity Exchange Proclamation (No. 550 of 2007)

ÃNÇ êU Unit Price nU¶T Uz¤È ±.œ.q.Ü *¹þ1 Negarit G. P.O.Box 80001 yxþT×eà ØÁ‰§êE ÄþäK‰sþÃêE ¶pBlþK ØÁ‰L nU¶T Uz¤È FEDERAL NEGARIT GAZETA OF THE FEDERAL DEMOCRATIC REPUBLIC OF ETHIOPIA bxþT×eà ØÁ‰§êE ÄþäK‰sþÃêE ¶pBlþK yÞZB twµ×C MKR b¤T «ÆqEnT ywÈ ¥ W Å Aዋጅ ቁጥር 5)%/09)(9 ›.M የኢُዮጵያ የُץו ገበያ גּהּהדያ አዋጅ…. ገጽ 3¹þ8)(8 CONTENTS Proclamation No. 550/2007 Ethiopia Commodity Exchange Proclamation No. .Page 3898 Aዋጅ ቁጥር 5)%/09)(9 የኢُዮጵያ ُץו ገበያን ֳוּהּהד የወጣ አዋጅ የሀገًעን ግብץና በገበያ ֶይ ወደـנטאـ የአץם ُנףאዓُ ד₪ጋገץ ድֱነُን ֳׂשאነስ ወሳኝ עכאያ ֲאኑ በאንግُם ዋና ዋና ፖֵתዎ٤ የـገֳጸ በֲאኑ፤ አነስـኛ የግብץና አ٥٤ףו ወቅٍዊ የገበያ ዋጋ ֳָךـው የٍْץוֳ ጃ እንዲያገኙናנא ግ በገበያው ֶይנድדበ እንዲ٤ִ ץደףደא ያֶْውን ـሳُፎ דሳደግ ـገּת በֲאኑ፤ ֳዚֱָׂש וጣፋ፣ ץםዓُ ያֳውና ወጥነُ ያֳው የግብץና ٤ِץוን የገበያ ץםዓُ וּהּהד አስፈֶጊ ֲኖ በאገኘً፤ በኢُዮጵያ ፌዴֶףዊ ዴזክתףያዊ עፐብֵክ ሕገ אንግًם አንׂשጽ $5 /1/ ُנטא የגከـ ֳው ٍውጇָ፡፡ ክፍָ አንድ ጠቅֶֶ 1. አጭץ ץዕስ ይֱ አዋጅ “የኢُዮጵያ የُץו ገበያ גּהּהדያ አዋጅ ּׁשጥـ ”9)(09/%(5 ץብֹ ֵጠׂשስ ይ٤ֶָ፡፡ PROCLAMATION NO. 550/2007. A PROCLAMATION TO PROVIDE FOR THE ESTABLISHMENT OF THE ETHIOPIA COMMODITY EXCHANGE WHEREAS transforming the country’s agriculture to market oriented production system has been envisaged by the major policies of the government as critical tool for poverty alleviation; WHEREAS it is important to promote increased participation of small agricultural producers by providing up-to-date market information and enabling them to negotiate better prices for their products; WHEREAS to these ends it is found necessary to establish an efficient, orderly and unified marketing system for agricultural commodities; NOW, THEREFORE, in accordance with Article 55 Sub-Article (1) of the Constitution of the Federal Democratic Republic of Ethiopia, it is hereby proclaimed as follows: PART ONE GENERAL 1. Short Title This Proclamation may be cited as the “Ethiopia Commodity Exchange Proclamation No. 550/2007.” xo‰ሦስተኛ ›mT qÜ R ^1 xÄþS xbÆ ነּሴ @9 qN 09)(9 13th Year No. 61 ADDIS ABABA 4th September, 2007 gA ØÁ‰L ነU¶T Uz¤È qÜ R ^1 ነּሴ @9 qN 09)(9 ›.M Federal Negarit Gazeta No. 61 4th September, 2007… page 3899 הጓץُ .2 የቃִ አገֹוብ ֶַ ُץጉו የגያרጠው ካֲָነ በץׂש፣ በዚֱ አዋጅ ውስጥ፤ 1/ “የክፍያ אፈጸגያ ֳُד ”וּהـ የُץו ገበያው ወይו በָםֳֹוጣኑ እውቅና ያገኘ የአገץ ውስጥ ֹוንክ ወይו ነው፤ וּהـ ሳሳይ የፋይናንስאـ 2/ “የክፍያና ץክክብ አፈጻጸֳُד ”ו አንድ ድץጅُ በአገናኝነُ ወይו በአּתףףׂשነُ የףטגበُ םነ ץםዓُ ֲኖ፣ ድץጅً ֳግብይً አፈጻጸו የገዢና የָךጭን גና በאውרድ በـዋዋይ ወገኖ٤ የרגጡُን ُዕዛዞ٤ የגያስٍץቅበُና የገንዘብ ክፍያና ነው፤ ץףטበُ አוፈጸגክክብ የץ ץጥּׁש በአዋጅ ֳُד ”ስָጣንֳֹו“ /3 5)$1/09)(9 የאּהּהـው የُץו ገበያ ጣን ነው፤ָםֳֹו ከֶַ አንድ ዓይነُ ֳُד ”ُץו“ /4 ُץו ٤ָגዋወጥ የֳא ץጋ ُץו ነው፤ 5/ “የُץו ገበያ” ֳُד ወጥ ֲነው በـዘጋጁ ُץו ነክ ውֹ٤ ግብይُ የגፈጸוበُ የُץו ገበያ ነው፤ 6/ “ውָ” ُץוֳ ֳُד ገበያ ግብይُ וግዛُ ወይאֳ ُץו አንድን ָֹות ንًץוዘጋጀና የـጥ ወጥ ֲኖ የ₪אֳ גፈጻـ ጃ፣נጠን፣ ዋጋ፣ ደא የֲגንበُና የץ ًץוክክብ የגፈጸוበُን ׂשን በዝץዝץ የגያካُُ ስווነُ ነው፤ 7/ “ዳٍ” ֳُד የኤַክُצኒክስ ዳٍ ָውውጥን፣ የኤַክُצኒክስ ָאዕክ ُን፣ ַَግוףን፣ ַَክስንና ַَኮፒን ጨצו በኤַክُצኒክስ፣ በኦፕٌካָ ወይו በאـሳሳይ ዘዴዎ٤ የאגነጭ፣ የֶגክ፣ የגደץስ ወይו የגከ٤ד ጃ ነው፤נא 2. Definitions Unless the context otherwise requires, in this Proclamation: 1/ “clearing institution” means the Ethiopia Commodity Exchange or domestic bank or similar financial institution recognized by the Ethiopia commodity Exchange Authority; 2/ “clearing and settlement” means the procedure by which an organization acts as an intermediary and assumes the role of a buyer and seller for Exchange trade transactions in order to reconcile orders between transacting parties, and insures the physical or financial settlement of the transaction; 3/ “authority” means the Ethiopia Commodity Exchange Authority established under Proclamation No. 551/2007. 4/ “commodity” means a product which is interchangeable with another product of the same kind; 5/ “commodity exchange” means an exchange where standardized commodity-linked contracts are traded; 6/ “contract” means a standardized agreement to buy or sell a specified commodity, detailing the amount, grade and price of the commodity and the date on which the contact will mature and become deliverable for purposes of trading on the Exchange; 7/ “data message” means information generated, sent, received or stored by electronic, optical or similar means including, but not limited to, electronic data interchange, electronic mail, telegram, telex and telecopy; 3¹þ8)(9 gA ØÁ‰L ነU¶T Uz¤È qÜ R ^1 ነּሴ @9 qN 09)(9 ›.M Federal Negarit Gazeta No. 61 4th September, 2007… page 3900 8/ “የኤַክُצኒክ ፊֳُד ”דץ ከנאጃ ָאዕ ክِ٤ ጋץ በـያያዘ ፈגףን ֳֳאየُና በא ָዕክً የـካــው נאጃ በፈגףው የፀደׂש ወይֹוׂשـ וይነُ ያገኘ ֲאኑን ֳָאדከُ ጥቅו ֶይ የגውָ በנאጃ ָאዕክُ ֶይ የֳـጠፈ ወይו ከָאዕክً ጋץ የـያያዘ በፌַክُצኒክስ ፎוץ ያֳ נאጃ ነው፤ 9/ “የግብይُ ፈጻ٤ֳַֹ ֳُד ”ג ወይו ግዛאግብይُ ውֹ٤ን በ ُץוየ ָת שףֳ ُና በא₪ጥ ንግድ ףם የףדרـ በֳֹו ው ነው፤ר וንኛውד ጣኑ ዕውቅና ያገኘָם 0/ “ֳወደፊُ የגፈጸו ውָ” ֳُד በנּבـጠ የወደፊُ ׂשን የץ ًץוክክብ የגፈጸוበُ ግנደגግዛُ የאֳ וጥ ወይ₪אֳ ንُץו የُץו ግብይُ ውָ ነው፤ 01/ “የאያዢያ ገንዘብ” ֳُד ግዢ ፈጻג ዎ٤ በገበያ ֶይ ֳגፈፅُב አንድ ግብ ይُ በאያዣነُ ֵያስוׂשጡُ የגገֹו ገንዘብ ነው፤ 02/ “አֳُד ”ָֹו በዚֱ አዋጅ አንׂשጽ 8/1/ የֳאـከـውን የُץו ገበያ የአָֹוነُ ው ነው፤ר וንኛውד ֶחያגዘኛ የאא ץናና የገጠץየግብ ֳُד ”ץኒስَג“ /03 ነው፤ ץኒስَג ُדָ በሕግ וው ወይר צፈጥـየ ֳُד ”ውר“ /04 የרውነُ אብُ የרـጠው አካָ ነው፤ 05/ “ወዲያውኑ የגፈጸו ውָ” ֳُד በُוፈጸגክክብና ክፍያ ወዲያውኑ የץ የُץו ግብይُ ውָ ነው፡፡ ክፍָ ሁֳُ የኢُዮጵያ የُץו ገበያ וּהּהא .3 1/ የኢُዮጵያ የُץו ገበያ /ከዚֱ በኋֶ “የُץו ገበያ” እየֳֹוـ የגጠִב /ף የֲነና የሕግ ُםንግאቤُነً የֳֹו ኖֲ וּהـ ውነُ ያֳው የገበያר ፡፡ָחּׁשּהـ 2/ የُץו ገበያው በዚֱ አዋጅ አንׂשጽ 8 የֳאـከًُን የגያגּה ִח ፤ָٍסይኖ ֶֹُוያֻْው አ ጫዎ٤אׂשא 8/ “electronic signature’ means data in electronic form, affixed to or logically associated with, a data message, which may be used to identify the signatory in relation to the data message and to indicate the signatory’s approval of the information contained in the data message; 9/ “exchange actor” means any person recognized by the Authority who engages in the business of buying and selling exchange trade contracts for others or for his own account; 10/ “futures contract” means an exchange traded contract to buy or sell a commodity for delivery of the physical good at a specified future date; 11/ “margin” means the funds which must be deposited by exchange actors as collateral for a given transaction for the exchange; 12/ “member” means any person that fulfills the requirements of Article 8(1) of this proclamation; 13/ Ministry” means the Ministry of Agriculture and Rural Development of the Federal Democratic Republic of Ethiopia; 14/ “person” means any physical or juridical person; 15/ “spot contract” means an exchange trade contract for immediate delivery of and payment for the commodity PART TWO THE ETHIOPIA COMMODITY EXCHANGE 3. Establishment 1/ The Ethiopia Commodity Exchange (hereinafter ‘the Exchange’) is hereby established as a wholly state owned market institution having its own legal personality. 2/ The Exchange shall have Members, with permanent seats, who meet the necessary requirements set out in article 8 of this Proclamation. 3¹þ9) gA ØÁ‰L ነU¶T Uz¤È qÜ R ^1 ነּሴ @9 qN 09)(9 ›.M Federal Negarit Gazeta No. 61 4th September, 2007… page 3901 3/ የُץו ገበያው ֳֹוቤُነُ፣ አָֹוነُና የףם አסףא የֳـያዩ ይֲናָ፤ 4/ የُץו ገበያው በዚֱ አዋጅ፣ በُץו ገበያ ץጥּׁש ያ አዋጅגּהּהד ጣኑָםֳֹו 5)$1/09)(9 እና በַֹ٤ አግֹוብ ֶֹْוው ሕጐ٤ የـגዳደץ ይֲናָ፡፡ ጣንָםֳֹו עጣጣּבـ .4 עጣጣּבـ ገበያው ُץוየ סኒስَג ጣን ይֲናָ፡፡ָםֳֹו 5. ዋና עםאያ ቤُ የُץו ገበያው ዋና עםאያ ቤُ በአዲስ አበֹו ֲኖ እንደአስፈֶጊነً ቅץንጫፍ עםאያ ቤِ٤ን በַֹ٤ ቦٍዎוּהּהד ٤ ይ٤ֶָ፡፡ 6. ዓֶדዎ٤ የُץו ገበያው የאּהּהـበُ ዓֶדዎ٤ የגከִُـ ናْው፣ 1/ የገዢዎ٤ን፣ የָךጮ٤ንና የአገናኞ٤ን ፍֶጐُ በץדካُና የኢُዮጵያ አነስـኛ አ٥٤ףו የገበያ ـሳُፎን በדሳደግ ውጤٍד፣ ግָጽ አץףטን የـከֳـና በץםዓُ የףאג የግብይُ ץםዓُ ፤ץፍጠא 2/ የግዢ ጥያቄ አቅץቦُና የግዢ ጨٍנ ውድድׂשـ ץናጅـው በግָፅ ጨٍנ ٥٤ףጫـ ֹُוጋـስדክ በቃָ በנድא ጨٍנ በግֶጭ በגያካְዱበُ የאገበያያ ኒክስ ُዕዛዝንצየኤַክُ וክ ወይנድא በגያׂשነֹוብץם ץዓُ ወይו ሁֳًו የגካְድበُ የንግድ አץם ץףטዓِ٤ን ጋُ፤ץዘא 3/ የُץו ግብይُን የֳאגከً נאጃዎ٤ን ፣ ֳሕዝብָـከٍאֳ ያዝ፣אֳ ናዊאያግዝ በዘגጨُ የףטדֳ َክኖֹጂ የـደገፈ የצּת አץףטን ግ፤נድד ዊףֹוግـ 4/ ደנጃ ֳወጣֶْው ٤ِץו ግብይُ ኑ ወጥነُ ያֶْው ውֹ٤ንֲגየ ُנטא ዘጋጀُ፤ד 5/ የُץו ደנጃ የוስክץ ወׂُשנንና ዋስُና ያֳው የዕቃ דከ٢ד ደרנኝን ُנטא በדድנግ ግብይُ דካְድ፤ 3/ The exchange shall be demutualized with a separation of ownership, membership, and management. 4/ The exchange shall be governed by this proclamation, the proclamation to establish the Commodity Exchange Authority No. 551/2007, and other relevant laws. 4. Supervising Authority The Ministry of Agriculture and Rural Development shall be the supervising authority of the Exchange. 5. Head Office The exchange shall have head office in Addis Ababa and may have branch offices elsewhere, as may be necessary. 6. Purpose The purposes for which the Exchange is established are: 1/ to create an efficient, transparent, and orderly marketing system that serves the needs of buyers, sellers, and intermediaries, and that promotes increased market participation of Ethiopian small scale producers; 2/ to provide a centralized trading mechanism in which offers to sell and bids to buy are coordinated through a physical trading floor with open outcry bidding or an electronic order matching system or both; 3/ to provide automated back office operations to record, monitor, and publicly disseminate information on Exchange transactions; 4/ to provide standardized grade-specific contracts as the basis of Exchange trading; 5/ to conduct trading on the basis of product grade certificates and guaranteed warehouse receipts; 3¹þ9)1 gA ØÁ‰L ነU¶T Uz¤È qÜ R ^1 ነּሴ @9 qN 09)(9 ›.M Federal Negarit Gazeta No. 61 4th September, 2007… page 3902 6/ ግዴٍን אֳֹוወጣُ የגያጋጥב አደጋዎ٤ን ከናወኑ ግብይِגገበያው የ ُץוነስ በׂשאֳ ٤ን ክፍያና ץክክብ የאፈጸו፤ 7/ ክץክ٤צ በוֹּלግָና ዳኝነُ አדካይነُ የٍגዩበُን ץםዓُ אዘץጋُ፤ 8/ ወቅٍዊ የገበያ נאጃዎ٤ን ֳሕዝּש ብ፤נቅד 9/ የُץו ገበያውንና የአֶֹًוን ֱָውናና ጤናד አץףט የـጠበֲא ׂשኑን ፣ָـከٍא ብץጋገጥ ገበያውን በቅנדֳ 0/ የአደጋ ּׁשጥጥץ አስـዳደץን ـግףֹוዊ በדድנግ በአጠቃֶይ የገበያ ץםዓً ֶይ አደጋ እንዳይከא ُרከֶከָ፡፡ 7. ካፒָٍ የُץו ገበያው የـፈׂשደ ካፒָٍ ብ2 ץ)$ ንֲת /ዮንֵג ሳוሃ ِא ዮን /ሁֳֵُג ብֵג ) ץዮን /ዘጠና ֵגዮን/ በገንዘብና በዓይነُ ـከፍָֻ፡፡ 8. ስֳ አָֹוነُ 1/ አֲאֳ ָֹוን የגፈָግ דንኛውר וው፣ ሀ/ በָםֳֹוጣኑ עאאያ ُנטא በግብይُ ፈጻגነُ ዕውቅና ያገኘ፣ እና ָת ውר ֳֶַ וወይ שףֳ /ֳ በُץו ግብይُ ףם የףדרـ፣ በָٍ፡፡ץን ይኖֲא 2/ የُץו ገበያው በגደነግገው ሁኔٍዎ٤ ፍֳֶـֵ ገበያው በነጻ ُץוየ ُנטא የאׂשא גּה ٤ִגጫዎ٤ ያֻْው አֶֹُו ይኖָٍס፡፡ 3/ በُץו ገበያው የـዘጋጁና በָםֳֹוጣኑ የፀደּׁש የُץו ገበያው የውስጥ ደንቦ٤ ֳአָֹוነُ ብּׁש የגያደץጉ אאዘ ኛዎ٤ን ይደነግጋִ፡፡ 4/ በُץו ገበያው የውስጥ ደንቦ٤ የֳאـከًُን የአָֹוነُ אאዘኛዎ٤ የגያד ֶחንኛውר וው የአָֹו ጫ ֵገዛ ይ٤ֶָ፡፡אׂשא 6/ to clear and settle all transactions conducted on the Exchange to minimize default risk; 7/ to provide a mechanism for dispute resolution through arbitration; 8/ to provide timely market information to the public’ 9/ to carry out market surveillance to ensure the integrity of the members and of the market; 10/ to avoid Contingent risk to the market through implementing risk management by employing proper management mechanism; 7. Capital The authorized capital of the exchange is Birr 250,000,000 (Two Hundred Fifty Million) of which Birr 90,000,000 ( Ninety Million) is paid in cash and in kind. 8. Membership 1/ A member shall be any person: a) recognized as an exchange actor, under the directives of the Authority; and b) engaged in the trading of exchange commodities either for his own account or for the account of others. 2/ The Exchange shall have members with permanent seats which are freely transferable, subject to the terms and conditions that may be prescribed by the Exchange. 3/ The Exchange rules and by-laws to be developed by the Exchange and approved by the authority shall set requirements necessary for membership. 4/ Any person that fulfills membership requirements set by the Exchange rules and by laws may purchase a membership seat. 3¹þ9)2 gA ØÁ‰L ነU¶T Uz¤È qÜ R ^1 ነּሴ @9 qN 09)(9 ›.M Federal Negarit Gazeta No. 61 4th September, 2007… page 3903 5/ አֲא ָֹוን በُץו ገበያው የውስጥ ደንብ በֳאـከًُ אብِ٤ና ጥቅ٤ז የאጠא וׂשብُ ይרጣָ፡፡ 6/ አָֹוነُ ከַֹא ٤ብِ٤ በـጨעד በُץו ገበያው የאገበያየُ אብُ ይרጣָ፡፡ 9. የُץו ገበያው፣ የአֶֹًוና የמስـኛ ወገኖ٤ ነּׂُשጠያـ 1/ የُץו ገበያው ሹודንِ٠፣ ዳይפክ ُבፈጽגֳ ኞ٠ـףט ٠ናצـ ድץጊُ ወይו ግድፈُ ـጠያּׂש ነው፡፡ 2/ የُץו ገበያው ከዚֱ በٍ٤ ከֳאـከًُ ጋץ በـያያዘ ֳגያጋጥב ጉድֳِ٤ ነው፣ ּׂשጠያـ ሀ/ ከُץו ገበያው የግብይُ ץםዓُ፣ ֳ/ ከُץו ገበያው የנאጃ ץםጭُ ዓُ፣ץם ּ/ በُץו ገበያው ከגካְዱ የדከ٢ד ጋዘኖ٤א ٢דከדጋዘኖ٤፣ የא ደרנኞ٤ና የדከא ٢דጋዘኖ٤ ደרנኞד ٤ስאׂשጫ፣ ጃናנጡ የደרגገበያው ከ ُץוበ /א የנד ُץוጋገጫ ٌץרፊኬُ፣ ከናወኑ የክፍያናגገበያው ከ ُץוበ /ט ፣וክክብ አፈጻጸץ 3/ የُץו ገበያው ከንብًנ በֶይ በዕዳ አይጠየቅו፡፡ 4/ አֶֹُו የُץו ግብይُ ውֹ٤ን ሳይፈጽסׂשת ב አግֹוብ ֳֹוው ሕግ ይֲናִ፡፡ ּׂשጠያـ ُנטא 5/ አֶֹُו በስْדው ـወክֹ የר ףטגው וጊُ፣ ግድፈُ ወይץው ድאፈጽגֳ ጉድֳُ ـጠያּׂש ይֲናִ፡፡ 6/ በُץו ገበያው የראـከֶْנው ወይו ከُץו ገበያው ጋץ የףם ግንኙነُ ኖْקው דከ٢ד ኞ٤ንናרנደ ጋዘኖ٤א ٢דከדጋዘንን፣ የא የדከא ٢דጋዘኖ٤ ደרנኞ٤ የדስאׂשጥ ነُץስክוጃና የנያካሂዱ የደגን የףם בያስፈጽגጡ፣ ክፍያን የרגጋገጫ የנד ወይףם ٤ַֹ וዎ٤ን የגያከናውኑ מስـኛ ወገኖ٤ አግֹוብ ֶֹْוው ውֹ٤ና ሕጐ٤ ይֲናִ፡፡ ּׂשጠያـ ُנטא 5/ Membership shall entitle a member of the Exchange to exercise such rights and privileges as provided under the Exchange rules and by laws. 6/ Membership shall, among other things, confer a right to trade on the Exchange 9. Liability of the Exchange, Members, and Third parties 1/ The Exchange shall be liable for any acts or omissions of its officers, directors, and employees. 2/ The Exchange shall be liable for any failures relating to: a) Exchange trading system; b) Exchange information dissemination system; c) Exchange-operated warehousing, warehouse receipting, and warehouse receipt central depository; d) Exchange-operated grading and product certification; e) Exchange-operated clearing and settlement 3/ The Exchange shall not be liable beyond its total asset. 4/ The members shall be liable for the non performance of exchange- trade contracts in accordance with relevant law. 5/ The members shall be liable for acts, omissions or failures of any agent acting on their behalf. 6/ Third parties certified or affiliated with the Exchange to perform warehousing, warehouse receipting, warehouse receipt central depository, grading and certification, clearing and settlement or other functions shall be liable in accordance with the relevant contracts and laws. 3¹þ9)3 gA ØÁ‰L ነU¶T Uz¤È qÜ R ^1 ነּሴ @9 qN 09)(9 ›.M Federal Negarit Gazeta No. 61 4th September, 2007… page 3904 0. የُץו ገበያው አוּה የُץו ገበያው፣ 1/ የዳפክ٤צـ ቦץድ፣ 2/ አንድ ዋና ףם አስፈጻג፣ እና 3/ አስፈֶጊው ٪ֶፊዎ٤ና ـףטኞ٤፣ ይኖָٍס፡፡ 01. የዳይפክ٤צـ ቦץድ ጥንቅץ 1/ የዳይפክ٤צـ ቦץድ አףם አንድ አֶֹُו የגኖֲת ُסን רብሳּתውን ጨצו ስድስً በגኒስَס እንዲሁו አוስً በአֶֹُו ይሾִד፡፡ 2/ ዋናው ףם አስፈጻג ድוፅ የדይרጥ የቦץድ አָֹו ይֲናָ፡፡ 3/ የቦץድ ዳይפክץـ የሹُא ወይו የץוጫ ዘאን מስُ ዓُא ይֲናָ፡፡ ֲኖו የቦץድ ዳይפክסـ እንደገና אሾו ወይו ጥ ይ٤ֶָ፡፡נאא 4/ የቦץድ ዳይפክْףם ٤צـውን ሳያנּהጡ እንዲያከናውኑ ֳדድנግ ֳሁִו የዳይפክ٠צـ የףם ዘאን በአንድ ጊዜ እንዲያበቃ አይደנግו፡፡ 5/ የቦץድ ዳይפክץـ ቦٍ ክፍُ በֲגንበُ ጊዜ ףםውን የֳׂשׂשው ዳይפክץـ በـሾאበُ ወይו በנאـጠበُ ሁኔٍ ድץቦ ٤צـክפጥ የዳይנאው እንዲר ֶַ ጉዳዩን גኒስَס ወይו የُץו ገበያው አֶֹُו እንዲያውד ּׁُשድנግ ይኖץበָٍ፡፡ 02. የዳይפክ٤צـ ቦץድ ָםጣንና ـግץֹו የዳይሬክተሮች ቦርድ የሚከተሉት ሥልጣንና ተግባራት ይኖሩታል፣ 1/ የምርት ገበያውን ዋና ሥራ Aስፈጻሚ ይሾማል፣ 2/ የُץו ገበያውን በበֶይነُ ይּבጣጠָף፣ 3/ ֳዋናው ףם አስፈጻـ גጠע የֲኑ ٪ֶፊዎ٤ን ቅጥץ፣ וደֹוና ስንብُ እንዲሁו ደזዝና አበֶْውን ያፀድቃָ፣ 10. Organization of the Exchange The Exchange shall have: 1/ a Board of Directors; 2/ a Chief Executive officer; and 3/ The necessary officers and staff. 11. Composition of the board of Directors 1/ The Board of Directors shall consist of eleven members, of whom six, including the chairperson, are appointed by the Ministry and five are elected by the members. 2/ The Chief Executive Officer shall be an additional ex-officio, non-voting, member of the Board of Directors. 3/ The term of appointment or election of a Board Director shall be for a period of three years. A Board Director shall be eligible for reappointment or re-election. 4/ In order to maintain the continuity of the activities of the Board of Directors, the terms of office of its Board Directors shall not expire at the same time. 5/ In the event of vacancy, the board of Directors shall bring the matter to the attention of the Ministry or members of the exchange so that another person is assigned in the same manner as the Board Director who has vacated his position 12. Powers and Duties of the board of Directors The board of Directors shall have the powers and duties to; 1/ appoint the Chief Executive Officer of the Exchange; 2/ oversee the management of the Exchange; 3/ approve the employment, assignment and dismissal of the Officers of the Exchange accountable to the Chief Executive officer, including their salaries and allowance; 3¹þ9)4 gA ØÁ‰L ነU¶T Uz¤È qÜ R ^1 ነּሴ @9 qN 09)(9 ›.M Federal Negarit Gazeta No. 61 4th September, 2007… page 3905 4/ የُץו ገበያውን ኮץፖُפ ፕֶንና ግብ፣ የו ጃጀُ እናנግብይُ አገָግֹُ ክፍያ አደ ُץ የአደጋ ּׁשጥጥץ አስـዳደץ ስَُףጂን ያፀድቃָ፣ 5/ የـጣץُ ףፍ ֳـወרኑ ስףዎ٤ ወይו ֳኢን‌ ስُאንُ እንዲውָ אደנጉን ያፀድቃָ፣ 6/ የُץו ገበያው ካፒָٍ እንዲጨץו ወይו እንዲׂשንስ ֳגኒስَס ሃሳብ ያָֹוץׂש፣ 7/ የُץו ገበያው የሂכብ אዝገብ በአግּשֹו ጋግጣָ፣נያዙን ያא ግֳጫא ብכየሂ ٤צـገበያው ኦዲ ُץוֳ /8 ያָֹוץׂש፣ 9/ በየወቅً የፋይናንስና የףם እንቅስቃሴ ፣ָֹוץׂשያ סኒስَגֳ ٤ِץፖע 0/ በָםֳֹוጣኑ אጽደּׁש እንደـጠበׂש ֲኖ፣ አָֹוነُን፣ ንግድን፣ የክፍያና ץክክብ አፈጻጸוን፣ የُץו ገበያውን የግብይُ ውֹ٤ን የֳאגከً የُץו ገበያውን ደንቦ٤ና אאዘኛዎ٤ ያወጣָ፣ ያֶָֹּלָך፣ 01/ በָםֳֹוጣኑ በፀደׂשው የُץו ገበያው የውስጥ ደንብ በـደነገገው ُנטא የُץו ገበያውን አዲስ አָֹו ይׂשበֶָ፣ ከአָֹוነُ ያግዳָ ወይו ያרናብָٍ፣ 02/ በُץו ገበያው የـዘנጋው የוֹּלግָና ዳኝነُ ץםዓُ በአግא ּשֹוስًףን ያנጋግጣָ፣ 03/ የቦץዱን ጸּፊ ከُץו ገበያው ـףטኞ٤ ፣ָֹוድאጦ ይץא ካከָא 04/ የُץו ገበያውን በአግُףואֳ ּשֹו የנגዱ የֳـያዩ ኮَגዎ٤ን ያָדּׁשּה፡ 03. የዳይפክ٤צـ ቦץድ ٪ֶፊነُ 1/ የቦץዱ ዳይפክْףם ٤צـውን በـገּתው ጥንቃቄ דከናወን ይኖֹْוץዋָ፡፡ 2/ የቦץድ ዳይפክْףם ٤צـውን በአግּשֹו ገበያው ُץוክንያُ በו ከናወናْውדֳֹו ֶይ ֳגያደُשץ ጉዳُ በነጠֶና በአንድነُ ـጠያּׂש ይֲናִ፡፡ 4/ approve the corporate plan and targets, Exchange transaction fee structure, and risk management strategy of the exchange: 5/ approve the re-investment of net profits into specific activities or investments; 6/ propose to the Ministry to increase or decrease the capital of the exchange; 7/ ensure that proper books of accounts are kept for the exchange; 8/ submit books of accounts to the auditors of the exchange; 9/ submit periodic financial reports and reports on activities to the Ministry; 10/ prescribe and amend exchange rules and requirements regarding membership, clearing and settlement, and contracts traded on the Exchange, subject to approval by the Authority; 11/ admit, suspend, or expel a Member of the Exchange, according to the provisions of the Exchange rules and by-laws as approved by the Authority; 12/ ensure the proper functioning of dispute resolution mechanism provided by the exchange; 13/ select and assign its secretary from among the exchange staff; 14/ appoint various committees to facilitate the proper management of the exchange. 13. Liability of the Board of Directors 1/ Board Directors shall carry out their duties with due care. 2/ They shall be jointly and severally liable to the for damage caused to the exchange by their failure to properly carry out their duties. 3¹þ9)5 gA ØÁ‰L ነU¶T Uz¤È qÜ R ^1 ነּሴ @9 qN 09)(9 ›.M Federal Negarit Gazeta No. 61 4th September, 2007… page 3906 3/ የዚֱ አንׂשጽ ንዑስ አንׂשጽ /2/ ּתኖוץ፣ ጉዳُ ያደרנው የዳይפክ٤צـ ቦץድ ውכኔ ֳֶـתፍ በድוጽ የֳـየ የቦץድ ዳይפክץـ በ٪ֶፊነُ ـጠያּׂש አይֲንו፡፡ 04. የዳይפክ٤צـ ቦץድ የስብם ֹורነ ץםዓُ 1/ የዳይפክ٤צـ ቦץድ ּתያንስ በወץ አንድ ጊዜ ይרበָֹור፡፡ 2/ አስْኳይ ሁኔٍ תያጋጥו ወይּת וያንስ አُף የቦץድ ዳይפክ٤צـ ወይו ዋና סንበאׂשֵ ּׁשጠይת ውגአስፈጻ ףם የዳይפክ٤צـ ቦץድ ስብֹור ይጠָף፡፡ 3/ የዳይפክ٤צـ ቦץድ የስብֹור አጀንዳ ֳቦץድ ዳይפክ٤צـ በቅድגያ אድנስ ይኖץበָٍ፡፡ 4/ አብዛኞዎ٠ የቦץድ አֶֹُו ከـገኙ ָוዐـ ጉֹוዔ ይኖָף፡፡ 5/ የዳይפክ٤צـ ቦץድ ውሳኔ የגያሳָፈው በድוፅ ብָጫ ይֲናָ፡፡ 6/ የዚֱ አንׂשጽ ንዑስ አንׂשጽ /5/ ድንጋጌ ּתኖוץ የגከִُـ ጉዳዮ٤ የגወרኑُ በሁֳُ ጽ ይֲናָ፣וድ ٤צـክפድ ዳይץኛ የቦـስמ ሀ/ ክፍያዎ٤፣ ለ/ የተጣራ ትርፍን Eንደገና ኤንቨስት የማድረግ፣ ּ/ የዋና ףם አስፈጻג ሹُא፣ መ/ የምርት ግብይት ደንቦችን ማፅደቅናማሻሻል፣ 7/ የዳይפክ٤צـ ቦץድ እያንዳንዱን ስብֹור በֳאـከـ በስብֹור ֶይ በـገኙ የቦץድ አֶֹُו የـፈאנ ቃֳ ጉֹוዔ ይይዛָ፣ 8/ የዚֱ አንׂשጽ ድንጋጌዎ٤ እንደـጠበּׁש ֲኖ የዳይפክ٤צـ ቦץድ የשףን የስብם ֹורነ ዓُ ደንብ ֵያወጣ ይ٤ֶָ፡፡ץם 05. የגኒስָَם סጣንና ـግץֹו ُףֹוግـ ጣንናָם ִُـከגየ סኒስَג ይኖָٍס፣ 1/ በאንግُם የגወከִ የቦץድ ዳይפክ٤צـን ይሾָד፣ ያነሳָ፣ 2/ ֳቦץድ ዳይפክ٤צـ የגከፈֳውን አበָ ይወስናָ፣ 3/ Notwithstanding Sub-Article (2) of this Article a Board Director shall not be liable if he has dissented from the decision of the Board of Directors which caused the damage. 14. Procedure of meeting of the Board of Directors 1/ The Board of Directors shall have a meeting at least once a month. 2/ The Chairperson shall call a meeting of the board of Directors, at any time, in cases of urgency or where at lest four board Directors or as the Chief Executive Officer may so request. 3/ The agenda of a meeting of the Board of Directors shall, in advance, be communicated to the Board Directors. 4/ There shall be a quorum where a majority of members are present. 5/ The Board of Directors shall take decisions by majority vote. 6/ Notwithstanding the provisions of sub article(5) of this Article, decisions on: a) fees; b) re-investment of net profits; c) appointment of chief Executive officer; d) approval and amendment of Exchange Rules; shall be made with two-thirds majority vote of the board Directors. 7/ The Board of Directors shall keep minutes for every meeting, which shall be signed by each Board Director present. 8/ Without prejudice to the provisions of this Article, The Board of Directors may adopt its own rules of procedure 15. Power and Duties of the Ministry The Ministry shall have the powers and duties to: 1/ appoint and remove Government representative Board Directors; 2/ fix the allowances to be paid to Board Directors; 3¹ 9)6 gA ØÁ‰L ነU¶T Uz¤È qÜ R ^1 ነּሴ @9 qN 09)(9 ›.M Federal Negarit Gazeta No. 61 4th September, 2007… page 3907 3/ የውጭ ኦዲ٤צـን አወዳድצ አ₪ናፊውን ይאድָֹו፣ 4/ የُץו ገበያውን የـፈׂשደ ካፒָٍ እንዲאደብ ያደץጋָ፣ 5/ በኦዲ٤צـ የסאנאـ የُץו ገበያውን የፋይናንስ ףፖ٤ِץ ያፀድቃָ፣ 6/ ከُץו ገበያው የנׂשበֳُን የካፒָٍ ጥያቄንና የـጣץُ ףፍን እና እንደገና ኢን،ስُ የדድנጊያ ፕֶንን ያፀድቃָ፣ 7/ የُץו ገበያውን አጠቃֶይ ףם ይገאግָד፣ የግִ ዘץፍ በֳֹוቤُነُ ስֳגሳـፍበُ ሁኔٍ ጥናِ٤ ፣ָֹוץׂשቤُ ያ ץክו ٤צኒስُגֳ 8/ የُץו ገበያውን ዓٍאዊና የו™נ ጊዜ የُץו ገበያውን የኮץፖُפ ግቦ٤ን ከቦץዱ ጋץ በאאካከץ ይወስናָ፣ አፈጻጸْדውን ይከֶָٍـ፣ 9/ ֳቦץዱ የרـጠው ָםጣንና ـግץֹו እንደـጠበׂש ֲኖ፣ የאንግُםን የֳֹוቤُነُ אብِדֳ ٤ስከበץ አስፈֶጊ የֲኑ ַֹףם ٤ዎ٤ን ያከናውናָ፡፡ 06. የዋና ףם አስፈጻגው ָםጣንና ـግץֹו 1/ ዋናው ףם አስፈጻג የُץו ገበያውን ያደףጃָ፣ ይָףא፣ ያስـዳድָף፡፡ 2/ የዚֱ አንׂשጽ ንዑስ አንׂשጽ /1/ አጠቃֶይ አነ ጋገץ እንደـጠበׂש ֲኖ ዋናው ףם አስፈጻג የגከָם ִُـጣንና ـግُףֹו ይኖָٍס፣ ሀ/ በዳይפክ٤צـ ቦץድ אጽደּׁש እንደ ፣ָףጥׂשኖ፣ ٪ֶፊዎ٤ን ይֲ ׂשጠበـ ይאድָֹו፣ ያרናብָٍ፣ ֳ/ በُץו ገበያው የውስጥ ደንቦ٤ና አግֹוብ ֶֹْוው ሕጐُנטא ٤ የُץו ገበያውን ַֹـףט ٤ኞ٤ ይׂשጥָף፣ ያስـዳድָף፣ ּ/ የُץו ገበያው ከמስـኛ רዎ٤ ጋץ በגያደץጋْው ግንኙነُ ሁִ የُץו ገበያውን ይወክֶָ፣ ዛግብُא ብכገበያውን የሂ ُץוየ /א በአግּשֹו ይይዛָ፣ 3/ appoint external auditors; 4/ cause the allocation of the authorized capital of the exchange 5/ approve audited financial reports of the exchange; 6/ approve capital injection and net profit re investment plan of the exchange, 7/ evaluate the overall performance of the exchange and submit studies regarding the participation of the private sector in its ownership to the council of Ministers; 8/ approve, in consultation with the Board, the annual and long-term corporate targets of the Exchange and follow up their implantation; and, 9/ without prejudice to the powers and duties given to the Board, perform other functions necessary for the protection of the ownership rights of the State. 16. Power and Duties of the Chief Executive Officer 1/ The chief Executive Officer shall organize, direct, and administer the Exchange. 2/ Without limiting the generality of sub-article (1) of this Article, the Chief Executive Officer shall have the powers and duties to: a) employ, assign, and dismiss Officers, subject to approval of the Board of Directors; b) employ and administer employees of the Exchange, in accordance with the internal rules of the Exchange and the appropriate laws; c) represent the Exchange in all its dealings with third parties and in legal proceedings brought by or against it; d) keep proper books of accounts of the Exchange, and open and operate bank accounts of the Exchange; 3¹þ9)7 gA ØÁ‰L ነU¶T Uz¤È qÜ R ^1 ነּሴ @9 qN 09)(9 ›.M Federal Negarit Gazeta No. 61 4th September, 2007… page 3908 ናוףግצፕ ףםገበያውን የ ُץוየ /ט በጀُ አዘጋጅِ ֳቦץድ ያָֹוץׂש፣ ፣ֶָـን ይከٍבአፈጻጸ וፀድቅת ስኬጃד ףםእንደአስፈֶጊነً የ /נ ገንዘּשን ֳדሳደግ የአጭץ ጊዜ የብድץ ውֹ٤ ይዋዋֶָ፣ የגንׂשሳׂשስና የדይንׂשሳׂשስ ንብُנን በዋስُና ያስይዛָ፣ ገበያው ֱָ ውና ُץוእንደአስፈֶጊነً በ /ר ֶይ ـፅዕኖ የדያደץጉ גּה ንብ٤ِנን ቦץዱን በדስፈׂשድ ይ₪ጣָ፣ ቅָጥፍና ዎ٤ףם ገበያው ُץוֳ /₪ አስፈֶጊ ֲኖ በـገኘው אጠን ָםጣንና ገበያው ٪ֶፊዎ٤ና ُץוֳ ንסֹוግـ ጣָ፣רበውክֳና ይ ኞ٤ـףט ٤ַֹ ክפዳይֳ ُנטא ነውרወגዱ በץበቦ /ׂש ፣ָֹוץׂשያ ُץፖע ድץቦ ٤צـ በ/ የዳይפክ٤צـ ቦץድ ውሳኔን ይፈጽ ጋָ፣ץያደ ו፣ እንዲፈጸָד ንُףֹוግـ ٤ַֹ ጡُንרגዱ የץበቦ /ـ ያከናውናָ፡፡ 07. የዋና ףם አስፈጻגው ٪ֶፊነُ ዋና ףם አስፈጻגው ֲነ ብֹ ወይו በָْـኝነُ በُץו ገበያው ֶይ ֳגያደרץው ጉዳُ በሕግ ُנטא ٪ֶፊነُ ይኖץበָٍ፡፡ 08. የףם አץףא 1/ የُץו ገበያው ገֳָـኛ በֲነ በבֳֹוያ የףאג የףם አץףא ይኖנዋָ፡፡ 2/ በגኒስَא סፅደּׁש እንደـጠበׂש ֲኖ፣ የُץו ገበያው የשף የֲነ የደזዝ ስኬָ ይኖנዋָ፡፡ ክፍָ מስُ የُץו ገበያው አץףט 09. ስֳአֶֹُו የףם አץףא 1/ የُץו ገበያው እያንዳንዱ አֳـ ָֹוይِ የٍגወቅበُን אዝገብና አבּהን የגገָጽ ዳٍ ቤዝ ይይዛָ፡፡ e) prepare and submit to the Board of Directors the work programme and budget of the exchange, and implement the same upon approval; f) enter into short-term loan contracts for the purpose of raising working capital, borrow money on a long-term basis with the approval of the Board, and for those purposes, pledge or mortgage the movable or immovable property of the Exchange; g) sell fixed assets that may not affect the existence of the Exchange with the approval of the Board of Directors; h) delegate his powers to Officers and other employees of the exchange to the extent necessary for the efficient performance of the activities of the exchange; i) submit report to the Board of Directors in the manner prescribed by the Board; j) implement and cause the implementation of the decision of the Board of Directors; and k) perform other activities assigned to him by the Board of Directors. 17. Liability of the Chief Executive Officer The Chef Executive Officer shall be liable, in accordance with the law, for damages caused to the Exchange either intentionally or negligently. 18. Operational Management 1/ The Exchange shall have an autonomous and professional management. 2/ The Exchange shall have an independent salary structure, subject to approval by the Ministry PART THREE OPERATIONS OF THE EXCHANGE 19. Membership Management 1/ The exchange shall maintain a registration and identification of Members and a data base recording their status. 3¹þ9)8 gA ØÁ‰L ነU¶T Uz¤È qÜ R ^1 ነּሴ @9 qN 09)(9 ›.M Federal Negarit Gazeta No. 61 4th September, 2007… page 3909 2/ አֶֹُו በُץו ገበያው የውስጥ ደንቦ٤ የـደነገጉ የአָֹוነُ עאאያዎ٤ን እንዲያከብס ያደץጋָ፡፡ 3/ የُץו ገበያው በአֶֹُו ֶይ የּשץׂשג ቅٍפዎ٤ የגስናገዱበُን ץםዓُ ـግֹו ጊዜ ׂשስָጣኑ በጠየֳֹו ጋָ፣ץዊ ያደף የץׂשגብ የቅٍפዎא ٤ዝገብ ያደףጃָ፡፡ @. ስֳግብይُና የግብይُ ץםዓُ 1/ አָֹו ያֲָነ ወይו በአـ ָֹוወካይነً ዕውቅና ያֶገኘ רው በُץו ገበያው ፡፡וገበያየُ አይ٤ָא 2/ ስֳًץו ጥُף ወይו ደנጃ ከُץו ገበያው የו ُץוስክץ ወׂُשנ ሳያገኝ እንዲሁו ስֳא ًץוጠን፣ ሁኔٍና የדከא ٢דጋዘኑ የגገኝበُን ቦٍ የגገָፅ የאጋዘን דከ٢ד ደרנኝ ሳይኖנው ًץוን በُץו ገበያው ֳግብይُ דቅנብ የـከֳከֳ ነው፡፡ 3/ የُץו ገበያው የግָፅ ጨא ٍנድנክ በቃָ በדስـጋـ ֹُוጫ٥٤ף በግֶጭ ጨٍנ የגያካְዱበُ የאገበያያ אድנክ ወይו በׂُשץ የגካְድ በዘאናዊ َክኖֹጂ የٍገዘ የኤַክُצኒክ ንግድን ዓُ ያካሂዳָ፡፡ץם ገ የንግድנያደ ُנטא 4/ የُץו ገበያው ግብይُና የֳאגከً ውֹ٤ የאגዘገ ּשበُና ከአֶֹُו ግብይُ ጋץ የـያያዙ ጉዳዮ٤ን የגያֶׂשጥፍ ድጋፍ רጪ צּת ይኖנዋָ፡፡ @1. የገበያ נאጃዎ٤ን ስֳףטדጨُ 1/ የُץו ገበያው ֳሕዝብ በֳـያዩ የאገናኛ ዘዴዎ٤ ስֳُץו ዋጋ ወቅٍዊና የֶחـ ጣָ፡፡רጃ ይנא 2/ የُץו ገበያው የዋጋ נאጃዎ٤ እንዳይ ጩףרው እንዲـዘግይ וጩ ወይףר ፡፡וግ አይ٤ָנድד 3/ የُץו ገበያው የኤַክُצኒክ የዋጋ נאጃ ጃָ፡፡ףዓُ ያደץם ጫףטד 2/ The exchange shall enforce membership rules as provided for under the Exchange rules and by-laws. 3/ The Exchange shall operate a system of filing complaints against Members and shall maintain a record of such complaints that shall be made available to the Authority. 20. Trading and Trading System 1/ It shall be unlawful for a person who is not a Member or a recognize agent of a Member to trade on the Exchange. 2/ It shall be unlawful for a commodity to be traded on the Exchange without the issuance of an Exchange product certificate as to the product quality and grade and of an Exchange warehouse receipt as to the product quantity, condition, and location of storage. 3/ The Exchange shall operate a single trading system which matches offers and bids based on open outcry on a physical trading floor or an automated system for remote electronic trading. 4/ The Exchange shall operate a back office in which transactions on contracts are recorded and which shall facilitate all matters related to members’ trades 21. Market Information Dissemination 1/ The Exchange shall provide timely and complete price information to the public at large, through a variety of media. 2/ The Exchange may not withhold or delay price information for any reason. 3/ The Exchange shall operate a public electronic price information dissemination system. 3¹þ9)9 gA ØÁ‰L ነU¶T Uz¤È qÜ R ^1 ነּሴ @9 qN 09)(9 ›.M Federal Negarit Gazeta No. 61 4th September, 2007… page 3910 @2. የُץו ግብይُ ውֹ٤ 1/ የُץו ገበያው ከግብץና ٤ِץו ጋץ በـያያዘ ወዲያውኑ ወይו ወደፊُ በגፈጸב ውֹ٤ ֶይ ِץםאـ ይָףט፡፡ 2/ የُץו ገበያው የًץוን ደנጃ፣ ًץו የץׂשגብበُን ׂשንና ቦٍ እንዲሁ٤ַֹ ו የውָ ድንጋጌዎ٤ ያካــ ውָ ያዘጋጃָ፡፡ @3. ደנጃ ስֳדውጣُና ስֳוስክץነُ נדጋገጫ 1/ የُץו ገበያው በገበያው ֳגካְድ ግብይُ ዓֶד የፀደּׁש ወይֹוׂשـ וይነُ ያገኙ ደנጃዎ٤ን ያወጣָ፣ ይጠብቃָ፡፡ 2/ የُץו ገበያው ደנጃ የדውጣُና የנדጋገጥ ףם ያከናውናָ ወይו ֶַ ףטእንዲ ףם ው ይֱንኑר ኛـስמ ይፈቅዳָ፣ ֳُץו ግብይُ ዓֶד የُץו የוስክץ ወׂُשנ ይרጣָ፡፡ 3/ የኢُዮጵያ ደנጃዎ٤ን አጽድדֳ ּבውጣُ ብْኛ ָםጣን የרـጠው የኢُዮጵያ ደנጃዎא ٤ዳָםֳֹו ּתጣን ָםጣን እንደـጠበׂש ֲኖ የُץו ገበያው በዚֱ አንׂשጽ የרـጡُን ـግُףֹו ያከናውናָ፡፡ 4/ የُץו ደנጃን ֳנדጋገጥ በُץו ገበያው ኛ ወገንـስמ וንኛውד ይነُ ያገኘֹוׂשـ ወይـ וወካይ በُץו ገበያው ውስጥና ከُץו ገበያው ውጭ በُץו ግብይُ ፡፡וፍ አይ٤ָـሳא ףם @4. ስֳ ዕቃ דከ٢דና ደרנኝ 1/ የዕቃ דከא ٢דጋዘን ደרנኞץם ٤ዐُ አዋጅ ׂשጠበـጽ @6 እንደׂשአን 5)(2/09&(3 ץጥּׁש ֲኖ፣ የُץו ገበያው የግብץና ٤ِץו የክ ብደُ አֳካክንና የ٤ِץו ዝץዝץ አስـዳደץን ካְድናד ጋዘንንא ፣ የዕቃዎ٤ُףםא ףם ֳግብይً ዓֶדዎ٤ የُץו ገበያውን የዕቃዎ٤ ስጠُ ይ٤ֶָ፡፡א ኞ٤רנደ ٢דከד 2/ በዕቃ דከא ٢דጋዘን ደרנኞץם ٤ዐُ አዋጅ ጠውרـየ סኒስَגֳ 5)(2/09&(3 ץጥּׁש የዕቃዎד ٤ከא ٢דጋዘኖ٤ን የּבאጣጠץ ገበያው ُץוኖ፣ የֲ ׂשጠበـጣን እንደָם የግብץና ٤ِץו የክብደُ አֳካክንና የ٤ِץו ዝץዝץ አስـዳደץን מ ףטגֳ ףםስـኛ רው የוስክץ ወא ׂُשנስጠُ ወይו ֳግብይً ዓֶדዎ٤ የُץו ገበያውን የዕቃዎד ٤ከ٢ד ደרנኞא ٤ስጠُ ይ٤ֶָ፡፡ 22. Exchange Contracts 1/ The Exchange shall operate with spot and/or future contracts in agricultural commodities. 2/ The Exchange shall develop the grade basis, date and place of delivery of the commodities and other contractual terms for each contract. 23. Grading and Certification 1/ The Exchange shall develop and maintain Exchange approved grades and standards for the purposes of trading on the Exchange. 2/ The exchange shall carry out grading and certification or approve a third party to do the same and to issue an Exchange produce certificate for the purposes of Exchange trading. 3/ The exchange shall carry out its duties under this Article without prejudice to the Quality Standards Authority of Ethiopia as the sole government organ mandated to approve and declare Ethiopian standards. 4/ Any third-party exchange-approved grading and certification agents shall not engage in commodity trading within or outside the Exchange. 24. Warehousing and receipts 1/ Without prejudice to Article 26 of the Warehouse Receipts System Proclamation No. 372/2003, the Exchange may operate warehouses to carry out weighing and inventory management of agricultural commodities and issues Exchange warehouse receipts for the purposes of Exchange trading. 2/ Without prejudice to the powers of the Ministry to regulate warehouses under the Warehouse Receipts System proclamation No. 372/2003, the Exchange may certify a third party warehouse operator to carry out weighing and inventory management of agricultural commodities and to issue Exchange warehouse receipts for the purposes of Exchange trading. 3¹þ9)0 gA ØÁ‰L ነU¶T Uz¤È qÜ R ^1 ነּሴ @9 qN 09)(9 ›.M Federal Negarit Gazeta No. 61 4th September, 2007… page 3911 3/ የُץו ገበያው በዘאናዊ َክኖֹጂ የـደገፈ የُץו ገበያ የዕቃ דከ٢ד ደרנኞ٤ ውר ኛـስמ ֶַ וዋָ ወይנጫ ይኖאׂשስד ይֱንኑ ףם እንዲףט ይፈቅዳָ፡፡ 4/ በُץו ገበያው ֹוׂשـይነُ ያገኘ የዕቃዎ٤ ُץוው በר ኛـስמ ያካሂድגጋዘን የא ገበያውו ֲነ ከُץו ገበያው ውጭ በُץו ግብይُ אሳـፍ አይו٤ָ፡፡ @5. ክፍያና ግዴٍ אፈጸגያ 1/ የُץו ገበያው በָםֳֹוጣኑ עאאያዎ٤ ግንኙነُ ףםግብይِ٤ን የ ُנטא ካֳው ወይו ዕውቅና ካገኘ የክፍያ ኛ ወገንـስמበ וወይ וּהـ ያגፈጸא አדካይነُ ክፍያንና ץክክብን ይፈጽָד፡፡ 2/ አֶֹُו በُץו ገበያው የውስጥ ደንቦ٤ ףםየ ץገበያው ጋ ُץוከ ُנטא ግንኙነُና ዕውቅና ካֳው የُץו ገበያው የክፈያ אፈጸגያ ُדּהـ የֹוንክ ሂכብ ይከፍִٍ፡፡ 3/ በُץו ገበያው የውስጥ ደንቦُנטא ٤ ክፍያንና ግዴٍን ֳדስፈጸו ዓֶד፣ አֶֹُו የףם ግንኙነُና ዕውቅና ֳֶው የُץו ገበያው የክፍያ אፈጸגያ ُדּהـ የገּתና የወጪ ُዕዛዞ٤ን እንዲרጥ የውክָና ָםጣን የጽሁፍ דስٍወּׂשያ ጣִ፡፡רገበያው ይ ُץוֳ 4/ የُץו ገበያው የእያንዳንዱን አָֹו የግብይُ አוּה በየግብይُ ׂשኑ ያስٍץቃָ፡፡ 5/ የُץו ገበያው በየግብይُ ׂשኑ ֳእያንዳንዱ አָֹו የאገበያያ አוּהና ሁኔٍ אግֳጫ በጽሑፍና በኤַክُצኒክ ያወጣָ፡፡ 6/ የُץו ገበያው የአֶֹُוን የאገበያያ አוּהና ሁኔٍ אግֳጫዎ٤ን ُנטא በדድנግ ግዴٍْውን እንዲወጡ የףם ግንኙነُ ֶֶْው የክፍያ אፈጸגያ ጣָ፡፡רያ ይעאא ُדּהـ 7 የُץו ገበያውና አֶֹًו የףם ግንኙነُ ֶֶْው የክፍያ אፈጸגያ ُדּהـ ገንዘብ ከአንድ አָֹו ወደ ֶַ አָֹו ወይו ከُץו ገበያው የֹוንክ ሂሳብ ወደ ֶַ የֹוንክ ሂכብ የኤַክُצኒክስ ُዕዛዝ דስ ያዎ٤עאא גּה וׂשጠאፊያን በֳֶـ እንዲያስֶָـፉ ይፈቅድֶْዋָ፡፡ 3/ The Exchange shall maintain an automated central depository of Exchange warehouse receipts or approve a third party to do the same. 4/ Any third-party Exchange- approved warehouse operator shall not engage in commodity trading within or outside the Exchange 25. Clearing and Settlement 1/ The Exchange shall clear and settle all transactions on the Exchange either clearing internally with affiliated, recognized Clearing Institutions or through third-party Clearing Institutions, in accordance with the directives of the Authority. 2/ Members shall maintain accounts with any of the affiliated recognized Exchange Clearing Institutions, in accordance with the Exchange by-laws. 3/ Members shall grant written notice of Power of Attorney to the Exchange authorizing the Exchange to issue debit and credit instructions to affiliated recognized Exchange Clearing Institutions, for the purposes of clearing and settlement, in accordance with Exchange by laws. 4/ The Exchange shall reconcile daily each Member’s trading position on trading days. 5/ The Exchange shall generate a written and electronic daily net obligation statement for each Member on trading days. 6/ The Exchange shall, on the basis of the net obligation statement, instruct the affiliated recognized Clearing Institutions to settle the obligations of the Members. 7/ The Exchange and Members shall be allowed to give standing written instructions to affiliated recognized Clearing Institutions to authorize such institutions to transfer funds to and from Member and Exchange Accounts established in these same institutions for the purposes of Exchange transactions, on the basis of an electronic instruction. 3¹þ9)01 gA ØÁ‰L ነU¶T Uz¤È qÜ R ^1 ነּሴ @9 qN 09)(9 ›.M Federal Negarit Gazeta No. 61 4th September, 2007… page 3912 8/ ፊדץዎ٤ ሕጋዊ ውጤُ እንዲኖْףው በእጅ אፈונ እንዳֳֹْוው የגያስገድድ ሕግ፣ ደንብ፣ עאאያ ወይו የአץףט ጽ ንዑስׂש፣ ֳዚֱ አንוץኖּת ድוָ አንׂשጽ /7/ አፈጻጸו በኤַክُצኒክስ ፊדץ ገንዘብ እንዲֳֶـፍ የרـጠ ُዕዛዝ ዋָ፡፡נይነُ ይኖֹוׂשـ וበ וּהـ ያגፈጸא የክፍያ וናْውד /9 ገበያው ውጭ ُץוነ ከֲ וገበያው ُץ በግብይُ ُףדרא ףם አይו٤ָ፡፡ @6. የገበያ ክָُُ የُץו ገበያው በָםֳֹוጣኑ עאאያ ያـከٍא ን የገበያִُـከגየ ُנטא ዘዴዎ٤ ይጠָדׂש፣ 1/ የአֶֹُוን ዕዳ ֳאከָٍـ የגያስ٤ָ የገበያ ዕዳ ּבאጣጠעያ ץםዓُ፣ 2/ በُץו ገበያው ከـወרኑُ ጣעያ በֶይ ክፍُ ቦٍዎ٤ እንዳይኖדֳ סድנግ የגያግዝ የክፍُ ቦٍዎ٤ ጣעያ ץםዓُ፣ 3/ በውָ גֳ ُנטאደנግ የዋጋ ֳውጥ ጣעያ የגወרን የዋጋ ץםጭُ ጣעያ፣ ٤ַֹ ጠይቃْውגጣኑ የָםֳֹו /4 ሳሳይ ዘዴዎ٤፡፡אـ @7. የአደጋ ּׁשጥጥץ አስـዳደץ የُץו ገበያው በָםֳֹוጣኑ עאאያ ያעጣጠּבא ን የአደጋִُـከגየ ُנטא የአስـዳደץם ץዓِ٤ን ይጠָדׂש፣ 1/ የእያንዳንዱን አָֹו አוּהና ሁኔٍ የגያሳይ የአֶֹُו የዋስُና דׂשـጭ ገንዘብ፣ 2/ የُץו ገበያውን ዕዳዎאֳ ٤₪ፈን የגያስ٤ִ የክፍያ אፈጸגያ ዋስُና ፈንድ፣ 3/ ֳእያንዳንዱ ግዢ በאያዣነُ የגያገֳግָ ያዣ ገንዘብ፣אጭ የדׂשـ 4/ ከדׂשـጩ ገንዘብ አንፃץ የአִֹוን አוּהና ሁኔٍ የגያሳይ የንግዱን የـጋֶጭነُ ጠን፣א 8/ Notwithstanding provisions of any law, regulation, directive or customary practice that requires a signature be handwritten in order to have legal effect or enforceability, signature requirement under Sub-Article (7) of this Article is met if an electronic signature is used to authorize fund transfers. 9/ Any Clearing Institution shall not engage in trading activity within or outside the exchange. 26. Market Surveillance The Exchange shall, in accordance with the Authority’s Directives, establish and maintain the following market surveillance tools: 1/ market loss monitoring, which is a system to track losses of Members: 2/ maximum open positions; which is a system to avoid build up of open positions above Exchange-specified limits: 3/ price spread limit, which limits allowable price variation on a contract; or 4/ other similar tools as the Authority may require. 27. Risk Management The Exchange shall, in accordance with the authority’s Directives, establish and maintain the following risk management systems: 1/ member security deposits, a deposit which determines each Member’s exposure: 2/ settlement guarantee fund, which guarantees net settlement liability of the Exchange; 3/ margin requirements, a deposit that serves as collateral for each transaction; 4/ trading exposure limits, which monitors Member exposure relative to the security deposit; 3¹þ9)02 gA ØÁ‰L ነU¶T Uz¤È qÜ R ^1 ነּሴ @9 qN 09)(9 ›.M Federal Negarit Gazeta No. 61 4th September, 2007… page 3913 5/ በገበያ ׂשናُ በገበያው ውስጥ የגፈጸב የׂשን ׂשـን የـጣס ግዴٍዎ٤፣ 6/ በُץו አቅץቦُ נገድ ዲתፕֵንን ወጣُאֳֹו ያግዝ ግዴٍንגየ ץስከበדֳ የגጣָ ቅጣُ፣ ጠይቃْውגየ ִחጣኑ እንዲָםֳֹו /7 ዓِ٤፡፡ץם ٤ַֹ @8. ስֳክץክץ አፈٍُ 1/ የُץו ገበያው ከُץו ግብይُ ጋץ የـያያዙ ክץክ٤צ በוֹּלግָና ዳኝነُ የגፈًበُን עאאያና ץםዓُ በָםֳֹוጣኑ አጽድּב ያወጣָ፡፡ 2/ በዚֱ አንׂשጽ ንዑስ አንׂשጽ /1/ ُנטא በُץו ገበያው የגወጣው የוֹּלግָና ዳኝነُ עאאያና ץםዓُ በֳـይ የגከִُـን דካُـ አֳበُ፣ ሀ/ የוֹּלግָና ዳኞ٤ን ـፈֶጊ ٤ֹٍና የአנףאጥ ץםዓُ፣ ֳ/ የוֹּלግָና ዳኝነً የףאגበُን ዓُ፣ץם ּ/ ከוֹּלግָና ዳኝነً ጋץ የـያያዙ ወጭዎ٤ ስֳג₪ፈኑበُ ሁኔٍ፡፡ 3/ የُץו ገበያው በዚֱ አንׂשጽ ُנטא ግָና ዳኝነُ የጽሕፈُוֹּלካְደው የגֳ ቤُ አገָግֹُ ይרጣָ፡፡ @9. ስֳዋስُና የُץו ገበያው የግָ፣ የፋይናንስ፣ የግብይُና ַֹ٤ ከُץו ገበያው ጋץ የـያያዙ נאጃዎ٤ የגጠበּׁשበُን ץםዓُ ያָדּׁשּה፣ ይጠብቃָ፡ #. የُץו ገበያውን አ٤צףט ስֳֳאወጥ ከגከִُـ ጉዳዮ٤ ጋץ የـያያዙ የُץו ገበያውን አֳאֳ ٤צףטወጥ በቅድגያ የָםֳֹוጣኑን ፈቃድ דግኘُ ያስፈָጋָ፣ 1/ የُץו ገበያው עאאያዎ٤ና የውስጥ ደንቦ٤፤ 2/ አָֹוነُ፤ 3/ የአገָግֹُ ክፍያዎ٤፤ 5/ daily settlement of net obligations on market positions on trading days; 6/ delivery default penalties, which enforce discipline in delivery of goods; or 7/ other similar systems as the Authority may require. 28. Dispute Resolution 1/ The Exchange shall, subject to the approval of the Authority, establish rules and procedures for the resolution of disputes arising from exchange transactions through arbitration. 2/ The rules of arbitration to be established by the Exchange under Sub-Article(1) of this Article shall, in particular, prescribe: a) the qualifications and manner of appointment of arbitrators; b) the procedures of the arbitration proceedings: and c) the payment of arbitration related costs. 3/ The Exchange shall provide secretarial services for any arbitration proceeding to be conducted pursuant to the provisions of this Article. 29. Security The Exchange shall provide and maintain a system for protection of personal, financial, trade and other data relating to the affairs of the Exchange. 30. Changes to the Operations of the Exchange The prior approval the Authority shall be required to change the operations of the Exchange with respect to: 1/ the by-laws and rules of the Exchange; 2/ membership; 3/ fees; 3¹þ9)03 gA ØÁ‰L ነU¶T Uz¤È qÜ R ^1 ነּሴ @9 qN 09)(9 ›.M Federal Negarit Gazeta No. 61 4th September, 2007… page 3914 4/ የግብይُ ץםዓُ፤ ዘጋጁ ውֹ٤፤ـገበያው የ ُץוֳ /5 6/ የገበያ נאጃዎץם ٤ጭُ፤ 7/ የክፍያና የץክክብ አፈጻጸו፤ 8/ የክץክץ አፈٍُ፣ እና 9/ ዋስُና፡፡ ክፍָ አُף ָዩ ָዩ ድንጋጌዎ٤ #1. ደንብና עאאያ የדውጣُ ָםጣን 1/ የגኒስُו ٤צክץ ቤُ ይֱን አዋጅ ያስፈָጉ ደንቦ٤ንגየ וስፈጸדֳ ያወጣָ፤ וስፈጸדֳ ጣኑ ይֱን አዋጅָםֳֹו /2 የגያስፈָጉ עאאያዎ٤ን ያወጣָ፡፡ ው ሕጎ٤ْףይኖדነُ የגፈጻـ .#2 የዚֱን አዋጅ ድንጋጌዎ٤ የגቃנን דናْውו ሕግ፣ ደንብ፣ עאאያ ወይו የአוָ ץףטድ በዚֱ አዋጅ በֳאـከًُ ጉዳዮ٤ ֶይ ፡፡וውْףነُ አይኖגፈጻـ #3. አዋጁ የגፀናበُ ጊዜ ይֱ አዋጅ በፌዴָף ነጋُע ጋዜጣ ٍُז ከወጣበُ ׂשን ጀצו የፀና ይֲናָ፡፡ አዲስ አበֹו ነּሴ !9 ׂשን 09)(9 ዓ.ו ግדץ ወָደጊዮץጊስ የኢُዮጵያ ፌዴֶףዊ ዲזክתףያዊ ዚዳንُפፐብֵክ ፕע 4/ trading system; 5/ contracts traded on the Exchange; 6/ market information dissemination; 7/ clearing and settlement; 8/ dispute resolution; and 9/ security. PART FOUR MESELLANEOUS PROVISIONS 31. Power to issue Regulations and Directives 1/ The Council of Ministers shall issue Regulations necessary for the implementation of this Proclamation. 2/ The Authority shall issue directives necessary for the implementation of this Proclamation. 32. Inapplicable Laws No law, regulation, directive or practice shall, in so far as it is inconsistent with this Proclamation, be applicable with respect to matters covered under this Proclamation. 33. Effective Date This Proclamation shall come into force up on Publication in the Federal Negarit Gazeta. Done at Addis Ababa, this 4th day of September, 2007 GIRMA WOLDEGIORGIS PRESIDENT OF THE FEDERAL DEMOCRATIC REPUBLIC OF ETHIOPIA 3¹þ9)04