ISSN 0856 — 1001X. THE UNITED REPUBLIC OF TANZANIA SPECIAL SUPPLEMENT Supplement No. 4 30" June, 2015 {othe Gazete of the United Republic of Tanzania No. 3 Vol 96 dated 30 June, 2013 Printed by the Government Printer, Dares Salaam by Order of Government GOVERNMENT NOTICE NO. 245 published on 30/6/2015 THE FOREIGN EXCHANGE ACT, (Car. 271) REGULATIONS (Made under section 7(1)) ‘THE FOREIGN EXCHANGE (BUREAU DE CHANGE) REGULATIONS, 2015, Regulation Title PARTI PRELIMINARY PROVISIONS 1. Citation. 2. Application, 3. _ Interpretation,Foreign Exchange (Bureau de Change) ‘GN, No. 285 (cond) 10. 2. 1B. 4. 15. 16. 17, 18. 19, 20. 21 22, 23. 24. 25. 26. 21. 28. 29. PART Il LICENSING OF BUREAU DE CHANGE Prohibition of operating without licence. Eligibility. Application for a licence. Processing of application. Review of the Bank’s decision to reject an application Conditions subsequent to provisional approval. Pre-commencement requirements. Grant and validity of licence. Money transfer agreement. ‘Annual fee, Change of ownership. Branch opening. PART IIL GOVERNANCE OF BUREAU DE CHANGE Capital requirements Business name. Composition, appointment and qualifications of the Board. Responsibilities of the Board. PART IV MoE OF OPERATION OF BUREAU DE CHANGE. Scope of operations. Business relocation Display of exchange rates, charges, public notice and licence. Dealings. Security deposit. Customers’ account. Prohibition of dealings other than spot transactions. Refusal to sell. Sale of foreign currency to Non-Residents. International Money transfer.Foreign Exchange (Bureau de Change) GN No 245 (oni) 30. Customers’ rights and obligations. 31. Data collection, submission and retent 32. Customer identification and suspicious transactions, 33. Confidentiality of transactions PART V FINANCIAL STATEMENTS AND POWERS OF THE BANK 34, Financial statements. 35. Powers of inspection by the Bank. PART VI GENERAI PROVISIONS 36. Administrative penalties 37. Notice of suspension or revocation. 38. Training, 39. Revocation of GN No. 88 of 2008.