Being an Act to establish the Sierra Leone Local Content Agency to provide for the development of Sierra Leone local content in a range of sectors of the economy such as industrial, manufacturing, mining, petroleum, marine resources, agriculture, transportation, maritime, aviation, hotel and tourism, procurement of goods and services; public works, construction and energy sectors; to promote the ownership and control of productive sectors in the economy by citizens of Sierra Leone; and to provide for other related matters.
Here’s a summary of the key points from “The Sierra Leone Local Content Agency Act, 2016”:
Title and Purpose:
The act establishes the Sierra Leone Local Content Agency to promote the development of local content in various sectors of the economy, including industrial, manufacturing, mining, petroleum, agriculture, transportation, tourism, and energy.
It aims to facilitate the ownership and control of productive sectors of the economy by citizens of Sierra Leone.
Application:
The act applies to matters related to Sierra Leone Local Content in industries such as mining, petroleum, agriculture, transportation, tourism, construction, manufacturing, health, and energy.
Establishment of Sierra Leone Local Content Agency:
The Sierra Leone Local Content Agency is established as a body corporate with perpetual succession.
It is capable of acquiring, holding, and disposing of property and performing all acts as bodies corporate may legally perform.
The Agency is governed by a Board responsible for its control and supervision.
Board Composition and Tenure:
The Board consists of a Chairman and various members representing ministries, institutions, associations, and enterprises related to local content sectors.
Members of the Board, except the Chairman, serve for a term of three years and may be eligible for re-appointment for one additional term.
Grounds for ceasing to be a member include inability to perform duties, proven misconduct, bankruptcy, conviction of an offense involving fraud or dishonesty, absence from meetings without reasonable cause, or resignation.
Board Meetings and Procedures:
The Board meets at least once every two months.
The Chairman presides over meetings, and in his absence, a member appointed by the Board presides.
A quorum of seven members is required for meetings, and the Chairman has a casting vote in case of a tie.
The Board may co-opt individuals to attend meetings but cannot vote on issues.
Minutes of meetings must be taken, signed by the Chairman, and kept in proper form.
The Board regulates its own procedures.
Conflict of Interest:
Board members must disclose any direct or indirect interests in matters under consideration by the Board.
Failure to disclose such interests constitutes misconduct and may result in removal from the Board.
These points summarize the main provisions of the act, outlining its purpose, establishment of the Sierra Leone Local Content Agency, composition and tenure of its Board, meeting procedures, and conflict of interest regulations.
- Title and Purpose:
- The act establishes the Sierra Leone Local Content Agency to promote the development of local content in various sectors of the economy, including industrial, manufacturing, mining, petroleum, agriculture, transportation, tourism, and energy.
- It aims to facilitate the ownership and control of productive sectors of the economy by citizens of Sierra Leone.
- Application:
- The act applies to matters related to Sierra Leone Local Content in industries such as mining, petroleum, agriculture, transportation, tourism, construction, manufacturing, health, and energy.
- Establishment of Sierra Leone Local Content Agency:
- The Sierra Leone Local Content Agency is established as a body corporate with perpetual succession.
- It is capable of acquiring, holding, and disposing of property and performing all acts as bodies corporate may legally perform.
- The Agency is governed by a Board responsible for its control and supervision.
- Board Composition and Tenure:
- The Board consists of a Chairman and various members representing ministries, institutions, associations, and enterprises related to local content sectors.
- Members of the Board, except the Chairman, serve for a term of three years and may be eligible for re-appointment for one additional term.
- Grounds for ceasing to be a member include inability to perform duties, proven misconduct, bankruptcy, conviction of an offense involving fraud or dishonesty, absence from meetings without reasonable cause, or resignation.
- Board Meetings and Procedures:
- The Board meets at least once every two months.
- The Chairman presides over meetings, and in his absence, a member appointed by the Board presides.
- A quorum of seven members is required for meetings, and the Chairman has a casting vote in case of a tie.
- The Board may co-opt individuals to attend meetings but cannot vote on issues.
- Minutes of meetings must be taken, signed by the Chairman, and kept in proper form.
- The Board regulates its own procedures.
- Conflict of Interest:
- Board members must disclose any direct or indirect interests in matters under consideration by the Board.
- Failure to disclose such interests constitutes misconduct and may result in removal from the Board.
These points summarize the main provisions of the act, outlining its purpose, establishment of the Sierra Leone Local Content Agency, composition and tenure of its Board, meeting procedures, and conflict of interest regulations.