Laws and regulations governing businesses 708. Commercial and company law govern national business policies. The laws constitute the functional support for the existence and growth of companies and private enterprises. A new version of the law came into effect in March 2006. The fact that Tanzania reviewed its company law demonstrates the existence of regulatory support for private enterprises. Business conduct is also regulated by other laws and institutions including those relating to: (i) corporate governance; (ii) capital markets; (iii) the fiscal and investment environment; and (iv) accounting, auditing and disclosure. Overall, laws and regulations governing businesses in Tanzania are listed below in Table 5.3. Table 5.3: Tanzania’s Laws and Regulations Governing Businesses Banking and credit laws • Bank of Tanzania Act, 2006 • Banking and Financial Institutions Act, 2006 Civil Procedure Codes • Civil Procedure Code, 1966 Commercial and Company Laws • Companies Act, 2002 • Business Activities Registration Act, 2005 • Export Processing Zones (Amendments) Act, 2006 • Fair Competition Act, 2003 • Special Economic Zones Act, 2006 Constitutions • Constitutions (Consequential, Transitional and Temporary Provisions) Act, 1977 • Constitution of Tanzania Labor Laws • Employment and Labor Relations Act, 2004 Land and Building Laws • The Contractors Registration Act (Act No.17), 1997 • The Written Laws Act (Miscellaneous Amendments) (Act No. 18-1997),1997 • Architects and Quantity Surveyors Registration Act (Act No. 16-1997),1997 • The Engineers Registration Act (Act No. 15-1997),1997 • Land Act, 1999 Securities Law • Capital Markets and Securities Act, 1994 Tax Laws • Income Tax Act, 2004 • Value Added Tax Act Trade Laws • Export Processing Zones (Amendments) Act, 2006 • Tanzania Trade Development Authority Act, 2009 (Act No4/09) Source: World Bank and IFC Law Library. Corporate governance since 2001 709. The CRM notes that Tanzania has developed a code of corporate governance consistent with other guidelines such as the King (South Africa) and Cadbury (United Kingdom), including OECD Principles of Corporate Governance (1999). The Dar es Salaam Stock Exchange promotes the code among listed companies. At the same time there exists a Tanzanian Institute for Corporate Governance. 146