In what is the singular most important development, the fia. This compendium of laws on banking in uganda has been put together by alex buri and joseph kyazzeacknowledgements. Home indian evidence act law of evidence hearsay evidence is no evidence. The financial institutions act the bank of uganda act the bills of exchange act the evidence bankers books act the bankruptcy act the stamps act the moneylenders act. Secondary evidence of the contents of the documents referred to in section 681a of this act shall not be given unless the party proposing to give such secondary evidence has previously given to the party in whose possession or power the document is, or to his advocate, such a notice to produce it as is required by law or such notice as the. Law of banking, negotiable instruments and insurance prepared by fasil alemayehu and merhatbeb teklemedhn 3 this teaching material, which is prepared and presented in the form of a compilation, is organized in three parts based on the three areas of law it incorporates, i. Ugandas banking industry is slowly returning to profitability after almost four years of weak performance which resulted from the aftereffects of the 2011 turbulent economic challenges. Application 1 this act shall apply to all judicial proceedings in or before any court other. Section 34 of the indian evidence act 1872 elucidates that books of accounts, including bank records, which are maintained in the daily course. Bank of uganda bou is the central bank of the republic of uganda. Evidence bankers books act 1930 uganda legal information.
The south african banking sector has undergone significant changes and developments over the past few years, particularly in the regulatory environment with the enactment of several new laws and the promulgation of a host of new regulations that will play an important role in how the sector is regulated going forward. An act with respect to evidence in relation to bankers books. Subject to the provisions of this act, a certified copy of any entry in a banker s books shall in all legal proceedings be received as prima facie evidence of the existence of such entry, and shall be admitted as evidence of the matters, transactions and accounts therein recorded in every case where, and to the same extent as, the original. Implications of information technology in bankingcyber law. The human capital index hci database provides data at the country level for each of the components of the human capital index as well as for the overall index, disaggregated by gender. An act to amend the law of evidence with respect to bankers books.
Learn more arc is a private sector led initiative supported by uba, established to address the incessant build of non performing loans npls in ugandas financial services sector. The bankers book evidence act, 1891 laws of bangladesh. The primary purpose of the bank is to foster price stability and a sound. The evidence act 1967 arrangement of sections chapter i preliminary section 1. At the current time any known changes or effects made by subsequent legislation have been applied to the text of the legislation you are viewing by the editorial team. Our clients, predominantly subsidiaries of internationalglobal companies, include several of the top tier registered banks, nonbanking financial institutions, as well as the larger insurance companies. A compendium of commercial laws in uganda by fountain publishers for the first time, all the laws relating to business and commerce in uganda have been brought together into one substantive reference work. The amendments are to be made in the magistrates court act and the trial on indictment act. Law of banking, negotiable instruments and insurance. This paper examines the system by which companies in uganda are directed and.
The uganda institute of banking and financial services. Evidence may be given of facts in issue and relevant facts. Whereas it is expedient to amend the law of evidence with respect to bankers books. Case in which officer of bank not compellable to produce books. Evidence act 2011 including any amendment made under the. Biggest news source for news in uganda and the east african region,breaking news in uganda and daily news and the latest from uganda the uganda institute of banking and financial services news. Field has defined burden of proof as a metaphorical phrase indicating an obligation to prove a fact or facts. The bankers books evidence act, 1891 1 title and extent. In this act, unless the context otherwise requires. Laws of kenya the banking act chapter 488 note this edition incorporates amendments up to 15th september 2015 printed and published by central bank of kenya for. Authorised by the act parliamentary counselalso accessible at.
Remoral of incapacity to tstity from crime or mteresr 3. Evidence as to application of language which can apply to one only of several persons. Accountants act 1992 ch 266 bank of uganda statute banking act 1969 bankruptcy act. It is provided in section 1011 of the uganda evidence act that whoever desires a court to give judgment as to any legal right or liability dependent on the existence of facts which he or she asserts must prove that those facts exist. It was established under the bank of uganda act, 1966.
His second point was the bankers books evidence act of 1979 which says amongst other things. Law of limitation provisions of bankers book evidence act special features of recovery of debts due to banks and financial institutions act, 1993 tds banking cash transaction tax service tax, asset. Institutions amendment act 2016 the fia amendment act and other notable aspects such as bancassurance and agent banking. This copy of the financial institutions act, 2004 has been updated for informational purposes to include amendments made under act 24 of 2008, act 11 of 2009 and act 23 of 2011 the central bank accepts no liability for any loss arising of its use. In this act, unless the context otherwise requiresinterpretation bank or banker means any person carrying on the business of banking in zambia under the provisions of the banking and financial services act cap. Islamic banking, bancassurance and agent banking, to ugandas banking sector. No officer of a bank shall in any legal proceeding to which the bank is not a party be compellable to produce any banker s book the contents of which can be proved under this act, or to appear as a witness to prove the matters, transactions and accounts therein recorded, unless by order of the court or a judge made for special cause. Pwc is the market leader in the provision of professional financial services and has a team of dedicated experts to service all its clients. Short title this act may be cited as the evidence act. The uganda law reform commission, a government body mandated to periodically. A compendium of laws on banking in uganda african books. The first publication bringing together laws relating to banking in uganda into one volume.
Revised legislation carried on this site may not be fully up to date. Uibfs is a leading provider of training, consultancy, and information services for ugandas financial sector. Evidence as to application of language to one of two sets of facts, to neither of which the whole correctly applies. Introduction good corporate governance has become increasingly recognised worldwide as essential for.
However, studies show that some companies have been successful as a result of good corporate governance in uganda. Definition of a company a company is a corporation an artificial person created by law. In the case of trust bank limited vs lemarsh enterprises, commercial case no. The it act has included all electromagnetic data storage devices in the bankers books evidence act, 1891, so that all electronic data stored in such devices can be submitted as evidence to a court of law. This report compares country practices in uganda with internationally recognized standards and codes in the areas of data dissemination, fiscal transparency, monetary and financial policy transparency, and banking supervision, and in some instances, one or all of the following.
The passing of these amendments means that at least 11 commercial banks in the country can adopt the islamic banking model. The updated version of the act is intended for guidance only and. As of january 2020, according to uganda bankers association, there were million bank accounts in uganda and 11,000 banking agents countrywide. Evidence as to document unmeaning in reference to existing facts. Evidence act 1909 uganda legal information institute. The agent banking company of uganda is a subsidiary devoted to supporting the roll out of the shared agent banking system across the country. This act may be cited as the evidence bankers books act. Law of limitation provisions of bankers book evidence act special features of recovery of debts due to banks and financial institutions act, 1993 tds banking cash transaction tax service tax, asset reconstruction companies, the securitization and reconstruction of financial assets and enforcement of. Corporate governance and banking regulation in uganda address by mr emmanuel tumusiimemutebile, governor of the bank of uganda, to the kcb bank of board of directors retreat, kampala, 2 november 2012. This presentation considers selected laws relating to businesses in uganda, including contract law, sale of goods law, partnerships law, employment law, banking law, property law and international contract law. Hearsay evidence means whatever a person is heard to say it includes. The financial institutions amendment act introduces three new products.