Page 101 - Business_Studies_F5
P. 101

Student's Book  Form Five


          Failure to operate the business             (a)  Premises have ceased to be used for
          Most of the Acts establishing various           the purpose for which the certificate
          licenses have clearly stated that a business    of registration was issued;
          entity that has not complied with the       (b)  The business owner, manager or
          regulations should not start the respective     person-in-charge has, since the
        FOR ONLINE READING ONLY
          business. A  medium-sized  business  in         certificate of registration was issued,
          particular is not expected to operate in        been convicted of any offence;
          Tanzania without having a valid business    (c)  The business owner has become
          license. Therefore, any business without        bankrupt or if a company has gone
          a valid business license is not expected to     into liquidation;
          start or run a business in Tanzania.        (d)  Failure to comply with any condition

          Fines or penalties                              of the certificate of registration;

          The majority of the Acts and regulations    (e)  Submitted false information during
          have clearly stated that there will be fines    the application; and
          or penalties in case a business entity fails to   (f)  Not complying with the laws
          acquire the necessary licenses and permits.     governing the business.
          For example, in Tanzania Mainland, failure
          to comply with the Business registration   Fines or penalties
          procedures, may result in a respective     There are some situations in which fines or
          business entity is facing a fine depending   penalties are instituted even after business
          on the offense(s) committed.               registration. These situations include the
                                                     following:
          Imprisonment                                  (a) Changing location without
          Some of the sanctions stated in some              notification to the issuing
          Acts and regulations have suggested               authority;
          imprisonment due to non-compliance. For       (b) Failure to file tax returns to the
          instance, failure to meet the regulatory          relevant authority;
          requirements of the business registration     (c) Carrying on business at any place
          Act attracts a fine or imprisonment for a         not specified in the certificate of
          certain period.                                   registration; and


          Suspension or revocation or                   (d) Failure  to  surrender  certificate
          de-registration of the license                    of registration which has been
          Some licenses such as business license may        suspended, revoked or cancelled
          be suspended, revoked, de-registered, or          to Registrar.
          cancelled if the following happens:






     Business Studies for Advanced Secondary Schools  92


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