6 No. 17 Repeal and replacement section 26 :. Written Laws (Miscellaneous Amendments) No.3 2010 4. The principal Act is amended by repealing section 26 and substituting ror it the following provisions"Shareholders' local obiigation 26.-( 1) The Minist~r shall, ill consultation with the 'Autho;rity, make regulations prescribing the minimum local shareholding requirement and procedure for approval and transfer of shares in a company holding an electronic communications, postal licence and content service licence. (2) The I\1inister shall, vvi-thin three years from the date of commencement of this Act, in consultation with a company mcorporated in the United Republic and holding an individual or class licence under this Act, make regulations prescribing the minimum shareholding requirement and procedure for selling shares to Tanzania nationals through listing . ,t/ith the stock exchange, in accordance 'with the provisions of the Cap.79 Capital 11arket and Securities .j~ct."