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Zimbabwe Investment Authority Act (Act 4, 2006)
September 08, 2006
Published in Government Gazette: Friday 8th September, 2006
Commencement: Not yet in force. Date of commencement to be fixed by Statutory Instrument in terms of section 1(2) of the Act

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Zimbabwe Investment Authority Act [Chapter 14:30]


Arrangement of Sections

PART I
PRELIMINARY
1. Short title and date of commencement.
2. Interpretation.

PART II
ZIMBABWE INVESTMENT AUTHORITY
3. Establishment of Zimbabwe Investment Authority.
4. Zimbabwe Investment Authority Board.
5. Constitution of Board.
6. Investment Committee

PART III
FUNCTIONS OF AUTHORITY
7. Functions of Authority.
8. Powers of Authority.
9. Reports of Authority.
10. Chief Executive Officer.
11. Staff of Authority.
12. Minister may give Authority directions in national interest.

PART IV
APPLICATIONS FOR INVESTMENT LICENCES
13. Applications for investment licences.
14. Considerations for approving foreign applications for investment licences.
15. Approval or refusal of applications for investment licences.
16. Period of validity of licences.
17. Renewal of investment licences.
18. Register of investment licences.
19. Investor to notify Authority of non-implementation of investment proposals or changes in particulars.
20. Transfer of investment licences.
21. Power to visit premises and inspect documents.
22. Suspension and cancellation of investment licences.
23. Appeals to Minister.
24. Incentives.
25. Minister may prescribe sectors for investment, extent of value addition, etc.

PART V
FINANCIAL PROVISIONS
26. Funds of Authority.
27. Investment of moneys not immediately required by Authority.
28. Accounts and audit.

PART VI
GENERAL
29. Preservation of secrecy.
30. False statements.
31. Exemption from liability for Authority.
32. Protection of investments.
33. Regulations.
34. Repeal of Caps. 24:16 and 14:07 and savings.
35. Transfer of assets, obligations, etc., of Zimbabwe Investment Centre and Export Processing Zones Authority to Authority.
36. Transfer of employees to Authority and conditions of service of transferred employees.
37. Persons licensed or certified under repealed Acts.

FIRST SCHEDULE : Provisions applicable to the Board.
SECOND SCHEDULE : Powers of Authority.


ACT

To provide for the establishment of the Zimbabwe Investment Authority and its functions; to provide for the promotion and co-ordination of investment; to repeal the Zimbabwe Investment Centre Act [Chapter 24:16] and the Export Processing Zones Act [Chapter 14:07]; and to provide for matters incidental to or connected with the foregoing.

ENACTED by the President and the Parliament of Zimbabwe.

PART I
PRELIMINARY

1 Short title and date of commencement
(1) This Act may be cited as the Zimbabwe Investment Authority Act [Chapter 14:30].
(2) This Act shall come into operation on a date to be fixed by the President by statutory instrument.

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