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Petroleum Act (Act 11/2006) - [Chapter 13:22]
February 09, 2007

Published in the Government Gazette: 9th February, 2007
Commencement: not yet in force. Date to be fixed by statutory instrument in terms of s.1(2).

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View the amended Petroleum Bill (HB 5A, 2006)


Petroleum Act

ARRANGEMENT OF SECTIONS

PART I
Preliminary

Section

1. Short title and date of commencement.
2. Interpretation.

PART II
Establishment and Functions of Petroleum Regulatory Authority

3. Establishment of Petroleum Regulatory Authority.
4. Functions and powers of Authority.

PART III
Petroleum Regulatory Authority Board

5. Establishment of Petroleum Regulatory Authority Board.
6. Constitution of Board.
7. Terms of office and conditions of service of members.
8. Disqualifications for appointment as member.
9. Vacation of office by member.
10. Dismissal or suspension of members.
11. Filling of vacancies on Board.
12. Chairperson and vice-chairperson of Board.
13. Meetings and procedure of Board.
14. Committees of Board.
15. Remuneration and expenses of members of Board and members of committees.
16. Disclosure of interest of members of Board and members of committees.
17. Validity of decisions and acts of Board.
18. Minutes of proceedings of Board and committees.

PART IV
Financial Provisions

19. Funds of Authority.
20. Investment of moneys not immediately required by Authority.
21. Financial year of Authority.
22. Accounts of Authority.
23. Audit of Authority’s accounts.
24. Powers of auditors.

PART V
Miscellaneous Provisions Relating to Authority

25. Minister may give policy directions.
26. Reports of Authority.
27. Chief Executive Officer and other employees of Authority.
28. Exemption from liability for Authority.

PART VI
Licences

29. Licensing requirement.
30. Procurement licence.
31. Retailing licence.
32. Production licence.
33. General duties of licensees.
34. Restrictions on transfer, etc. of licence or petroleum undertaking.
35. Licence application.
36. Terms and conditions of licence.
37. Renewal of licence
38. Amendment of licence
39. Enforcement of licence.
40. Cancellation of a licence.
41. Form of licence.
42. Register of licences.
43. Returns by licensees.

PART VII
Fuel Price Stabilisation Fund

44. Interpretation in Part VII.
45. Establishment of Fuel Price Stabilisation Fund.
46. Objects of fund.
47. Composition of the Fund.
48. Fuel price stabilisation levy.
49. Financial year of Fund.
50. Books of accounts and audit of Fund.

PART VIII
Consumer Protection and Licensee Performance Standards

51. Consumer protection standards.
52. Competition.

PART IX
Maintenance of Strategic Reserves and Price Control

53. Strategic reserves.
54. Petroleum product prices.

PART X
General

55. Inspections.
56. Appeals.
57. Regulations.

PART XI
Offences

58. False statements and declarations and other offences.
59. Disclosure of confidential information and use of information acquired
by inspectors, etc., for personal gain.

PART XII
Savings and Transitional Provisions

60. Savings and transitional provisions.

SCHEDULE: Ancillary Powers of Authority


ACT

To provide for the establishment of the Petroleum Regulatory Authority and its functions and management; to provide for the licensing and regulation of the petroleum industry; and to provide for matters incidental to or connected with the foregoing.
ENACTED by the President and the Parliament of Zimbabwe.

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