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Indigenisation and Economic Empowerment (General) Regulations, 2010 - Statutory Instrument 21 of 2010
January 29, 2010

Read the Indigenisation and Economic Empowerment Act

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ARRANGEMENT OF SECTIONS

Section

1. Title and date of commencement.
2. Interpretation.
3. Objective of regulations.
4. Every business to notify extent of present or future compliance with indigenisation.
5. Approval and amendment of indigenisation implementation plans and prescription of thresholds and timeframes.
6. Indigenisation of merged or restructured businesses.
7. Indigenisation of unbundled or demerged businesses.
8. Indigenisation where controlling interests in businesses are relinquished.
9. Indigenisation of projected or proposed investments.
10. Persons or parties responsible for submitting forms, making notifications, etc..
11. Proof of compliance with Act.
12. Extent to which procured goods and services are to be subcontracted to indigenous Zimbabweans.
13. Indigenisation and empowerment assessment rating.
14. Employee share ownership schemes or trusts.
15. Identification of potential counterparties to notifiable transactions.
16. Valuation of businesses where truth or accuracy of valuation disputed.
17. Persons acting as fronts to be prosecuted.

FIRST SCHEDULE: Form of Notification of Extent of Indigenisation and Indigenisation Implementation Plan.

SECOND SCHEDULE: Form of Notification and Application Required by Section 3(1) (b) (c) (d) (e) and 4 of Act

THIRD SCHEDULE: Sectors Reserved Against Foreign Investment in Favour of Indigenous Zimbabweans.

FOURTH SCHEDULE: Form for Indigenisation Assessment Rating

FIFTH SCHEDULE: Form for Qualifying Employee Share Ownership Scheme or Trust.

SIXTH SCHEDULE: Form of Request to Minister to Identify Indigenous Zimbabweans as Potential Counterparties to Notifiable Transactions. Form by Indigenous Zimbabwean(s) Intending to Acquire Controlling Interest in Business.


IT is hereby notified that the Minister of Youth Development, Indigenisation and Empowerment, after consultation with the Board, has, in terms of section 21 of the Indigenisation and Empowerment Act [Chapter 14:33], made the following regulations: —

Title and date of commencement

1.  (1) These regulations may be cited as the Indigenisation and Economic Empowerment (General) Regulations, 2010.

(2) These regulations shall come into force on the 1st March, 2010.

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