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Indigenisation
and Economic Empowerment (General) (Amendment) Regulations, 2011
(No. 4), S.I. 84/2011
Parliament
of Zimbabwe
July 27, 2011
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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 Economic Empowerment Act [Chapter 14:33], made the following
regulations-
1. These regulations may be cited as the Indigenisation and Economic
Empowerment (Amendment) Regulations, 2011 (No. 4).
2. The Indigenisation and Economic Empowerment Regulations, 2010,
published in Statutory
Instrument 21 of 2010 (hereinafter called the “principal
regulations”) are amended in section 4 (“Every business
to notify extent of present or future compliance with indigenisation”)-
(a) in subsection (4) by the deletion of “a fine not exceeding
level twelve or imprisonment for a period not exceeding five years”
and the substitution of “a fine not exceeding level ten or
imprisonment for a period not exceeding three months”;
(b) by the insertion of the following subsection after subsection
(4)-
“(4a) Where the offence referred to in subsection (4) is committed
by a company, a partnership, a public business corporation or other
kind of association referred to in section 10(1)(c)-
(a) it shall be liable to a fine not exceeding level ten; and
(b) every director, partner or member of the governing body of the
company, partnership, a public business corporation or association
concerned shall be liable to a fine not exceeding level ten or imprisonment
for a period not exceeding three months or both such fine and such
imprisonment.”;
(c) in subsection (6a) by the deletion of “a fine not exceeding
level twelve or imprisonment for a period not exceeding five years”
and the substitution of “a fine not exceeding level eleven
or imprisonment for a period not exceeding four months”.
3. Section 5 (“Approval and amendment of indigenisation implementation
plans and prescription of thresholds and timeframes”)(1) of
the principal regulations is amended-
(a) in subsection (2a) by the deletion of “imprisonment for
a period not exceeding five years” and the substitution of
“imprisonment for a period not exceeding four months”;
(b) by the insertion of the following subsection after subsection
(2a)
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