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Deposit Protection Corporation Act (Chapter 24:29), Act 7/2011, 9/2011
Parliament of Zimbabwe
March 16, 2012

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Updated to show amendments made by Act 9/2011


DEPOSIT PROTECTION CORPORATION ACT [CHAPTER 24:29]
Act 7/2011, 9/2011

ENACTED by the President and the Parliament of Zimbabwe.

PART I

PRELIMINARY


1 Short title

This Act may be cited as the Deposit Protection Corporation Act [Chapter 24:29].

2 Interpretation

In this Act-

"appropriate registering agency", in relation to-

(a) a banking institution, means the Registrar of Banking Institutions referred to in section 4(1) of the Banking Act [Chapter 24:20];

(b) a building society, means the Registrar of Building Societies appointed in terms of section 5 of the Building Societies Act [Chapter 24:02];

(c) a contributory institution, other than a banking institution or a building society, which is required to be registered under any enactment, means the person who is responsible for registering that institution under the enactment concerned;

"appropriate supervisory agency", in relation to-

(a) a banking institution or financial institution to which Part IX of the Banking Act [Chapter 24:20] applies, means the Reserve Bank;

(b) a contributory institution other than an institution referred to in paragraph (a), means a person or authority with power under any enactment to monitor, supervise or investigate the institution concerned;

"banking business" means the business of accepting deposits withdrawable or repayable on demand or after a fixed period or after notice and the employment of those deposits, in whole or in part, by lending or any other means for the account and at the risk of the person accepting the deposits;

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