Rhodesia and Malawi Common Services Guarantee Act
- Commenced on 20 December 1963
- [This is the version of this document at 31 December 2016 and includes any amendments published up to 31 December 2017.]
- [Note: This version of the Act was revised and consolidated by the Law Development Commission of Zimbabwe]
1. Short titleThis Act may be cited as the Rhodesia and Malawi Common Services Guarantee Act [Chapter 22:11].
2. InterpretationIn this Act—“agreement” means an agreement made between a corporation and—(a)a government or any division or department of a government; or(b)any other body or organization outside Zimbabwe;“corporation” means—(a)the Central African Airways Corporation constituted by the Order in Council; or(b)the Zambezi River Authority, formerly the Central African Power Corporation, constituted by the Order in Council; or(c)the Rhodesia Railways referred to in the Order in Council; as the case may be;“International Bank” means the International Bank for Reconstruction and Development;“Minister” means the Minister of Finance or any other Minister to whom the President may, from time to time, assign the administration of this Act;“Order in Council” means the Federation of Rhodesia and Nyasaland (Dissolution) Order in Council 1963 of the United Kingdom.
3. Guarantee of obligations of corporation
4. Application of borrowing of corporationAny loan made by the International Bank to a corporation in terms of an agreement shall be applied by the corporation to the purposes specified in that agreement:Provided that any part of the loan which cannot be so applied shall be applied only to such other purposes as may be approved by the Government of the United Kingdom, the Government of Zimbabwe and the International Bank.
5. Repayment of sums paid by United Kingdom under guaranteeAny sums issued out of the Consolidated Fund of the United Kingdom on account of any guarantee given by the Treasury of the United Kingdom in respect of any loan made to a corporation by the International Bank shall, to the extent of any guarantee given by the Minister in respect of that loan in terms of subsection (1) of section three, be repaid to the Treasury of the United Kingdom by the Minister or such officer in his Ministry as he may authorize thereto out of the general revenues and assets of Zimbabwe, which are hereby appropriated to the purpose, with interest thereon at such rates as the Treasury of the United Kingdom in consultation with the Minister may fix.
6. Implementation of agreements
7. No stamp or other duty payableNo stamp or other duty and no fees or other charges shall be payable in respect of anything done under this Act.
History of this document
20 December 1963