Zimbabwe
Export Credit Reinsurance Act
Chapter 24:06
- Commenced on 1 October 1965
- [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 title
This Act may be cited as the Export Credit Reinsurance Act [Chapter 24:06].2. Interpretation
In this Act—“contract of reinsurance” means a contract of reinsurance entered into in terms of an agreement referred to in section three;“external country” means any country, of any description whatsoever, other than Zimbabwe;“Fund” means the Export Credit Reinsurance Fund established under section four;“Minister” means the Minister of Industry and Commerce or any other Minister to whom the President may, from time to time, assign the administration of this Act;“person” includes any government agency or semi-government agency;“Secretary” means the Secretary of the Ministry for which the Minister is responsible;“trade with an external country” includes—(a)any transaction, including the rendering of a service, which involves a consideration in money or money’s worth accruing from a person in the course of carrying on business or other activities outside Zimbabwe to a person carrying on business in Zimbabwe;(b)any consignment of goods to a person carrying on business or other activities outside Zimbabwe with a view to a transaction referred to in paragraph (a);(c)a sale of goods to a person who intends to export such goods from Zimbabwe;(d)a loan or similar facility connected with a transaction referred to in paragraph (a), (b) or (c) and granted by a person carrying on business in Zimbabwe to a person carrying on business or other activities outside Zimbabwe.3. Agreements for reinsurance
4. Financial arrangements
5. Advisory committees
6. Administration
7. Delegation of powers
Any power which may be exercised under this Act by the Minister alone may be exercised by any officer in his Ministry deputed thereto by him, and any power which may be exercised under this Act by the Minister in consultation with the Minister responsible for finance may be exercised by any officer in the aforesaid Ministry in consultation with an officer in the Ministry responsible for finance respectively deputed thereto by the Minister and the Minister responsible for finance.8. Offences and penalties
9. Regulations
The Minister may make regulations for the better carrying out of the objects and purposes of this Act.History of this document
31 December 2016 this version
Consolidation
01 October 1965
Commenced