African Development Fund (Zimbabwe) Act (Chapter 22:02)
Zimbabwe
African Development Fund (Zimbabwe) Act
Chapter 22:02
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Commenced on 9 December 1983
- [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]
This Act may be cited as the African Development Fund (Zimbabwe) Act [Chapter 22:02]. In this Act—“Agreement” means the agreement signed at Abidjan on the 29th November, 1972, providing for the establishment and operation of a body to be known as the African Development Fund;“Fund” means the African Development Fund established in terms of the Agreement;“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. The fund shall have full juridical personality within Zimbabwe and, in particular, full capacity—(a)to contract;(b)to acquire and dispose of movable and immovable property; and(c)to institute legal proceedings. Official communications of the Fund shall be accorded the same treatment as is accorded to the official communications of other international financial institutions of which Zimbabwe is a member. All governors and directors and their alternates and the President and personnel of the Fund including experts performing missions for the Fund—(a)shall be immune from legal process with respect to acts performed by them in their official capacity;(b)when they are not local nationals, shall be accorded no less favourable immunities from immigration restrictions, alien registration requirements and national service obligations, and no less favourable facilities as regards exchange regulations, than are accorded by the State to the representatives, officials and employees of comparable rank of any other international financial institution of which Zimbabwe is a member; and(c)shall be granted no less favourable treatment in respect of travelling facilities than is accorded to representatives, officials and employees of comparable rank of any other international financial institution of which Zimbabwe is a member. The Minister may make such regulations and give such directions as he may deem necessary or convenient for the carrying out of the objects and purposes of this Act.1. Short title
2. Interpretation
3. Legal capacity of the Fund
4. Immunity from legal process
5. Immunity of assets, archives and freedom of assets from restriction
6. Privileges of communications
7. Immunities and privileges of officials and personnel
8. Exemption from taxation
9. Minister’s powers