Roasting Plant Corporation Act
- Commenced on 1 February 1992
- [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]
Part I – Preliminary
1. Short titleThis Act may be cited as the Roasting Plant Corporation Act [Chapter 21:07].
2. InterpretationIn this Act—“Board” means the Roasting Plant Board referred to in section four;“Corporation” means the Roasting Plant Corporation referred to in section three;“member” means a member of the Board referred to in subsection (1) of section five;“Minister” means the Minister of Mines or any other Minister to whom the President may, from time to time, assign the administration of this Act;“repealed Act” means the Roasting Plant Act [Chapter 166 of 1974].
Part II – Roasting Plant Corporation and Roasting Plant Board
3. Continuation of Roasting Plant Board under name of Roasting Plant CorporationThe Roasting Plant Board established by section 3 of the repealed Act shall continue in existence as a body corporate under the name of the Roasting Plant Corporation and, in that name, shall be capable of suing and being sued and, subject to this Act, of performing all acts that bodies corporate may by law perform.
4. Roasting Plant BoardThe operations of the Corporation shall be controlled, subject to this Act, by a board to be known as the Roasting Plant Board, constituted in terms of this Part.
5. Constitution of Board
6. Terms and conditions of office of members
7. Disqualification for appointment as memberThe Minister shall not appoint a person as a member and no person shall be qualified to hold office as a member who-
8. Vacation of office by memberA member shall vacate his office and his office shall become vacant—
9. Minister may require member to vacate office
10. Filling of vacancies on BoardOn the death of, or the vacation of office by, a member the Minister may, subject to section five, appoint a person to fill the vacancy.
11. Meetings and procedure of Board
12. Committees of Board
13. Remuneration and expenses of members of Board and members of committeesA member of the Board or of a committee of the Board shall be paid from the funds of the Corporation—
14. Right of certain officers to attend meetings of Board or committeesSuch officers of the Public Service as the Minister may designate shall be entitled to attend meetings and to take part in deliberations of the Board or of any committee established in terms of section twelve as if they were members thereof, but they shall not have a vote on any question before the Board or committee, as the case may be.
15. Members to declare interest in dealings with Corporation
16. Validity of decisions and acts of BoardNo decision or act of the Board or act done under the authority of the Board shall be invalid solely because—
17. Execution of contracts and instruments by CorporationAn agreement, contract or instrument approved by the Board may be entered into or executed on behalf of the Corporation by any person or persons generally or specially authorized by the Board for that purpose.
18. Minutes of proceedings of Board and committees
Part III – Functions of Corporation
19. Functions of CorporationSubject to this Act, the functions of the Corporation shall be to carry on the business of dealing in and treating ores and concentrates and the products and by-products thereof—
20. Powers of Corporation
21. Reports of Corporation
22. Appointment of general manager
23. Minister may give Corporation directions in national interest
Part IV – Issue of shares and debentures by Corporation
24. Authorized share capital of Corporation
25. Allotment, issue and transfer of shares of Corporation
26. Liability of shareholdersThe liability of the holder of a share issued by the Corporation shall be limited to the amount, if any, unpaid on the share.
27. Issue of debentures
Part V – Financial provisions relating to Corporation
28. Conduct of financial affairs of CorporationIt shall be the object of the Corporation so to exercise its functions and conduct its business as to ensure that in each financial year its income is sufficient—
29. Capital of CorporationThe capital of the Corporation shall consist of—
30. Revenues of CorporationThe revenues of the Corporation shall consist of any moneys, other than moneys referred to in section twenty-nine, that may accrue to the Corporation, whether in the course of its operations or otherwise.
31. DividendsWhere in a financial year the revenues of the Corporation are more than sufficient—
32. Investments and loans by CorporationMoneys not immediately required by the Corporation may be invested in such manner as the Board may determine.
33. Corporation to make certain charges to revenue account
34. Establishment and operation of reserve fund
35. Financial year of CorporationThe financial year of the Corporation shall be the period of twelve months ending on the 31st March in each year or on such other date as may be prescribed.
36. Accounts of Corporation
37. Audit of accounts of Corporation
38. Powers of auditors
Part VI – General
39. Exemption from liability of Corporation, member, employees and agentsNo liability shall attach to the Corporation or to any member for any loss or damage sustained by any person as a result of the bona fide exercise or performance by the Corporation, the Board, the general manager or any employee or agent of the Corporation of any function of the Corporation, the general manager or the Board in terms of this Act or any other law:Provided that this section shall not be construed so as to prevent any person from recovering, by action in a court of competent jurisdiction, compensation for any loss or damage sustained by him which was caused by negligence or breach of contract.
40. Indemnity of members, employees and agents of CorporationThe Corporation shall indemnify every member of the Board or of a committee of the Board and the general manager and every auditor, employee or agent of the Corporation against any costs incurred by him in—
41. Investigation into affairs of corporation
42. Exemption from Cap. 14:08Any premises in or upon which the Corporation carries on its functions shall not be a factory for the purposes of the Factories and Works Act [Chapter 14:08].
43. ***[section repealed by section 4 of Act No. 22 of 2001]
45. Transitional provisions and savings
History of this document
01 February 1992