Former Administration (Liabilities) Act

Link to law: http://www.parlzim.gov.zw/acts-list/former-administration-liabilities-act-22-06
Published: 1979

Subscribe to a Global-Regulation Premium Membership Today!

Key Benefits:

Subscribe Now
ARRANGEMENT OF SECTIONS

Section

1. Short title.

2. Interpretation.

3. Liabilities of former government.

AN ACT to provide for the settlement of certain liabilities of former Administrations

of Zimbabwe in terms of paragraph 16 of the Third Schedule to the instrument

entitled "The Constitution of Zimbabwe Rhodesia, 1979".

[Date of commencement: 18th April, 1980.]

1 Short title

This Act may be cited as the Former Administration (Liabilities) Act [Chapter 22:06].

2 Interpretation

In this Act-

"fixed date" means the 1st June, 1979;

"former Constitution" means the Constitution of Rhodesia, 1969;

"1979 Constitution" means the Constitution of Zimbabwe Rhodesia, 1979.

3 Liabilities of former government

(1) As from the fixed date, the Government established under the 1979 Constitution

shall assume all debts and liabilities of the Government established by the former

Constitution subject to any conditions applicable thereto immediately before the fixed

date and without prejudice to any rights of security or priority in respect of the

payment of principal, interest, sinking fund and other charges conferred on creditors

of the said former Government.

(2) The rights of stockholders to undertakings given by the Government of Southern

Rhodesia at the time of the issue of any Rhodesian Government stock registered

under the Colonial Stock Act, 1877, of the United Kingdom or any Act amending or

replacing the same shall be maintained and there shall be no departure from the

original contract in respect of such stock.

(3) For the purposes of subsection (2)-

"Rhodesian Government stock" means stock which in terms of subsection (1) forms

part of the public debt.*

*But for a change in numbering, this section is a reproduction of subparagraphs (1),

(2) and (4) of paragraph 16 of the Third Schedule to the instrument entitled "The

Constitution of Zimbabwe Rhodesia, 1979". The subparagraphs have been saved as

an Act of Parliament to be cited as "The Former Administration (Liabilities) Act,

1979" in terms of section 12 (3) of the Zimbabwe Constitution (Transitional,

Supplementary and Consequential Provisions), Order 1980.