AN ACT to establish the Minerals Marketing Corporation of Zimbabwe and to provide for the functions, powers and duties thereof; to provide for the constitution, functions, powers and duties of the Minerals Marketing Board; to provide for the control and regulation of the export, sale and stockpiling of minerals; and to provide for matters incidental to or connected with the foregoing.
MINERALS MARKETING CORPORATION OF ZIMBABWE ACT SECTIONS
- Short title.
MINERALS MARKETING CORPORATION OF ZIMBABWE AND MINERALS MARKETING BOARD
- Establishment of Minerals Marketing Corporation of Zimbabwe.
- Establishment of Minerals Marketing Board.
- Constitution of Board.
- Conditions of office of appointed members.
- Disqualifications for appointment as member.
- Vacation of office by appointed member.
- Minister may require appointed member to vacate office.
- Filling of vacancies on Board.
- Meetings and procedure of Board.
- Committees of Board.
- Remuneration and expenses of appointed members and members of committees.
- Right of certain officers to attend meetings of Board or committees.
- Members to declare connection with companies and firms dealing with Corporation.
- Validity of decisions and acts of Board.
- Execution of contracts and instruments by Corporation.
- Transaction of business of an urgent nature.
- Minutes of proceedings of Board and committees.
FUNCTIONS, POWERS AND DUTIES OF CORPORATION
- Functions of Corporation.
- Powers of Corporation.
- Principles to be observed by Corporation.
- Reports of Corporation.
- Appointment of general manager.
- Minister may give Corporation directions in national interest.
ISSUE OF SHARES AND DEBENTURES BY CORPORATION
- Authorized share capital of Corporation.
- Allotment, issue and transfer of shares of Corporation.
- Liability of shareholder.
- Issue of debentures.
FINANCIAL PROVISIONS RELATING TO CORPORATION
- Conduct of financial affairs of Corporation.
- Capital of Corporation.
- Revenues of Corporation.
- Dividends and repayment of capital.
- Investments and loans by Corporation.
- Corporation to make certain charges to revenue account.