MMCZ Act

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

PART I
PRELIMINARY

Section

  1. Short title.
  2. Interpretation.

PART II
MINERALS MARKETING CORPORATION OF ZIMBABWE AND MINERALS MARKETING BOARD

  1. Establishment of Minerals Marketing Corporation of Zimbabwe.
  2. Establishment of Minerals Marketing Board.
  3. Constitution of Board.
  4. Conditions of office of appointed members.
  5. Disqualifications for appointment as member.
  6. Vacation of office by appointed member.
  7. Minister may require appointed member to vacate office.
  8. Filling of vacancies on Board.
  9. Meetings and procedure of Board.
  10. Committees of Board.
  11. Remuneration and expenses of appointed members and members of committees.
  12. Right of certain officers to attend meetings of Board or committees.
  13. Members to declare connection with companies and firms dealing with Corporation.
  14. Validity of decisions and acts of Board.
  15. Execution of contracts and instruments by Corporation.
  16. Transaction of business of an urgent nature.
  17. Minutes of proceedings of Board and committees.

PART III
FUNCTIONS, POWERS AND DUTIES OF CORPORATION

  1. Functions of Corporation.
  2. Powers of Corporation.
  3. Principles to be observed by Corporation.
  4. Reports of Corporation.
  5. Appointment of general manager.
  6. Minister may give Corporation directions in national interest.

PART IV
ISSUE OF SHARES AND DEBENTURES BY CORPORATION

  1. Authorized share capital of Corporation.
  2. Allotment, issue and transfer of shares of Corporation.
  3. Liability of shareholder.
  4. Issue of debentures.

PART V
FINANCIAL PROVISIONS RELATING TO CORPORATION

  1. Conduct of financial affairs of Corporation.
  2. Capital of Corporation.
  3. Revenues of Corporation.
  4. Dividends and repayment of capital.
  5. Investments and loans by Corporation.
  6. Corporation to make certain charges to revenue account.
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