In 2007, the Warehouse Receipt Act (Chapter 18:25) came into operation, to provide for the establishment and registration of warehouses, the licensing of warehouse persons, the issuing of warehouse receipts and the negotiability of the warehouse receipts. The Act also sought to provide the framework governing the storage, grading, weighing and inspection of agricultural commodities.
The Cyber and Data Protection Act (Chapter 12:07) became law in December 2021. In terms of section 2 of the Act, the object of the Act is to increase data protection in order to build confidence and trust in the secure use of information and communication technologies by data controllers, their representatives and data subjects.
Legacy Debt Resolution under the Finance Act No. 7 of 2021 INTRODUCTION During the period of Zimbabwe’s multi-currency regime that was ushered in November 2008 by the then Acting Minister of Finance Hon. Chinamasa and continued for close to a decade, public and private entities procured goods and services from entities outside the country that […]
An analysis of the Banking Act (Chapter 24:20) INTRODUCTION In 2015, the Banking Amendment Act (Act 12 of 2015) brought with it various amendments to the Banking Act (Chapter 24:20), key among these being the introduction of principles of corporate governance, as well as extending the regulatory role of the Reserve Bank to companies that […]
The ‘Use It or Lose It’ Policy in the mining sector INTRODUCTION In terms of Section 2 of the Mines and Minerals Act (Chapter 21:05), the ownership, control, exploitation and disposal of all minerals, mineral oils and natural gases is vested in the President of the Republic of Zimbabwe. It is the responsibility of the […]
Forfeiture of Mining Locations INTRODUCTION Forfeiture is a legal process that allows the Mining Commissioner to take away a mining location from an unproductive owner and open it up for relocation or acquisition by another individual. Loosely interpreted, forfeiture is the loss of one’s mining location due to non-compliance with the law. It is one […]
Summary of the Guardianship of Minors Amendment Act 2 of 2022 The Guardianship of Minors Act (Chapter 5:08) was promulgated to protect the rights of children upon divorce or separation of their parents. The Guardianship of Minors Amendment Act 2 of 2022, amends sections 3, 4 and 5 of the Act. Section 2 of the […]
The Consumer Protection Act: What the Consumer Needs to Know INTRODUCTION “All sales are final and non-refundable” policies are popular amongst a number of boutiques and shops. Many businesses choose to institute this type of policy to save themselves time and money. Consumers in Zimbabwe often fall prey to inappropriate marketing strategies, improper business practices […]
Copyright: Registration and Protections INTRODUCTION Intellectual property has become one of the most renowned drivers of economic growth globally as most countries are moving from traditional resource-based economies to knowledge-based economies. There are four types of intellectual property, namely, patents, trademarks, copyrights, and trade secrets. Due to the current surge in the number of artists […]
Understanding Real Estate Investment Trusts in Zimbabwe DEFINING REAL ESTATE INVESTMENT TRUSTS (REITs) Real Estate Investment Trusts (REITs) are regulated investment vehicles that enable collective investment in real estate. Investors pool their funds and invest in a trust that is divided into units, with the intention of earning profits or income from real estate, as […]