Chapter 13:22

Petroleum Act

Act 11/2006

(TheActwillcomeintooperationonadatetobefixedbythePresident.)

ARRANGEMENT OF SECTIONS

PART I

PRELIMINARY Section

1. Short title and date of commencement.

PART II

ESTABLISHMENT AND FUNCTIONS OF PETROLEUM AUTHORITY

3. Establishment of Petroleum Regulatory Authority.
4. Functions and powers of Authority.

PART III

PETROLEUM REGULATORYAUTHORITY BOARD

5. Establishment of Petroleum Regulatory Authority Board.
6. Constitution of Board.
7. Terms of office and conditions of service of members.
8. Disqualifications for appointment as member.
9. Vacation of office by member.
10. Dismissal or suspension of members.
11. Filling of vacancies on Board.
12. Chairperson and vice-chairperson of Board.
13. Meetings and procedure of Board.
14. Committees of Board.
15. Remuneration and expenses of members of Board and members of committees.
16. Disclosure of interest of members of Board and members of committees.
17. Validity of decisions and acts of Board.
18. Minutes of proceedings of Board and committees.

PART IV

FINANCIALPROVISIONS

19. Funds of Authority.
20. Investment of moneys not immediately required by Authority.
21. Financial year of Authority.
22. Accounts of Authority.
23. Audit of Authority’s accounts.
24. Powers of auditors.

PART V

MISCELLANEOUS PROVISIONS RELATING TOAUTHORITY

25. Minister may give policy directions.
26. Reports of Authority.
27. Chief Executive Officer and other employees of Authority.
28. Exemption from liability for Authority.

PART VI

LICENCES

29. Licensing requirement.
30. Procurement licence.
31. Retailing licence.
32. Production licence.
33. General duties of licensees.
34. Restriction on transfer, etc. of licence or petroleum undertaking.
35. Licence application.
36. Terms and conditions of licence.
37. Renewal of licence.
38. Amendment of licence.
39. Enforcement of licence.
40. Cancellation of licence.
41. Form of licence.
42. Register of licences.
43. Returns by licensees.

PART VII

FUEL PRICE STABILISATIONFUND

44. Interpretation in Part VII.
45. Establishment of Fuel Price Stabilisation Fund.
46. Objects of Fund.
47. Composition of the Fund.
48. Fuel price stabilisation levy.
49. Financial year of Fund.
50. Books of accounts and audit of Fund.

PART VIII

CONSUMER PROTECTION AND LICENSEE PERFORMANCESTANDARDS

51. Consumer protection standards.

PART IX

MAINTENANCE OF STRATEGICRESERVES AND PRICE CONTROL

53. Strategic reserves.
54. Petroleum product prices.

PART X

GENERAL

PART XI

OFFENCES

58. False statements and declarations and other offences.
59. Disclosure of confidential information and use of information acquired by inspectors, etc., for personal gain.

PART XII

SAVINGS AND TRANSITIONAL PROVISIONS

60. Savings and transitional provisions.

To provide for the establishment of the Petroleum Regulatory Authority and its functions and management; to provide for the licensing and regulation of the petroleum industry; and to provide for matters incidental to or connected with the foregoing.

[Date of commencement : Not yet in force.]

PART I

PRELIMINARY

                       1    Short title and date of commencement

• This Act may be cited as the Petroleum Act [Chapter 13:22]
• This Act shall come into operation on a date to be fixed by the President by statutory instrument.

                       2    Interpretation

(1) In this Act—

“Authority” means the Petroleum Regulatory Authority established by section 3;

“Board” means the Petroleum Regulatory Authority Board referred to in section 5;

“Chief Executive Officer” means the Chief Executive Officer of the Authority appointed in terms of section 27;

“fixed date” means the date fixed in terms of section 1(2) as the date of commencement of this Act;

“inspector” means an employee of the Authority appointed to be an inspector in terms of section 55;

“licence” means a procurement, retailing or production licence issued in terms of Part VI;

“licensee” means a person who holds a valid licence;

“member” means a member of the Board;

“Minister” means the Minister of Energy and Power Development or any other Minister to whom the President may, from time to time, assign the administration of this Act;

“NOCZIM” means the State petroleum company called the National Oil Company of Zimbabwe (Private) Limited;

“petroleum company” means a company incorporated or registered in terms of the Companies Act [Chapter 24:03] that is licensed in terms of Part VI;

“petroleum product” means— (a)      petrol; or

• the fuel designed for use in a compression-ignition engine, commonly known as diesel fuel or any derivatives or substitutes thereof; or
• any refined petroleum capable of being used as a motor spirit; or
• illuminating paraffin; or
• aviation fuel; or
• power paraffin; or
• liquid petroleum gas; or
• lubricants that are procured, sold or produced as by-products of any of the foregoing;

“petroleum undertaking” means any activity of a licensee undertaken in connection with the procurement, supply or production of any petroleum product;

“procure” means to procure otherwise than for personal use;

“statutory body” means—

• any commission established by the Constitution; or
• any body corporate established directly by or under an Act for special purposes specified in that Act, the membership of which consists wholly or mainly of persons appointed by the President, a Vice-President, a Minister or any statutory body; or by a commission established by the Constitution.