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ESTATE ADMINISTRATORS ACT (CHAPTER 27:20)

CHAPTER 27:20

ESTATE ADMINISTRATORS ACT

Act 16/1998, 22/2001 (s. 4), 22/2001 (s. 4), 14/2002 (s. 44)

ARRANGEMENT OF SECTIONS

PART I

PRELIMINARY Section

  1. Short title.

PART II

COUNCIL OF ESTATEADMINISTRATORS

  1. Establishment of Council of Estate Administrators.
  2. Functions and powers of Council.
  3. Membership of Council.
  4. Disqualifications for membership of Council.
  5. Terms and conditions of office of members of Council.
  6. Vacation of office by members of Council.
  7. Meetings and procedure of Council.
  8. Committees of Council.
  9. Minutes of proceedings of Council and committees.
  10. Secretary and other staff of Council.
  11. Funds of Council.
  12. Financial year of Council.
  13. Accounts of Council.
  14. Validity of decisions and acts of Council and committees.
  15. Execution of instruments by Council.
  16. Exemption from liability of Council and its members, employees and agents.

PART III

REGISTRATION OFESTATEADMINISTRATORS

  1. Register of Estate Administrators.
  2. Register to be open to inspection.
  3. Qualifications for registration.
  4. Application for registration.
  5. Cancellation or suspension of registration.
  6. Restoration of registration.

PART IV

PRACTISING CERTIFICATES

  1. Prohibition against practice without practising certificate.
  2. Application for practising certificate.
  3. Issue or refusal of practising certificate.
  4. Period of validity of practising certificates.
  5. Terms and conditions of practising certificates.
  6. Withdrawal of practising certificate.
  7. Surrender of withdrawn or invalid practising certificate.

PART V

TRUSTACCOUNTS

  1. Registered persons to maintain trust accounts.
  2. Audit of trust accounts.
  3. Trust account moneys excluded from insolvency or attachment.
  4. Control of operation of trust account.
  5. Rights of bank at which trust account kept.
  6. Saving of set-off, etc., against trust account.
  7. Circumstances in which trust account need not be kept.
  8. Trust account of company or partnership carrying on business of estate administrator.
  9. Offences in relation to trust accounts.

PART VI

ESTATEADMINISTRATORS COMPENSATIONFUND

  1. Establishment of Compensation Fund.
  2. Constitution of Compensation Fund.
  3. Compensation for loss due to registered person’s dishonesty.
  4. Subrogation of Council.
  5. Contributions may be refunded.
  6. Financial year of Compensation Fund.
  7. Audit of Compensation Fund.
  8. Expenditure from Compensation Fund.
  9. Fidelity cover.

PART VII

DISCIPLINARY POWERS OFCOUNCIL

  1. Improper or disgraceful conduct.
  2. Disciplinary powers in respect of registered persons.
  3. Disciplinary powers in respect of persons associated with registered persons.
  4. Exercise of disciplinary powers by Council on conviction of offence.
  5. Court to notify Council of certain convictions or conduct. PART VIII

GENERAL

  1. Appeals against decisions of Council.
  2. Canvassing, touting or advertising.
  3. Offences by or in respect of unregistered persons.
  4. Special provisions relating to companies or partnerships.
  5. Supervision of employees.
  6. Information to be notified to secretary of Council.
  7. Remuneration not recoverable in certain cases.
  8. Amendment of Cap. 6:01.
  9. Amendment of Cap. 6:04.
  10. Amendment of Cap. 24.03.

SCHEDULE

Powers of Council.

AN ACT to establish a council to be known as the Council of Estate Administrators and to provide for its functions and powers; to provide for the registration of estate administrators; to amend the Administration of Estates Act [Chapter 6:01], the Insolvency Act [Chapter 6:04] and the Companies Act [Chapter 24:03]; and to provide for matters connected with or incidental to the foregoing.

[Date of commencement : 1st March, 2000.]

PART I

PRELIMINARY

1    Short title

This Act may be cited as the Estate Administrators Act [Chapter 27:20].

                       2    Interpretation

In this Act—

“appointed member” means a member of the Council other than the Master or the Chief Magistrate of Zimbabwe;

“certificate of registration” means a certificate issued in terms of subsection (2) of section twenty-three or a duplicate certificate of registration issued in terms of rules;

“Compensation Fund” means the Estate Administrators Compensation Fund established by section forty-two;

“Council” means the Council of Estate Administrators established by section three;

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

“member” means a member of the Council;

“Minister” means the Minister of Justice, Legal and Parliamentary Affairs or any other Minister to whom the President may, from time to time, assign the administration of this Act;

“practising certificate” means a practising certificate issued in terms of section twenty-eight and includes a duplicate practising cer

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