- Download 72
- File Size 283.70 KB
- File Count 1
- Create Date June 30, 2020
- Last Updated June 30, 2020
ESTATE ADMINISTRATORS ACT
Act 16/1998, 22/2001 (s. 4), 22/2001 (s. 4), 14/2002 (s. 44)
ARRANGEMENT OF SECTIONS
- Short title.
COUNCIL OF ESTATEADMINISTRATORS
- Establishment of Council of Estate Administrators.
- Functions and powers of Council.
- Membership of Council.
- Disqualifications for membership of Council.
- Terms and conditions of office of members of Council.
- Vacation of office by members of Council.
- Meetings and procedure of Council.
- Committees of Council.
- Minutes of proceedings of Council and committees.
- Secretary and other staff of Council.
- Funds of Council.
- Financial year of Council.
- Accounts of Council.
- Validity of decisions and acts of Council and committees.
- Execution of instruments by Council.
- Exemption from liability of Council and its members, employees and agents.
- Register of Estate Administrators.
- Register to be open to inspection.
- Qualifications for registration.
- Application for registration.
- Cancellation or suspension of registration.
- Restoration of registration.
- Prohibition against practice without practising certificate.
- Application for practising certificate.
- Issue or refusal of practising certificate.
- Period of validity of practising certificates.
- Terms and conditions of practising certificates.
- Withdrawal of practising certificate.
- Surrender of withdrawn or invalid practising certificate.
- Registered persons to maintain trust accounts.
- Audit of trust accounts.
- Trust account moneys excluded from insolvency or attachment.
- Control of operation of trust account.
- Rights of bank at which trust account kept.
- Saving of set-off, etc., against trust account.
- Circumstances in which trust account need not be kept.
- Trust account of company or partnership carrying on business of estate administrator.
- Offences in relation to trust accounts.
- Establishment of Compensation Fund.
- Constitution of Compensation Fund.
- Compensation for loss due to registered person’s dishonesty.
- Subrogation of Council.
- Contributions may be refunded.
- Financial year of Compensation Fund.
- Audit of Compensation Fund.
- Expenditure from Compensation Fund.
- Fidelity cover.
DISCIPLINARY POWERS OFCOUNCIL
- Improper or disgraceful conduct.
- Disciplinary powers in respect of registered persons.
- Disciplinary powers in respect of persons associated with registered persons.
- Exercise of disciplinary powers by Council on conviction of offence.
- Court to notify Council of certain convictions or conduct. PART VIII
- Appeals against decisions of Council.
- Canvassing, touting or advertising.
- Offences by or in respect of unregistered persons.
- Special provisions relating to companies or partnerships.
- Supervision of employees.
- Information to be notified to secretary of Council.
- Remuneration not recoverable in certain cases.
- Amendment of Cap. 6:01.
- Amendment of Cap. 6:04.
- Amendment of Cap. 24.03.
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.]
1 Short title
This Act may be cited as the Estate Administrators Act [Chapter 27:20].
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