• Version
  • Download 215
  • File Size 129.34 KB
  • File Count 1
  • Create Date June 22, 2020
  • Last Updated June 22, 2020



Acts 62/1964, 8/1967, 15/1970, 43/1975, 42/1977 (s. 3), 22/2001 (s. 4), 14/2002 (s.29) 16/2004 (s. 10), 6/2005 (s 29), 3/2009; R.G.N 1135/1975; S.I. 14/2004.

AN ACT to confer powers and impose duties and restrictions in relation to gold, currency, securities, exchange transactions, payments and debts, and the import, export, transfer and settlement of property, and for purposes connected with the matters aforesaid.

[Date of commencement: 1st June, 1965.]

1    Short title

This Act may be cited as the Exchange Control Act [Chapter 22:05].

                   2    Regulatory powers of the President

(1) Notwithstanding anything to the contrary contained in any enactment, the President may make such regulations relating directly or indirectly to—

  • gold, currency and securities and transactions relating thereto; and
  • exchange transactions; and (c) the control of—
    • imports into and exports from Zimbabwe; and
    • the transfer or settlement of property; and
    • payments; and
    • transactions in relation to debts;

as he deems fit.

(2) Regulations made under subsection (1) may provide for—

  • the prohibition or restriction of dealings in or possession of any gold, currency or securities;
  • the prohibition or restriction of the importation into and exportation from Zimbabwe of any property;
  • the acquisition by any person or assignment to any person or vesting in any person of any property, other than land, or any right thereto and for the determination of compensation in respect thereof;
  • the prohibition or restriction of any dealing in or in relation to any property with persons resident outside Zimbabwe;
  • requiring any person to make statements or produce documents for the purposes of such regulations;
  • entering on any premises and the search of any premises or person for the purpose of giving effect to any such regulation;
  • empowering such authorities, persons or classes of persons as may be specified in the regulations—
    • to make orders, rules or directions for any of the purposes for which regulations may be made under this Act;
    • to confer the power to make such orders, rules or directions on any other authority, person or class of persons;
  • the registration or licensing of persons who carry on any business of dealing in currency, and the fees payable in respect of the application for, and issue and renewal of, registration certificates or licences.

[Paragraph inserted by section 29 of Act 14 of 2002]

  • Different regulations, orders, rules or directions may be made under this section for, or in relation to, different persons or classes of persons, countries, and generally, in relation to anything with respect to which provision is made in subsection (1).
  • The power to make regulations, orders, rules or directions under this section shall extend to the making of regulations, orders, rules or directions having extra-territorial operation.
  • Regulations, orders, rules or directions under this section that provide penalties for contraventions thereof may impose upon any person charged with a criminal offence the burden of proving particular facts.

[Subsection inserted by Act 3 of 2009]

                   3    Evidence and presumptions

  • Any document purporting to be a permit, authority, permission, direction, notice, order or other instrument made or issued by or on behalf of any person or authority in pursuance of any provision of this Act, and to be signed by or on behalf of any such person or authority, shall be received in evidence, and shall, until the contrary is proved, be deemed to be a permit or other instrument so made or issued and signed.
  • Prima facie evidence of a document referred to in subsection (1) may be given by production of a document purporting to be certified as a true copy thereof by such person and in such manner as may be prescribed in regulations made in terms of section two.
  • Any person charged with any act or omission which is an offence under this Act if the act is done or omitted to be done without a permit, exemption, permission or other authorization, shall be presumed to have done or to have omitted to do such act without such permit, exemption, permission or other authorization, as the case may be, unless it is proved that he was in possession of such permit, exemption, permission or other authorization, as the case may be, when he performed or omitted to perform the act in question.