Iron And Steel Industry Act [Chapter 14:11]

Chapter 14:11

Iron And Steel Industry Act

Acts 18/1942, 45/1954, 8/1957, 64/1959, 28/1960, 67/1963, 54/1964; R.G.N. 394/1965; S.I. 593/1983.

ARRANGEMENT OF SECTIONS

Section

1. Short title.
3. Establishment of Commission.
4. Constitution of Commission and terms of office of members.
5. Object and powers of Commission.
6. Agreements scheduled.
7. Confirmation of Main Agreement.
8. Government and Commission authorized to enter into Disposals Agreement.
9. Confirmation of Agreement set out in Schedule B.
10. Confirmation of certain sales.
11. Confirmation of Agreement set out in Schedule C.
12. Confirmation of Agreement set out in Schedule D.
13. Amendment of Agreements.

SCHEDULES

Schedule A: Memorandum of Agreement.

Schedule B: Addendum.

Schedule C: Further Addendum.

Schedule D: Further Addendum.

 

 

1    Short title

This Act may be cited as the Iron and Steel Industry Act [Chapter 14:11].

                       2    Interpretation

In this Act—

“Agreements” means the agreements set out in the Schedules;

“Commission” means the Commission established under this Act;

“Disposals Agreement” means the agreement referred to in paragraph (b) of section six;

“Main Agreement” means the agreement referred to in paragraph (a) of section six;

“Minister” means the Minister of Industry and Commerce or any other Minister to whom the President may from time to time assign the administration of this Act.

                       3    Establishment of Commission

• Upon the 24th July, 1942, there shall be established a commission, under the name of the Rhodesian Iron and Steel Commission, which shall be a body corporate capable of suing and being sued in its corporate name and with power, subject to this Act, to do all such acts and things as a body corporate may do by law and as are necessary for, or incidental to, the carrying out of its objects and powers as set forth in this Act.
• With effect from the 18th December, 1983, the Commission shall be known as the Zimbabwe Iron and Steel Commission.

                       4     Constitution of Commission and terms of office of members

• The Commission shall consist of a chairman and two members, all of whom shall be chosen by the Minister.
• The chairman and members of the Commission shall hold office at the Minister’s pleasure. The chairman may be paid out of the funds of the Commission such salary, remuneration and allowances as the Minister may from time to time determine. The other members of the Commission shall be persons who are members of the Public Service.

                       5     Object and powers of Commission

• The Commission is hereby authorized to enter into and sign the Disposals Agreement, and the object of the Commission shall be to carry out its undertakings under the Disposals Agreement and generally to do all such things as may be necessary under such Agreement.
• Subject to the general or specific directions of the Minister, the Commission shall have power to do all such acts and things as may be necessary under or pursuant to the terms of such Agreement.
• Subject to the general or specific directions of the Minister, the Commission may—
• dispose of or otherwise deal with the assets of the Commission;
• apply its revenues to—
  • the redemption of loans and the payment of interest;
  • the general development of the Redcliff Township and of any other property owned by or otherwise held by the Commission, including the re-survey of any land so owned and the alteration of the conditions of title thereto;
  • any other purpose approved by the Minister.
• The Commission may undertake, on such terms and conditions as the Minister may determine, to guarantee the repayment of an advance made by a building society registered under the Building Societies Act [Chapter 24:02] to the Rhodesian Iron and Steel Company Limited (formerly known as the Rhodesian Iron and Steel Company (Private) Limited) or any employee thereof on the security of a mortgage or cession. Any sum required for the fulfilment of any guarantee given by the Commission in terms of this subsection shall be paid out of the moneys of the Commission.
• Subject to the approval of the Minister, the Commission may sell and transfer residential sites and residences in the Redcliff Township to employees of the said Company and to other persons.

                       6    Agreements scheduled

The following Agreements are set out in Schedule A— (a) an Agreement between— (i)     the Government; and

• The Lancashire Steel Corporation Limited; and
• Stewarts and Lloyds Limited; and
• The Messina (Transvaal) Development Company Limited; and
• Anglo American Corporation of South Africa Limited; and
• The British South Africa Company; and
• Rhodesian Selection Trust Limited; and
• The Rhodesian Iron and Steel Company (Private) Limited; and
• Tanganyika Concessions Limited; (b) a draft Agreement between—
• the Commission; and
• The Rhodesian Iron and Steel Company (Private) Limited; and (iii) the Government;

(c) a draft Agreement (excluding the Plan Number BKB-3 dated the 9th February, 1957, which is referred to in paragraph (c) of Clause 1 thereof and annexed thereto) between—

(i)    The Messina (Transvaal) Development Company Limited; and (ii)   The Rhodesian Iron and Steel Company (Private) Limited.

                       7    Confirmation of Main Agreement

The Main Agreement is hereby ratified and confirmed and the several undertakings and guarantees given by the Government under that Agreement are hereby ratified and confirmed.

                       8     Government and Commission authorized to enter into Disposals Agreement

The Government and the Commission are hereby authorized to enter into the Disposals Agreement with The Rhodesian Iron and Steel Company (Private) Limited, and the Minister and the Commission may do all such things as may appear to the Minister to be necessary for giving full and complete effect to such Agreement.

                       9    Confirmation of Agreement set out in Schedule B

The Agreement set out in Schedule B and the several undertakings and guarantees given by the Government under that Agreement are hereby ratified and confirmed.

10 Confirmation of certain sales

The sale by the Commission of certain residential sites and residences in the Redcliff Township to persons other than employees of the Rhodesian Iron and Steel Company Limited (formerly known as the Rhodesian Iron and Steel Company (Private) Limited) before the 18th September, 1959, is hereby confirmed.

11 Confirmation of Agreement set out in Schedule C

The Agreement set out in Schedule C and the several undertakings and guarantees given by the Government under that Agreement are hereby ratified and confirmed.

12 Confirmation of Agreement set out in Schedule D

The Agreement set out in Schedule D and the several undertakings and guarantees given by the Government under that Agreement are hereby ratified and confirmed.

13 Amendment of agreements

Notwithstanding anything to the contrary contained in this Act or in the Agreements, the Minister may—

• agree on behalf of the State to add to or amend the Agreements; and
• do all such things as may appear to him to be necessary for giving full and complete effect to the Agreements as so added to or amended;

and the Agreements as so added to or amended shall have full force and effect and be fully binding on the State without ratification or confirmation by Act of Parliament.