Cap.14:34 45 SPECIAL EcoNOMIC ZoNEs No. 7/2016 Insurance business ( 1) In this section"Commissioner of Insurance" means the Commissioner of Insurance and Pension and Provident Funds as defined in section 2 of the Insurance Act [Chapter 24:07]. (2) All insurance business carried on in a special economic zone shall be subject to the Insurance Act [Chapter 24:07]. (3) TI1e Authority shall not grant approval to any person to carry on insurance business in a special economic zone unless that person- (a) is registered in Zimbabwe in accordance with the Insurance Act [Chapter 24:07]; or (b) if not so registered, has obtained the approval of the Commissioner of Insurance in respect of the proposed business; and has obtained any approval required under the Exchange Control Act [Chapter 22:05]. (4) Any insurance company, broker, agent, or sub-agent may, with the approval of the Authority and the Commissioner of Insurance, establish a branch within a special economic zone for the conduct of insurance business therein: Provided that any such approval shall be subject to such conditions as the Authority and the Commissioner of Insurance may consider necessary. (5) Any person granted approval in terms of this section shall- (a) keep such records in such form and containing such particulars; and (b) make such reports at such times; as may be required by the Commissioner of Insurance, and shall permit the Commissioner of Insurance or any person authorised by him or her at all reasonable times to inspect and examine such records and any documentation relevant thereto. (6) Where a person conducting insurance business establishes a branch in a special economic zone in terms of subsection (4), the Authority shall permit the Commissioner of Insurance or any person authorised by him or her to enter that special economic zone for the purpose of carrying out the inspection or examination of records referred to in subsection (5). PART VII Fl:JNDS OF AUTHORITY MTI FINANCIAL PROVISIONS 46 General funds of Authority The general funds of the Authority shall consist of- 47 (a) rents, fees, charges and other income accruing to the Authority from licences and permits issued, services rendered and activities carried on by the Authority within any special economic zone; and (b) such moneys as may be payable to the Authority from moneys appropriated for the purpose by Parliament; and (c) such other moneys as may vest in or accrue to the Authority, whether in the course of its operations or otherwise. Investment of moneys not immediately required by Authority Money of the Authority not immediately required by the Authority may be invested in such manner as the Minister may approve. 203