INFRASTRUCTURE DEVELOPMENT BANK OF ZIMBABWE ACT DISTRIBUTED BY VERITAS VERITAS MAKES EVERY EFFORT TO ENSURE THE PROVISION OF RELIABLE INFORMATION, BUT CANNOT TAKE LEGAL RESPONSIBILITY FOR INFORMATION SUPPLIED. CHAPTER 24:14 INFRASTRUCTURE DEVELOPMENT BANK OF ZIMBABWE ACT Acts 7/1983, 38/1983, 29/1990, 12/1994, 11/20051. ARRANGEMENT OF SECTIONS PART I PRELIMINARY 1. 2. Short title. Interpretation. PART II ESTABLISHMENT AND ADMINISTRATION OF THE BANK 3. 4. 4A. 5. 6. 7. 7A. 8. 9. 9A. Establishment. Board of directors. Responsibilities of Board. Declaration of interest. Meetings of the Board. Committees of Board. Validity of decisions and acts of Board and committees. Chief executive officer. Staff of Bank. Policy directions of Minister. PART III CAPITAL 10. 11. 12. 13. 14. 15. Authorized share capital. Issue of shares. Allotment of shares. Calls on shares. Prohibition of certain transactions re shares. Limitation of liability of shareholders. PART IV THE PURPOSES, POWERS AND FUNDS OF THE BANK 16. 17. 18. 19. 20. 21. 22. 23. Objective of Bank. Powers of Bank. Funds of Bank. Application of funds. Financing of projects bank. Procedure and requirements of financing by Bank. Investment of funds. Reserve funds and distribution of income. PART V ACCOUNTS AND AUDIT 24. 25. 25A. 25B. 26. 27. Financial year. Accounts of Bank. Audit committee. Audit of accounts. Annual report. Appropriation of profits. PART VI GENERAL 28. Shareholders regulations. 24 March, 2006 1 [Chapter 24:14]