5
3
Interpretation
In this Act⎯
“administrator” means an administrator appointed under section 6(1), and includes any
assistant administrator appointed under that provision;
“administration”, in relation to a troubled financial institution, means the administration
of the troubled financial institution in accordance with the notice of declaration or a
scheme of resolution;
“associate”, “board”, “curator”, “director”, “chief executive officer”, “inspector”,
“registered” and “supervisor” have the meanings assigned to those terms by the
Banking Act;
“the Banking Act” means the Banking Act [Chapter 24:20];
“the Companies Act” means the Companies Act [Chapter 24:03];
“commencement of the administration” means the date when a declaration in relation to
a financial institution takes effect in terms of section 6(7);
“court”, “Master”, “Registrar”, “secretary” and “share” have the meanings assigned to
those terms by the Companies Act;
“declaration” means a declaration issued in terms of section 6;
“document” includes any document stored in electronic form in any computer;
“financial institution” means—
(a)
any banking institution registered or required to be registered in terms of the
Banking Act [Chapter 24:20]; or
(b)
any building society registered or required to be registered in terms of the
Building Societies Act [Chapter 24:02]; or
(c)
the People’s Own Savings Bank established in terms of the People’s Own
Savings Bank of Zimbabwe Act [Chapter 24:22]; or
(d)
an asset manager as defined in the Asset Management Act [Chapter 24:26]; or
(e)
a collective investment scheme as defined in section 3 of the Collective
Investment Schemes Act, 1997; or
(f)
any person who carries on a business of acceptance of deposits and other
repayable funds from the public;
“member”, in relation to a financial institution, means⎯
(a)
a shareholder, debenture-holder or other person having a right to vote at
meetings of the financial institution; or
(b)
any contributory as defined in section 202 of the Companies Act;
“Minister” means the Minister of Finance and Economic Development or any other
Minister to whom the President may, from time to time, assign the administration of
this Act;
“officer”, in relation to a troubled financial institution, includes an auditor of the
institution;