2015
No.l2
BANKI~G AMEI\Tilv!ENT
Note By Veritas
Gazetted and in Force
13th Masy 2016
ZIMBABWE
ACT
To amend the Banking Act [Chapter 24:20], the Reserve Bank of Zimbabwe
Act [Chapter 22:15], the Deposit Protection Corporation Act [Chapter
24:29] and the Schedule to the Reserve Bank of Zimbabwe Amendment
Act, 2010 (No. 1 of 201 0); to repeal the Troubled Financial Institutions
(Resolution) Act [Chapter 24:28]; and to provide for matters connected
with or incidental to the foregoing.
ENACTED by the Parliament and the President of Zimbabwe.
1
Short title
This Act may be cited as the Banking Amendment Act, 2015.
2
Amendment of section 2 of Cap. 24:20
Section 2 ("Interpretation") of the Banking Act [Chapter 24:201 (hereinafter called
"the principal Act") is amended(a)
in subsection (1)(i) by the repeal of the definition of "associate" and the substitution
of""associate", in relation to a body corporate, including a banking
institution, means(a)
its subsidiary, as defined in section 143 of the
Companies Act [Chapter 24:03]; or
(b)
any company of which the body corporate is the single
largest shareholder; or
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