2015 Bru"<'KING AMENDMENT No.12 56A Expenses of curatorship (1) The Reserve Bank may recover from a banking institution that has been placed under curatorship all the expenses it has necessarily incurred in connection with the curator's administration of the institution. (2) In any proceedings in a court for the recovery of any expenses refe1red to in subsection (1), a ce1tificate purporting to be signed by the Govemor or a Deputy Govemor of the Reserve Bank and setting out the amount of the expenses concemed shall be primafacie proof of their amount.". 33 New section substituted for section 57 of Cap. 24:20 Section 57 of the principal Act is repealed and the following is substituted- "57 Winding up of banking institutions (1) The Reserve Bank may in accordance with this section order the winding up of a banking institution(a) pursuant to a plan of resolution in tenns of section 52A; or (b) following cancellation of the institution's registration in terms of this Act; or (c) where the institution has been placed under curatorship, on the recommendation of the curator; or (d) on any ground on which a company may be compulsorily wound up in terms of the Companies Act [Chapter 24:03]; where the Reserve Bank considers such an order to be in the interests of the creditors, depositors or shareholders of the banking institution concemed, or necessary to preserve the integrity of the financial system of Zimbabwe. (2) Notwithstanding anything to the contrary in the Insolvency Act [Chapter 6:04] or the Companies Act [Chapter 24:03](a) no person shall apply to a court for the winding up of a banking institution; or (b) no banking institution shall pass a resolution for its voluntary winding up or dissolution; without the consent of the Reserve Bank and in accordance with any conditions the Reserve Bank may specify: Provided that the Reserve Bank shall not consent to the voluntary winding up of a banking institution unless it is satisfied that the institution is solvent and has sufficient liquid assets to pay its creditors, including its depositors, in full without delay. (3) Upon making an order under subsection (1), the Reserve Bank shall(a) (b) (c) by written notice, inform the banking institution concerned of the tem1s of the order and the reasons for making it; and cause a notice embodying the order to be published in the Gazette and in one or more newspapers circulating in the area in which the banking institution concemed carries on business; and in the notice referred to in paragraph (b), invite any director, shareholder, depositor or other creditor of the institution who objects to its winding up to apply to the High Court, 247