F{o. 4/2015 PLiBLrc' Dnn'r Maxec;EMF,N'r Cap.Z2:2I the repayment of the capital of, and the payment of expenses or charges incurred on or in connection (a) with- any indebtedness or other financial obligation raised, incurred or established, as the case may be, inside or outside Zimbabwe by a person approved by the Minister for purposes which will, in the opinion of the Minister, promote employment or the development of natural resources or the tourist industry or are otherwise in the public interest or in the interest of the economy of Zimbabwe; or O) any indebtedness or other financial obligation raised, incurred or established, as the case may be, outside Zimbabwe for the purposes of the kustee of the District Development F'und Act lChapter 29:06) or a designated corporate body referred to in paragraph (a) of the definition of "public entity" in section 2 of the Public Finance Management Act, or a local authority. (2) Without derogating from the generality of subsection (1), the Minister may, in fixing the conditions of a guarantee in terms of paragraph (a) and (b) of that subsection, require the debtor to provide for all or any of the following matters- (a) appropriating and duly applying the moneys or other benelits concemed lbr the purpose or purposes approved by the Minister in terms of subsection (l Xa) or (b), as the case may be; (b) charging on the general income and assets of the debtor or any other income or assets which may be available for the purpose, the capital of the indebtedness or other financial obligation concerned and any interest, charges or other expenses incurred or accrued therein or in connection therewith, and the repayment to the Consolidated Revenue Fund of any amount paid in terms of section 21(a); (c) raisittg or securing the raising of sufficient money to meet the liabilities referred to in paragraph (b). (2) The aggregate of the amounts that may be guaranteed in terms of subsection and (b) in any financial year in respect of indebtedness or other obligations raised, incurred or established, as the case may be, shall not exceed the limit fixed by National Assembly, which limit the Minister may propose to the National Assembly for approval by resolution or by means of a provision in a Finance Bill: (lXa) Provided that the limit lixed in terms of this subsection may be exceeded in any financial year if the Minister obtains the authority of a resolution of the National Assembly to do so. (3) Prior to issuance of loan guarantees, ttre Oftice shall conduct or cause to be conducted a due diligence audit on fhe capacity of the beneficiary to repay the loan. a (4) The Minister may prescribe any fees that may be payable by a beneficiary of Govemment loan guarantee, including fees payable on the fulfilment of a guarantee. (5) The beneficiary of a loan guarantee shall reimburse or pay Government, as the case may be, in such manner as the Minister shall direct- (a) (b) (c) (d) all moneys paid by Govemment to fulfil the guarantee; and all expenses incurred by Government in relation to the guarantee; and interest on all moneys paid by Govemment to ful{il the guarantee; and any f'ees prescribed under subsection (4). (6) Any liability of the State in connection with a guarantee shall be secured and charged upon the assets and general revenues ofZimbabwe and all such securities shall rank equally without priority. 110