3 ACT To provide for the reconstruction of State-indebted companies and associate companies that are unable to repay credits made to them from public funds, or in respect of whose liabilities the State has issued any guarantee that has become due; to provide for appointment and functions of administrators of companies under reconstruction; to provide for formulation and implementation of schemes of reconstruction in respect of such companies; to amend the Prevention of Corruption Act [Chapter 9:16]; and to provide for matters connected with or incidental to the foregoing. ENACTED by the President and the Parliament of Zimbabwe. [Date of commencement: 25th February, 2005.] PART I PRELIMINARY 1 Title This Act may be cited as the Reconstruction of State-Indebted Insolvent Companies Act [Chapter 24:27]. 2 Application This Act shall apply to all State-indebted companies, including those formed or incorporated before the date of commencement of this Act and regardless of when they became indebted to the State: Provided that if in relation to a State-indebted company there is made or presented to the court⎯ (a) an application in terms of section 191 of the Act for the sanctioning of a compromise or arrangement proposed between the company and its creditors or members, sections 191 to 194 of the Act; or (b) a petition for the winding up of the company in terms of section 207 of the Act, Part V or VI of the Act; or (c) an application for a provisional judicial management order in terms of section 299 of the Act, Part V or VI of the Act;