4
shall apply to such company unless, within thirty days of the date of presentation of the
petition or the making of the application, as the case may be, the Minister issues a
reconstruction order in respect of the company.
3
Interpretation
(1) In this Act⎯
“the Act” means the Companies Act [Chapter 24:03];
“administrator” means an administrator appointed under section 5(1)(b), and includes
any assistant administrator appointed under that provision;
“associate”, in relation to—
(a)
a company referred to in paragraph (a) of the definition of “company” or any
body or association referred to in paragraph (c) of that definition which is
registered or incorporated in terms of the Act, means—
(i) its subsidiary, as defined in section 143 of the Act; or
(ii) any company of which the company is the single largest shareholder;
or
(iii) its holding company, as defined in section 143 of the Act; or
(iv) where the company is itself a subsidiary of a holding company, as
defined in section 143 of the Act, any other such subsidiary of the
same holding company; or
(v) any person who has power, directly or indirectly, to control the
company’s management or policies;
(b)
an entity referred to in paragraphs (b), (c), (d) or (e) of the definition of
“company”, means any person who has power, directly or indirectly, to control
the entity’s management or policies;
“company” means⎯
(a)
a company registered or incorporated in Zimbabwe or a company, wherever
registered or incorporated, that carries on business in Zimbabwe or is liable to
be wound up under the Act;
(b)
a private business corporation;
(c)
any body or association incorporated or registered under any law relating to
banking, building societies, co-operative societies, insurance or pensions or
under a special law;
(d)
a trust;
(e)
a partnership, a syndicate, a club or any other association of persons which is
not a body corporate;
and includes any associate company;
“company under reconstruction” means a company subjected to a reconstruction order
that has not yet been reconstructed in accordance with a scheme of reconstruction;