53
48
Amendment of Cap. 24:24
With effect from the 22nd August, 2006, the Bank Use Promotion and Suppression of Money
Laundering Act [Chapter 24:24] (No. 2 of 2004) is amended⎯
(a) in section 2 (“Interpretation”) by the repeal of the definition of “cash” and the
substitution of⎯
““cash” means Zimbabwean coins and banknotes that are currently designated as legal
tender, and includes any Reserve Bank bearer cheques issued in terms of section
42A of the Reserve Bank of Zimbabwe Act [Chapter 22:15];”;
(b) in section 11 (“Traders and parastatals to bank surplus cash in an account within a
certain time”)(1)(b) by the deletion of “ten thousand dollars” wherever it occurs and the
substitution of “seven hundred and fifty thousand dollars”;
(c) in section 12 (“Traders and parastatals to settle certain trade debts otherwise than in
cash”) (2) by the deletion of “five thousand dollars” wherever it occurs and the
substitution of “seven hundred and fifty thousand dollars”;
(d) in section 15 (“Maximum cash to be kept by moneylenders”) (1) by the deletion of “five
thousand dollars” wherever it occurs and the substitution of “seven hundred and fifty
thousand dollars”;
(e) in section 21 (“Temporary restrictions on cash withdrawals from financial institutions”)
(1)—
(i) in paragraph (a) by the deletion of “ten thousand dollars” wherever it occurs and
the substitution of “one hundred thousand dollars”;
(ii) in paragraph (b) by the deletion of “twenty thousand dollars” wherever it occurs
and the substitution of “seven hundred and fifty thousand dollars”;
(f) in section 22 (“Unlawful hoarding of cash” )(1) by the deletion of “ten thousand dollars”
wherever it occurs and the substitution of “one hundred thousand dollars”.
49
Amendment of Act No. 6 of 2006
The Finance Act (No. 6 of 2006) is amended⎯
(a) in section 3 (“Amendment of section 22B of Cap. 23:04”) by the deletion of “1st
August, 2006” and the substitution of “1st September, 2006”;
(b) in section 4 (“Amendment of section 22E of Cap. 23:04”) by the deletion of “1st
August, 2006” and the substitution of “1st September, 2006”;
(c) in section 5 (“Amendment of section 22H of Cap. 23:04”) by the deletion of 3 the
substitution of “1st September, 2006”.
50
References to old currency system in enactments
Every amount in an enactment expressed in terms of the old currency system shall, on and
after the 22nd August, 2006, be construed in accordance with the new currency system:
3
Words missing. Presumably "1st August, 2006". Veritas.
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