9 (4) Anything which, before the date of commencement of this Act, was decided or done by or on behalf of the Bank under the name of the Infrastructure Development Bank of Zimbabwe shall be valid and effective after that date as if this Act had been in operation when it was decided or done. (5) The person who, immediately before the date of commencement of this Act, was performing the functions of chief executive officer of the Bank shall, on and after that date, be the chief executive officer of the Bank as if he had been appointed by the Bank’s shareholders in terms of section 8 of the principal Act as amended by this Act, and his term of office shall be deemed to have commenced when the Minister appointed him as chief executive officer. (6) As soon as practicable after the date of commencement of this Act, the Bank shall— (a) cancel its issued shares and replace them with shares of the nominal value specified in subsection (1) of section 10 of the principal Act as amended by this Act; and (b) issue to each of the Bank’s shareholders new shares in an amount equal to the nominal value of the shareholder’s previous shareholding.