No. I
2018
and
(c)
having repatriated the property in full by the_) 1st \larch,
2018, in the case of property consisting of currenc;, gold,
precious stones or securities. or other moveable property
capable of being speedily repatriated or converted into
currency at the current fair market ntluation for such
property;
Pro,·ided that the E\change Control Inspectorate
Department may, for good cause shown by the applicant.
extend the period for repatriation by a period not
exceeding one hundred and eighty days: and
(d)
ha,·ing, in the case of immoveable property or moveable
property not capable of being speedily repatriated or
converted into currency, sold or undertaken to sell the
property and repatriate the proceeds thereof at the ctment
fair market valuation for such property by such date as
may be agreed between the applicant and the Exchange
Control Inspectorate Department:
Provided that the Exchange Control Inspectorate
Department may, for gcx)d cause shown by the applicant.
do either or both of the following(i)
e\tend tlw period for rcpalriati'on by a
period not e:xcceding one hundred and
eighty days;
(ii)
permit the applicant to lease or alienate the
property in any other way with a ,·icw to
ensuring that the proceeds therefrom arc
repatriated.
(5) lIn less the E\change Control Inspectorate Department
requires further infonnation from the applicant in connection with his
or her application, the Exchange Control Inspectorate Department shall
determine evei). application for an amnesty within ten days from the
date of receiving the application.
Pmofand modalizies of repatriation
6. (I) The receiving local banking institution or financial
institution shall immediately notify the E\change Control Inspectorate
Department of the repatriation of any illegally expatriated property.
fumishing it with documentary proof of the same.
(2) The receiving local banking institution or financial
institution shall transfer the nostro value of the received funds to the
Reserve Bank, \Vhich shall transfer an equivalent amount through
IUGS. to the banking institution or financial institution for the account
of the applicant.
(3) The Exchange Control Inspectorate Department shall issue
a receipt to the applicant confirming repatriation of the property m
Zimbabwe.
Eligibilitvfor amnestv
7. Any application for anmesty shall he inYalicl(a)
in respect of any illegally e\patriated property not
disclosed in the application for amnesty;
35
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