No. l 2018 (i) in subsection (3) by the insertion of the follo\Ying paragraph of the following paragmph (d)the Office of the President and Cabinet.": "'(c) (ii) by the inseJ1ion after subsection en of the following suhsedion--- "'(-1-) hlr the purposes of this Act the provisions of this Act that apply to constitutional entities arc deemed tn apply to the Oflice of the President and ( "ahinet.". 45 Amendment of Cap. 24:20 The Banking Act !Chapter 24:201 is amcnded-(a) in section 2 ("Interpretation")(-!-) hy the repeal of paragraph (I} (h) in sectim1 19 ("Disqualification for appointment to hoard nf banking institution") by the repeal of subscctiou (3) and the substitution of"(3) :--;o person who has served as a non--e'i.ecutiYe director of a banking institution for a continuous period of ten years shall be eligible for reappointment to the board of that institution unless at least five years have elapsed since he or she last served on that board."; (c) in section 20 ("Principal administrative office and principal oflicers of banking institution'')(2a) by the deletion of "be non-voting members" and the substitution of "be voting members"; (d) in section 32 ("Restrictions on purchase and pledging of shares m banking institutions and controlling companies") by the repeal of subsection (I) and the substitution of"( I) Except \Vith the prior written approval of the Registrar. no banking or controlling company shall-(a) purchase its o\vn shares or the shares of any associate; or (b) 46 make any loan or advance on the security of its own shares or the shares of any associate.". Amendment of Cap. 24:24 The Bank l 'se Promotion Act (Chapter 24:24] is amended(a) hy the repeal of the definition of "cash·· and the substitution of-""cash" means any bank notes and coins of any currency that is currently. or from time to time, designated as legal tender in Zimbabwe, and includes, but is not limited to, the l'nitcd States dollar, the South African Rand, the British pound, the Euro, the Botswana Pula, the Chinese Yuan. the Indian Rupee. the Japanese Yen, the Australian dollar and bond notes and coins issued in terms of the Reserve Bank ofZimbabv.·e Act [Chapter 22.151;"; (b) by the insertion alter section 10 of the follmving section-- "1 OA Designated payees to afford electronic payment facilities ( 1) In this section, "designated payee"' means-- (a) an mm, organ, bmnch or agency of the State; (b) a local authority: (c) a trader registered or required to be registered in terms the Value Added Tax Act fChapzer 23: 121; (d) a trader other than one referred to in paragraph (c) whose average monthly turnover e:-;;cecds two thousand five hundred dollars; 38 or