2015 RESERVE BA:--JK OF Zl:\1HABWE (DEHT ASSUMPTION) (2) The terms and conditions under \Vhich the Minister assumes responsibility in terms of subsection (I) for the discharge of any obligation with respect to the prior debts of the Reserve Bank shall be fixed by the Minister. (3) The prior debts may be liquidated through the issuance of Governmenthacked debt instmments. (4) No action or proceeding shali he commenced or continued against the Reserve Bank or any other banking institution in respect of a prior debt assumed by the Minister on behalf of the State, or any other obligation or claim in connection therewith or arising therefrom. 5 Proof of claims arising from prior debts and notification of validated and reconciled claims ( 1) No claim arising from a ptior debt shall be assumed by the State and settled under section 4 unless it is validated and reconciled in accordance with this section. (2) All claims arising from prior debts shall be validated and reconciled by the Debt Management Oftlce, for which purpose the Office may demand from the creditor concerned the follmving. as may be appropriate--(a) authenticated copies of the relevant loan agreement or contract; (b) any other documentation in support of the creditor's claim. including-(i) shipment schedules showing commodities supplied and quantity and price per shipment; (ii) creditor statements indicatingA. initial balances, disbursements made, payments effected. and the dates of the foregoing: B. the principal amount of the claim and the interest thereon; (iii) a court judgment. For the avoidance of doubt it is declared that any claim arising from a prior debt that is not validated and reconciled by the Debt Management Office in accordance with this section shall not be assumed by the State in terms of section 4 and shall continue to be a liability of the Reserve Bank. (3) 6 Application of Part VI of Cap. 22:19 Part VI of the Public Finance Management Act [Chapter 22:191 shall apply, with the necessary changes, in respect of any obligation assumed in terms of section 4 as if the obligation were a State loan borrowed in terms of that Act. 7 Exemption from stamp duty No stamp duty or other duty or tax and no fees or other charges shall be payable in respect of anything done under this Act. 8 Repeal of this Act When the Minister is satisfied that all claims arising out of prior debts. have been settled in accordance \vith this Act, the President, acting on the advice of the Minister, shall, by notice in the Gazette, repeal this Act. 19 No.2