Indigenisation and Economic Empowerment Act updated May 2011 Zimbabweans, any subcontracting required to be done by the supplier shall be done to the prescribed extent in favour of businesses in which a controlling interest is held by indigenous Zimbabweans. (2) For the purposes of subsection (1)(d), the relinquishment of a controlling interest in a business— (a) does not include the donation or disposal otherwise than for value of a business to— (i) a member of the family of the person relinquishing it; or (ii) any other partner or shareholder of the business, in the case of a business that is a private company or partnership; (b) includes the disposal by the liquidator of a company or other body corporate or the trustee of an insolvent estate of an insolvent estate of a business or of a subsidiary, unit or division of a business that is capable of being operated as a separate business. (3) The objectives or measures specified in subsection (1) may be implemented by the Government specifically on behalf of any one or more of the following groups of indigenous Zimbabweans— (a) women; and (b) young persons under a prescribed age; and (c) disabled persons as defined in the Disabled Persons Act [Chapter 17:01]. (4) The Minister may, by notice in a statutory instrument, prescribe anything that may be prescribed under subsection (1) or (3): Provided that the Minister shall not prescribe anything for the purposes of— (a) subsection (1)(b), except after consultation with the Minister for the time being responsible for the Competition Act [Chapter 14:28]; (b) subsection (1)(e), except after consultation with the Minister for the time being responsible for the Zimbabwe Investment Authority Act [Chapter 14:30]; (c) subsection (1)(f) and (g), except after consultation with the Minister for the time being responsible for the Procurement Act [Chapter 22:14]. (5) The Minister may prescribe that a lesser share than fifty-one per centum or a lesser interest than a controlling interest may be acquired by indigenous Zimbabweans in any business referred to in subsections (1)(b)(iii), (1)(c)(i), (1)(d) and (e) in order to achieve compliance with those provisions, but in so doing he or she shall prescribe the general maximum timeframe within which the fifty-one per centum share or the controlling interest shall be attained. (6) In order to ensure that the Government’s policies and objectives of indigenisation and economic empowerment are implemented, the Minister shall carry out an indigenisation and empowerment assessment rating of every business1, which rating shall be done in the prescribed manner. 1 The word “business” substituted for the previous “company” by section 9 of Act 5/2011 with effect from 17th May 2011. -6-