Indigenisation and Economic Empowerment Act updated May 2011 authority of the business in question, to decline to renew the licence, registration or other authority in question to operate the business concerned or where the licence, registration or other authority is for an indefinite term, ordering that the licence, registration or other authority concerned be terminated no later than six months from the date when the Minister issued the order. (6) An order issued by the Minister to a licensing authority in terms of subsection (2) or (5) shall have effect notwithstanding anything to the contrary contained in any law under which the licensing authority operates. 6 Referral to Minister of proposed notifiable transactions in respect of which no counterparties have yet been identified (1) With effect from the date that the Minister, by notice in a statutory instrument, prescribes what is required to be prescribed for the purposes of section 3(1)(b)(iii), (1)(c)(i), (1)(d) or (e), any person wishing to identify an indigenous Zimbabwean or Zimbabweans to acquire a controlling interest in his or her business, whether— (a) directly through the relinquishment of his or her business; or (b) as the result of the proposed merger or restructuring of the shareholding of two or more related or associated businesses, or the unbundling of a business or demerger of two or more businesses; may give notice thereof to the Minister within the prescribed time and in the prescribed manner, requesting the assistance of the Minister to identify the indigenous Zimbabwean or Zimbabweans concerned. (2) Upon receipt of a notice in terms of subsection (1), the Minister shall endeavour within a reasonable time to identify a suitable indigenous Zimbabwean or Zimbabweans to acquire a controlling interest in the business concerned. PART III ESTABLISHMENT AND FUNCTIONS OF THE NATIONAL INDIGENISATION AND ECONOMIC EMPOWERMENT BOARD 7 Establishment and appointment of the National Indigenisation and Economic Empowerment Board (1) There shall be a Board to be known as the National Indigenisation and Economic Empowerment Board, consisting of the chief executive officer ex officio and not less than eleven and not more than fifteen members appointed by the Minister after consultation with the President, of whom— (a) one member shall be the Secretary of the Ministry for which the Minister is responsible; and (b) at least one member shall represent any organisation which the Minister considers to be representative of women or women’s organisations; and (c) at least one member shall represent any organisation which the Minister considers to be representative of youths or youths organisations; and (d) at least one member shall represent any organisation which the Minister considers tro be representative of disabled persons or disabled persons’ organisations; and -9-