Chapter 22:20 Sovereign Wealth Fund of Zimbabwe Act 10/2013 (2) Any minutes which purport to be signed, with the authority of the Board or the committee concerned, as the case may be, by the chairperson of the meeting to which the minutes relate or by the chairperson of the next following meeting, shall be accepted for all purposes as prima facie evidence of the proceedings of and decisions taken at the meeting concerned. PART III STAFF OF CORPORATION Termination of appointment of Chief Executive Officer 13. The appointment of the Chief Executive Officer shall terminate if he or she would be required in terms of paragraph 3(1)(b) or (c) to vacate his or her office had that paragraph, and paragraph 2(1) and (2), applied to him or her. Other staff of Board 14.(1) Subject to any other law, the Board may fix the terms and conditions of service of persons employed in terms of section 8(1)(b) and, in that regard may⎯ (a) pay them such remuneration and allowances, grant them such leave of absence and make them such gifts and bonuses and the like as it thinks fit; (b) provide pecuniary benefits on their retirement, resignation, discharge or other termination of service or in the event of their sickness or injury and for their dependants, and for that purpose may effect policies of insurance, establish pension or provident funds or make such other provision as may be necessary to secure for them and their dependants any or all the pecuniary benefits to which this subparagraph relates; (c) purchase, take in exchange, hire or otherwise acquire land or dwellings for their use or occupation; (d) construct buildings and other improvements for their use or occupation on land which it has purchased, taken in exchange, hired or otherwise acquired; (e) sell or let land or dwellings to them for residential purposes; (f) make or guarantee loans to them or their spouses for⎯ (i) the purchase of dwellings or land for residential purposes; or (ii) the construction or improvement of dwellings; (g) make or guarantee loans to themfor the purpose of purchasing vehicles, tools or other equipment to be used by them in carrying out their duties. (2) Any remuneration, allowances, pensions and other benefits to which persons referred to in subparagraph (1) are entitled shall be charged to the Fund. (3) Subject to any other law, the Board may promote, suspend or discharge any member of the staff of the Board. Engaging of investment managers and consultants 15. (1) The Board may engage investment managers and other persons otherwise than as employees, on such terms and conditions as the Board thinks appropriate, to perform services of a specialised, technical or professional nature for the Board. (2) Any remuneration to which persons engaged in terms of subparagraph (1) are entitled shall be chargeable to the Fund. 22

Select target paragraph3

Add to table of contents