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.
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