Chapter 22:20 Sovereign Wealth Fund of Zimbabwe Act 10/2013 (3) The Board shall comply with any directions which the Minister may give in relation to the management of the general reserve. (4) Moneys in the general reserve shall not be reduced, without the approval of the Minister, below such an amount as the Minister may fix, otherwise than for the purpose of meeting a deficiency as is provided in subsection (5). (5) If in any financial year the income of the Board together with any surplus income brought forward from a previous financial year, is insufficient to enable the Board to meet the charges and to make the provisions required by section 19, the deficiency shall, unless the Minister otherwise directs, be met from the general reserve. 21 Payment of dividends to State Where in a financial year the revenues accruing to the Fund are more than sufficient— (a) to meet the expenditure of the Board in that year; and (b)to meet the expenditure and investments required to be made by the Fund in compliance with its investment mandate; and (c) to enable the Board to make such appropriations to its general reserve in terms of section 20 as are necessary or desirable; the Board may pay out of the surplus such dividends to the State as the Board may determine in relation to that year. 22 Prohibition against using Fund assets as collateral (1) The assets of the Fund shall not be used— (a) to provide credit to the Government, public enterprises, private sector entities or any other persons or entities; or (b) as collateral for debts, guarantees, commitments or other liabilities of any other person or entity, whether public or private (2) Any contract, agreement or arrangement, to the extent that it purports to encumber the assets referred to in subsection (1), whether by way of guarantee, security, mortgage or any other form of encumbrance, is null and void. 23 Withdrawals from Fund for State benefit (1)In pursuance of its object specified in section 4(b), the Board may, on its own initiative or at the request of the Minister, invest any part of its funds for the purpose of infrastructure development as the private partner with the State under ajoint venture agreement. (2) Where the Minister considers that the resources availed by the Consolidated Revenue Fund are insufficient for any purpose of the national budget, including the setting aside of moneys for unforeseen contingencies, he or she may, after consulting the Board, effect withdrawals from the Fund in accordance with this section, and in particular effect withdrawals from the Sub-Fund constituted pursuant to the Fund’s object specified in section 4(c) (that is to say, the object of supporting fiscal or macroeconomic stabilisation). (3) Every withdrawal from the Fund under subsection (1) or (2) must be appropriated by Parliament by means of the annual or any supplementary Appropriation Bill, and accounted for in either of the following ways, depending on the purpose of the withdrawal— 12