Chapter 22:20 Sovereign Wealth Fund of Zimbabwe Act 10/2013 “joint venture agreement’’ means an agreement between a public contracting authority (that is to say, the State, a statutory body or other contractor performing public functions) and a private party, in terms of which ─ (a) the private party undertakes to perform a public contracting authority’s function on behalf of the public contracting authority for a specified period; and (b) the private party receives a benefit for performing the function by way of ─ (i) compensation from funds appropriated by Parliament; or (ii) user levies; or (iii) a combination of the foregoing; and (c) the private party is liable for the risks arising from the performance of its function; and (d) public resources may be transferred or made available to the private property; “member” means the Chairperson or any other member of the Board referred to in section 6; “Minister” means the Minister of Finance or any other Minister to whom the President may from time to time assign the administration of this Act; “risk-adjusted return” means a return based on an objective measurement of how much risk is involved in producing that return; PART II SOVEREIGN WEALTH FUND OF ZIMBABWE 3 Establishment, vesting and trusteeship of Sovereign Wealth Fund of Zimbabwe (1) There is hereby established a Fund, to be known as the Sovereign Wealth Fund of Zimbabwe. (2) The ownership of the Fund is vested in the Republic of Zimbabwe with the President of Zimbabwe acting as the trustee thereof. 4 Objects of Fund The objects of the Fund are— (a) to make secure investments for the benefit and enjoyment of future generations of Zimbabweans; and (b) to support the development objectives of the Government, including its long-term economic and social development; and (c) to support fiscal or macroeconomic stabilisation, in particular to supplement (in accordance with this Act and the Finance Act) the revenues of Zimbabwe when these are prejudiced by the fluctuation of prices payable for those minerals on which royalties and other taxes are collected for the benefit of the Consolidated Revenue Fund; and (d) to contribute to the revenues of Zimbabwe from the net returns on its investments in accordance with section 21. PART III 4