Cap. 22:'22
Jowr Vsxrunes
No.6/?015
(2) Every joint venture agreement
(a)
shallidentify the responsibilities of the contracting authcirity and
the
counterparty; and
(b) specify the relevant financial terms; and
(c) ensure the management of performance of the counterparty; and
(d) provide for the return of the assets, if any, to the contracting authority,
at the tenrrination or expiry of the agreement, in such mannei as may be
provided for in the agreement; and
(e)
(0
provide for the sharing of risks between the contracting authority and tlre
counterparty; and
provide for the payment to the counterparty for performing the contracted
function or services by *'ay
(1) compensation frorr
of-
funds appropriated by Parliament; or
(ii) funds obtained by way of loan by the contracting authority; or
(iii) user levies; or
(iv)
(v)
revenue generated from the project; or
any combination of the foregoing;
and
.
(g)
(h)
(i)
provide for its duration: and
provide for the respective shareholdings of the contracting authority and
the counterparly, if any; and
contain such otherprovisions as may be necessary orexpedient or as may
be prescribed.
(3) Every joint venture agreement shall be governed
accordance with the laws of Zimbabwe.
by and construed in
(4) Every joint venture agreement shall provide for disputes between the
countelparty and the contracting authority to be settled by arbitration, according to-
(a) the Arbitration Act lChapter 7:/fl (No. 6 of 1996); or
(b) rules def ned ir the agreement.
11
Powers of Unit
(i)
The Unit
(a)
(b)
may-
retain consultants to assist it on an ad lrcc,pafi-time or full-time basis;
request the chairpemon, accounting officer or Chief Executive Officer
a contracting
(i)
(ii)
(c)
to furnish any infonnation or produce any records or other documents
relating to a project;
to answer all questions relating to a project;
examine such records or other documents as are availed to it and make
copies thereof or take extracts therefrom.
(2) Any person to whom
or (c)
of
authority-
a
reasonable request is made under subsection
(l)(b)
who-
(a) without just cause, fails to comply with the reqlrest; or
(b) refuses without just cause to answer or wilfully gives any false or
misleadin,a answer to any question lawfully put by the Unit or by any
employee or agent of the Unit;
T4T