2018
Zr:-.mABWE IRoN
A~'D
No.5
STrEL Co:-.1PA!'<'Y (DEBT AsslTJV!Pnol'i)
(a)
authenticated copies of the relevant loan agreement or contract
(h)
any other documentation in support of the creditor's claim. including(i) shipment schedules showing conunodities supplied and quantity
and price per shipment;
(ii) creditor statements indicatingpayrnt~nts
A.
initial balances. disbursements made.
the dates of the foregoing;
B.
the principal amount of the claim and the interest thereon.
effected. and
(3) Judgment debts relating to prior claims shall not be proved by the submission
of the relenmt court judgment. decision or order alone, but must be supported hy such
of the documentation referred to in subsection (2) as the Debt Management Office may
demand to enable it to validate and reconcile the claim.
(4) The \Iinister shalL at such intervals as he or she deems ti.t. table before
the _:.,;-ational Assembly a repmi of all claims arising from prior dehts-
(a)
that have been validated and reconciled by the Debt I\'1anagement Office
in accordance with this section and assumed by the State in terms of
section -+; and
(b)
that have been settled by the State on the date of the report.
(5) For the avoidance of doubt it is declared that any claim arising from a p1ior
debt that is not validated and reconciled hy the Debt .\1anagement Office in accordance
with this section shall not be assumed by the State in terrns of section .:j. and shall
continue to be a liability of ZISCO.
6
Application of Part Ill of Cap.22:21
Part lii of the Public Debt .tvfanag:ement Act [Chaprer 22:21] shall apply, with
necessary changes. in respect of any obligation assumed in terms of section-+ as if the
obligation were a State loan borrowed in terms of that Act.
7
Exemption from stamp duty
No stamp duty or other duty or tax and no fees or other charges shall he payable
in respect of anything done under this Act.
8
Repeal of this Act
When the .\Iinister is satisfied that all claims arising: out of prior debts ha\'e been
settled in accordance \Vith this Act. the President, acting on the advice of the .\linister.
shall, by notice in the Ga-;eue, repeal this Act.
SCHEDULE (Sections 2, 3 and 4)
SFtvl.tvlARY OF ZISCO'S DEBT AS A.T 31 DECEMBER 2016
Sl...1MMARY
A\J0l 1NT t'S$
External I .,oans
211912-+00.00
External suppliers
6 095 620.00
Domestic Loans
57 696 085.00
Domestic suppliers, l 'tilities and Statutory obligations
219 113 219.00
Total
-+9-+ 817 32-l-.00
169