Indigenisation and Economic Empowerment Act updated as at 8th May 2015 1.15.4.1 less than 1000 cents per share, then 5 cents shall be added to the price; 1.15.4.2 not less than 1000 cents but less 5000 cents per share, then 50 cents shall be subtracted from the price; 1.15.4.3 not less than 5000 cents per share, then 200 cents shall be subtracted from the price; 1.15.5 where on the same day the sales price, the seller price or the buyer price changes, the price last quoted on that day shall apply; 1.16 “Minister” means the Minister responsible for the administration of this Act; 1.17 “Public Service” means persons employed in the Public Service as a member of any body corporate established directly by or under an Act of Parliament. 1.18 “Qualified accountant” means an accountant who is a member of the Zimbabwe Society of Accountants: 1.19 “Registrar” means the Registrar of Collective Investment Schemes; 1.20 “The Unit Trust Account” means the Unit Trust Account of the National Indigenisation and Economic Empowerment Fund referred to in section 13 of the Act; 1.21 “Unit” means one undivided share in the Unit Trust Account; 1.22 “Unit holder” means the registered holder for the time being of a certificate, whether issued to him or not, including persons jointly registered; 1.23 “Value” except where otherwise expressly stated means: 1.23.1 with reference to shares listed on the Stock Exchange at any given time then middle market price; 1.23.2 in respect of immovable property the market value, which shall be what a willing buyer and a willing seller might pay for the immovable property given a reasonable period in which to negotiate the sale; 1.23.3 with reference to all other property and investments the price as determined by the managers in consultation with experts when necessary and approved by the Board; 1.24 “Year” means calendar year. PART 2 THE UNIT TRUST ACCOUNT Beneficiaries of the Unit Trust Account 2. The Beneficiaries of the Unit Trust Account shall be the indigenous people of Zimbabwe. 2.1 Objects of the Unit Trust Account The Unit Trust Account shall have the following objectives: 2.1.1 to provide a medium to enable investors in Zimbabwe to obtain undivided participation in a diversified portfolio of financially sound investments approved by the managers, chief executive officer and Board; 2.1.2 to increase, enhance and facilitate the involvement and participation in the national economy of indigenous Zimbabweans. - 23 -