Indigenisation and Economic Empowerment Act updated May 2011 1.12 “Grouping date” means in relation to a unit issued by the Board or to a unit surrendered for value and subsequently resold the last business day of the previous calendar month; 1.13 “Investor” means any person who may buy units in the Unit Trust Account and shall not include a person who is not a citizen of Zimbabwe or a company whether foreign or local; 1.14 “Investment” means any investment of any nature whatever and includes, without derogating from the generality of the foregoing, any share, stock, bond, debenture, debenture stock or other security; 1.15 “Middle market price” shall be ascertained by reference to the Zimbabwe Stock Exchange share prices on the relevant day and shall be: 1.15.1 the sales price where a sales price is stated; 1.15.2 where there is no sales price stated, the average of the buyer and seller prices rounded up to the nearest cent; 1.15.3 where the buyer price only is stated, the buyer price, provided that if the price is⎯ 1.15.3.1 less than 1000 cents per share then 5 cents shall be added to the price; 1.15.3.2 not less than 1000 cents but less 5000 cents per share, then 50 cents shall be added to the price; 1.15.3.3 not less than 5000 cents per share, then 200 cents shall be added to the price; 1.15.4 where the seller price only is stated, the seller price provided that if the price is⎯ 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; - 21 -