CHAPTER 426
NATIONAL SAVINGS AND CREDIT BANK OF ZAMBIA (DISSOLUTION) ACT

Arrangement of Sections

   Section

   1.   Short title

   2.   Interpretation

   3.   Winding-up of affairs of Credit Bank and its dissolution

   4.   Vesting of assets and liabilities of Credit Bank in Bank

   5.   Registration of property to be transferred by Credit Bank

   6.   Employees

   7.   Legal proceedings

   8.   Repeal

AN ACT

to provide for the winding-up and dissolution of the National Savings and Credit Bank of Zambia; to provide for the vesting of the undertaking of the National Savings and Credit Bank of Zambia in the Post Bank Limited; to repeal the National Savings and Credit Act; and to provide for matters connected with or incidental to the foregoing.

[6th September, 1991]

Act 7 of 1991.

1.   Short title

This Act may be cited as the National Savings and Credit Bank of Zambia (Dissolution) Act.

2.   Interpretation

In this Act, unless the context otherwise requires—

“appointed date” means such date as the Minister shall appoint in pursuance of section 3;

“Bank” means the Post Bank Limited, a registered commercial bank under the Banking Act;

“Credit Bank” means the National Savings and Credit Bank of Zambia established by section 3 of the National Savings and Credit Act.

3.   Winding-up of affairs of Credit Bank and its dissolution

   (1) From the commencement of this Act the Credit Bank shall exist only for the purpose of winding- up its affairs and for no other purpose:

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