ZAMBIA DEVELOPMENT AGENCY ACT

Arrangement of Sections

    Section

PART I
PRELIMINARY PROVISIONS

    1.    Short title and commencement

    2.    Interpretation

PART II
THE ZAMBIA DEVELOPMENT AGENCY

    3.    Continuation of Zambia Development Agency

    4.    Seal of Agency

    5.    Functions of Agency

    6.    Board of Agency

    7.    Functions of Board

    8.    Tenure of office and vacancy

    9.    Proceedings of Board

    10.    Committees of Board

    11.    Allowances

    12.    Disclosure of interest

    13.    Director-General, Secretary and other staff

PART III
FINANCIAL PROVISIONS

    14.    Funds of Agency

    15.    Financial year

    16.    Accounts

    17.    Annual report

PART IV
GENERAL PROVISIONS

    18.    Immunity

    19.    Prohibition of publication or disclosure of information to unauthorised person

    20.    Immunity from execution of judgments against Agency asset

    21.    Offence by principal officers of body corporate or unincorporate body

    22.    Regulations

    23.    Repeal of Act No. 11 of 2006

        SCHEDULE

AN ACT

to continue the existence of the Zambia Development Agency and re-define its functions; re-constitute the Board of the Agency and provide for its functions; repeal and replace the Zambia Development Agency Act, 2006; and provide for matters connected with, or incidental to, the foregoing.

[On Notice]

Act 17 of 2022.

PART I
PRELIMINARY PROVISIONS

1.    Short title and commencement

This Act may be cited as the Zambia Development Agency Act, and shall come into operation on the date appointed by the Minister by statutory instrument.

2.    Interpretation

In this Act, unless the context otherwise requires—

"Agency" means the Zambia Development Agency continued under section 3;

"associate" has the meaning assigned to the word in the Anti-Corruption Act, 2012;

"Board" means the Board of the Agency constituted under section 6;

"business" has the meaning assigned to the word in the Business Regulatory Act, 2014;

"business development services" include advisory services, promoting training and financing, facilitating the preparation of business plans, project proposals, loan applications, financial statements, audited statements of expenditure and income, and other similar services;

"Chairperson" means the person appointed as Chairperson under section 6;

"Director-General" means the person appointed as Director-General under section 13;

"Emoluments Commission" means the Emoluments Commission established under the Constitution;

"investment" has the meaning assigned to the word in the Investment, Trade and Business Development Act, 2022;

"investor" has the meaning assigned to the word in the Investment, Trade and Business Development Act, 2022;

"joint venture" means a business undertaken jointly by two or more parties which otherwise retain their distinct identities;

"privatisation" means the transferring to the private sector of part, or the whole, of the equity or other interest held by the Government, directly or indirectly, in a state owned enterprise;

"relative" has the meaning assigned to the word in the Anti-Corruption Act, 2012;

"repealed Act" means the Zambia Development Agency Act, 2006;

"special economic zone" has the meaning assigned to the words in the Investment, Trade and Business Development Act, 2022;

"State institution" has the meaning assigned to the words in the Constitution;

"State-owned enterprise" has the meaning assigned to the words in the Public Finance Management Act, 2018;

"Vice-Chairperson" means the person appointed as Vice-Chairperson under section 6; and

"Zambia Institute of Chartered Accountants" means the Zambia Institute of Chartered Accountants established under the Accountants Act, 2008.

PART II
THE ZAMBIA DEVELOPMENT AGENCY

3.    Continuation of Zambia Development Agency

The Zambia Development Agency established under the repealed Act is continued as if established under this Act and is a body corporate with perpetual succession and a common seal, capable of suing and being sued in its corporate name and with power, subject to the provisions of this Act, to do all acts and things that a body corporate may, by law, do or perform.

4.    Seal of Agency

    (1) The seal of the Agency shall be a device that may be determined by the Board and shall be kept by the Director-General.

    (2) The affixing of the seal shall be authenticated by the Chairperson or the Vice-Chairperson and the Director-General or any other person authorised in that behalf by a resolution of the Board.

    (3) A contract or instrument which, if entered into or executed by a person not being a body corporate, is not required to be under seal, may be entered into or executed without seal on behalf of the Agency by the Director-General or any other person authorised in that behalf by a resolution of the Board.

    (4) A document purporting to be a document under the seal of the Agency or issued on behalf of the Agency shall be received in evidence and shall be considered to be so executed or issued, without further proof, unless the contrary is proved.

5.    Functions of Agency

    (1) The Agency shall further the economic development of the Republic through the promotion and facilitation of investment, domestic and foreign trade, competitiveness in business development and the privatisation of state owned enterprises.

    (2) Despite the generality of sub-section (1), the functions of the Agency are to—

    (a)    issue licences, permits or certificate of registration under the Investment, Trade and Business Development Act, 2022;

    (b)    advise the Minister on matters related to investment, export promotion, business development and privatisation;