GN 2011-459 - Indigenisation requirements - Manufacturing Sector

General Notice 459 of 2011[1].

INDIGENISATION AND ECONOMIC EMPOWERMENT ACT
[CHAPTER 14:33]

__________

Net Asset Value, Lesser Share and Maximum Period
for Businesses to Indigenise in the Manufacturing Sector

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IT is hereby notified that Minister of Youth Development, Indigenisation and Empowerment has, in terms of section 5(4) as read with section 5A(4) of the Indigenisation and Economic Empowerment (General) Regulations, 2010 (the principal regulations)  prescribed with respect to the manufacturing sector the—

       (a)   appropriate minimum net asset value above which a business is required to comply with the principal regulations; and

       (b)   lesser share than the minimum indigenisation and empowerment quota that indigenous Zimbabweans may hold; and

       (c)   maximum period a business may continue to operate before it attains the minimum indigenisation and empowerment quota;

as indicated in the Schedule.

 

28-10-2011.




[1]       Note by Veritas: This notice was published in a Government Gazette Extraordinary dated 28th October, 2011.  The notice as gazetted omits the “signature” (of the appropriate Minister or Permanent Secretary) that usually appears at the end of such notices.

 

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