GN 2012-280 - Indigenisation requirements - Finance & Other Sectors

General Notice 280 of 2012[1].              

INDIGENISATION AND ECONOMIC EMPOWERMENT
ACT
[CHAPTER 14:33]

__________

Net Asset Value, Lesser Share and Maximum Period for Businesses to Indigenise
in the Finance, Tourism, Education and Sport, Arts, Entertainment and Culture,
Engineering and Construction, Energy, Services, Telecommunications,
Transport and Motor Industry Sectors

__________

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 Finance, Tourism, Education and Sport, Arts, Entertainment and Culture, Engineering and Construction, Energy, Services, Telecommunications, Transport and Motor Industry Sectors the­—

  1. appropriate minimum net asset value above which a business is required to comply with the principal regulations; and
  2. lesser share than the minimum indigenisation and empowerment quota that indigenous Zimbabweans may hold; and
  3. maximum period a business may continue to operate before it attains the minimum indigenisation and empowerment quota;

as indicated in the Schedule.

 

G. MAGOSVONGWE,

Acting Secretary for Youth Development,
Indigenisation and Empowerment.




[1]       Note by Veritas: This notice was published in the Government Gazette of 29th June 2012.

 

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