SC 44-13 - RESERVE BANK OF ZIMBABWE v ZIMBABWE REVENUE AUTHORITY

RESERVE BANK OF ZIMBABWE

v

ZIMBABWE REVENUE AUTHORITY

 

SUPREME COURT OF ZIMBABWE

MALABA DCJ, ZIYAMBI JA & OMEERJEE AJA

HARARE, SEPTEMBER 17, 2012 & SEPTEMBER 20, 2013

L Mazonde, for the appellant

U Sakhe, for the respondent

 

MALABA DCJ: This is an appeal against the judgment of the High court granting an order for payment to the respondent of USD4 960 305-70 which the appellant received into its own account from Standard Chartered Bank, and Commercial Bank of Zimbabwe, pursuant to a directive issued to the banks to transfer the money from accounts held with them by the respondent.

After hearing argument from counsel for both parties the appeal was dismissed with costs.  It was indicated that reasons for the decision would follow in due course. These are they.

The appellant and the respondent are bodies established in terms of the respective statutes for the achievement of specific purposes. They are legal entities with a right to sue and be sued. The respondent is established in terms of the Revenue Authority Act [Cap. 23:11](“the RA Act”]. The purpose for which the respondent was established is to act as an agent of the State in assessing, collecting and enforcing the payment of all revenues due to the state and the transfer of that revenue to the Consolidated Revenue Fund for appropriation by Government.

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