RTGS dollars

SC 3-20 - Zambezi Gas Zimbabwe (Pvt) Ltd v N.R. Barber (Pvt) Ltd & Another

This is the Supreme Court judgment of 20th January 2020 deciding that a pre-22nd February 2019 judgment debt expressed in US dollars can be discharged on and after that date by payment in RTGS dollars on a one-to-one basis.

Note that the legislation referred to in the judgment is available on this website:

SI 2019-033 - Presidential Powers (Temporary Measures) (Amendment of Reserve Bank of Zimbabwe Act & Issue of Real Time Gross Settlement Electronic Dollars (RTGS Dollars)) Regulations, 2019 -- Implementing Monetary Policy Statement of 20 February 2019

This statutory instrument was gazetted in a Government Gazette Extraordinary late on 22nd February 2019, making that date its date of commencement.

See also the related SI 32/2019, published in the same Government Gazette Extraordinary, inserting a new definition of "currency" in the Exchange Control Regulations, 1996 [SI 109/1996].

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