SI 2019-032 - Exchange Control (Amendment) Regulations, 2019 (No. 6) -- Implementation of 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.  Section 2 of the regulations is set out in full below:

    2.  The Exchange Control Regulations, 1996, published in Statutory Instrument 109 of 1996, is amended in section 2 (“Interpretation”) by the insertion of the following definition—

““currency”—

(a) means the coin and paper money of Zimbabwe or of a foreign country that is designated as legal tender and which is customarily used and accepted as a medium of exchange in the country of issue;

(b) includes—

(i) foreign currency that is designated as legal tender in the Republic of Zimbabwe by virtue of section 44A of the Reserve Bank of Zimbabwe Act [Chapter 22:15] (No. 5 of 1999);

(ii) for the purposes of these regulations, bond notes and coins as defined in section 44B of the Reserve Bank of Zimbabwe Act [Chapter 22:15] (No. 5 of 1999);

(iii) any electronic currency issued in terms of section 44C of the Reserve Bank of Zimbabwe Act [Chapter 22:15] (No. 5 of 1999) (including in particular the RTGS dollar);

(iv) any bill of exchange, promissory note, traveller’s cheque or letter of credit or any draft or other document issued to obtain currency or credit for an amount of money;”.

Also published in the same Government Gazette Extraordinary was SI 33/2019, making related amendments to the Reserve Bank of Zimbabwe Act by regulation under the Presidential Powers (Temporary Measures) Act.

 


http://www.veritaszim.net/node/3432

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