Dairy Produce Marketing and Levy Act, 1961 | Act 27 of 1961 — Zambia law | Esheria

Dairy Produce Marketing and Levy Act, 1961

This section gives the Act its short title: the Dairy Produce Marketing and Levy Act.

Jurisdiction
Zambia
Instrument
Act or statute
Citation
Act 27 of 1961
Version
31 Dec 1996
Language
en
Official source
View official record ↗
accounting appointment of agents appointment of manager appointments asset depreciation asset disposal audit compliance audit reporting board finance board powers board remuneration board reporting borrowing budget shortfall business operations civil recovery co-operatives collection compliance consumption promotion contracts corporate administration corporate governance criminal proceedings +83 more

Statute overview

About this statute

This section gives the Act its short title: the Dairy Produce Marketing and Levy Act. This section defines key terms used in the Act, including Board, dairy produce, milk products, dealer, inspector, and financial year. The Board must run its affairs so its revenues are enough, on average over a year, to cover its properly chargeable outgoings and required provisions under sections 4 and 5. The Board must charge proper business expenses to its revenue account and make annual provision for asset depreciation and loan-related interest and expenses. It may also, with the Minister responsible for finance’s approval, provide for increases in replacement costs. The Board must each financial year set aside enough money to redeem loans, and any money set aside must be invested as the Board determines with Ministerial approval and advice from the Minister responsible for finance.

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