Professional statute overview
Enactment structure, operative effect and source provenance
01
Purpose and legislative effect
“This Act may be cited as the Loans and Guarantees (Authorisation) Act.”
This Act may be cited as the Loans and Guarantees (Authorisation) Act. This section says the Act does not apply to raising loans under four named Acts. The Minister may raise loans for the Government, but only within limits set by National Assembly authorization. Loans raised under the Act for one year or less must go into the Special Deposit Account; loans over one year must go into the general revenues of the Republic; and loans raised for a specific purpose must be used only for that purpose. Debt charges from loans under this Act are charged to the Republic’s general revenues, with a special rule for loans of one year or less.
02
How the instrument operates
- 01
Start with the recorded version
Undated source snapshot. The date shown identifies this source expression and should not be treated as proof that no later change exists.
- 02
Locate the controlling provision
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- 03
Read conditions and exceptions together
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- 04
Verify currency and official wording
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03
Research entry points
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This Act may be cited as the Loans and Guarantees (Authorisation) Act.
Section 1
The Bank of Zambia must carry out prescribed functions for certain loans and manage related sinking-fund functions as directed by the Minister.
Section 8
The total contingent liability under guarantees must stay within limits set by the Minister by statutory instrument.
Section 15
Loans granted by the Government before this Act started are treated as loans granted under this Act, unless they were granted under another written law.
Section 22
Loans for or on behalf of the Government may not be raised unless authorised by this Act or later written law that specifically permits the loan.
Section 29
04
Source and current-law status
Source record view
Source record from zambialii.org · Undated source snapshot
The source record does not state a definitive current-law status. Check the official publisher and later amendments before relying on this text.