Bank of Zambia (Amendment) Act, 2013

Single copies of the Act may be obtained from the Government Printer for K1.OD each.

Jurisdiction: Zambia
Instrument: Act or statute
Citation: Act 1 of 2013
Version: 22 Mar 2013
Language: en
Official source: View official record ↗

financial charges financial stability government printer interest rates offences penalties publication access statutory amendment

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Single copies of the Act may be obtained from the Government Printer for K1.OD each. The Bank may regulate interest rates and other charges on banking transactions to support price and financial system stability. This provision says the principal Act is being amended by inserting a new section after section 56. If a person commits an offence under the Act and no specific penalty is provided, conviction can lead to a fine of up to three million penalty units, imprisonment for up to five years, or both.

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Provisions of Bank of Zambia (Amendment) Act, 2013

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3
The principal Act is amended by the insertion, immediately
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Single copies of the Act may be obtained from the Government Printer for K1.OD each.

3. The principal Act is amended by the insertion, immediately after section forty-four, of the following new section: Insertion of new section 44A Single copies of this Act may be obtained from the Government Printer, P.O. Box 30136, 10101 Lusaka, PriceK I.OD each. 2 No,· 1 of 2013) Bank of Zambia (Amendment) Interest rates and other charges by financial service providers Insertion of new section 56A General penalty
44A
The Bank may, in support of price and financial system
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The Bank may regulate interest rates and other charges on banking transactions to support price and financial system stability.

44A.The Bank may, in support of price and financial system stability, _regulate the rate of interest and other charges that financial service providers may impose on a banking transaction.
4
The principal Act is amended by the insertion, immediately
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This provision says the principal Act is being amended by inserting a new section after section 56.

4. The principal Act is amended by the insertion, immediately after section.fifty-six, of the following new section:
56A
A person who commits an offence under this Act for
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If a person commits an offence under the Act and no specific penalty is provided, conviction can lead to a fine of up to three million penalty units, imprisonment for up to five years, or both.

56A. A person who commits an offence under this Act for which no penalty is specifically provided is liable, upon conviction, to a fine not exceeding.three million penalty units or to imprisonment for a term not exceeding five years, or to both.

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Bank of Zambia (Amendment) Act, 2013

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Provisions of Bank of Zambia (Amendment) Act, 2013

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