Zambia Development Agency (Amendment) Act, 2021

Zambia Development Agency (Amendment) [No. 48 of 2021 693 GOVERNMENT OF ZAMBIA ACT No. 48 of 2021 Date of Assent: 29th December, 2021 An Act to amend the Zambia Development Agency Act, 2006. ENACTED by the Parliament of Zambia. [30th December, 2021 1. (1) This Act may be cited as the Zambia Development Agency (Amendment) Act, 2021, and shall be read as one with the Zambia Development Agency Act, 2006, in this Act referred to as the principal Act. (2) This Act shall come into operation on 1st January, 2022. 2. The principal Act is amended by the repeal of section 56 and the substitution therefor of the following: 56. (1) A foreign investor who invests not less than five hundred thousand United States Dollars or the equivalent in convertible currency, in a priority sector, is entitled to incentives as specified by or under the Customs and Excise Act or Income Tax Act. (2) A local investor who invests not less than fifty thousand United States Dollars or the equivalent in convertible currency, in a priority sector, is entitled to incentives as specified by or under the Customs and Excise Act or Income Tax Act. Enactment Short title and commencement Act No. 11 of 2006 Repeal and replacement of section 56 Qualification for incentives Cap. 322 Cap. 323 Cap. 322 Cap. 323 694