Bank of Zambia Act
ZambiaAct of Parliament
This Act has been repealed.It was replaced by Bank of Zambia Act, 2022. Read this one for the law as it stood, not as it is now.
The Bank of Zambia Act is an Act of the Parliament of Zambia. It contains 72 sections. Read its sections below, or ask Levy any question about the Bank of Zambia Act and get an answer grounded in the Act with citations.
Sections of the Bank of Zambia Act
- S. 1S hort title
- S. 2I nterpretation
- S. 3E stablishment of the Bank
- S. 4F unctions of the Bank
- S. 5P owers of the Minister
- S. 6C apital
- S. 7P rofit and Loss
- S. 8G eneral reserve fund and other funds
- S. 9P olicy Statement
- S. 10G overnor
- S. 11D eputy Governors
- S. 12(1) There shall be a Board of Directors of the Bank in which shall vest all the Board of Directors
- S. 13C omposition of Board
- S. 14(1) Subject to the other provisions of this section, a director referred to in Tenure of office
- S. 15(1) No person shall be appointed, re-appointed or continue to hold office of Disqualifications
- S. 16P roceedings of Board
- S. 17S eal of the Bank
- S. 18C ommittees of Board
- S. 19I mmunity of Directors
- S. 20C onflict of interest and disclosure of interest
- S. 21S taff of the Bank
- S. 22O ath or declaration of secrecy
- S. 23P rohibition of publication or disclosure of information to unauthorised persons
- S. 24F inancial year
- S. 25B ooks of account
- S. 26A udit of accounts
- S. 27A nnual report
- S. 28(1) The Bank shall deliver to the Minister a return of its monthly assets and Reports on monthly
- S. 29C urrency of the Republic
- S. 30R ight to issue currency
- S. 31D enominations of notes and coins, etc.
- S. 32M inting and issue
- S. 33L egal tender
- S. 34P owers of recall
- S. 35E xchange of notes and coins
- S. 36L ost and mutilated notes and coins
- S. 37C ounterfeit notes and coins
- S. 38P enalty for mutilation of currency
- S. 39I nternational reserves
- S. 40O perations in gold and foreign exchange
- S. 41M inimum Liquidity ratios and reserve requirements
- S. 42A ccounts for banks and other financial institutions, etc.
- S. 43B ank rates of interest for discounts, rediscounts and advances
- S. 44The Bank may, in conjunction with other financial institutions, organise facilities Clearing facilities
- S. 45The Bank shall- Banker, fiscal agent
- S. 46(1) The Bank shall be the official depository of Government funds: Depository of
- S. 47The Bank shall, on such terms and conditions as the Minister may determine, Management of
- S. 48A gency functions
- S. 49A dvances to Government
- S. 50L imitation on lending to Government
- S. 51D epository and fiscal agency for international financial organisations
- S. 52T ransactions in government securities
- S. 53P rohibited business
- S. 54R ight to call for information
- S. 55I nspection
- S. 56E xemptions from taxes, etc.
- S. 57R egulations
- S. 58P roperty
- S. 59R estriction on execution against property and assets of the Bank
- S. 60F ees and recovery of expenses
- S. 61E xemption from Banking and Financial Services Act
- S. 62S avings
- S. 63R epeal of the Bank of Zambia Act, 1985 and the Currency Act
- S. ISection I
- S. IISection II
- S. IIISection III
- S. IVSection IV
- S. IXSection IX
- S. VSection V
- S. VISection VI
- S. VIISection VII
- S. VIIISection VIII