Bank of Zambia Act, 2022
ZambiaAct of Parliament2022
The Bank of Zambia Act, 2022 is an Act of the Parliament of Zambia enacted in 2022. It contains 85 sections. Read its sections below, or ask Levy any question about the Bank of Zambia Act, 2022 and get an answer grounded in the Act with citations.
Sections of the Bank of Zambia Act, 2022
- S. 1Short title and commencement
- S. 2Interpretation
- S. 3Bank of Zambia
- S. 4Capital and ownership of Bank
- S. 5Additional functions of Bank
- S. 6Prohibited activities
- S. 7Board of Directors
- S. 8Functions of Board
- S. 9Delegation of functions of Board
- S. 10Governor
- S. 11Deputy-Governor
- S. 12Prohibition of Governor and Deputy-Governor to engage in other
- S. 13Resignation or removal from office of Governor or Deputy-Governor
- S. 14Staff of Bank
- S. 15Emoluments and other terms and conditions of service of Governor,
- S. 16Currency of Republic
- S. 17Authority to issue banknotes and coins
- S. 18Legal tender
- S. 19Currency features
- S. 20Currency production, safekeeping and inventory
- S. 21Currency exchange
- S. 22Management of unfit currency
- S. 23Exchange of forged, lost or stolen or damaged banknotes or coins
- S. 24Accounting treatment of currency issued
- S. 25Currency recall
- S. 26Counterfeit notes and coins
- S. 27Monetary Policy Committee
- S. 28Composition of Monetary Policy Committee
- S. 29Publication of statement of decisions
- S. 30Publication of minutes
- S. 31Financial Stability Committee
- S. 32Composition of Financial Stability Committee
- S. 33Cooperation with other supervisory authorities
- S. 34Publication of Financial Stability Report
- S. 35Advisor to Government
- S. 36Banker to Government
- S. 37Fiscal Agent
- S. 38Advances to Government
- S. 39Limitations on lending to Government
- S. 40Acquisition of securities issued or guaranteed by Government
- S. 41Management of public debt
- S. 42Consultation and exchange of information
- S. 43Banker to banks and financial institutions
- S. 44Bank’s service to financial service providers
- S. 45Publication of Bank’s rates
- S. 46Cash reserve requirements for Provincial Service Provider
- S. 47Minimum liquidity asset ratios and reserve requirements
- S. 48Disclosures by financial service providers
- S. 49Consultation with financial service providers
- S. 50Money Market and foreign exchange market
- S. 51Regulation and supervision of financial service providers
- S. 52Exchange rate policy
- S. 53Maintenance of official international reserves
- S. 54Bank depository of external assets
- S. 55Authorised transactions and limitation of contracting parties
- S. 56Mandate over payment system
- S. 57Regulation and supervision of payment system
- S. 58Furnishing of information
- S. 59Oath or affirmation of secrecy
- S. 60Confidentiality
- S. 61Examination of financial or payment system service providers
- S. 62Exemption from taxes
- S. 63Restriction on execution against property and assets of the Bank
- S. 64Restriction of liability
- S. 65Fees and recovery of expenses
- S. 66Offences relating to directorship and acceptance of gifts
- S. 67Offences relating to currency
- S. 68Offences relating to non-disclosure of information or furnishing of false
- S. 69General penalty
- S. 70Administrative penalties
- S. 71Offences by principle officers of body corporate or unincorporate
- S. 72Liquidation, dissolution or winding up of Bank
- S. 73Regulatory statement
- S. 74Regulations
- S. 75Repeal of Act No. 43 of 1996 and savings and transitional provisions
- S. IPRELIMINARY PROVISIONS
- S. IIADMINISTRATION OF THE BANK OF ZAMBIA
- S. IIIMONETARY UNIT, BANKNOTES AND COIN ISSUE
- S. IVMONETARY POLICY
- S. IXREGULATION AND SUPERVISION OF PAYMENT SYSTEMS
- S. VFINANCIAL STABILITY
- S. VIBANK’S RELATIONSHIP WITH GOVERNMENT
- S. VIIBANK’S RELATIONSHIP WITH FINANCIAL SERVICE PROVIDERS
- S. VIIIINTERNATIONAL RESERVES AND FOREIGN EXCHANGE OPERATIONS
- S. XGENERAL PROVISIONS