Financial Institutions (Validation of Acts) Act

The Laws of Zambia
Copyright Ministry of Legal Affairs, Government of the Republic of Zambia
REPUBLIC OF ZAMBIA
THE FINANCIAL INSTITUTIONS (VALIDATION OF ACTS) ACT
CHAPTER 420 OF THE LAWS OF ZAMBIA
CHAPTER 420 THE FINANCIAL INSTITUTIONS (VALIDATION OF ACTS)
ACT
THE FINANCIAL INSTITUTIONS (VALIDATION OF ACTS) ACT
ARRANGEMENT OF SECTIONS
Section
1. Short title
2. Interpretation
3. Validation of acts
4. No liability in respect of actions
CHAPTER 420
FINANCIAL INSTITUTIONS (VALIDATION OF ACTS) 13 of 1968
An Act to validate certain acts done and omissions made by financial institutions;
and to provide for matters incidental to or connected with the foregoing.
[1st March, 1968]
1. This Act may be cited as the Financial Institutions (Validation of Acts) Act. Short title

tal to or connected with the foregoing.
[1st March, 1968]
1. This Act may be cited as the Financial Institutions (Validation of Acts) Act. Short title

The Laws of Zambia
Copyright Ministry of Legal Affairs, Government of the Republic of Zambia
2. (1) In this Act, unless the context otherwise requires- Interpretation
"declared day" means a day specified, by reference to its date, in the statutory
instrument;
"financial institution" means an institution which, being entitled to do so, closed its
place of business to members of the public on each declared day;
"the operative date" means the date upon which the statutory instrument was
published in the Gazette;
"the statutory instrument" means the statutory instrument made by the Minister
responsible for finance under section twenty of Bank of Zambia Act. Cap. 360
(2) Any reference in this Act to an act done shall be deemed to include a reference
to an omission made. 3. Any act done by a financial institution on or after the operative date which would
have been validly done if at the time of the doing thereof each of the declared days had
been declared to be a public holiday, shall be deemed to have been validly done. Validation of acts
4.

the doing thereof each of the declared days had
been declared to be a public holiday, shall be deemed to have been validly done. Validation of acts
4.

(1) No financial institution shall be subject to any liability, action, claim or demand
whatsoever for or in respect of any act deemed to have been validly done under the
provisions of section three. No liability in respect
of actions
(2) The provisions of this section shall apply-
(a) to any liability incurred or claim or demand made before or after the
commencement of this Act;
(b) to any action whether commenced before or after the commencement of
this Act;
(c) for the purpose of determining any appeal from a judgment entered before
the commencement of this Act.