General Loans (Mediobanca) Act

The Laws of Zambia
Copyright Ministry of Legal Affairs, Government of the Republic of Zambia
REPUBLIC OF ZAMBIA
THE GENERAL LOANS (MEDIOBANCA) ACT
CHAPTER 376 OF THE LAWS OF ZAMBIA
CHAPTER 376 THE GENERAL LOANS (MEDIOBANCA) ACT
THE GENERAL LOANS (MEDIOBANCA) ACT
ARRANGEMENT OF SECTIONS
Section
1. Short title
2. Interpretation
3. Power to borrow from Mediobanca-Banca di Credito Finanziario S.P.A.
4. Repayment of sums borrowed and payment of interest and other charges
5. Implementation of agreements
6. Construction of borrowing powers
SCHEDULE -Purpose of borrowing authorised by this Act
CHAPTER 376
GENERAL LOANS (MEDIOBANCA) 19 of 1967
An Act to empower the Government to raise loans from the Mediobanca-Banca di
Credito Finanziario S.P.A.; and to provide for connected matters.
[27th January, 1967]

ower the Government to raise loans from the Mediobanca-Banca di
Credito Finanziario S.P.A.; and to provide for connected matters.
[27th January, 1967]

The Laws of Zambia
Copyright Ministry of Legal Affairs, Government of the Republic of Zambia
1. This Act may be cited as the General Loans (Mediobanca) Act. Short title
2. In this Act, unless the context otherwise requires- Interpretation
"foreign currency" means currency other than the currency of Zambia;
"Mediobanca" means Mediobanca-Banca di Credito Finanziario S.P.A. 3. (1) The Minister may, in such manner and on such terms and subject to such
conditions as he thinks fit, and in the name of Zambia, borrow from Mediobanca such
sums in sterling or in foreign currency or in both, as may be required for the purpose set
out in the Schedule. Power to borrow from
Mediobanca-Banca di
Credito Finanziario
S.P.A. (2) For the purpose of exercising the powers conferred by subsection (1), the
Minister, or any person authorised by him in writing, may sign and execute agreements
with Mediobanca and may execute such other instruments, including bonds, as may be
required in connection with the borrowing of any sum under this Act. 4.

Mediobanca and may execute such other instruments, including bonds, as may be
required in connection with the borrowing of any sum under this Act. 4.

There shall be charged on and paid out of the general revenues of the Republic
such moneys as may be necessary-
(a) for securing the repayment of the principal of any sum borrowed under this
Act in accordance with the terms and conditions of any agreement
providing for such borrowing or of any bond issued pursuant to any such
agreement; and
(b) for securing the payment of interest on any sum so borrowed and of all
other charges payable in respect thereof. Repayment of sums
borrowed and payment
of interest and other
charges
5. Notwithstanding anything contained in any written law, the Minister may exercise
all such powers and authorities and do or cause to be done all such things as appear to
him to be necessary for giving full and complete effect to any agreement which may be
entered into with Mediobanca in respect of any borrowing authorised by this Act. Implementation of
agreements
6. The power to borrow conferred by this Act shall be in addition to the power to
borrow conferred by any other written law. Construction of
borrowing powers
SCHEDULE
(Section 3)
PURPOSE OF BORROWING AUTHORISED BY THIS ACT

power to
borrow conferred by any other written law. Construction of
borrowing powers
SCHEDULE
(Section 3)
PURPOSE OF BORROWING AUTHORISED BY THIS ACT

The Laws of Zambia
Copyright Ministry of Legal Affairs, Government of the Republic of Zambia
Making loans to the Tazama Pipelines Limited to enable that Company to construct a pipeline from
Dar es Salaam in Tanzania to Ndola in Zambia.