The Zambia Development Agency (Amendment) Act 2012

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Zambia Development Agency 

(No. 15 of 2012 237
(Amendment)

GOVERNMENT OF ZAMBIA

ACT
No. 15 of 2012

Date of Assent: 19th December, 2012

An Act to amend the Zambia Development Agency Act,
2006.

[21st December, 2012

ENACTED by the Parliament of Zambia. Enactment

1. This Act may be cited as the Zambia Development Agency Short title
(Amendment) Act, 2012, and shall be read as one with the Zambia
Development Agency Act, 2006, in this Act referred to as the Act No. 11
principal Act. of 2006

2. Section seventeen of the principal Act is amended by— Amendment
(a) the insertion of the figure "(1)" between the number "17" of section 17
and the word "The"; and

teen of the principal Act is amended by— Amendment
(a) the insertion of the figure "(1)" between the number "17" of section 17
and the word "The"; and

(b) the insertion, immediately after subsection (1), of the
following new subsections:
(2) The Board may enter into an investment
protection and promotion agreement with an investor
in which the Board and the investor shall agree on
development and investment matters provided for
under this Act.
(3) The provisions of an investment protection
and promotion agreement shall include a detailed
schedule in relation to—
(a) employment creation, local business 
development and an undertaking to
complete the necessary environmental
impact assessment required by the Zambia
Environmental Management Agency,
where applicable;
(b) the financial progression of a proposed
project; and
(c) any other relevant information on investment
as may be prescribed.

Single Copies of this Act can be obtained from the Government Printer,
P.O. Box 30136, 10101 Lusaka, Price K2,000 each

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238 No. 15 of 2012] 

Repeal and
replacement
of section 69

Consideration
of
application
for licence,
permit or
certificate of
registration

Act No. 12
of 
2011

Cap. 323
Cap. 322

Cap. 322
Cap. 323

Zambia Development Agency
(Amendment)

n
for licence,
permit or
certificate of
registration

Act No. 12
of 
2011

Cap. 323
Cap. 322

Cap. 322
Cap. 323

Zambia Development Agency
(Amendment)

3. The principal Act is amended by the repeal of section sixty- nine and the substitution therefor of the following:

69. (1) The Board shall, in considering an application for a licence, permit or certificate of registration under section sixty-eight and for purposes of determining entitlement to an incentive under section fifty-nine, have regard to—
    
   (a) the need to promote economic development and growth in Zambia;
   
   (b) the extent to which the proposed investment will lead to the creation of employment opportunities and the development of human resources;
   
   (c) the applicant’s pledge for employment creation and training of citizens of Zambia;
   
   (d) the degree to which the project is export-oriented;
   
   (e) the impact the proposed investment is likely to have on the environment and, where necessary, the measures proposed to deal with an adverse environmental impact in accordance with the Environmental Management Act, 2011;
   
   (f) the possibility of the transfer of technology; and
   
   (g) any other considerations that the Board considers appropriate.

ent Act, 2011;
   
   (f) the possibility of the transfer of technology; and
   
   (g) any other considerations that the Board considers appropriate.

(2) Where the Board, in considering an investor’s entitlement to an incentive, determines from the investor’s pledge of employment creation and training for citizens of Zambia made under subsection (1) that the investor shall create employment for citizens of Zambia as may be prescribed, the Board shall recommend to the Commissioner-General that tax incentives be granted to the investor under the Income Tax Act or the Customs and Excise Act.

(3) Where an investor fails or neglects to create the employment and training for citizens of Zambia in a particular year according to the pledge submitted under subsection (1), the Commissioner-General shall suspend or withdraw the tax incentives granted to the investor under the Income Tax Act or Customs and Excise Act for that year on such terms and conditions as the Commissioner-General may specify.

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Zambia Development Agency
                    (Amendment)
                                                                                [No. 15 of 2012  239

evelopment Agency
                    (Amendment)
                                                                                [No. 15 of 2012  239

4.     The principal Act is amended by the deletion of subsection    Amendment
(3) of section eighty-two and the substitution therefor of the       of section 82
following subsection:
                   (3)      The Minister may, by Statutory Instrument, after
consultation with the Minister responsible for finance, amend the
Second Schedule to this Act.

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