CHAPTER 420
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

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]

Act 13 of 1968.

1. Short title

This Act may be cited as the Financial Institutions (Validation of Acts) Act.

2. Interpretation

   (1) In this Act, unless the context otherwise requires—

“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 20 of Bank of Zambia Act.