CHAPTER 360 - BANK OF ZAMBIA ACT: SUBSIDIARY LEGISLATION
INDEX TO SUBSIDIARY LEGISLATION
Determination of Standard Weight, Composition and Remedy of Coins
Standard Weight, Composition and Remedy of Coins
Bank of Zambia (Minimum Liquidity Ratios and Reserve Requirements) (No. 2) Notice
Bank of Zambia (Credit Guarantee Scheme) Regulations
Bank of Zambia (Call in and Surrender of Currency) Regulations
Bank of Zambia Act (Commencement) Order
Bank of Zambia (Monitoring of Balance of Payments) (Revocation) Order
Bank of Zambia (Currency) (Revocation) Order
DETERMINATION OF STANDARD WEIGHT, COMPOSITION AND REMEDY OF COINS
[Section 9(2)]
SI 133 of 1982.
[Determination by the Minister on the recommendation of the Bank of Zambia]
It is hereby determinedThis Determination made under the repealed Act continues in operation under section 15 of the Interpretation and General Provisions Act.* that the standard weight and composition and the amount of remedy of coins issued by the Bank shall be as specified in the Schedule hereto.
|
Denomination |
Standard Composition |
Standard Weight |
Amount of Remedy |
||
|
Imperial Grains |
Metric Grains |
Weight |
Composition |
||
|
A weight not exceeding the weight of one piece in: |
|||||
|
Fifty |
Seventy-five per cent copper, |
180,00 |
11.66 |
100 pieces |
Nickel ± 1% |
|
Two |
steel, |
64.816 |
4.2 |
- |
|
|
ngwee |
copper |
32.408 |
2.1 |
- |
|
|
One |
cladding 5 |
||||
|
ngwee |
per cent of |
STANDARD WEIGHT, COMPOSITION AND REMEDY OF COINS
[Section 29 (2)]
SI 115 of 1968.
[Determination by the Minister on the recommendation of the Bank of Zambia]
It is hereby determinedThis Determination made under the repealed Act continues in operation under section 15 of the Interpretation and General Provisions Act.* that the standard weight and composition and the amount of remedy of coins issued by the Bank shall be as specified in the Schedule.
SCHEDULE
|
Denomination |
Standard |
Standard Weight |
Amount of Remedy |
||
|
Imperial Grains |
Metric Grains |
Weight |
Composition |
||
|
A weight not exceeding the weight of one piece in: |
|||||
|
Twenty ngwee |
Sixty per cent copper |
174.54545 |
11.31036 |
175 pieces |
Copper ± 1% |
|
Ten |
Twenty per cent nickel |
87.27272 |
5.65518 |
150 pieces |
Nickel ± 1% |
|
Five ngwee |
Twenty per cent zinc |
43.63636 |
2.82759 |
125 pieces |
BANK OF ZAMBIA (MINIMUM LIQUIDITY RATIOS AND RESERVE REQUIREMENTS) (No. 2) NOTICE
[Section 29]
Arrangement of Paragraphs
Paragraph
[Notice by the Bank]
SI 77 of 1978.
This Notice may be cited as the Bank of Zambia (Minimum Liquidity Ratios and Reserve Requirements) (No 2) NoticeThis notice made under the repealed Act continues in operation under section 15 of the Interpretation and General Provisions Act.*.
Every commercial bank shall maintain with the Bank of Zambia-
(a) a minimum reserve balance to the extent of-
(i) fifteen per centum of its demand deposit liabilities; and
(ii) eight per centum of its time deposit liabilities; and
(b) special reserves equal to one hundred per centum of its liabilities to customers relating to arrears of external payment, and such reserves shall not qualify as liquid assets for purposes of the Act.
Every commercial bank shall hold the minimum amount of liquid assets to the extent of thirty per centum of its liabilities to the public, excluding liabilities relating to arrears of external payment.
BANK OF ZAMBIA (CREDIT GUARANTEE SCHEME) REGULATIONS
[Currency mentioned in this regulation should be re-denominated as stipulated under S 4 of Re-denomination Act, 2012, read with S 29 of Bank of Zambia Act, 1996.]
Arrangement of Regulations
PART I
PRELIMINARY
Regulation
PART II
THE SCHEME
5. Qualification of period of repayment of advance
8. Advance less than guaranteed amount
PART III
APPLICATION AND CLAIMING PROCEDURE
PART IV
ACCOUNTS AND RETURNS
20. Returns by approved institution
PART V
MISCELLANEOUS
22. Instructions to approved institutions
23. Right to reject application
[Regulations by the President]
SI 52 of 1987,
SI 86 of 1989.
PART I
PRELIMINARY
These Regulations may be cited as the Bank of Zambia (Credit Guarantee Scheme) Regulations.These Regulations made under the repealed Act continues in operation under section 15 of the Interpretation and General Provisions Act.*
In these Regulations, unless the context otherwise requires-
"advance" means a loan repayable on demand during or on expiry of a fixed or determinable period and includes an overdraft or a purchase or discount of bills and any other credit facility;
"amount in default" means an amount in respect of a guaranteed advance remaining unpaid on the date on which a guarantee is invoked including overdue interest and other charges recoverable in accordance with normal banking practice;
"approved institution" means an institution listed in the First Schedule;
"enterprise" means an undertaking engaged in manufacture, agriculture or in the provision of services;
"guarantee" means a guarantee issued pursuant to these Regulations;
"guaranteed amount" or "guaranteed advance" means the amount of advance covered by guarantee;
"manufacture" means the process of commercial transformation of raw materials or semi-processed materials into finished or semi-finished products and includes the assembly of inputs into finished or semi-finished products, repairing and packing, but does not include mining or recovery of minerals;
"scheme" means the credit guarantee scheme provided for under these Regulations;
"service" means any service for the supply of provision of goods, commodities, facilities or amenities for reward or otherwise, which is performed by physical or mechanical means;
"SIDO" means the Small Industries Development Organisation established under the Small Industries Development Act, 1981;
"small scale enterprise" means an enterprise having capital assets not exceeding one and half million kwacha or such higher amount as may be prescribed from time to time;
"VIS" means the Village Industry Service, a service registered under the Societies Act;
[Am by SI 86 of 1989.]
PART II
THE SCHEME
The Bank may provide a guarantee to an enterprise if the enterprise-
(i) is a "small scale enterprise";
(ii) is engaged in manufacturing or in the provision of a service; and
(iii) is engaged in a sector approved by the Bank.
[Am by SI 86 of 1989.]
Notwithstanding regulation 3, the Minister may direct that the Bank guarantee an advance by an approved institution to a small enterprise.
5. Qualification of period of repayment of advance
No guarantee will be issued unless the Bank is satisfied that-
(i) in case of an advance in the form of a loan repayable over a fixed period, such period of repayment does not exceed ten years; and
(ii) in case of any other form of advance, the repayment period does not exceed two years.
(1) Where an approved institution intends to increase an advance which is guaranteed by the Bank, application for such proposed increase should be made to the Bank in Form CGS 1 of the Second Schedule.
(2) If the Bank approves the increase referred to in sub-regulation (1), the approval shall be communicated to the approved institution in Form CGS 2 of the Second Schedule.
(1) Unless prior notice is given to the Bank for the approval of the extension of the guarantee, the Bank's liability shall not apply to such an extended period of repayment.
(2) Application for the extension of a guarantee by an approved institution shall be made in Form 3 of the Second Schedule at least 30 days before the due date of expiry of the guarantee.
(3) The Bank's approval referred to in sub-regulation (1) shall be communicated to the approved institution in Form CGS 2 of the Second Schedule.
8. Advance less than guaranteed amount
If the total advance eventually utilised by the small enterprise is lower than the guaranteed amount, the approved institution may communicate that fact in writing to the Bank for a refund, on a pro rata basis, of the guarantee fee specified under regulation 9.
(1) An approved institution shall pay to the Bank at the time of lodging an application for a guarantee under this scheme, a fee equal to one per centum of the amount of the advance intended to be guaranteed.
(2) Every subsequent year during which a guarantee is in force, a fee at the rate of one per centum of the guaranteed amount shall be paid to the Bank by the approved institution on the anniversary date of the approval of the guarantee.
(3) If the approved institution does not pay to the Bank the fee as provided for in sub-regulations (1) and (2), the guarantee issued by the Bank shall be void ab initio.
Any advance by an approved institution to a small scale enterprise whether that advance is for purposes of financing acquisition of fixed assets or capital equipment, or for providing working capital, may be covered under the scheme.
The following advances shall not be eligible for cover under the scheme-
(i) an advance that has been, or is intended to be, guaranteed by the Government;
(ii) an advance that has already been guaranteed by some other person;
(iii) an advance to an existing defaulter appearing in the books of an approved institution; and
(iv) an advance intended for onward lending.
(1) An approved institution shall be entitled to recover from the Bank seventy per centum of the amount on which default has occurred or the amount guaranteed, whichever is the lesser.
(2) Where a small scale enterprise has borrowed from various approved institutions severally, the amount recovered by the approved institution from the Bank under sub-regulation (1) shall be distributed to the approved institutions on a pro rata basis.
(3) Where an advance was approved to a small enterprise by approved institutions acting jointly, the amount recovered from the Bank under sub-regulation (1) shall be paid to the approved institution involved in arranging the advice.
[Am by SI 86 of 1989.]
PART III
APPLICATION AND CLAIMING PROCEDURE
Application for guarantee under the scheme shall be made by completing Form CGS 4 of the Second Schedule in triplicate and submitting that application to the Bank through an approved institution's head office.
The approved institution shall attach to Form CGS 3 of the Second Schedule confirmation-
(a) that it is satisfied with the viability of the proposed project from a technical point of view and that a reasonable return may be realised from the investment.
[Am by SI 86 of 1989.]
The approval of the Bank shall be communicated to an approved institution by the issuance of a Guarantee Certificate in Form CGS 5 of the Second Schedule.
{mprestriction ids="2,3,5"}
(1) An institution shall be entitled to recall an advance if the small scale enterprise has not yet utilised such advance notwithstanding that a guarantee had already been issued by the Bank.
(2) Whenever an approved institution recalls an advance it shall inform the Bank of this action and shall state-
(a) the name of the small enterprise;
(b) the amount of the advance; and
(c) the reasons for such recall.
(3) Where an advance is recalled, the Bank shall refund to the approved institution the guarantee fee paid to it is in accordance with the provisions of these regulations.
(1) An approved institution may invoke a guarantee issued in respect of an advance if it can satisfy the Bank that it took all reasonable steps a prudent lender would have taken to procure repayment of the advance.
(2) When it appears to an approved institution that a small enterprise is bound to default in repayment of an advance and it is likely that it will invoke the guarantee, the approved institution shall give notice of such default to the Bank as soon as is reasonably practicable in Form CGS 6 of the Second Schedule and submit it to the Bank.
(3) An approved institution shall attach to Form CGS 6 of the Second Schedule all correspondence that was exchanged between the small scale enterprise and the approved institution showing that the approved institution drew to the attention of the small scale enterprise the likelihood of or actual default in repayment.
(4) Notwithstanding the service of the notice of default on the Bank an approved institution shall continue to make reasonable efforts to recover the amount in default from the small scale enterprise and may for that purpose dispose of any other security obtained in respect of the advance.
(5) When an approved institution has made reasonable efforts to recover the amount in default, the approved institution shall lodge its claim with the Bank by submitting to it Form CGS 7 of the Second Schedule.
(6) As soon as the Bank is satisfied as to the validity of the claim submitted to it by an approved institution, it shall effect payment.
(7) The amount received by an approved institution from the Bank under sub-regulation (6) shall not be deposited to the advance account of the small scale enterprise but the approved institution shall continue to exercise necessary diligence in recovering the amount in default in all the ways open to it as it might have exercised if no guarantee had been given by the Bank.
(8) All recoveries made by an approved institution on account in respect of which it had invoked the guarantee shall be shared between the Bank and the approved institution, pro rata, to the loss incurred by the Bank and the approved institution.
(9) The Bank's share of recoveries specified under sub-regulation (8) shall be remitted to the Bank not later than seven days after the date of recovery.
(10) The balance of the amount in default in respect of which a claim has been paid by the Bank shall not be written off by an approved institution except with the prior approval of the Bank.
(1) Upon payment being effected under the guarantee pursuant to sub-regulation (6) of regulation 17 the Bank shall be discharged from all its liability under the guarantee.
(2) If within 6 months of the receipt of Form CGS 6 of the Second Schedule the Bank has not received Form CGS 7, it will be presumed that the approved institution has recovered the advance and the Bank shall be discharged from all its liabilities under the guarantee.
(3) Upon discharge from all the liabilities of the Bank under guarantee issued by it, an approved institution shall submit to the Bank the Guarantee Certificate issued under regulation 15 for cancellation.
PART IV
ACCOUNTS AND RETURNS
(1) The Bank shall submit every quarter of a year to the Minister an income and expenditure account of the scheme together with a written report of the performance of the scheme and may make recommendations, if any, to the Minister as it considers fit.
(2) Notwithstanding the provisions of sub-regulation (1) the Minister may at any time direct the Bank to submit an income and expenditure account of the scheme.
20. Returns by approved institution
(1) An approved institution shall submit to the Bank, in Form CGS 9 of the Second Schedule, particulars of its advances guaranteed by the Bank as at June 30 and December 31.
(2) An approved institution shall submit to the Bank every quarter of a year returns-
(a) in Form CGS 8 of the Second Schedule in respect of advances where a guarantee has been invoked; and
(b) in Form CGS 10 of the Second Schedule giving a summary of activities of advances referred to in paragraph (a) and a written statement showing recoveries, if any, made since a guarantee was invoked.
(3) Every approved institution shall furnish to the Bank such receipts, certificates and any other documents relating to the scheme as the Bank may require.
(4) All returns mentioned in this regulation shall be submitted to the Bank not later than 30 days of the end of the period to which such returns refer.
(5) Failure to comply with the provisions of this regulation shall discharge the Bank of its liabilities under the guarantees which such return ought to have covered.
PART V
MISCELLANEOUS
The Bank shall through its inspectors carry out at such time as it considers fit an inspection of the accounts of an approved institution to which provisions of these Regulations relate.
22. Instructions to approved institutions
The Bank may from time to time issue written instructions to approved institutions on operational matters of the scheme and such instructions shall bind the approved institutions.
23. Right to reject application
The Bank shall have the right to reject an application for a guarantee without assigning any reason therefor.
[Regulation 2]
APPROVED INSTITUTIONS
1. African Commercial Bank Limited
2. Bank of Credit and Commerce (Zambia) Limited
3. Barclays Bank of Zambia Limited
4. Citibank (Zambia) Limited
5. Grindlays Bank International (Zambia) Limited
6. Indo-Zambia Bank Limited
7. Obsolete
8. Small Scale Enterprises Promotion Limited
9. Standard Chartered Bank (Zambia) Limited
10. Zambia Agricultural Development Bank
11. Zambia National Commercial Bank Limited
12. Zambia State Insurance Corporation Limited
13. Small Industries Development Organisation
14. Finance Bank Limited
15. Obsolete
16. Lima Bank Limited
17. Development Bank of Zambia
18. Manifold Investment Bank Limited
19. Zambia State Finance Company
[Am by SI 86 of 1989.]
[Regulations 6, 7, 13, 14, 15, 17 AND 18]
PRESCRIBED FORMS
FORM CGS 1
APPLICATION FOR ENHANCEMENT IN GUARANTEE COVER
|
Name and address of approved institution |
|
|
................................................................... |
|
|
................................................................... |
|
|
................................................................... |
|
|
Application No...................................... |
Date.............................................................. |
The General Manager
Bank of Zambia
Bank Square
P.O. Box 30080
Lusaka
Dear Sir,
CREDIT GUARANTEE SCHEME
We have found it necessary to increase from K ..................................... to K ............................................................... the credit facility granted to ............................................ ............................................................................................................................................................
(name of borrower)
guaranteed by you under your Guarantee Certificate No. ...............................................dated ..................................................................... and we hereby apply for an enhancement of the guarantee. The final repayment of the enhanced loan is due, on .................................... the reasons, for the need to increase the credit facility are:
....................................................................................................................................................................................................................................................................................................................................................................................................................................................................................
We certify that the existing advance is being/has been* properly utilised and that the enhancement is being granted to enable the borrower meet the needs of the project.
We understand that the terms of the Scheme and the instructions issued by the Bank there under shall apply to the enhanced guarantee and shall be binding on us.
|
Yours Faithfully, |
|
........................................................................... |
|
(Name of approved institution) |
|
Signature ........................................................... |
|
Name ................................................................ |
|
(in block letters) |
|
Designation ......................................................... |
|
*Delete whichever is inapplicable. |
FORM CGS 2
EXTENSION OR ENHANCEMENT
Bank of Zambia
Bank Square
P.O. Box 30080
Lusaka
|
Ref. No .......................................................... |
|
|
Name and address of approved institution |
|
|
........................................................................ |
|
|
........................................................................ |
|
|
........................................................................ |
|
|
........................................................................ |
Date ......................................................................... |
Dear Sir,
ENDORSEMENT TO GUARANTEE CERTIFICATE ON EXTENSION/ENHANCEMENT* OF CREDIT FACILITY
We write to acknowledge receipt of your application No. ............................................................ dated ............................................................... for an extension/enhancement* of the guarantee given to you under our Guarantee Certificate No ........................................................................ dated ........................................... in respect of the credit facility of K............................... granted to ......................................................................
(name of borrower)
the last repayment of which is due on ...................................................................... but which on extension is due on ............................................................................... on enhancement amount to K ............................... and is due on ...................................................................
We certify that the guarantee has been extended/enhanced* according to the terms of your application.
|
.................................................................................. |
|
Signature |
|
Name ...................................................................... |
|
(in block letters) |
|
Designation .............................................................. |
|
Place ........................................................................ |
|
*Delete whichever is inapplicable. |
FORM CGS 3
APPLICATION FOR EXTENSION OF GUARANTEE
|
Name and address of approved institution |
|
.................................................................................. |
|
.................................................................................. |
|
.................................................................................. |
|
Date ......................................................................... |
Application No ...................................
The General Manager
Bank of Zambia
Bank Square
P.O. Box 30080
Lusaka
Dear Sir,
CREDIT GUARANTEE SCHEME
We hereby apply for extension of the guarantee given to us under your Guarantee Certificate No ............................................................ dated ...................................... in respect of the credit facility K .................................................................................. granted to .......................................................................................................................................................
(name of borrower)
the last repayment of which is due on ..................................................................... but which, on extension, will now be due on ........................................................................................................
The need for the renewal of the loan arises from the following facts:
........................................................................................................................................................................................................................................................................................................................................................................................................................................................................
We certify that the operations of the borrower in respect of the facility earlier guaranteed have been satisfactory and that there is justification for extending the facility. We understand that if this application for extension is granted, the terms of the Scheme and the instructions issued thereunder by the Bank shall be binding on us.
|
For and on behalf of |
|
.................................................................................................................... |
|
(name of approved institution) |
|
Signature ..................................................................................................... |
|
Date ............................................................................................................. |
|
Name ...................................................................... |
|
(in block letters) |
|
Designation .......................................................... |
FORM CGS 4
APPLICATION FOR GUARANTEE
|
Name and address of approved institution |
|
.................................................................................. |
|
.................................................................................. |
|
........................................................................... |
|
Date ......................................................................... |
Application No ...................................
The General Manager
Bank of Zambia
Bank Square
P.O. Box 30080
Lusaka
Dear Sir,
CREDIT GUARANTEE SCHEME
We hereby apply under the above Scheme for guarantee in respect of a loan of K ...................... (amount in words) granted in accordance with the particulars given below.
1. Name of borrower .................................................................................................................................
2. Business address of borrower .............................................................................................................................................................................................................................................................................................................................................
3. Residential address of borrower ............................................................................................................................................................................................................................................................................................................................................
4. Type of borrower ............................................................................................................................................
(Individual, partnership, private/public company, co-operative society/union, etc.)
5. Names and addresses of proprietors/partners/directors/trustee, etc.
(a) ...............................................................................................................................................................................................................................................................................................................
(b) ..............................................................................................................................................................................................................................................................................................................
(c) ..............................................................................................................................................................................................................................................................................................................
(d) .............................................................................................................................................................................................................................................................................................................
(e) ...............................................................................................................................................................................................................................................................................................................
6. Type of industrial activity .................................................................... (manufacturer, engineering, etc)
7. Description of the location of the project .................................................................................................
8. Particulars of the credit facility-
(a) Nature of facility ....................................................................................................................................................................
(advances, overdraft, loan, etc)
(b) Limit sanctioned ......................................................................................................................................................
(c) Rate of interest ......................................................................................................................................................
(d) Purpose for which sanctioned ......................................................................................................................................................
(e) Date of first disbursement .....................................................................................................................................................
(f) Duration of the loan .....................................................................................................................................................
(g) Repayment of the first installment due on .....................................................................................................................................................
(h) Repayment of the last installment due on ....................................................................................................................................................
(i) Nature of value of security ....................................................................................................................................................
9. Branch office of the Bank at which the credit facility is being provided
.............................................................................................................................................................
10. If the project is being jointly financed with other banks, state name and branch of each bank.
(a) ..................................................................................................................................................
(b) ...................................................................................................................................................
(c) ...................................................................................................................................................
11. Particulars of the credit facilities already provided to the borrower by you and/or others (on the basis of information available).
|
Name and address of creditor |
Type of facility |
Amount |
|
|
(a) |
.................................................................................................................... |
....................... |
....................... |
|
.................................................................................................................... |
|||
|
(b) |
.................................................................................................................... |
....................... |
....................... |
|
.................................................................................................................... |
|||
|
(c) |
.................................................................................................................... |
....................... |
....................... |
|
.................................................................................................................... |
|||
|
(d) |
.................................................................................................................... |
....................... |
....................... |
We undertake that if the guarantee applied for is given, the terms and conditions of the Scheme and the instructions issued thereunder shall be binding on us and the terms thereof shall be deemed to be part of the guarantee.
|
Yours faithfully, |
|
............................................................................. |
|
(name of approved institution) |
|
Signature ..................................................................................................... |
|
Date ...................................................... |
|
Name ....................................................................... |
|
(in block letters) |
|
Designation .................................................................................................. |
FORM CGS 5
GUARANTEE CERTIFICATE
Bank of Zambia
Bank Square
P.O. Box 300 80
Lusaka
Certificate No. ...........................................
We refer to your application for guarantee No. ............................ of ....................................... (date) and certify that subject to the provisions of the Credit Guarantee Scheme as provided for in the Bank of Zambia Act and the Regulations and instructions issued thereunder by the Bank and in consideration for the loan granted by your commercial bank as specified in the Schedule below, the Bank hereby agrees to make good to yourselves, in the event of the borrower's default, 70 per cent of the amount in default net of the amount realised from the sale, where possible, of any security held by you subject to the Bank's maximum liability of K100,000 (one hundred thousand Kwacha).
SCHEDULE
Name of approved institution ..........................................................................................................................
Branch of approved institution ........................................................................................................................
Name of borrower ...........................................................................................................................................
Type of facility .................................................................................................................................................
Amount ............................................................................................................................................................
Purpose for which granted ..............................................................................................................................
Period for which granted .................................................................................................................................
Date of final repayment ...................................................................................................................................
Dated this .............................................................................. day of .............................................. 20 ............
|
Signature .......................................................... |
|
Name ............................................................... |
|
(in block letters) |
|
Designation ........................................................ |
|
Place ................................................................. |
Amount realised from the sale of security K .......................................................................................
Percentage guaranteed .......................................................................................................... percent
Amount claimed in terms of the Guarantee .........................................................................................
General remarks (if any) ......................................................................................................................
..............................................................................................................................................................
|
Yours faithfully, |
|
.................................................................................................................... |
|
(name of approved institution) |
|
Signature .................................................................. |
|
Name ................................................................. |
|
(in block letters) |
|
Designation ....................................................... |
Please attach copy of the statement of accounts of the borrower for the past one year (or shorter period as appropriate).
FORM CGS 6
NOTICE OF DEFAULT
|
Name and address of approved institution |
|
|
Ref. No. ............................................. |
........................................................................... |
|
........................................................................... |
|
|
........................................................................... |
|
|
Date ......................................................................... |
The General Manager
Bank of Zambia
Bank Square
P.O. Box 30080
Lusaka
Dear Sir,
NOTICE OF DEFAULT
We write to inform you that a default has occurred in the installment/final* repayment of the loan granted to ........................................................................(name of borrower) and guaranteed by you under your Guarantee Certificate No. ....................................................... dated .......................................... and that we may soon be putting up a claim. The amount outstanding in the account is K ............................................................................. and the following steps were taken by us to recover the amount: ..........................
|
For and on behalf of |
|
.................................................................................................................... |
|
(name of approved institution) |
|
Signature ..................................................................................................... |
|
Name ........................................................................................................... |
|
(in block letters) |
|
Designation .................................................................................................. |
|
*Delete whichever is inapplicable. |
FORM CGS 7
GUARANTEE CLAIM
(To be issued from the Head Office of the approved institution and forwarded to the address below)
|
Name and address of approved institution |
|
|
Ref. No. ............................................. |
.................................................................................. |
|
.................................................................................. |
|
|
.................................................................................. |
|
|
Date ......................................................................... |
The General Manager
Bank of Zambia
Bank Square
P.O. Box 30080
Lusaka
Dear Sir,
CREDIT AND EXPORT GUARANTEE SCHEME
We refer to our "Note of Default" Ref. No .............................................................. dated ................. in respect of the loan guaranteed by you under your Guarantee Certificate No. ........................................................................... dated .................................. As we have taken all necessary steps and have not been able to recover the whole amount in default we hereby invoke the guarantee under the terms of the Scheme as stated in the Regulations and instructions thereunder and request the payment to us of the sum of K ............................................................... in respect of the amount guaranteed.
The relevant details are given below:
Name of borrower ................................................................................................................................
Address of borrower ............................................................................................................................
..............................................................................................................................................................
Purpose for which credit facility was granted ......................................................................................
..............................................................................................................................................................
..............................................................................................................................................................
..............................................................................................................................................................
..............................................................................................................................................................
Amount due from the borrower as at the date of this claim:
|
Principal ............................................................. |
|
.......................................................................... |
|
Interest .............................................................. |
|
.......................................................................... |
|
Total ................................................................. |
|
.......................................................................... |
Particulars of steps taken to recover the amount and the outcome of such steps:
..............................................................................................................................................................
..............................................................................................................................................................
..............................................................................................................................................................
..............................................................................................................................................................
|
Yours faithfully, |
|
...................................................................................... |
|
(name of approved institution) |
|
Signature ...................................................................................... |
|
Name .................................................................................... |
|
(in block letters) |
|
Designation ....................................................................................... |
Please attach copy of the statement of accounts of the borrower for the past one year or shorter period, as appropriate.
FORM CGS 8
RETURN OF ADVANCES IN RESPECT OF WHICH GUARANTEE HAS BEEN INVOKED FOR THE QUARTER ENDED
21ST MARCH/30TH JUNE/30TH SEPTEMBER/31ST DECEMBER 20......
Name of the approved institution .............................................................. Address ......................................................
|
Guarantee Certificate |
Amount outstanding at the time of claim |
Remarks |
||||||||
|
Serial Number |
Nature of Advance |
Number |
Date |
Date of Guarantee claims |
Principal |
Interest |
Total |
Guarantee amount received |
Amount of recoveries during the quarter (if any) |
Amount of recoveries paid to the Bank during the quarter |
|
|
|
For and on behalf of ...................................................................................... |
|
(name of approved institution) |
|
Signature .......................................................................................... |
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Name .......................................................................................... |
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(in block letters) |
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Designation ......................................................................................... |
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Date ........................................................................ |
FORM CGS 9
RETURN OF ADVANCE GUARANTEED UNDER THE CREDIT GUARANTEE SCHEME DURING THE HALF YEAR ENDED
30TH JUNE/31ST DECEMBER, 20..........
Name of the approved institution ........................................ Address................................................................
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Guarantee Certificate |
Remarks |
|||||||||||
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Number |
Date |
Name of Borrower |
||||||||||
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|
Note: State in Remarks Column:
(1) Where there is an ENDORSEMENT relating to a Guarantee Certificate, state the number and date of endorsement.
(2) State whether "Notice of Default" or "Guarantee Claim" is being or has been submitted.
|
For and on behalf of ........................................................................................... |
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(name of approved institution) |
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Signature ................................................................................ |
|
Nam...................................................................... |
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(in block letters) |
|
Designation ........................................................................... |
|
Date ......................................................... |
FORM CGS 10
RETURN OF ACTIVITIES REGARDING THE CREDIT GUARANTEE SCHEME DURING THE QUARTER ENDED
31ST MARCH - 30TH JUNE - 30TH SEPTEMBER - 31ST DECEMBER, 20 ..........
Name of approved institution ................................................................................................................
Address ................................................................................................................................................
..............................................................................................................................................................
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1. |
No. of loan applications received ............................................................................................ |
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|
2. |
No. approved ........................................................................................................................... |
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|
3. |
No. rejected ............................................................................................................................. |
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|
4. |
No. of applications for guarantee submitted ........................................................................... |
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|
5. |
No. of Guarantee Certificates issued ..................................................................................... |
|
|
(i) |
Drawings/disbursement during the month K ............................................................... |
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|
(ii) |
Drawings/disbursement to date K ................................................................................ |
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(iii) |
Interest charged in the month K .................................................................................... |
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(iv) |
Total interest charged to date K .................................................................................... |
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(v) |
Total repayments to date K ........................................................................................... |
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6. |
No. of guaranteed loans finally repaid ..................................................................................... |
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|
7. |
Amount of guaranteed loans outstanding K ........................................................................... |
|
|
8. |
No. of "Notice of Default" issued ............................................................................................ |
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|
9. |
No. of Guarantee Claims issued ............................................................................................ |
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|
10. |
Total amount claimed K ......................................................................................................... |
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|
11. |
Total amount of claims received K ......................................................................................... |
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For and on behalf of ................................................. |
|
(name of approved institution) |
|
Signature ................................................................. |
|
Name ...................................................................... |
|
(in block letters) |
|
Designation ............................................................ |
|
Date .......................................... |
BANK OF ZAMBIA (CALL IN AND SURRENDER OF CURRENCY) REGULATIONS
[Currency mentioned in this regulation should be re-denominated as stipulated under S 4 of Re-denomination Act, 2012, read with S 29 of Bank of Zambia Act, 1996.]
[Section 33]
Arrangement of Regulations
Regulation
4. Date of surrender of old currency
5. Date when old kwacha currency ceases to be legal tender
7. Revocation of SI No 88 of 1989
[Regulations by the President]
SI 154 of 1993,
SI 191 of 1993.
These Regulations shall be cited as the Bank of Zambia (Call in and Surrender of Currency) Regulations.These Regulations made under the repealed Act continues in operation under section 15 of the Interpretation and General Provisions Act.*
In these regulations, unless the context otherwise requires-
"dealer" means a commercial bank registered under the Banking Act;
"new kwacha currency notes and coins" means currency notes in K20, K50, K100, K500 denominations issued by the Bank under section 28 of the Act, which do not bear the portrait of the former President, Kenneth David Kaunda;
"old kwacha currency notes and coins" means the kwacha currency notes in K2, K5, K10, K20, K50, K100 and K500 and coins in 1n, 2n, 5n, 10n, 20n, 50n, and K1 denominations bearing the portrait of the former President, Kenneth David Kaunda;
"surrender" means the tendering of old kwacha currency notes and coins for exchange with new kwacha currency notes and coins and includes depositing the value of the old kwacha currency notes and coins into the owner's account maintained with a dealer;
(1) All old kwacha currency notes and coins are hereby called in for purposes of surrender.
(2) Any person holding or having in his possession old kwacha currency notes and coins may surrender such notes and coins to a dealer.
4. Date of surrender of old currency
The old kwacha currency notes and coins may be surrendered to a dealer during normal banking hours and dealers are authorised to commence accepting the surrendered notes and coins as from Tuesday the 30th November, 1993 to Monday the 31st January, 1994.
[Am by SI 191 of 1993.]
5. Date when old kwacha currency ceases to be legal tender
The old kwacha currency notes and coins shall cease to be legal tender on Monday the 31st January, 1994.
[Am by SI 191 of 1993.]
The Bank may issue, from time to time, such directions or instructions as it may consider necessary for the implementation of these Regulations by dealers.
7. Revocation of SI No 88 of 1989
The Bank of Zambia (Call in and Surrender Currency) Regulations, 1989 are hereby revoked.
BANK OF ZAMBIA ACT (COMMENCEMENT) ORDER
[Section 1]
Arrangement of Paragraphs
Paragraphs
2. Commencement of Act No. 43 of 1996
SI 191 of 1996.
1. Title
This Order may be cited as the Bank of Zambia Act (Commencement) Order, 1996.
2. Commencement of Act No. 43 of 1996
The Bank of Zambia Act, 1996, shall come into operation on 13th December, 1996.
BANK OF ZAMBIA (MONITORING OF BALANCE OF PAYMENTS) (REVOCATION) ORDER
[Section 57]
Arrangement of Paragraphs
Parargaph
2. Revocation of S.I. No. 55 of 2013
SI 26 of 2014.
This Order may be cited as the Bank of Zambia (Monitoring of Balance of Payments) (Revocation) Order, 2014.
2. Revocation of S.I. No. 55 of 2013
The Bank of Zambia (Monitoring of Balance of Payments) Regulations, 2013, are hereby revoked.
BANK OF ZAMBIA (CURRENCY) (REVOCATION) ORDER
[Section 57]
Arrangement of Paragraphs
Parargaph
2. Revocation of S.I. No. 33 of 2012
SI 27 of 2014.
This Order may be cited as the Bank of Zambia (Currency) (Revocation) Order, 2014.
2. Revocation of S.I. No. 33 of 2012
The Bank of Zambia (Currency) Regulations, 2012, are hereby revoked.
{/mprestriction}