Savings Certificates Act, 1952
- Commenced on 1 August 1952
- [This is the version of this document at 31 December 1996.]
13 of 1994]An Act to make provision for the issue of savings certificates; and to provide for matters incidental thereto.
1. Short titleThis Act may be cited as the Savings Certificates Act.
2. InterpretationIn this Act, unless the context otherwise requires—"Certificate" means a Savings Certificate issued under the provisions of this Act;"Multiple Certificate" means a Certificate representing more than one Single Certificate;"Permanent Secretary" means the Permanent Secretary, Ministry of Finance;"Single Certificate" means a Certificate entitling the holder to receive on the tenth anniversary of the date of purchase of such Certificate such sum as is prescribed at the date of purchase in regulations made under this Act.[As amended by G.N. No. 315 of 1964 and S.I. No. 159 of 1965]
3. Authority to issue Certificates
4. Purpose for which money may be used
5. Certificates secured on revenues and assets of the RepublicThe principal moneys represented by the Certificates and any interest thereon are hereby charged upon and shall be payable out of the revenues and assets of the Republic.[As amended by S.I. No. 159 of 1965]
6. Management and controlThe administration and control of the issue of Certificates shall, subject to the authority of the Minister, be vested in the Postmaster-General who shall, subject to the provisions of this Act and any regulations made thereunder, take such steps as may be desirable for the proper management of the issue of Certificates and otherwise for the promotion of the objects and purposes of this Act.[As amended by G.N. No. 315 of 1964]
7. Where issuedCertificates shall be issued at all post offices at which money order business is transacted and at such other places in Zambia as may be approved by the Postmaster-General.
9. Annual accountsThe annual accounts of Certificates issued and Certificates repaid shall, after being audited and certified by the Auditor-General, be published in the Gazette.
10. Certificates exempt from income tax and stamp duty
11. Name of purchaser of Certificate not to be disclosedNeither the Postmaster-General, nor any person appointed to assist him in carrying out the provisions of this Act, shall disclose the name of any purchaser of a Certificate except in due course of law or to any person or persons appointed as aforesaid to assist in carrying out the provisions of this Act. Any person contravening the provisions of this section shall be guilty of an offence and on conviction shall be liable to a fine not exceeding three thousand penalty units.[As amended by Act No. 13 of 1994]
12. Non-liability of Government, Postmaster-General, etc.When any payment is made or act done by the Postmaster-General, or any person acting under his authority in accordance with this Act and any regulations made thereunder, the Government, the Postmaster-General and such person shall not be liable in respect of any claim on the part of any person in connection with such payment or act, but any person may nevertheless recover any sum lawfully due to him from the person to whom the Postmaster-General has paid the same:Provided that—
13. Suspension of issue of CertificatesSubject to the provisions of subsection (1) of section three, the Minister may, from time to time as he thinks fit, suspend and resume the issue of Certificates.[As amended by G.N. No. 315 of 1964]
14. RegulationsThe Minister may, by statutory instrument, make regulations, prescribing—
History of this document
31 December 1996 this version
01 August 1952