Tax Reserve Certificates Act, 1963

Jurisdiction
Zambia
Citation
Chapter 356
Date
31 December 1996
Language
English
Type
Legislation
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Zambia

Tax Reserve Certificates Act, 1963

Chapter 356

  • Commenced on 6 September 1963
  • [This is the version of this document at 31 December 1996.]
[44 of 1963; Statutory Instrument 159 of 1965]An Act to make provision for the issue of tax reserve certificates; and to provide for incidental matters.

1. Short title

This Act may be cited as the Tax Reserve Certificates Act.

2. Issue of tax reserve certificates

(1)The Minister is hereby empowered to issue certificates called tax reserve certificates of such denominations and subject to such conditions as he may by regulation prescribe.
(2)Such certificates shall be accepted by the Government at their face value, plus any interest due thereon, in payment by the holder thereof of any amount payable by him in respect of any direct tax specified by the Minister by statutory notice.[As amended by S.I. No. 159 of 1965]

3. Moneys received for tax reserve certificates to be paid into a deposit account

All moneys received for the purchase of tax reserve certificates under this Act shall be paid into a deposit account of the Government established by the Minister for the purpose, and any amounts required for the redemption of such tax reserve certificates shall be paid out of such deposit account.

4. Moneys received for tax reserve certificates not to be regarded as borrowings under the General Loan and Stock Act

Moneys received for the purchase of tax reserve certificates issued under this Act shall not be regarded as loans for the purpose of the General Loan and Stock Act.[Cap. 350]
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History of this document

31 December 1996 this version
Consolidation
06 September 1963
Commenced

Subsidiary legislation

Title Numbered title
Tax Reserve Certificates (Amendment) Regulations, 1980 Statutory Instrument 39 of 1980