Regulatory Alerts2022-04-20
Exchange Control Act, Chapter 22:05
Zimbabwe's Parliament enacted the Exchange Control Act to regulate gold, currency, securities, and exchange transactions while imposing duties on property importation, exportation, and settlement. The President exercises broad regulatory powers to control domestic currency use, foreign dealings, and licensing, with recent amendments updating penalty structures and permitting fines in multiple currencies. Courts enforce compliance through civil defaults, value-based fines, imprisonment up to ten years, and state forfeiture of contravened assets.
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