Statutory Instrument 85 of 2020. Statutory Instrument 85 of 2020.

S.I. 82 of 2020 [CAP. 22:05 Proclamation 1 of 2020 [CAP. 22:05

Exchange Control (Exclusive Use of Zimbabwe Dollar for Domestic Exchange Control (Exclusive Use of Zimbabwe Dollar for Domestic
Transactions) (Amendment) Regulations, 2020 (No. 2) Transactions) (Amendment) Regulations, 2020 (No. 2)

IT is hereby notified that His Excellency the President, in terms IT is hereby notified that His Excellency the President, in terms
of section 2 of the Exchange Control Act [Chapter 22:05], has made of section 2 of the Exchange Control Act [Chapter 22:05], has made
the following regulations:— the following regulations:—

1. These regulations may be cited as the Exchange Control 1. These regulations may be cited as the Exchange Control
(Exclusive Use of Zimbabwe Dollar for Domestic Transactions) (Exclusive Use of Zimbabwe Dollar for Domestic Transactions)
(Amendment) Regulations, 2020 (No. 2). (Amendment) Regulations, 2020 (No. 2).

2. The Exchange Control (Exclusive Use of Zimbabwe Dollar 2. The Exchange Control (Exclusive Use of Zimbabwe Dollar
for Domestic Transactions) Regulations, 2019, published in Statutory for Domestic Transactions) Regulations, 2019, published in Statutory
Instrument 212 of 2019, is amended by the insertion of the following Instrument 212 of 2019, is amended by the insertion of the following
section after section 5. section after section 5.

“Payment for goods and services using free funds “Payment for goods and services using free funds

6. (1) In this section— 6. (1) In this section—

“free funds” bears the meaning given to that term in Statutory “free funds” bears the meaning given to that term in Statutory
Instrument 109 of 1996, and includes funds lawfully Instrument 109 of 1996, and includes funds lawfully
held or earned in foreign currency by any person. held or earned in foreign currency by any person.

(2) Notwithstanding these regulations, any person may pay (2) Notwithstanding these regulations, any person may pay
for goods and services chargeable in Zimbabwe dollars, in foreign for goods and services chargeable in Zimbabwe dollars, in foreign
currency using his or her free funds at the ruling rate on the date of currency using his or her free funds at the ruling rate on the date of
payment. payment.

(3) The payment envisaged in subsection (2) may be done (3) The payment envisaged in subsection (2) may be done
electronically through a foreign currency account or in cash or through electronically through a foreign currency account or in cash or through
any electronic payment platform.”. any electronic payment platform.”.

Supplement to the Zimbabwean Government Gazette Extraordinary dated the 29th March, 2020. Supplement to the Zimbabwean Government Gazette Extraordinary dated the 29th March, 2020.
Printed by the Government Printer, Harare. Printed by the Government Printer, Harare.

457 458 437

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