Africa regulatory ENSight

Transcription

1 Africa regulatory ENSight

2 Botswana Immigration (Amendment) Act, 2016 Securities Act, 2014 and Regulations The Act was published in the Gazette on 16 December 2016 and passed by Parliament in April The Act commenced on 1 July Passed by Parliament in July 2014 with the commencement date of 1 April The Act allows the minister of Nationality, Immigration and Gender Affairs to give permanent residence to a non-citizen who has lawfully resided in Botswana for less than five years if the minister is satisfied that the non-citizen has established significant business in Botswana, or intends to make a significant investment in the country. The Act seeks to promote foreign investments. The Act consolidates and amends the laws relating to the regulation and supervision of the securities market in Botswana. Its effective date was postponed for the drafting of the: Securities (Institutions Licensing) Regulations, 2017 Securities (Person Operating a Securities Infrastructure Business) Regulations, The Securities (Institutions Licensing) Regulations, 2017 provide for licencing processes, fees, conditions and continuing obligations, licence validity periods and renewal terms. The Securities (Person Operating a\ Securities Infrastructure Business) Regulations, 2017 apply specifically to exchanges, central securities depositories or other clearing and settlement systems and central counterparties. These regulations place particular focus on consumer protection. Income Tax (Amendment) Act Passed by Parliament in April The Act commenced on 2 May The Act amends the provisions of the Income Tax Act, including the introduction of: transfer pricing rules withholding tax on directors fees where such person is working as a director for several companies.

3 Ghana Value Added Tax (Amendment) Act, 2017 Gazetted and came into effect on 7 April The Act amends the provisions of the Value Added Tax Act, 2013 (Act 870). Income Tax (Amendment) Act, 2017 Assented to by the president and published in the Government Gazette on 15 March The Act amends the provisions of the Income Tax Act, 2015, including exempting gains from the realisation of securities listed and traded on the Ghana Stock Exchange or publicly held securities approved by the Securities and Exchange Commission from capital gains tax from 15 March 2017 to 31 December 2021., Oil and gas Special Petroleum Tax (Amendment) Act, 2017 Assented to by the President and published in the Government Gazette on 15 March The Act amends the provisions of the Petroleum Tax Act, 2014, including reducing the special petroleum tax rate from 17.5% to 15% on specified petroleum products. Special Import Levy (Amendment) Act, 2017 Assented to by the President and published in the Government Gazette on 15 March The Act amends the provisions of the Special Import Levy Act, 2013, removing the import levy payable on specific imported goods. Following the amendment, the special import levy is to be levied at a flat rate of 2% on the cost. Energy Energy Sector Levies (Amendment) Act, 2017 Assented to by the President and published in the Government Gazette on 7 April The Act amends the Energy Sector Levies Act, 2015 to: review transfers into the Power Generation and Infrastructure Support Sub- Account reduce the national electrification scheme levy from 5% to 2% and the public lighting levy from 5% to 3% per kilowatt hour of electricity charged on all categories of consumers. Oil and gas Customs and Excise (Petroleum Taxes and Petroleum Related Levies) (Repeal) Act, 2017 Assented to by the President and published in the Government Gazette on 15 March The Act repeals the Customs and Excise (Petroleum Taxes and Petroleum Related Levies) Act, 2005 and removes excise duty on petroleum products.

4 Kenya Statute Law (Miscellaneous Amendment) Act, 2017 Signed into law by the president on 13 April The date of commencement was 4 May The law makes miscellaneous and minor amendments to the Judicature Act (Cap.8), the Advocates Act (Cap.16), the Prisons Act (Cap. 90), the Income Tax Act (Cap. 470) and the Value Added Tax Act, The Kenya Citizenship and Immigration Act has been amended to introduce the requirement for foreign spouses of Kenyans to obtain residence status prior to making an application for citizenship. The Bribery Act, 2016 Assented to on 23 December 2016 and came into force on 13 January The Act provides for the prevention, investigation and punishment of bribery and defines bribery offences that apply to public and private entities and individuals. The Competition (Amendment) Act, 2016 Assented to on 23 December 2016 and came into force on 13 January The Act amends the Competition Act, 2010, introducing the concept of buyer power and making the abuse of buyer power an offence. Proceeds of Crime and Anti-Money Laundering (Amendment) Act Signed into law by the President on 3 March The date of commencement is 24 March The law amends the Proceeds of Crime and Anti-Money Laundering Act and legislates that failure to comply with the Financial Reporting Centre s directives is an offence. The Insurance (Amendment) Act, 2016 Assented to on 23 December 2016 and came into force on 13 January The Act amends the Insurance Act, introducing a new concept of capital adequacy to determine the amount of capital required by an insurer and amending the factors to be considered when assessing risk. The Movable Property Security Right Act, 2017 Assented to on 10 May The Act commenced on 16 May The Act provides for: the establishment of the office of the Registrar of Security Rights registration of security rights in movable property in order to facilitate the use of movable property as collateral for credit.

5 Malawi Financial Crimes Act, 2017 Assented to on 14 February 2017 and promulgated on 16 February The object of the Act is to: repeals the Money Laundering, Proceeds of Serious Crime and Terrorist Financing Act establish an independent and autonomous Financial Intelligence Authority replacing the Financial Intelligence Unit better prevent, investigate and combat financial and related or consequential crimes enable the tracing, identification, tracking, freezing, seizure or confiscation of proceeds of crimes. Information and communications technology Access to Information Act, 2017 Assented to on 10 February 2017 and promulgated on 16 February The object of the Act is to: provide for the right of access to information in the custody of public bodies and relevant private bodies define the scope of information that the public has a right to access establish the Public Information Commission and define its functions promote transparency and accountability of public officers provide for matters connected with or incidental to the foregoing.

6 Mauritius Business Facilitation (Miscellaneous Provisions) Act, 2017 Gazetted on 20 May Came into force on 20 May 2017, except for sections 5, 8, 9, 17, 20 and 21 ( by proclamation) and section 26(a) and (b), which are deemed to have come into effect on 1 December To provide for amendments to the legislative framework that are necessary for the removal of constraints in relation to permits, licences, authorisations and clearances to further facilitate the doing of business, and for related matters. Amongst others, it amends the: The Act, among others, amends the: the Limited Liability Partnerships Act, the Limited Partnerships Act and Foundations Act, shifting the power at the time of registration from the relevant minister to the Registrar of Companies the Companies Act and Foundations Act to remove the requirement to have a company seal the Local Government Act, provides for: o applications for a building and land use permit ( BLUP ) to be submitted electronically. Businesses are also no longer required to produce their business registration cards and clearance certificates from the Central Electricity Board, Central Water Authority, Wastewater Management Authority and Fire Services prior to applying for a BLUP o where no BLUP or regulatory licence is required, businesses can start their operations immediately after registration of the business activity with the Corporate and Business Registration Department. Also, the timeframe for a local authority to issue an occupation certificate is being reduced from 10 days to five days the Income Tax Act, allowing businesses to pay their social contributions directly to the Mauritius Revenue Authority, which will, going forward, act as a single collecting agent for social contributions

7 Mauritius Business Facilitation (Miscellaneous Provisions) Act, 2017 (continued) the Investment Promotion Act, introducing regulations of an e-licencing system for the online submission of applications for licences, clearances and authorisations the Environment Protection Act, reducing the time set for submission of the outline of an undertaking by a proponent (developer) from three months to one month prior to submission of the environmental impact assessment ( EIA ) application the Notaries Act, streamlining the process to register a property and propose the possibility, through the Mauritius e-registry Platform, to carry out online searches on immovable properties the Morcellement Act, reducing the time frame for the Morcellement Board to forward its recommendations to the relevant minister to determine an application for a Morcellement Permit for projects holding a preliminary environment report or an EIA licence to three weeks the Insolvency Act, introducing the regulation of fees payable to a receiver in insolvency proceedings. Like liquidators, receivers are now entitled to charge, as fees, a capped percentage of the amount recovered through the disposal of assets the Mauritius Standards Bureau Act, promoting standardisation and quality assurance in industry and trade, now classifies some goods as controlled goods (for eg, cement, outboard motors) and tabulates the conditions under which such goods should be imported. Businesses importing such goods now have to apply to obtain an electronic conformity report prior to undertaking the imports. Land The Land Drainage Authority Act, 2017 Gazetted on 29 April The Act provides for the setting up of a Land Drainage Authority, which will be responsible for managing and coordinating drain projects, inclusive of the development and implementation of a land drainage master plan.

8 Namibia Access to Biological and Genetic Resources and Associated Traditional Knowledge Bill Passed by Parliament in April 2017 but not yet gazetted as an Act. The Bill provides for: regulation of access to biological or genetic resources and associated traditional knowledge, innovation, practices and technologies associated with biological and genetic resources and traditional knowledge protection of the rights of local communities over biological and genetic resources and associated traditional knowledge a fair and equitable mechanism for benefit sharing establishment of the necessary administrative structures and processes for the implementation and enforcement of such principles. Witness Protection Bill Passed by Parliament in April 2017 but not yet gazetted as an Act. The Bill provides for: The establishment of a Witness Protection Programme, including a Directorate for Witness Protection, a Witness Protection Advisory Committee and Witness Protection Fund to protect and assist witnesses and related persons. The Bill will replace the current procedure where by witnesses are protected under the Criminal Procedure Act of 1977.

9 Nigeria Secured Transactions in Movable Assets Act, 2017 Signed into law by the vice president on 30 May 2017 and came into force on the same day. The Act provides for: micro, small and medium enterprises registering their movable assets, such as motor vehicles, equipment and accounts receivable, in the National Collateral Registry, and using same as collateral for accessing loans. The registration of movable assets is expected to make finance more accessible to business owners who have no landed assets. The centrally registered assets can also be assessed by banks and financial institutions for valuation and use as collateral. Federal Competitive and Consumer Protection Bill, 2017 Passed by the Senate and the House of Representatives; awaiting assent by the president. The effective date is yet to be announced. The Bill provides for: establishing the Federal Competition Commission with the primary responsibility of promoting fair, efficient and competitive markets in Nigeria, and investigating anticompetitive practices prohibiting all agreements that directly or indirectly prevent, restrict or distort competition on any economic activity within the country, all acts or behaviour constituting an abuse of dominant position in the market and mergers, acquisitions, take overs and joint ventures that will lead to the creation of a dominant position or lack of competition in a market. Credit Reporting Act, 2017 Signed into law by the vice president on 30 May 2017 and came into force on the same day. The Act provides for: Credit Bureaus creating and administering a database to be used to assess and rate the creditworthiness of the customers of banks, leasing companies, mortgage institutions, insurance companies and other financial intuitions. It is expected that the Act will contribute to: credit discipline for small and medium scale business opening up credit facilities to the broader public through the establishment of a consumer credit rating system.

10 Nigeria Oil and gas Petroleum Industry Governance Bill Passed by the Senate on 25 May 2017; awaiting passage at the House of Representatives. The effective date is currently unknown. The Bill provides for: establishing a framework for the creation of commercially oriented and profit-driven petroleum entities to ensure value addition and internationalisation of the petroleum industry imposition of a 5% levy on petroleum products, to be paid into the Equalisation Fund creation of the National Petroleum Company and The Nigeria Petroleum Assets Management Company to take over the interests of Nigeria National Petroleum Corporation ( NNPC ) joint venture arrangements. The NNPC assets to be transferred to these entities are not clearly delineated and the 5% levy on petroleum products could have a significant impact on the operations of downstream petroleum companies and the retail price of petroleum products in Nigeria. Oil and gas Deep Offshore and Inland Basin Production Sharing Contracts Act (Amendment) Bill, 2016 Passed by the House of Representatives on 7 June Awaiting assent by the president and the effective date is currently unknown. The Bill provides for: amending section 5(d) of the Deep Offshore and Inland Basin Production Sharing Contracts Act, which provides for applicable royalty rates for petroleum companies operating in the deep offshore and inland basin areas. the introduction of a 3% royalty rate on production-sharing contracts operating in areas exceeding 1000 metres in depth. Property Mortgage Institutions (Amendment) Act, 2016 Assented to by the president in February 2017 and came into effect in February The Act provides for an increase in the penalties applicable to offences under the Mortgage Institutions Act, including the provision of mortgage services without a licence, failing to comply with the provisions of a licence, submitting returns to the Federal Mortgage Bank or publishing a balance sheet and loss and profit account.

11 Rwanda Capital Markets Authority Bill Passed by parliament in April 2017; not yet gazetted as an Act. The Bill provides for: establishing the Capital Markets Authority ( CMA ) and determines its mission, organisation and functions repealing the current law governing CMA. Rwanda, Morocco Double Taxation Bill Passed by parliament on 4 May 2017; not yet gazetted as an Act. The Bill approves bilateral agreements between Rwanda and Morocco, signed in Kigali on 19 October Regulation on Liquidity Requirements for Banks Gazetted on 19 May 2017, but provides for a six-month and oneyear moratorium to comply with the Liquidity Coverage Ratio and the Net Stable Funding Ratio requirements. The regulation establishes: prudential requirements to ensure sufficient liquidity for banks and promoting short-, medium- to long-term funds to finance banks assets an obligation to implement liquidity risk management frameworks. Regulation on Capital Requirements for Banks Gazetted on 19 May 2017, but a moratorium of six months is provided starting from the date of publication in the official Gazette. The Regulation establishes: a two-tier capital requirement for banks, both on a solo and consolidated basis: core capital (tier 1) and supplementary capital (tier 2) a requirement that banks have a capital conservation buffer of 2.5% of the total risk-weighted assets to enable them to withstand future periods of stress without breaching minimum capital ratios a prohibition to distribute dividends if total capital requirements are not met. Law establishing the levy on imported goods for financing African Union activities Gazetted on 15 May 2017 and came into effect on the same day. The law introduces a levy of 0.2% on the customs value on imported goods for financing African Union activities. The levies are to be collected at the customs point in accordance with the customs legislation and deposited into an account intended for that purpose, opened with the National Bank of Rwanda.

12 Rwanda Information and communication technology Cyber Security Bill Passed by Parliament in April 2017; not yet gazetted as an Act. The Bill provides for: establishing the National Cyber Security Authority and determines its responsibilities, organisation and functioning the Authority launching cyber attacks at any threat.

13 Tanzania The Written Laws (Miscellaneous Amendments) Act, 2017 Passed by Parliament on 1 February 2017 and gazetted on 3 March The Bill, 2017 Passed on 22 June 2017 but not yet gazetted as an Act. The amendments came into operation on 1 July Legal The Legal Aid Act, 2017 Passed by Parliament on 31 January 2017 and gazetted on 3 March 2017, following enactment by the president on 21 February The Act provides for amendments to the: Government Loans, Guarantees and Grants Act (Cap.134) Higher Education Students Loans Board Act (Cap. 178) Income Tax (Cap. 332) Land Act (Cap.113) Road and Fuel Tolls Act (Cap. 220) Sugar Industry Act (Cap.251) Wildlife Conservation Act (Cap. 283). The Bill seeks to impose and alter certain taxes, duties, levies, fees and to amend certain written laws relating to the collection and management of public revenue. The Act: repeals the Legal Aid (Criminal Proceedings) Act regulates and coordinates the provision of legal aid services to indigent persons while also recognising paralegals. This Act shall apply to Mainland Tanzania.

14 Uganda The Excise Duty (Amendment) Act, 2017 The Income Tax (Amendment) (No.2) Act, 2017 Gazetted on 30 March 2017 and commened on 1 July Gazetted on 30 March 2017 and commenced on 1 July The Bill, 2016 Passed by Parliament on 14 April 2017; not yet gazetted as an Act. The Act: amends the Excise Duty Act, 2014, revising the rates of certain duties specified in schedule 2 to the Act provides for the removal of excise duty on sugar confectionaries and locally manufactured furniture and related matters. The Act amends the Income Tax Act (Cap 340), providing for: exemption from income tax on income accrued to a body established by an Act of Parliament to regulate the conduct of professionals exemption from tax of the income of the Bujagali Hydro Power Project up to the year 2033 deduction of an initial allowance for certain capital investments outside a radius of 50km from Kampala transactions between associates to reflect the chargeable income realised in an arm s length transaction empowering the finance minister to issue estimates of rent for the purposes of assessing rental tax withholding tax on winnings of sports betting or pool betting advance taxing in respect of specified transport services a limit on the interest payable on unpaid tax amending the formula for assessing the value of the benefit of vehicles provided to an employee wholly or partly for a private purpose and for other related matters. The Bill provides for the amendment of fiscal and tax measures.

15 Uganda Value Added Tax (Amendment) Act, 2017 Gazetted on 30 March 2017 and commenced on 1 July The Act amends the Value Added Tax Act (Cap 349), providing for: exempting aid-funded projects from paying Value Added Tax ( VAT ) operations under which VAT is deemed to have been paid in respect of petroleum operations and aid-funded projects capping of interest on unpaid tax exempting from VAT crop-extension services, animal feeds and premixes, deep cycle batteries and composite lanterns, irrigation works, sprinklers, and ready-to-use drip lines, tourist arrangement services, access to tourist sites, tour guides, and game driving services and menstrual cups. The Insurance Act, 2017 Gazetted on 15 April The Minister has not passed the statutory instrument for the commencement date. The Act provides for: repealing the Insurance Act (Cap 213) regulation of insurance businesses the continuation and existence of the Insurance Regulatory Authority as the body responsible for regulation of insurance businesses. Tax Code Procedures Act, 2017 Gazetted on 30 March 2017 and commenced on 1 July The Act amends the Tax Code Procedures Act, 2014, providing for: provisional tax estimates to be furnished after every three months due dates for filing returns under the Lotteries and Gaming Act penalties for failure to provide documents in respect of transfer pricing.

16 Uganda The Anti-money Laundering (Amendment) Bill, 2016 Passed by Parliament on 15 March 2017; not yet gazetted as an Act. The finance minister has not passed the statutory instrument for the commencement date. The Bill provides for: amending the Anti-money Laundering Act, 2013 to harmonise definitions used in the Act the carrying out of risk assessments by accountable persons the identification of customers and clients of accountable persons procedures relating to suspicious transactions harmonising record-keeping requirements and exchange of information obligations with international practice. Information and communication technology The Uganda Communications (Amendment) Bill, 2016 Passed by Parliament on 6 April 2017; not yet gazetted as an Act. The minister of information and communications technology has not passed the statutory instrument for the commencement date. The Bill amends section 93(1) of the Uganda Communications Act, 2013 to remove the requirement of Parliamentary approval of regulations made by the minister under the Act. Trade The Common Market for Eastern and Southern Africa Treaty Implementation Act, 2016 Gazetted on 8 April The minister of trade, industry and cooperatives has not passed the statutory instrument for the commencement date. The Act gives the force of law in Uganda to the treaty establishing the common market for the Eastern and Southern Africa and legal personality to the common market. Although ratified, the treaty has not been domesticated. The Act also provides for: the financial provision consequential upon Uganda s membership of the common market giving the force of law to subsequent amendments to the treaty.

17 Zambia Agriculture The Agricultural Institute of Zambia Act, 2 of 2017 Assented to on 12 April 2017 and was enacted on 13 April, 2017 by Parliament. To come into operation on the date appointed by the minister of agriculture and livestock by statutory instrument. The Act provides for the establishment of the Agricultural Institute of Zambia responsible for: registration of agricultural professionals and regulation of their professional conduct undertaking research in agricultural policy-related issues investigating allegations of professional misconduct and imposing necessary sanctions advising government on matters relating to the agricultural profession promoting alternative dispute resolution mechanisms for disputes in the agricultural profession collaborating with private and state institutions on matters relating to the agricultural profession. The National Technical Regulation Act, 5 of 2017 Assented to on 12 April 2017 and was enacted on 13 April, 2017 by Parliament. To come into operation on the date appointed by the Minister by Statutory Instrument. The Act provides for: establishing the Department of Technical Regulation in the Ministry responsible for trade development and implementation of technical regulation for public safety and health, consumer protection and environmental protection the principles of, and a framework for, technical regulation that are compliant with best practice and regional and international obligations to which Zambia is a party. The Compulsory Standards Act No. 3 of 2017 Assented to 12 April 2017 and was enacted on 13 April, 2017 by Parliament. To come into operation on the date appointed by the Minister by Statutory Instrument. The Act provides for: establishing the Zambia Compulsory Standards Agency the administration and maintenance of compulsory standards for the purpose of public safety and health, consumer protection and environmental protection certification of products or services by a manufacturer, merchant, distributor, importer or agent who intends to place or places a commodity, product or service onto the Zambian market.

18 Zambia The Standards Act, 4 of 2017 Assented to on 12 April 2017 and was enacted on 13 April, 2017 by Parliament. To come into operation on the date appointed by statutory instrument. The Act provides for: repealing and replacing the Standards Act, 1994 the continuous existence of the Zambia Bureau of Standards and redefining its powers and functions standardisation and quality assurance of products and services through the setting of national standards and provision of conformity assessment services for products and services. The Banking and Financial Services Act, 7 of 2017 Assented to on 12 April 2017 and was enacted on 13 April, 2017 by Parliament. To come into operation on the date appointed by the finance minister by Statutory Instrument. The Act repeals and replaces the Banking and Financial Services Act, 1994 and provides for: a licensing system for the conduct of banking and financial services businesses standards and corporate governance principles to be incorporated in the institutional systems and structures of banks and financial institutions, including: o the procedure relating to board meetings o reporting obligations of the board of directors o the duties and functions of the board of directors; and o guidelines on the conduct of directors, chief executive officers, chief financial offices and managers the right of the regulator (Bank of Zambia) to remove a shareholder if not a fit and proper person to continue holding shares in a financial services provider consolidating several Bank of Zambia circulars and statutory instruments by introducing an extended prudential regulation and supervisions segment regulations on anti-competitive activities and consumer protection.

19 Zambia Metrology The Metrology Act, 6 of 2017 Assented to on 12 April 2017 and was enacted on 13 April, 2017 by Parliament. To come into operation on the date appointed by Statutory Instrument. The Act repeals the Weights and Measures Act Chapter 403 of the Laws of Zambia and provides for: renaming the Zambia Weights and Measures Agency as the Zambia Metrology Agency and setting out its functions introducing control of measurements and measuring instruments introducing regulations for controlled pre-packaged commodities introducing the metrology fund.

20 Zimbabwe Insolvency Bill Gazetted on 14 April 2017 and has not yet signed into an Act. Reserve Bank of Zimbabwe Amendment Act, 2017 Gazetted on 23 March Came into effect on 31 October Act, 2017 First gazetted on 25 January 2017, with further amendments gazetted, and came into effect, on 23 March The effective date of most of the measures is 1 January Movable Property Security Interests Bill Passed on 16 May 2017 but not yet gazetted as an Act. The Bill provides for: the administration of insolvent and assigned estates and the consolidation of insolvency legislation in Zimbabwe; to repeal the Insolvency Act [Chapter 6:04] to provide for matters connected with or incidental to the foregoing. The Act introduces bond notes as a surrogate currency for trading purposes in Zimbabwe. The bond notes are legal tender and each unit of a bond note is exchangeable for one United States dollar. No separate customer accounts will be maintained for bond notes and settlement of trades executed on the Zimbabwe Stock Exchange will take place in USD through normal banking channels. The Act provides for the amendment of fiscal and tax measures, including the taxation in the hands of an individual of severance, rental income, pension payouts, employee fringe benefits and non-resident directors fees. The Bill provides for movable property to be used as security for the purpose of obtaining loans. A Collateral Registry is to be created to enable registration of security over movable property by receiving and storing the notices of the debtor or the creditor and registering them in respect of security interests.

21 Zimbabwe Securities (Debt Securities Levies) Rules, 2017 Gazetted on 12 May 2017 and came into effect on the same day. The Rules provides for: specified levies to be paid on every transaction in debt securities trading on the Zimbabwe Stock Exchange ( ZSE ), calculated on the value of the transaction and to be reflected on the dealer s note/broker s note. the levies to be collected by securities dealers/brokers and remitted by the collecting agent to the Securities Exchange Commission of Zimbabwe, the ZSE, the central securities depository, the securities dealers/brokers and the revenue authorities as appropriate. Justice Judicial Laws Amendment (Ease of Settling Commercial Disputes) Act Passed on 9 May 2017 and gazetted as an Act on 23 June The purpose of this Act is: to amend the High Court Act [Chapter 7:06], the Magistrates Courts Act [Chapter 7:10] and the Small Claims Courts Act [Chapter 7 :12] speeding up and otherwise facilitating the settlement of certain suits or actions, especially of a commercial nature increasing the financial jurisdiction of the Small Claims Court establishing a commercial court to reduce the time frames in resolution of commercial disputes.

22 Zimbabwe Public administration and procurement Public Procurement and Disposal of Public Assets Bill Published in the Gazette on 28 October 2016 and passed by Parliament on 4 April 2017 but not yet gazetted as an Act. The Bill repeals the Procurement Act and provides for: abolishing the State Procurement Board the establishment of a Procurement Regulatory Authority of Zimbabwe, which will not conduct procurement proceedings itself, but will oversee and regulate procurement activities conducted by government ministries, statutory bodies (parastatals) and local authorities introducing procedures to be followed and the steps to be taken in procurement proceedings to ensure fairness, transparency and honesty. Real estate The Deeds Registries Amendment Bill Passed on 9 May 2017 and gazetted as an Act on 23 June This Act provides for: amending the Deeds Registries Act [Chapter 20:05] ( the principal Act ) so as to restrict the execution of powers of attorney only to those witnessed and signed by a legal practitioner, notary public or justice of the peace in the presence of the person executing the Power of Attorney seeks to provide for the establishment of an electronic registry which will supplement the existing paper-based one. The intention is to expedite and facilitate the registration and administration of deeds. The information provided herein is intended to provide a general overview, and is not an exhaustive list of all legislative developments across Sub-Saharan Africa. For more information, please contact info@ensafrica.com.