Two bills await Mugabe's assent

HARARE - Two bills have been received by President Robert Mugabe for them to be signed into law.

Speaker of the National Assembly Jacob Mudenda gave notice in the Government Gazette yesterday that the Movable Property Security Interests Bill and Public Procurement and Disposal of Public Assets Bill were at the final stage of examination before becoming law.

The Movable Property Security Interests Bill seeks to provide for movable property to be used as security for the purpose of obtaining loans.

The movable property or asset will include any tangible property such as motor vehicles, jewellery, equipment and machinery, household goods and livestock among others.

The Bill will enable borrowers and lenders to recognise movable assets as collateral thereby supporting credit financing secured with such assets.

The Public Procurement and Disposal of Public Assets Bill seek to repeal the Procurement Act and abolish the State Procurement Board.

In place of the board, it will set up a new body to be called the Procurement Regulatory Authority of Zimbabwe which will not conduct procurement proceedings but will instead oversee and regulate procurement activities conducted by government ministries, parastatals and local authorities.

“In terms of section 131 (5)(b) of the Constitution of Zimbabwe, it is hereby notified that on July 5, 2017, the Movable Property Security Interests Bill, 2016, was transmitted to His Excellency, the president of the Republic of Zimbabwe, for his assent and signature,” Mudenda said in the Government Gazette.

““In terms of section 131 (5)(b) of the Constitution of Zimbabwe, it is hereby notified that on the 5 July, 2017, the Public Procurement and Disposal of Public Assets Bill, 2016, was transmitted to His Excellency, the president of the Republic of Zimbabwe, for his assent and signature.”

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