Zambia
Central African Civil Air Transport Act, 1964
Chapter 451
- Commenced on 1 January 1964
- [This is the version of this document at 31 December 1996.]
Part I – Preliminary
1. Short title
This Act may be cited as the Central African Civil Air Transport Act.2. Interpretation
Part II – Financial provisions
3. Conduct of financial affairs of Corporation and subsidiaries
It shall be the object of the Corporation so to perform its functions as to ensure that all its revenues, together with those of all its subsidiaries, are not less than sufficient to meet all its outgoings, together with those of all its subsidiaries, properly chargeable to revenue account, taking one year with another; and in general the Corporation and its subsidiaries shall conduct their business on sound commercial lines.4. Charges to revenue account of Corporation
5. Establishment and operation of general reserve and capital reserve of Corporation
6. Budget of revenue and expenditure
The Corporation shall send to the Higher Authority for its information—7. Meeting of deficiencies
8. Budget of capital expenditure
9. Government to supply additional capital
In the event of the Higher Authority calling upon the Government to contribute any additional capital to the Corporation, such amount shall be provided by the Minister out of moneys appropriated for the purpose by Parliament.[As amended by G.N. No. 301 of 1964]10. Borrowing
Neither the Corporation nor its subsidiaries shall, without the prior approval of the Higher Authority, borrow otherwise than by bank overdraft for temporary accommodation.11. Annual report
The Corporation shall, as soon as is practicable, and in any case not later than six months, after the termination of each financial year, submit an annual report to the Higher Authority on the activities of the Corporation and its subsidiaries. Such report shall include the balance sheet, the revenue and expenditure account and the annual report of the auditor, relating to the Corporation and each subsidiary.12. Long-term plans of Corporation and subsidiaries
The Corporation may, whenever the Corporation considers it expedient to do so, and shall, whenever the Higher Authority requires the Corporation to do so—13. New air transport services
14. Exemption from taxes
The Corporation and any subsidiary shall be exempt from any tax on income or profits.15. Accounts of Corporation
The Corporation shall keep proper books of account and other records in relation thereto and to all its air transport services, aerial work, operations and property.16. Appointment of auditors and audit of Corporation's accounts
17. Duties of auditors
It shall be the duty of the auditors to certify not less than once in each financial year whether or not—Part III – Functions of Corporation
18. Functions of Corporation
In addition to those specified in the Order in Council, the functions of the Corporation shall, subject to the provisions of this Act, be to—19. Subsidiaries
20. Powers of Corporation
The Corporation shall, subject to the provisions of this Act, have power to do all or any of the things specified in the Schedule either absolutely or conditionally and either solely or jointly with others.21. By-laws of Corporation
22. Reports of Corporation
In addition to the annual report mentioned in section eleven, the Corporation—Part IV – Miscellaneous provisions
23. Restriction on use of name of Corporation
No person shall, on or after the commencement of this Act, assume for the purposes of business, or be registered in terms of the Companies Act, under—24. Proceedings on non-compliance by Corporation
History of this document
31 December 1996 this version
Consolidation
01 January 1964
Commenced