Investment, Trade and Business Development (Amendment) Act No. 3 of 2024

1. This Act may be cited as the Investment, Trade and Business Short title Development (Amendment) Act, 2024, and shall be read as one with the Investment, Trade and Business Development Act, 2022, Act No. 18 of 2022 in this Act referred to as the principal Act.

2. Section 2 of the principal Act is amended by — Amendment of section 2 (a) the deletion of the definition of “rural area”; and (b) the insertion of the following new definition in the appropriate place: “expansion project’’ means a planned initiative for the purposes of increasing the size, capacity, scope or reach of business operations facilities or infrastructure;.

3. Section 30 of the principal Act is amended by the deletion Amendment of subsection (1) and the substitution therefor of the following: of section 30 (1) An investor shall be eligible for incentives under this Act if that investor invests in a new project or expansion project in a special economic zone, priority sector, rural area or farm block. Single copies of this Act may be obtained from the Government Printer, P.O. Box 30136, 10101 Lusaka, Price K4.00 each. 48