Mines and Minerals (Amendment) Act, 1998 (No. 8 of 1998)

1. (1) This Act may be cited as the Mines and Minerals (Amendment) Act, 1998, and shall be read as one with the Mines and n Minerals Act, in this Act referred to as the principal Act. (2) This Act shall come into operation on the 1st April, 1998.

2. Section sixty-six of the principal Act is amended in subsection (1) by the deletion of the words" at the rate of three per C centum" and the substitution therefore of " at the rate of two per, centum"

3. The Third Schedule to the principal Act is amended in, paragraph 5 by the deletion of the proviso to sub-paragraph (1) and: the substitution therefore of tile following: Provided that- (i) The amount of tax which would otherwise be payable by such person in that charge year is not reduced by more than twenty per centum as a result of this deduction; (ii) Item (i) of this proviso shall not apply to any former Zambia Consolidated Copper Mining Company; and (iii) in this proviso" former Zambia Consolidated Copper Mining Company" means any part or division of the Zambia Consolidated Copper Mining Company sold under the Privatization Act.