Zambia Development Agency (Amendment) Act, 2012 (No. 15 of 2012)

1. This Act may be cited as the Zambia Development Agency Short title (Amendment)Act, 2012, and shall be read as one with the Zambia Act No. 11 Development Agency Act, 2006, in this Act referred to as the of 2006 principal Act.

2. Section seventeen of the principal Act is amended by- Amendment of section 17 (a) the insertion of the figure "(I)" between the number "17" and the word "The"; and (b) the insertion, immediately after subsection (1), of the following new subsections: (2) The Board may enter into an investment protection and promotion agreement with an investor in which the Board and the investor shall agree on development and investment matters provided for under this Act. (3) The provisions of an investment protection and promotion agreement shall include a detailed schedule in relation to- (a) employment creation, local business development and an undertaking to complete the necessary environmental impact assessment required by the Zambia Environmental Management Agency, where applicable; (b) the financial progression of a proposed project; and (c) any other relevant information on investment as may be prescribed. Single Copies of this Act can be obtained from the Government Printer, PO. Box 30136, /0101 Lusaka, Price K2,000 each 238 No. 15 of 2012) Zambia Development Agency (Amendment) Repeal and 3. The principal Act is amended by the repeal of section sixty- replacement of section 69 nine and the substitution therefor of the following: Consideration 69. (1) The Board shall, in considering an application of application for a licence, permit or certificate ofregi~tration under section for licence, sixty-eight and for purposes of determining entitlement to an permit or certificate of incentive under section fifty-nine, have regard to- registration (a) the need to promote economic development and growth in Zambia; (b) the extent to which the proposed investment will lead to the creation of ernployment opportunities and the development of human resources; (c) the applicant's pledge for employment creation and training of citizens of Zambia; (d) the degree to which the project is export-oriented; (e) the impact the proposed investment is likely to have on the environment and, where necessary, the measures proposed to deal with an adverse Act No. 12 environmental impact in accordance with the of Environmental Management Act, 2011; 2011 (j) the possibility of the transfer of technology; and (g) any other considerations that the Board considers appropriate. (2) Where the Board, in considering an investor's entitlement to an incentive, determines from the investor's pledge of employment creation and training for citizens of Zambia made under subsection (I) that the investor shall create employment for citizens of Zambia as may be prescribed, the Board shall recommend to the Commissioner- General that tax incentives be granted to the investor under Cap. 323 the Income Tax Act or the Customs and Excise Act. Cap. 322 (3) Where an investor fails or neglects to create the employment and training for citizens of Zambia in a particular year according to the pledge submitted under subsection (I), the Commissioner-General shall suspend or withdraw the tax Cap. 322 incentives granted to the investor under the Income Tax Act Cap. 323 or Customs and Excise Act for that year on such terms and conditions as the Commissioner-General may specify. Zambia Development Agency [No. 15 of 2012 239 (Amendment)

4. The principal Act is amended by the deletion of subsection Amendment of section 82 (3) of section eighty-two and the substitution therefor of the following subsection: (3) The Minister may, by Statutory Instrument, after consultation with the Minister responsible for finance, amend the Second Schedule to this Act. 240