Cabinet approves Bank of Zambia Repeal Bill
Etambuyu Katota-Cabinet has approved publication and introduction of the Bank of Zambia Repeal Bill, 2022 in the National Assembly during the current sitting.
This follows the 5th Cabinet Meeting held on Tuesday, March 15, and Chaired by President HAKAINDE HICHILEMA to deliberate on policy and legislative matters aimed at general National development of the country.
Chief Government Spokesperson CHUSHI KASANDA says the objective of the Bill among others, is to repeal and replace the Bank of Zambia Act, Chapter 360 of the Laws of Zambia in order to provide for the additional functions, operations and management of the C
ntral Bank.
Ms. KASANDA says it will also provide the composition of the Board of Directors of the Bank of Zambia and their functions and provide for the establishment of the Monetary Policy Committee and the Financial Stability Committee and provide for their function
She says Cabinet has also approved for publication and introduction in the National Assembly during the current sitting, “The Judges Conditions of Service Amendment Bill 2022.”
Ms. KASANDA says among others the Bill seeks to amend the Judges conditions of Service Act Number 14 of 1996, in order to ensure they are done within the framework of the Emoluments Commission.
She says this follows the decision by Cabinet at its 2nd Special Meeting held on February, 15 2022, where the Emoluments Commission Bill, 2022 was approved for publication and introduction in Parliament.
Ms. KASANDA says the Emoluments Commission Bill, 2022, aims to operationalise Article 232 of the Constitution of Zambia and further ensure a consistent, comprehensive and systematic approach to the determination of emoluments for Chiefs and officers in stat
organs and state institutions.
And Cabinet deliberated on the preparations for a befitting funeral service for the Late Fourth President of Zambia RUPIAH BANDA who died on March 11, 2022, to be put to rest on Friday, March 18, 2022.
Government has accorded a 7 day National mourning in honour of the Late Fourth President and hosting a State Funeral today at which Foreign Dignitaries are in attendance.
Ms. KASANDA in a statement to ZNBC news said a restricted State Funeral Church Service will be hosted tomorrow at the Anglican Cathedral of the Holy Cross; and burial of the late former President will be at the Presidential Burial Site after the Church Serv
ce.
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