THE CITIZENS ECONOMIC EMPOWERMENT (TRANSPORTATION OF HEAVY AND BULK COMMODITIES BY ROAD) (RESERVATION) REGULATIONS, 2021 Hot
05 May 2021
The Citizens Economic Empowerment (Transportation of Heavy and Bulk Commodities by Road) (Reservation) Regulations, 2021.
The President of the Republic of Zambia, His Excellency Dr. Edgar Chagwa Lungu, signed the Citizens Economic Empowerment (Transportation of Heavy and Bulk Commodities by Road) (Reservation) Regulations, 2021 (the “Reservation Regulations”) on 30 April 2021, pursuant to section 21 of the Citizens Economic Empowerment Act No. 9 of 2006 (the “CEEA”).
Section 21 of the CEEA empowers the President, via Statutory Instrument, to reserve specific areas of commerce, trade, and industry for targeted citizens, citizen empowered companies, citizen influenced companies and citizen owned companies. To the best of our knowledge, the Reservation Regulations are yet to come into force as they have not been published in the Gazette.