Mines and Minerals (Amendment) Act, 1999

2. Section sixry-.,·ix of the principal Act is amended by the deletion of subsections (I) and (2) and the substitution therefor of the following subsections: ( Ii The holder of a large-scale mining licence shall in accordance with the licence, this Act and the tenns of anv relevant devdopment agreement, pay to the Republic. a royalty on the gross value of minerals produced under the licence at the rate of two per centum. (2) In this section- ·• gro�s value,., means the realised price for a sale free­ on-board. at the point of export from Zambia or point of delivery within Zambia: Provided that if the Minister considen: that the realised priee does not corr,spond to the price that would have been paid for the minerals if they had been sold on similar terms in a transaction, at arm, length. between a willing seller and a willing buyer. a noti<c may be given to that effect to 1he licensee: and lhe amount of the market value shall be deter­ min-ed in accordance with mechanism contained in sections ni11ety-se,•e11 A lo ninery-seven D of the Income Tax Act.

3. The principal Act is amended by the repeal of the Third Schedule. Enactrr.: Short:iu Cl.,m:nc:·· ment Cap.: i.' Amend:-·-- ur" !-ie.::�c 66 C �- . ",, '' ,, I'"' : I I 'I' 1 ·, \ L · I '' I ' ,, ,1 ;1 '' 'ij J, I \� ',' ' ' I' : ;1 :\ : , l i ,, ' ,: l '' ' ' l ! ·: ji' '' ' ,, !' '' 1,. l 1· •1 J 1 11 \I ' ! '· I '' (' ,, ,, 1 ' I i ,, ,, :( I . i 'if I ' ,, ,, l I '·q1.' "I ' ,, I ;l;, i ! ' � . ' ,; i, ' I' t1 l I I' , I l1 I l , ( '• l- 1 •' I' ... .-•• • .. 1' ·:·.·:·. Single cr,pies of rids Ace ma_,. l1e obtaincdfr,un tlte Gnvernmenl J'ri, ... P.O. Box 31)/36, 10/01 Lusaka. Price K500 each.- I I ., I f, Wfr5MW-S♦ AAW&f¥t}if 4iM!i#KWA