Income Tax (Foreign Organisations) (Exemption Approval) Order, 1981

2. With respect to the Agreement described in the Schedule hereto, Bank of America National Trust and Savings Associa­ tion, Bank of America International Limited, and all other Banks named therein as signatories to such Agreement are hereby approved for the purpose of exemption from tax.

3. The income and emoluments of the foreign organisations approved in paragraph 2 of this Order accruing under the Agreement described in the Schedule hereto shall be exempt from tax pursuant to sub-paragraph (c) of paragraph 4 in Part II of the Second Schedule to the Act. Approval of foreign organisations Exemption from tax LUSAKA 27th March, 1981 [MF/SF.311] K. s. K. MusOKOTWANE, M ini.ster of Finance SCHEDULE (Paragraph 2) AGREEMENT The loan Agreement signed on 0th March, 1981, between the Bank of 'Zambia (as Borrower) and Bank of America. National Trust and Savings Association (a.a Agent), Ba.nit. of America lnternationnl Limited (as Manager) .and various other Banks which aro signatories thereto, for the sum of one hundred and fifty million United States dollars (US $160,000,000) which is o.pproximately equal to one hundred and eighteen million o.nd twenty thousand kwaoha (KllS,020,000). Copica of thUJ Statutory lnstrume.nt can be, obtaine.d from tM Government Prinur ' P.O. Box 30136, Lu8aka. Price 10n each. 120 Stalutory I nstrumen!s 27th March, 1981