Income Tax (Foreign Organisations) (Exemption and Approval) Order, 1999

2. With respect to the agreement described in the Schedule to this Order, the European Investment Bank is hereby approved for the purpose of exemption from tax. Approval of foreigi:i Organisation

3. The income and emoluments of the foreign organisation approved in paragraph 2 of this Order accruing under the agreement described in the Schedule to this Order shall be exempted from tax pursuant to sub-paragraph ( c) of paragraph 4 of Part II of the Second Schedule to the Act. Exemption from tax SCHEDULE (Paragraph 2) The Power Rehabilitation Project Victoria Falls Hydroelectric Power Station Subsidiary Loan Agreement between the Republic of Zambia and Zambia Electric• ity Supply Corporation Limited and the European Investment Bank for an amount not exceeding Sixteen Million ECUS (European Currency) for the Financing of the ZESCO Victoria Falls Project. LUSAKA 23rd March, 1999 [MFA. I 02/12/786] E. Z. NAWAKWI, Minister of Finance and Economic Development Copies of this Statutory Instrument can be obtained from the Government.Printer, P.O. Box 30136, 10101 Lusaka. Price K500 each. 90 Statutory Instruments 26th March, 1999