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*Biti, Ziyambi Ziyambi Clash Over Legality Of SI 142 Of 2019* *Follow Pindula on WhatsApp for daily new updates* https://whatsapp.com/channel/0029Va84dngJP21B2nWeyM3v?gy Former Finance Minister Tendai Biti said that Statutory Instrument 142 of 2019, which re-introduced the Zimbabwean Dollar and scrapped the multi-currency system, is illegal and a disaster to the country. Biti was speaking in Parliament on Tuesday after a ZANU MP had lauded Finance Minister Mthuli Ncube for bringing back the Zimbabwean Dollar. He said: ---------- itel A70 256GB $99USD WhatsApp: https://wa.me/+263715068543 Calls: 0772464000 ---------- > The SI 142 (2019) touches on our political economy, the economy of our country and the laws of our country. > Section 44(2) of the Reserve Bank of Zimbabwe Act, which introduced the multi-currency regime in 2009, makes it clear that the British pound, euro, South African rand and Botswana pula shall be legal tender, and section 44(a)(2) — it is an Act of Parliament means that the Finance minister cannot repeal that provision. > Quite clearly, SI 142 (2019) is ultra vires the provisions of section 44(a)(2) of the RBZ Act and it is wrong at law and on the economy. > As long as there is a deficit in your current account, I submit that we do not have a current account and reserves necessary to support our own currency. > A currency is a subject of political confidence and in this country, as far as I am concerned, there is kwashiorkor of political confidence and, therefore, I submit that SI 142 is a disaster. However, Justice Minister Ziyambi Ziyambi scoffed at Biti’s remarks saying that it was premature to say that SI 142 was a legal nullity. Said Ziyambi: > I would like to make a correction that all statutory instruments stand deferred to Parliament, which will scrutinise them through the Parliamentary Legal Committee (PLC). > If the PLC feels there is something wrong with the SI, they will issue an adverse report and then Parliament will debate it. > I am surprised because MPs are very much aware of the process and they want to debate it. An SI takes effect the moment it is published and I submit that it is very premature to start attacking it before it is scrutinised by the PLC. *More: Newsday* _If you found this article useful_ *Please support Pindula by forwarding to friends and groups*
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