June 2005 - Note on the corporatisation of the Public Investment Commissioners
N Gumata and M Magadze
Last Modified Date:
2020-10-01, 09:31 PM
Quarterly Bulletins > Articles and Notes
The Public Investment Corporation Act came into effect on 1 April 2005, replacing the 1984 Public Investment Commissioners Act. The Act converted the Public Investment Commissioners (PIC) into a statutory body, owned solely by government, which is to function as a non-bank provider of financial services. The institution will be subject to the Financial Advisory and Intermediary Services Act and will be governed by the Companies Act.