Securitisation Comparative Guide

1 Legal and regulatory framework

1.1 Which laws typically govern securitisations in your jurisdiction?

• Banking Act (Chapter 24:20): Under the Banking Act, the Reserve Bank of Zimbabwe (RBZ) is tasked with the supervision of all banking and other financial institutions. As part of this regulatory function, it issues guidelines from time to time which are binding and enforceable on regulated entities. RBZ Guideline 01-2007BSD: Special Purpose Vehicles, Securitisation and Structured Finance, issued under Section 45 of the Banking Act, applies to all banking and non-banking financial institutions involved in SPVs, securitisation and structured finance transactions.
• Collective Investment Schemes Act (Chapter 24:19): The Collective Investment Schemes Act regulates and controls the promotion and operation of collective investment schemes in Zimbabwe. It defines a 'scheme' to cover any arrangement where property of any sort is pooled and managed by someone other than