ARRANGEMENT OF SECTIONS
1. Short title
3. Agreement of re-insurance
4. Financial arrangements
5. Advisory committees
6. Administration of Act
7. Delegation of powers of Minister
8. Offences and penalties
Act 12, 1997.
An Act to make provision for the promotion of trade with countries outside Botswana by providing for the re-insurance, with the Government, of insurance contracts in connection with export transactions and loans or similar facilities connected with such transactions.
[Date of Commencement: 18th July, 1997]
This Act may be cited as the Export Credit Re-Insurance Act.
In this Act, unless the context otherwise requires-
"contract of re-insurance" means a contract of re-insurance entered into in terms of an agreement referred to in section 3;
"foreign country" means any country, other than Botswana;
"Fund" means the Export Credit Re-insurance Fund established under section 4;
"Minister" means the Minister responsible for commerce and industry;
"person" includes any Government agency or semi-Government agency;
"trade with foreign countries" or "trade with a foreign country" includes any transaction (including a transaction for the rendering of a service) involving a consideration in money or money's worth accruing from a person in the course of carrying on business or other activities outside Botswana to a person carrying on business in Botswana and any consignment of goods to a person carrying on business or other activities outside Botswana with a view to such a transaction.
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