Chengetedzai Depository Company Limited v Securities and Exchange Commission of Zimbabwe and Zimbabwe Stock Exchange Limited and Minister of Finance and Economic Development

Key Issues

• {"issue_text":"Whether SECZ acted ultra vires by issuing the directive under section 4 instead of section 118","issue_type":"law","dispositive":"no","related_facts":"Directive issued under section 4 read with Schedule 1 paragraph 21"}
• {"issue_text":"Whether the directive violated property rights under section 71(2) of the Constitution","issue_type":"constitutional","dispositive":"no","related_facts":"Directive facilitated migration of securities between depositories"}
• {"issue_text":"Whether procedural fairness was observed in issuing the directive","issue_type":"procedural","dispositive":"yes","related_facts":"Limited consultation with stakeholders"}
• {"issue_text":"Whether CDC had locus standi to champion rights of third parties","issue_type":"procedural","dispositive":"no","related_facts":"CDC sought to represent stakeholders and injured parties"}

Background