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 ​​In October 2010 the CCBG  approved that the Legal Committee, be constituted as provided for under Annex 5 of the Finance and Investment Protocol (FIP) to include all SADC central banks. The Bank of Zambia chairs the Legal Committee.  In terms of the Legal Annex, the Legal Committee is charged with the following responsibilities:
(a)        to review and monitor the progress of the harmonisation of the legal and operational frameworks of central banks, including the decision making instruments to be developed to achieve harmonisation;
(b)        to encourage the adoption of model acts including drafting agreements to achieve harmonisation;
(c)        to consider and recommend amendments to relevant legislation;
(d)        to make recommendations to central banks in relation to matters arising from the implementation of the Legal Annex; and
(e)        to carry out any other tasks that may be assigned to it by the CCBG.
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