The Laws of Zambia 2. On the commencement of this Act, the company shall be deemed to be the holder of an operator's licence which shall, subject to this Act, remain in force for such period as the Minister may by statutory instrument prescribe. Compa deeme hold licence 3. Every telecommunication line or cable that, immediately before the commencement of this Act, was placed under, over, along, across, in or upon any land for the purposes of a telecommunication system then established shall, to the extent that its placement complied with the Act of 1987, be deemed to be placed in compliance with this Act. Existing lines an cables 4. (1) The Minister may from time to time, by statutory instrument- Vesting assets transfe liabilitie Cap. 38 (a) identify any part of the undertaking of the Company (not being any part of its postal service undertaking or its telecommunication undertaking); (b) identify any liabilities or obligations of the Company that, in the opinion of the Minister, subsist in relation to that part of its undertaking; and (c) declare that, on and from a date specified in the instrument, all property and rights of the company in connection with that part of its undertaking, and all liabilities and obligations subsisting in relation thereto, shall be transferred to, and shall vest in or subsist against, a company formed in accordance with subparagraph (2); and thereupon, by virtue of the statutory instrument and without further assurance, all such property, rights, liabilities and obligations shall be transferred accordingly. (2) The Minister responsible for Finance may form one or more companies having share capital (in this Schedule called "transferee companies") under the Companies Act, or any Act amending or replacing that Act, whose first members shall be the Minister responsible for Finance and the Republic and whose shares shall be held originally in the name of the Republic, for the purpose of holding a part of the undertaking of the Company transferred by statutory instrument under this paragraph and, if the Minister responsible for finance thinks fit, for the purpose of carrying on that part of the Company's undertaking thereby transferred. (3) Every deed, bond or agreement (other than an agreement for personal services) to which the Company was a party immediately before a statutory instrument takes effect under subparagraph (1), whether in writing or not, and whether or not of such a nature that rights, liabilities and obligations thereunder could be assigned, shall, if it related to any undertaking, property or right affected by the instrument, have effect as from the date of the assignment thereof, as if(a) the transferee company had been a party thereto; (b) for any reference to the Company there were substituted, as respects anything falling to be done after the statutory instrument takes effect, a reference to the transferee company; and (c) for any reference to any other officer or employee of the Company not being a party thereto and beneficially interested therein there were substituted, as respects anything falling to be done after the statutory instrument takes effect, a reference to such officer of the transferee company as that Minister shall designate. 5. (1) Where(a) under this Schedule any part of the undertaking of the Company, and any associated property, rights, liabilities or obligations of the Company are transferred; and (b) in respect of the transfer, any written law provides for registration; the Company shall make application in writing to the appropriate registration authority for the registration of the transfer. (2) The relevant registration authority shall make such amendments to the appropriate register, cancel such documents and do and attend to such other matters and things as seem to him necessary to give effect to or record the transfer and, where appropriate, shall(a) and issue to the transferee company a certificate of title in respect of any property or rights affected by the transfer; (b) on presentation thereof, make such endorsements as seem to him proper to be made on any deeds, documents or records relating to the title, right, liability or obligation concerned. (3) In default of compliance by the Company with subparagraph (1), or in default of such compliance within a reasonable time, the powers conferred by subparagraph (2) on a registration authority may be exercised by that registration authority of his own motion. (4) No registration fee, stamp duty or other duties shall be payable in respect of any transfer effected pursuant to this Schedule or any thing done, made or issued in pursuance of this paragraph. Copyright Ministry of Legal Affairs, Government of the Republic of Zambia Registr propert transfe Compa