Companies Act, 2008 (Act No. 71 of 2008)

Schedules

Schedule 5 : Transitional Arrangements

1. Interpretation
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(1)In this Schedule—
(a)"general effective date" means the date on which section 1 of this Act came into operation; and
(b)"previous Act" means the Companies Act, 1973 (Act No. 61 of 1973).

 

(2)A reference in this Schedule—
(a)to a section by number, is a reference to the corresponding section of—
(i)the previous Act, if the number is followed by the words "of the previous Act"; or
(ii)this Act, in any other case; or
(b)to an item or a subitem by number is a reference to the corresponding item or subitem of this Schedule.

 

(3)Despite any other provision of this Act—
(a)the Minister, by notice in the Gazette, may determine a date on which the Commission may assume the exercise of any particular function or power assigned to it in terms of this Act; and
(b)until a date determined by the Minister in terms of paragraph (a)—
(i)the Commission may not perform that particular function or exercise that particular power; and
(ii)the Minister has the authority to, and bears the responsibility of, exercising any such function or performing any such power assigned by this Act to the Commission.