Conversion of South African Special Risks Insurance Association Act, 1998 (Act No. 134 of 1998)

2. Purpose of Act
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The purpose of this Act is-

a)to convert SASRIA into a Public company, having a share capital. as described in section 19 of the Companies Act, with the shares to be held by the State;
b)to provide flexibility regarding the future restructuring of the Company by entitling the Minister to dispose of all or any of the State's shareholding in the Company; and
c)generally, to ensure the orderly restructuring of the State's role in the short-term insurance industry as regards special risks and to reduce the State's risk exposure.