Conversion of South African Special Risks Insurance Association Act, 1998 (Act No. 134 of 1998)6. Minister's rights and duties |
| 1) | The Minister exercises the rights and performs the duties of the State as member of, and shareholder in, the Company. |
| 2) | While the State is the sole member of, and sole shareholder in, the Company, the Minister may, after consultation with the short-term insurance industry- |
| a) | alter the memorandum and articles of association of the Company, subject to subsection (3); |
| b) | appoint the board of directors of the Company; and |
| c) | do anything necessary to give effect to the conversion of SASRIA into a public company and to restructure the Company. |
| 3) | The Minister may not alter the Company's main business of carrying on short-term insurance for special risks other than to that of short-term reinsurance for special risks. |