Development Bank of Southern Africa Act, 1997 (Act No. 13 of 1997)18. Transitional arrangements |
Notwithstanding anything to the contrary contained in section 7 —
| (a) | the shareholders of the Bank shall not later than six months after the effective date hold a meeting for the purpose of appointing a new board of directors of the Bank; |
| (b) | unless a director is reappointed at the meeting referred to in paragraph (a), every director of DBSA (1983) shall cease to hold his or her office six months after the effective date or upon the appointment of a successor at that meeting, whichever occurs earlier, |
and the provisions of section 11 shall apply mutatis mutandis to the convening and conduct of that meeting of shareholders and the appointment of directors at that meeting.