Development Bank of Southern Africa Act, 1997 (Act No. 13 of 1997)RegulationsRegulations made under Section 17Form of contracts118. Contracts of the Bank |
| (a) | The validity of contracts concluded on behalf of the Bank shall be determined in accordance with the principles applicable to companies incorporated in terms of the Companies Act, on the basis that the Bank has been incorporated as a company incorporated in terms of the Companies Act. |
| (b) | Without derogating from the generality of the provisions of regulation 118(a), the question whether any contract purported to have been entered into on behalf of the Bank was in fact duly authorised shall be determined in accordance with principles applicable to companies incorporated in terms of the Companies Act, on the basis that the Bank has been incorporated as a company incorporated in terms of the Companies Act. |