| (1) | In the event that the functions of a national institute for higher education, as contemplated in section 49L, have become obsolete or, in the view of the Minister, could be performed effectively and efficiently otherwise, the Minister may, after consultation with the CHE and by notice in the Gazette, disestablish any national institute for higher education. |
| (2) | Before making a decision under subsection (1), the Minister must— |
| (a) | give notice to the board of the national institute for higher education concerned of the intention to disestablish such national institute for higher education; |
| (b) | provide the board with the reasons for the disestablishment; |
| (c) | give the board a reasonable opportunity to make representations; and |
| (d) | consider the representations contemplated in paragraph (c). |
| (3) | In the event that a national institute for higher education is disestablished in accordance with subsection (1), all assets and liabilities of such national institute for higher education must be dealt with by the Minister according to law and any assets remaining after payment of all liabilities vest in the Minister. |
| (4) | The Minister may appoint a person on the terms of reference specified by the Minister to administer the closure of the national institute concerned. |
[Section 49W inserted by section 29 of Notice No. 21, GG 40548, dated 17 January 2017]
