Land and Agricultural Development Bank Act, 2002 (Act No. 15 of 2002)

RECOGNISING THAT racially discriminatory practices and laws of the past and apartheid deprived historically disadvantaged people of land resulting in their exclusion from the agricultural sector and racially skewed patterns of ownership  of land in South Africa;

IN ORDER TO effect a change in the patterns of land ownership by promoting greater participation in the agricultural sector by historically disadvantaged persons and an increase in ownership of agricultural land by such persons through the provision of appropriate financial services;

IN ORDER TO promote sustainable agrarian reform and development of agricultural resources;

IN ORDER TO strengthen existing agricultural financial services; and

IN ORDER TO promote a competitive and profitable agricultural sector.

BE IT ENACTED by the Parliament of the Republic of South Africa, as follows:—