Local Government: Municipal Systems Act, 2000 (Act No. 32 of 2000)

Chapter 8A : Municipal Entities

Part 2 : Private companies

86F. Conditions precedent for co-owning of private companies
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If two or more municipalities intend to establish a private company or to acquire interests in the same private company, each of those municipalities must—

(a) comply with section 86E;
(b) consider and reach agreement on proposals for shared control of the company; and
(c) consider cash flow projections of the company's proposed operations for at least three financial years.

 

[Section 86F inserted by section 18 of Act No. 44 of 2003]