Local Government: Municipal Systems Act, 2000 (Act No. 32 of 2000)Chapter 8A : Municipal EntitiesPart 2 : Private companies86G. Disposal of companies and equity interests in companies |
A municipality may transfer ownership or otherwise dispose of—
| (a) | a wholly owned private company, subject to the Municipal Finance Management Act; or |
| (b) | an interest in a private company— |
| (i) | subject to section 14 of the Municipal Finance Management Act; and |
| (ii) | if that transfer or disposal would not result in an infringement of section 86C(2) by another municipality which holds an interest in the company. |
[Section 86G inserted by section 18 of Act No. 44 of 2003]