National Empowerment Fund Act, 1998 (Act No. 105 of 1998)

WHEREAS section 9 of the Constitution of the Republic of South Africa, 1996 authorises measures to be taken designed to promote the achievement of equality by protecting or advancing persons, or categories of persons, disadvantaged by unfair discrimination;

AND WHEREAS the Government of National Unity and Labour have agreed in terms of the “National Framework Agreement on the Restructuring of State Assets” that the restructuring “must distribute wealth, boost the small and medium enterprise sector, have sustainable affirmative action implication and facilitate genuine black economic empowerment”;

NOW THEREFORE, in order to establish structures and mechanisms to redress the inequalities brought about by apartheid by facilitating the broader economic ownership by historically disadvantaged persons,

IT IS THEREFORE ENACTED by the Parliament of the Republic of South Africa, as follows:-