National Environmental Management: Biodiversity Act, 2004 (Act No. 10 of 2004)

Chapter 2 : South African National Biodiversity Institute

Part 7 : General

36A. Winding up or dissolution of Institute
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(1)The Institute may not be wound up or dissolved except by or in terms of an Act of Parliament.

 

(2)Upon its winding-up or dissolution the South African Biodiversity Institute must transfer its remaining assets or the proceeds of those assets, after satisfaction of its liabilities, to the State or to an equivalent Schedule 3A Public Entity which has the same objectives as the South African Biodiversity Institute and which itself is exempt from income tax in terms of section 10(1)(cA) of the Income Tax Act, 1962 (Act No. 58 of 1962).

 

[Section 36A inserted by section 33 of Act No. 14 of 2009]