National Ports Act, 2005 (Act No. 12 of 2005)Chapter 2 : Establishment and Incorporation of Authority3. Process before establishment of Authority |
(1)
| (a) | From the date this Act comes into effect until the date determined by the Shareholding Minister in terms of section 27(1), the National Ports Authority of South Africa— |
| (i) | is for all purposes deemed to be the Authority; and |
| (ii) | must perform the functions of the Authority as if it were the Authority. |
| (b) | For the purposes of paragraph (a) any reference in this Act to the Authority, the Board of the Authority and any functionary of the Authority must be construed as a reference to National Ports Authority of South Africa and the divisional board and any functionary thereof, respectively, unless it is clearly inappropriate. |
| (c) | Any appointment to the divisional board or of any functionary of National Ports Authority of South Africa made after the commencement of this Act, must be made in terms of this Act. |
| (2) | As soon as this Act takes effect the Shareholding Minister must ensure that the necessary steps are taken for the incorporation of the National Ports Authority of South Africa as a company contemplated in subsection (3). |
| (3) | The Registrar of Companies must— |
| (a) | register the memorandum and articles of association and incorporate National Ports Authority of South Africa under the name "National Ports Authority (Pty) Ltd" with Transnet as the sole member and shareholder; |
| (b) | issue to that entity the necessary documents to enable it to conduct business as a corporate entity. |
(4)
| (a) | On the date determined by the Shareholding Minister in terms of section 27(1), all assets, liabilities, rights and obligations of Transnet in respect of National Ports Authority of South Africa vest in National Ports Authority (Pty) Ltd. |
| (b) | From the date contemplated in paragraph (a) until the date on which the Authority becomes the successor to National Ports Authority (Pty) Ltd as contemplated in section 4, National Ports Authority (Pty) Ltd— |
| (i) | is for all purposes deemed to be the Authority; and |
| (ii) | must perform the functions of the Authority as if it were the Authority. |
| (c) | For the purposes of paragraph (b) any reference in this Act to the Authority, the Board of the Authority and any functionary of the Authority must be construed as a reference to National Ports Authority of South Africa (Pty) Ltd and the board and any functionary of that company, respectively, unless it is clearly inappropriate. |
| (d) | Any appointment to the board or of any functionary of National Ports Authority (Pty) Ltd must be made in terms of this Act. |