National Ports Act, 2005 (Act No. 12 of 2005)

Chapter 2 : Establishment and Incorporation of Authority

4. Conversion of Authority

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(1)Notwithstanding sections 32, 66, 190 and 344(d) of the Companies Act, on a date after the incorporation of National Ports Authority (Pty) Ltd, and with the concurrence of the Minister, the Shareholding Minister may take the necessary steps to convert the company into a public company, styled "National Ports Authority Limited", vested with the authority to own, manage, control and administer ports within the Republic.

 

(2)Where National Ports Authority (Pty) Ltd is converted as contemplated in subsection (1), the State’s rights as a shareholder of the Authority are to be exercised by the Shareholding Minister and, where required by this Act, with the concurrence of the Minister.