National Empowerment Fund Act, 1998 |
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National Empowerment Fund Act, 1998 |
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To establish a trust for the promotion and facilitation of ownership of income generating assets by historically disadvantaged persons; to set out the objects of the trust; to provide for the powers, appointment and mode of operation of the trustees; to provide for the establishment of other investment entities for the attainment of the objects; to provide for the powers of the Minister to give implementation directives; to provide for the sale of shares in State Owned Commercial Enterprises at a discount to the trust or by the trust to the beneficiaries; to provide for the control of the financial affairs of the trust; to provide for the establishment of an investment holding company by the trust; to provide for the promulgation of regulations; to provide for the dissolution of the trust; and to provide for other incidental matters.
Last update: December 1998
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The National Empowerment Fund Act, 1998 (Act No. 105 of 1998) has been added to the website by Government Gazette 19589, Notice No. 105 dated 11 December 1998.