Post and Telecommunication-related Matters Act, 1958 (Act No. 44 of 1958)Chapter II : Finance12K. Appointment of agents and making of advances |
| (1) | The Minister may, on the terms and conditions agreed upon, appoint the Bank, a financial institution or any other person as an agent for the issue, management, repurchase or repayment of securities issued under this Act, or to perform any other action which the department may or is required to perform in terms of section 12I or 12J. |
| (2) | The department may, as a charge against the Fund, make interest-free advances to an agent referred to in subsection (1) for the repurchase of securities, and advances so made shall be deemed to have been appropriated by law. |
| (3) | The Minister may either in general or in a particular case or in cases of a particular nature delegate to an office; or the holder of a post in the department, on such conditions as he may determine, any power conferred upon him by subsection (1). |
[Subsection (3) inserted by section 4 of Act No. 27 of 1983]
[Section 12K inserted by section 5 of Act No. 113 of 1976]