Postal Services Act, 1998 (Act No. 124 of 1998)

Amendment of section 12W of Act 44 of 1958, as inserted by section 10 of Act 101 of 1992 and amended by section 3 of Act 35 of 1995 and section 3 of Act 53 of 1997

Section 12W of the Post Office Act, 1958, is hereby amended by the substitution for subsection (1) of the following subsection:

"(1)     Subject to the provisions of subsections (2) and (3) and notwithstanding anything to the contrary contained in the Companies Act, the postal company [may, for so long as all its issued equity shares are held by the State, or] and the telecommunications company may, for as long as the majority of [its] their issued equity shares are held by the State, issue stock, securities, bills, promissory notes, debentures, debenture stock, obligations or other financial instruments as proof of a loan of money and may negotiate or have them listed in the same manner and on the same financial markets or on the same stock exchange as is customary in the case of similar financial instruments issued by the State."