Promotion of National Unity and Reconciliation Act, 1995 (Act No. 34 of 1995)Chapter 7 : General Provisions47. Consequences of dissolution |
| (1) | Notwithstanding the dissolution of the Commission in terms of section 43(3), the President's Fund shall continue to exist until a date fixed by the President by proclamation in the Gazette, whereupon all the funds and property which vested in the President's Fund immediately prior to that date shall be transferred to the Disaster Relief Fund referred to in Chapter II of the Fund Raising Act, 1978 (Act No. 107 of 1978), and shall vest in the Disaster Relief Fund. |
[Subsection (1) substituted by section 4 of Act No. 33 of 1998]
| (2) | After the date referred to in subsection (1), all the funds and property which would have accrued to the President's Fund, if the Commission had not been dissolved, shall vest in the Disaster Relief Fund. |
| (3) | Any funds or property which, by trust, donation or bequest were vested in, or would have accrued to, the President's Fund, and which vest in the Disaster Relief Fund in terms of subsection (1), shall be dealt with by the board of the Disaster Relief Fund in accordance with the conditions of such trust, donation or bequest. |
| (4) | As from the date referred to in subsection (1) the liabilities incurred by the Commission or the President's Fund in terms of this Act, shall pass to the Disaster Relief Fund: Provided that such a liability shall be defrayed only from funds or property which vest in the Disaster Relief Fund in terms of this section. |
| (5) | No transfer duty, stamp duty or registration fees shall be payable in respect of the acquisition of any funds or property in terms of this section. |
[Date of commencement of section 47: 10 April 1996]