Road Traffic Management Corporation Act, 1999 (Act No. 20 of 1999)Chapter 5 : Private investment in road traffic34. Private investment |
For the purpose of restructuring the affairs of the Corporation, the chief executive officer may, subject to the approval of the Shareholders Committee and the Minister of Finance—
| (a) | form companies in terms of the Companies Act, 1973 (Act No. 61 of 1973), and transfer to such companies all or some of the functions performed by any functional unit or parts thereof, and any assets, liabilities, rights and obligations related to the execution of such functions; |
| (b) | subject to section 36, acquire shares in a project company with private shareholding in terms of a joint equity venture; or |
| (c) | subject to section 37, conclude appropriate investment contracts. |