South African Airways Act, 2007 (Act No. 5 of 2007) 1. Definitions

 

In this Act, unless the context indicates otherwise—

 

"Companies Act"

means the Companies Act, 1973 (Act No. 61 of 1973);

 

"conversion date"

means the date on which the conversion of South African Airways (Pty.) Ltd. into a public company is registered in terms of section 4(3);

 

"Legal Succession Act"

means the Legal Succession to the South African Transport Services Act, 1989 (Act No. 9 of 1989);

 

"Minister"

means the Minister responsible for Public Enterprises;

 

"PFMA"

means the Public Finance Management Act, 1999 (Act No. 1 of 1999);

 

"SAA"

means South African Airways (Pty.) Ltd. and, with effect from the conversion date, South African Airways Ltd.;

 

"SAA claims"

means all amounts owing by SAA to Transnet as at midnight on the day immediately preceding the transfer date;

 

"SAA interests"

means those SAA claims and assets, liabilities, rights or obligations determined in terms of section 3(1)(a) or section 3(2), as the case may be, to constitute SAA interests;

 

"SAA shares"

means all the shares in the capital of SAA of which Transnet is, immediately before the transfer date, the registered and beneficial owner;

 

"South African Airways Ltd."

means South African Airways Limited, a public company duly incorporated in terms of the Companies Act;

 

"South African Airways (Pty) Ltd"

means South African Airways (Proprietary) Limited, a private company duly incorporated in terms of the Companies Act;

 

"State"

means the Government of the Republic of South Africa acting through the Minister;

 

"this Act"

includes any regulation made in terms of section 8;

 

"transfer date"

means the date on which the transfer of the shares and claims is finalised under the agreement between Transnet and the State;

 

"Transnet"

means Transnet Limited, a company duly incorporated in terms of section 2 of the Legal Succession Act.