South African Airways Act, 2007 (Act No. 5 of 2007)4. Conversion of South African Airways (Pty) Ltd. into public company |
| (1) | After the transfer date, the Minister may on behalf of the State request the registrar of Companies in writing to convert South African Airways (Pty) Ltd into a public company having a share capital in accordance with the Companies Act. |
| (2) | The request must be accompanied by the memorandum of association and articles of association of the intended public company that must be— |
| (a) | framed in accordance with the Companies Act, but subject to this Act; and |
| (b) | signed by the Minister on behalf of the State. |
| (3) | On receipt of the request and the memorandum and articles so signed the Registrar of Companies must— |
| (a) | register the conversion of South African Airways (Ply.) Ltd. into a public company having a share capital, as well as the memorandum and articles; and |
| (b) | issue an amended certificate of incorporation. |
| (4) | The name of the public company referred to in subsection (3)(a) is South African Airways Limited. |
| (5) | No additional fee referred to in section 63(2) of the Companies Act is payable in respect of the registration of the memorandum and articles referred to in subsection (3)(a). |
| (6) | The Registrar of Companies must issue such directives and authorise such deviations from the regulations in force in terms of the Companies Act and the documents prescribed in terms thereof as he or she may consider necessary in order to give effect to this section. |
| (7) | Sections 32, 44(1), 54(2), 66, 190 and 344(d) of the Companies Act do not apply to South African Airways Ltd. for so long as the State holds 75 per cent or more of the total issued ordinary shares in the Company. |