South African Post Office SOC Ltd Act, 2011 (Act No. 22 of 2011)22. Subsidiaries and accountability |
| (1) | The Post Office may establish subsidiary companies. |
| (2) | Sections 10, 13, 21(1), (2) and (3), 23, 24, 25, 27, 28 and 30 apply with the changes required by the context to any subsidiary of the Post Office. |
(3)
| (a) | The Post Office must, before it establishes a subsidiary or revives a dormant subsidiary, submit a feasibility study and business plan of the proposed subsidiary to the Minister for consideration. |
| (b) | The Minister may, subject to section 51(1)(g) of the Public Finance Management Act, after consideration of the feasibility study and business plan and after consultation with the Minister of Finance, approve the establishment of the subsidiary or revival of the dormant subsidiary, as the case may be. |
| (c) | The Minister must, before the approval contemplated in paragraph (b), table the feasibility study and business plan in the National Assembly for consideration. |
| (4) | The Board of any subsidiary is accountable to the Post Office in respect of the performance of its functions. |