South African Post Office SOC Ltd Act, 2011 (Act No. 22 of 2011)28. Certain provisions of Companies Act may be declared inapplicable to Post Office |
(1)
| (a) | Notwithstanding section 9 of the Companies Act, the Minister may request the Minister of Trade and Industry to declare any provision of the Companies Act to be inapplicable to the Post Office. |
| (b) | The request must be fully motivated by the Post Office. |
(2)
| (a) | The Companies and Intellectual Property Commission must publish particulars about the request and the motivation contemplated in subsection (1) by notice in the Gazette. |
| (b) | In such notice, the Commission must invite interested persons to submit representations to a person named in the notice within the period stipulated in that notice. |
(3)
| (a) | After having considered the representations contemplated in subsection (2), if any, the Minister of Trade and Industry may, by notice in the Gazette, declare the whole or any part of the provision concerned to be inapplicable to the Post Office with effect from the date stipulated in that notice. |
| (b) | The Minister of Trade and Industry may only issue the declaration if satisfied on reasonable grounds that the inapplicability of that provision to the Post Office— |
| (i) | will contribute to the efficiency of the Post Office; |
| (ii) | will not reduce or limit the accountability of the Post Office as a public entity or reduce the transparency of its functioning and operations; and |
| (iii) | will not be prejudicial to the rights, interests or claims of the creditors or employees of the Post Office or to the rights or interests of any other person. |