Special Economic Zones Act, 2014 (Act No. 16 of 2014)Chapter 5 : Designation of Special Economic Zones29. Taking over administration of Special Economic Zone |
| (1) | The Minister may, after consultation with the Advisory Board, the Special Economic Zone Board and the licensee concerned, appoint an administrator to take over the administration or to perform the functions of a Special Economic Zone Board if— |
| (a) | the Special Economic Zone Board has failed to comply with any condition prescribed by the Minister in terms of section 24(3)(b); |
| (b) | the Special Economic Zone Board fails or is unable to perform its functions; or |
| (c) | there is mismanagement of the finances of that Special Economic Zone entity. |
| (2) | The Minister must publish a notice in the Gazette appointing an administrator and in that notice the Minister must determine the powers, duties and the term of appointment of the administrator. |
| (3) | The Minister may act in terms of subsection (1) without consulting the Advisory Board, the Special Economic Zone Board and the licensee concerned if there is financial mismanagement of that Special Economic Zone entity and the delay caused by the consultation would be detrimental to the functioning of that Special Economic Zone entity. |
| (4) | Where the Minister acts in terms of subsection (3), the Minister must review the appointment of the administrator within 90 days of the appointment and after consultation with the Advisory Board, the Special Economic Zone Board and the licensee concerned. |
| (5) | The costs associated with the appointment of the administrator in terms of this section will be for the Special Economic Zone entity concerned. |