Technology Innovation Agency Act, 2008 (Act No. 26 of 2008)18. Transitional provisions |
| (1) | The South African Inventions Development Corporation (herein after referred to as the Corporation) established by section 2 of the Inventions Development Act, 1962 (Act No. 31 of 1962), is hereby disestablished. |
| (2) | The Accounting Officer of the Department must deregister the South African Inventions Development Corporation in terms of the Companies Act, 1973 (Act No. 61 of 1973). |
| (3) | The board of directors of the Corporation contemplated in section 6 of the Inventions Development Act, 1962 (Act No. 31 of 1962), (herein after referred to as the Inventions Development Act), is hereby dissolved. |
| (4) | At the commencement of this Act— |
| (a) | all the rights, assets, obligations and liabilities of the Corporation vest in the Council for Scientific and Industrial Research, (herein after referred to as the CSIR); |
| (b) | the personnel of the Corporation contemplated in section 5 of the Inventions Development Act must be transferred to the CSIR in accordance with section 197 of the Labour Relations Act, 1995 (Act No. 66 of 1995); and |
| (c) | anything done in terms of the Inventions Development Act prior to such commencement and which may be done in terms of this Act, must be deemed as having been done in terms of this Act. |