Acts Online
GT Shield

Broad-Based Black Economic Empowerment Act, 2003 (Act No. 53 of 2003)

Memorandum of Understanding, (2020)

4. Guidelines for Mutual Assistance

 

4.1 The Parties may agree to participate in the conduct and review of projects which may be deemed necessary from time to time.

 

4.2 In the event of the Parties identifying and agreeing on a specific form of Co-operation that requires funding, the Parties will—
(a) comply with the process(es) concerned/applicable (if any) to obtain approval for such funding/payment; and
(b) thereafter formalise the specifics, rights and obligations of the Parties in a separate legally binding contract.

 

4.3 Each Party remains responsible for its own expenses, except as may be agreed in a contract contemplated in clause 4.2 above.

 

4.4 No legally binding obligations shall arise from a contract contemplated in clause 4.4 above, where a Party's applicable policies and procedures relating to the commitment of funding or other resources has not been complied with.