Statistics Act, 1999
R 385
Conversion of South African Special Risks Insurance Association Act, 1998 (Act No. 134 of 1998)5. Share capital |
| 1) | Upon the conversion of SASRIA into a public company, the Company has- |
| a) | a share capital of R1, represented by one ordinary share with a nominal value of R1, held by the State; and |
| b) | the State as its only member. |
| 2) | While the State is the sole or majority shareholder in the Company, sections 66, 190 and 344(d) of the Companies Act do not apply to the Company. |
