Statistics Act, 1999
R 385
Road Traffic Management Corporation Act, 1999 (Act No. 20 of 1999)Chapter 5 : Private investment in road traffic36. Joint equity venture |
| (1) | The Corporation may, subject to subsections (2) and (3), conclude an agreement to establish a project company, in which it may be a shareholder together with any individual or private entity or Government of any other state, with the business object of operating or providing road traffic facilities and services, subject thereto that no finance is provided by the exchequer to such joint venture other than for the purposes of taking an equity share. |
| (2) | For the purpose of subsection (1), the public shareholding in any project company may only exceed 49% if the agreement specifies a fixed period within which the public shareholding is to be reduced below 5070. |
| (3) | The Minister and every MEC must annually report to Parliament and the provincial legislatures, as the case may be, on the feasibility of incrementally reducing public shareholding in a company formed in terms of subsection (1). |
