Intellectual Property Rights from Publicly Financed Research and
R 385
Share Blocks Control Act 1980 (Act No. 59 of 1980)11A. Furnishing of information regarding share block schemes to certain lessees |
| (1) | If the immovable property in respect of which a share block scheme is to be brought into operation is a building of which one or more than one part is wholly or partially let for residential purposes, the share block scheme may not be so brought into operation unless— |
| (a) | every lessee of every such part which is leased for such residential purposes has been notified in writing by the share block company concerned, by letter delivered either personally or by registered post, of a date, at least 21 days after the date of the notice, of a meeting of such lessees, to be held in the building in question or in another building situated within a reasonable distance from the first-mentioned building, at which a representative of the share block company intends to be available to provide the lessees with— |
| (i) | such particulars of the proposed share block scheme as they may reasonably require from the share block company; and |
| (ii) | information regarding their rights as set out in section 11B; and |
| (b) | a meeting contemplated in paragraph (a) has been held and a representative of the share block company has been available thereat to provide the particulars contemplated in the said paragraph, and has answered all reasonable questions put to the representative of the share block company by interested lessees personally or through their representatives. |
| (2) | The letter referred to in subsection (1) shall be accompanied by a copy of the use agreement mentioned in section 7 (5). |
