WHEREAS the Manpower Training Act 56 of 1981, subject to the transitional provisions, has been repealed by the Skills Development Act 97 of 1998,

AND WHEREAS the Industry Training Board was constituted, registered and accredited in terms of the now repealed Manpower Training Act 56 of 1981;

AND WHEREAS Item 3 to Schedule 2 to the Skills Development Act, the "Transitional Provisions" requires the Minister of Labour to abolish Training Boards by advertising its abolishment in the Government Gazette on the establishment of a Sector of Education and Training Authority ("SETA") which has jurisdiction over any part of an industry or area in respect of which the Training Board has been accredited in terms of section 12B of the Manpower Training Act;

AND WHEREAS Item 4 to Schedule 2 to the Skills Development Act, the "Transitional Provisions" requires that all the assets, rights, liabilities and obligations of the Training Board are transferred to the SETA designated in that notice;

AND WHEREAS the Industry Training Board is obliged to transfer its assets, rights, liabilities and obligations to the SETA;

AND WHEREAS the SETA is statutorily bound to take transfer of all assets, rights, liabilities and obligations in terms of the Skills Development Act 97 of 1998;

NOW THEREFORE THE PARTIES AGREE AS FOLLOWS:(Continued in Sections 2 - 7)