Notice No. 524

27 June 2007

It is hereby notified that the President has assented to the following Act, which is hereby published for general information:—

To provide for the transfer of the shares of Transnet Limited in South African Airways (Proprietary) Limited to the State; to provide for the conversion of South African Airways (Proprietary) Limited into a public company having a share capital incorporated in terms of the Companies Act, 1973; and to provide for matters connected therewith.

PREAMBLE

Since the Republic's rapidly developing economy requires reliable and extensive air transport capacity;

And since the State desires to promote air links with the Republic's main business, trading and tourism markets within the African continent and internationally;

And since the State has a developmental orientation and regards South African Airways as a national carrier and strategic asset that would enable the State to preserve its ability to contribute to key domestic, intra-regional and international air linkages, the State intends to retain it as a national carrier,