Statistics Act, 1999
R 385
South African Postbank Limited Act, 2010 (Act No. 9 of 2010)Chapter II : Incorporation and Transfer of Enterprise5. Determination of extent of business to be transferred |
| (1) | The rights and obligations, assets and liabilities of the former Postbank, including all deposits and investments held by the former Postbank or held with other financial institutions and all rights flowing from financial instruments held by the former Postbank, must be transferred to the Company. |
(2)
| (a) | The extent of the business of the former Postbank must be determined by the Post Office and audited by an auditor registered as such in terms of the Auditing Professions Act, 2005 (Act No. 26 of 2005), and appointed by the Minister. |
| (b) | The auditor may not be associated with either the Post Office or the Company. |
| (3) | The auditor must, upon the audit contemplated in subsection (2)(a)— |
| (a) | attach a monetary value to the business of the former Postbank; and |
| (b) | report the value thus determined to the Minister. |
