Statistics Act, 1999
R 385
South African Postbank Limited Act, 2010 (Act No. 9 of 2010)Chapter III : Powers and Duties of Company9. Powers and duties of Company |
| (1) | Subject to sections 4(4) and 26(2) and (3), and subsection (3), the Company has the powers to enable it to realise the object referred to in section 2, which include the power to— |
| (a) | purchase or acquire any movable and immovable property; |
| (b) | manage, insure, sell, lease, mortgage, dispose of, give in exchange, work, develop, build on, improve, turn to account or in any way deal with all of its assets; |
| (c) | operate its business, products or services as set out in the articles; |
| (d) | raise funds; |
| (e) | conclude joint ventures and other commercial agreements with third parties in order to promote and advance its business; |
| (f) | render any or all of its services through the physical assets, systems, employees and general infrastructure of the Post Office; |
| (g) | invest money in accordance with an investment policy made by the Minister, with the concurrence of the Minister of Finance; |
| (h) | borrow money, other than for temporary interbank borrowing, in accordance with a borrowing policy made by the Minister with the concurrence of the Minister of Finance; and |
| (i) | lend money in accordance with a lending policy made by the Minister, with the concurrence of the Minister of Finance. |
(2)
| (a) | The Company and the Post Office must, with the concurrence of the Minister and the Minister of Finance, conclude an agreement which governs cooperation between the Company and the Post Office. |
| (b) | Such agreement must include, amongst others, terms and conditions relating to the utilisation by the Company of infrastructure of the Post Office, envisaged in section 2. |
(3)
| (a) | The Company must comply with policy made by the Minister in terms of section 26(2). |
| (b) | Any decision taken by the Board which is in conflict with a policy contemplated in paragraph (a) is of no force and effect. |
