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The South African National Roads Agency Limited and National Roads Act, 1998 (Act No. 7 of 1998)

Chapter 1 : Incorporation, Establishment and Related Matters

6. Certain provisions of Companies Act may be declared not applicable to Agency

 

 

(1) The Minister, on the recommendation of the Agency, may from time to time as and when considered necessary, request the Minister of Trade and Industry to declare any particular provision of the Companies Act not to be applicable to the Agency.

 

(2) The request must be fully motivated, and the necessary particulars about the request must be made known by the Registrar of Companies, together with the motivation therefor, by notice in the Gazette. In that notice that Registrar must also invite interested persons who may have any objections to such a declaration, to submit their objections and representations to a person named in the notice, or, if sent by post, to place that person in possession of their objections and representations, not later than 21 days after the date of the notice.

 

(3) After having considered the objections and representations (if any) received within the 21 day period, the Minister of Trade and Industry, by notice in the Gazette, may declare the whole or any part of any provision of the Companies Act about which the above-mentioned request was made, not to be applicable to the Agency with effect from a date stated in that notice, if satisfied on reasonable  grounds  that  the non-application of that provision to the Agency—
(a) will contribute to the Agency’s efficiency or will reduce its operating costs; and
(b) will not reduce or limit the Agency’s accountability as a public institution or from the requirements of transparency as regards its functioning and operations; and
(c) will not be prejudicial to the rights, interests or claims of the Agency’s creditors or employees or to the rights or interests of any other interested parties.