Promotion of Access to Information Act, 2000
R 385
South African National Water Resources Infrastructure Agency SOC Limited Act, 2024 (Act No. 34 of 2024)Chapter 2 : Establishment of Agency3. Establishment of Agency |
| (1) | There is hereby established a juristic person to be known as the South African National Water Resources Infrastructure Agency SOC Limited. |
| (2) | Schedule 2 of the Public Finance Management Act will be amended by the Minister responsible for Finance to include the listing of the Agency as a major public entity. |
| (3) | The Minister must take the necessary action for the incorporation of the Agency as a company in terms of the Companies Act. |
| (4) | The State is the sole shareholder of the Agency upon incorporation and at any time thereafter. |
| (5) | The powers and duties of the State as the sole shareholder of the Agency must be exercised and performed by the Minister subject to any limitations provided for in this Act. |
| (6) | The Minister may not, except as provided for in an Act of Parliament, sell or otherwise dispose of any shares of the Agency. |
| (7) | The relationship between the Minister as representative shareholder, as contemplated in subsection (4) and the Agency, must be defined in a shareholder’s compact entered into between the Minister and the Agency in terms of section 15. |
| (8) | The Agency is a water management institution as defined in section 1 of the National Water Act, and is deemed an established body for purposes of section 102 of the National Water Act, with powers to implement international agreements and perform any additional functions as directed by the Minister in terms of sections 74 and 103(2) of the National Water Act. |
| (9) | The Companies Act and the Public Finance Management Act apply to the Agency. |
