| (1) |
A provision in a deed which is inconsistent with this Act is void. |
| (a) |
The parties to a deed may by supplemental deed amend a deed but no amendment of a deed is valid unless the consent thereto of a majority in value of investors has been obtained in the manner prescribed in the deed. |
| (b) |
If the registrar is satisfied that any such amendment— |
| (i) |
is required only to enable the provisions of this Act or of the deed to be given effect to more conveniently or economically; |
| (ii) |
will benefit the investors; |
| (iii) |
will not prejudice the interests of investors; |
| (iv) |
does not amend the fundamental provisions or objects of the deed; and |
he or she may direct that such consent be dispensed with.
| (3) |
Subject to subsection (2), a deed which immediately prior to the date of commencement of this Act was a deed in terms of any law repealed by this Act, must within 12 months from the date of commencement of this Act be amended, supplemented or replaced in order to comply fully with the requirements of this Act. |
South African Institute for Drug Free Sport Act, 1997
