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Share Blocks Control Act 1980 (Act No. 59 of 1980)

16. Formalities in respect of contract relating to a share and a use agreement


A contract for the acquisition of a share and a use agreement entered into, and any amendment or cession of any such contract or agreement, after the commencement of this Act, shall be reduced to writing and signed by the parties thereto or by their representatives acting on their written authority, failing which the contract, agreement, amendment or cession, as the case may be, shall, subject to the provisions of section 18, be of no force or effect.