Mandating Procedures of Provinces Act, 2008
R 385
Share Blocks Control Act 1980 (Act No. 59 of 1980)17. Contents of contract relating to share |
| (1) | A contract for the acquisition of a share shall state the matters required by Schedule 2 and be accompanied by the documents referred to in that Schedule. |
| (2) | Any rouwkoop stipulation in a contract for the acquisition of a share in terms of which the purchaser is deemed to have terminated the contract on account of any act or omission on his part and he, in consequence thereof, is liable to any forfeiture or for the payment of a penalty or damages, or any other stipulation of like import relating to a share, shall be subject to the Conventional Penalties Act, 1962 (Act No. 15 of 1962), as if that stipulation were a penalty stipulation contemplated in that Act. |
| (3) | A copy of a contract contemplated in subsection (1), together with the documents referred to in Schedule 2, shall, within fourteen days of the date of the conclusion thereof, be handed over, or sent by prepaid registered post to his address stated in the agreement, to the purchaser by the seller. |
| (4) | A share block company shall, at the written request of any of its members, furnish such member, within fourteen days of the receipt of such request, with such information as in terms of this section is required to be stated in a contract for the acquisition of a share and as is requested by such member. |
