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South African Postbank Limited Act, 2010 (Act No. 9 of 2010)

Chapter 1 : Interpretation and Object of Act

1. Definitions


In this Act, unless the context indicates otherwise, any word or expression to which a meaning has been ascribed in section 1 of the Public Finance Management Act, bears the meaning so ascribed, and—


"Banks Act"

means the Banks Act, 1990 (Act No. 94 of 1990);



means the board of directors of the Company;


"Companies Act"

means the Companies Act, 1973 (Act No. 61 of 1973);



means South African Postbank Limited contemplated in section 3;


"family member"

in relation to any person, means his or her parent, sibling, child, including an adopted child or a step-child, or spouse (whether by statutory, customary or religious law), and including a life partner who is a person living with that person as if they were married to each other;


"former Postbank"

means the Postbank referred to in section 51 of the Postal Services Act, 1998 (Act No. 124 of 1998), as it existed as a division of the Post Office immediately prior to the repeal of that section;



means a member of the Board;



means the Minister of Communications;


"Post Office"

means South African Post Office Limited established in terms of the Post Office Act;


"Post Office Act"

means the Post Office Act, 1958 (Act No. 44 of 1958);


"Postal Services Act"

means the Postal Services Act, 1998 (Act No.124 of 1998);


"PubIic Finance Management Act"

means the Public Finance Management Act, 1999 (Act No.1 of 1999);


"Registrar of Banks"

means the Registrar of Banks designated as such under section 4 of the Banks Act;



means the Republic of South Africa;


"the business of a bank"

has the meaning ascribed to it in the Banks Act;


"the business of the former Postbank"

means the rights, obligations, assets and liabilities of the former Postbank contemplated in section 5(1);


"this Act"

includes any regulation made under section 26;


"transfer date"

means the date determined by the Minister in terms of section 6.