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

Chapter II : Incorporation and Transfer of Enterprise

7. Transfer of enterprise of former Postbank to Company, vesting and consequence thereof

 

On the transfer date

(a) the management, control and operation of the former Postbank are transferred to the Company;
(b) the business of the former Postbank vests in the Company;
(c) subject to compliance with the Labour Relations Act, 1995 (Act No. 66 of 1995), personnel of the former Postbank is transferred to the Company;
(d) anything done by or on behalf of the former Postbank must be regarded as having been done by the Company.