South African Institute for Drug Free Sport Act, 1997
R 385
State Information Technology Agency Act, 1998 (Act No. 88 of 1998)Chapter 5 : Financial Matters19. Transfer of assets |
| (1) | Where an activity of the Agency was performed by a participating department and an asset was held or used by any of the parties referred to in section 3(4) in connection with the performance of that activity, the relevant Head of Department in consultation with his or her Minister must transfer the asset to the Agency. |
| (2) | The transfer of such assets to the Agency must take place by mutual agreement between the participating department and the Agency in consultation with the Minister of Finance, and in the case of a transfer of assets of Infoplan from Denel (Pty) Ltd, the provisions of the Companies Act will apply. |
| (2A) | If a department or public body before the acquisition from the Agency of a service contemplated in— |
| (a) | section 7(1)(a) partly or fully carried out that service itself, any corporeal or incorporeal asset of that department or public body held or used in connection with that service, must be transferred to the Agency; and |
| (b) | section 7(1)(b) partly or fully carried out that service itself, such corporeal and incorporeal assets of that department or public body held or used in connection with that service as agreed on by that department or public body and the Agency, must be transferred to the Agency. |
[Subsection (2A) inserted by section 12(a) of Act No. 38 of 2002]
| (2B) | The transfer of an asset in terms of subsection (2A) must take place in accordance with an agreement between the relevant department or public body and the Agency with the approval of the Minister of Finance or the relevant member of the Executive Council responsible for finance. |
[Subsection (2B) inserted by section 12(a) of Act No. 38 of 2002]
| (3) | Despite any other provision of this section, the State may transfer assets to the Agency in order to further the objects and enhance the performance of the duties and the exercise of the powers of the Agency. |
[Subsection (3) substituted by section 12(b) of Act No. 38 of 2002]
| (3A) | When an corporeal or incorporeal asset is transferred in terms of this section, all contracts, rights and obligations existing at the time in respect of that asset must be assigned to the Agency. |
[Subsection (3A) inserted by section 12(b) of Act No. 38 of 2002]
| (3B) | No transfer duty, stamp duty, registration fee or any other duty, fee, levy or tax imposed by law are payable in respect of any transfer in terms of this section. |
[Subsection (3B) inserted by section 12(b) of Act No. 38 of 2002]
| (4) | The Agency may sell fixed assets only with the approval of the Board in consultation with the Minister. |
