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Companies Act, 2008 (Act No. 71 of 2008)

Schedule 5 : Transitional Arrangements

1. Interpretation

 

 

1) In this Schedule—
a) ‘‘general effective date’’ means the date on which section 1 of this Act came into operation; and
b) ‘‘previous Act’’ means the Companies Act, 1973 (Act No. 61 of 1973).

 

2) A reference in this Schedule—
a) to a section by number, is a reference to the corresponding section of—
i) the previous Act, if the number is followed by the words ‘‘of the previous Act’’; or
ii) this Act, in any other case; or
b) to an item or a subitem by number is a reference to the corresponding item or subitem of this Schedule.

 

3) Despite any other provision of this Act—
a) the Minister, by notice in the Gazette, may determine a date on which the Commission may assume the exercise of any particular function or power assigned to it in terms of this Act; and
b) until a date determined by the Minister in terms of paragraph (a)—
i) the Commission may not perform that particular function or exercise that particular power; and
ii) the Minister has the authority to, and bears the responsibility of, exercising any such function or performing any such power assigned by this Act to the Commission.