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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.