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Table of Contents
Development Bank of Southern Africa Act, 1997
Notice No. 641 of 1997
Act
Preamble
1. Interpretation
2. [Repealed] Continued existence as juristic person ...
2A. Countries of operation of Bank
3. Objects of Bank
4. Powers of Bank
5. Management of affairs of Bank
6. Shareholder meetings
7. Board of directors
8. Disqualification of directors
9. Tenure and conditions of office of directors
10. Committees of board
11. Meetings
12. Chief executive officer
13. Share capital
14. Expenditure
15. Dividends
16. Accounts and audit
17. Regulations
18. Transitional arrangements
19. Winding up of Bank
20. Use of name of Bank
21. Application to Bank of Companies Act and other legislation
22. Short title
Regulations
Regulations made under Section 17
Notice No. R. 1390 of 1997
1. Interpretation
2. Head office
3. Region
4. Mandate
5. Financial year
6. Wholesale funding
Share allocation arrangements
7. No purchase of Bank's shares
8. Power to issue shares of different classes
9. Commission
Certificates
10. Form of certificates
11. Rights to certificates
12. Issue of replacement certificate
13. Withholding of certificates in respect of ...
14. To which of joint holders certificates shall be issued
Register of members and debenture holders
15. Register of shareholders
16. No trusts recognised
17. Transfer books may by notice be closed
Calls on shares referred to in section 13 of the Act
18. Calls and restriction on power to make calls
19. When calls are made
20. Rights of claim interest
21. Payment of calls in advance
22. Lien of shares
23. Liability of joint holders
Power to sell unpaid shares
24. Power to sell shares in certain circumstances
25. Proceeds of sale
Forfeiture of shares
26. Notice to pay
27. Form of notice
28. If notice not compiled with, shares may be forfeited
29. Sale of share
30. Loss of membership
31. Notice of prior shareholders
32. Evidence of forfeiture
33. When forfeiture applies
Transfer and transmission of shares
34. Execution of transfer
35. Power dispense
36. Form of transfer
37. Evidence of title
38. Rights an institution entitled to a share through liquidation
39. Rights of institution if entitled to a share by ...
40. Directors' right to decline registration of shares
41. Requirements pertaining to debentures
Issues of new shares
42. Power to deal with new shares
Modifying rights
43. Power to modify rights attaching to shares
Borrowing powers
44. Directors may borrow
45. Borrowing provisions
46. Delegation of power to make calls
47. Register of mortgages
Reserve fund
48. Reserve fund
49. Purpose of reserve fund
Capitalisation
50. Capitalisation of undivided profits and/or reserves
Financial accounts, annual profit and loss account and balance sheet
51. Application of the Companies Act
Dividends
52. Declaration of dividends
53. Capital paid up in advance of calls
54. Dividends to be paid out of profits only
55. Declaration of Board
56. Unclaimed dividends
57. Forfeiture of unclaimed dividends
58. Effect of transfer
59. Dividends to joint holders
60. Payment of interim dividends
Payment of dividends or interest
61. Manner of payment of dividends or interest
62. Loss in transmission
Audit
63. Appointment of auditors
Notices
64. Notice of members
65. Holder to notify address in Republic
66. Notice to joint holders
67. Notice to person entitled to a share through death or insolvency
68. When notice by post deemed to be served
69. Notice valid though member deceased
70. How time is to be counted
General meetings of shareholders of the bank
71. Annual general meeting
72. General meetings
73. Convening of general meeting
Notice of general meetings
74. Notice of general meetings
75. Non receipt of notice
Proceedings at general meetings
76. Special business
77. Directors entitled to be present
78. Directors not entitled to vote
79. Adjournment of meeting
80. Adjournment by consent or at direction of meeting
Votes of members
81. Votes of members
82. Proxies not normally entitled to vote on show of hands
83. Voting by show of hands
84. Demanding a poll
85. How poll to be taken
86. Proxies permitted
87. When member not entitled to vote
88. Instrument appointing proxy to be deposited at office
89. Demand for poll
90. When poll may be demanded
91. When vote by proxy valid, though authority revoked
92. Form of proxy
93. Voting in case of joint holders
Shareholders acting by representatives at meetings
94. Representation of shareholders
Meetings of institutional shareholders
95. Application of particular regulation
96. Who shall preside
97. Annual meeting
98. Convening of meeting
Appointment of directors
99. Directors may hold other offices
100. Election of directors
101. Managing director
102. Director's eligibility for re-election
Disqualification of directors
103. When office of director vacated
104. Directors not disqualified where proper disclosure made
Proceedings of directors at meetings
105. Decisions and votes
106. Convening of meetings
107. Notice of meetings
108. Register of directors
109. Directors' attendance register
110. Validity of acts of director or managing director
111. Directors' fee and expenses
Powers of directors
112. Board powers
113. Resolution without Board meeting
114. Delegation of powers to a committee
115. Audit and Employment Equity Committee
116. Power to have securities quoted
Minutes
117. Keeping of minutes
Form of contracts
118. Contracts of the Bank
Appointment of secretary
119. Appointment of secretary
Miscellaneous
120. Provisions of Act to prevail
121. Application of company law
122. GAAP and best practices
Appointment of secretary
Purchase
119. Appointment of secretary
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