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Marketing of Agricultural Products Act, 1996 (Act No. 47 of 1996)

26. Regulation of assets, liabilities and contractual rights and obligations of control boards

 

(1) All control boards established under the Marketing Act, 1968 (Act No. 59 of 1968), as well as organisations funded in terms of section 84A of that Act, shall within 30 days of the commencement of this Act submit to the Minister for his or her approval a business plan for the following twelve months or such shorter period as the Minister may determine.

 

(2) From the date of commencement of this Act any property, whether movable or immovable, and whether corporeal or incorporeal, owned, hired or in which any such control board or similar body established by or under a law mentioned in the Schedule has an interest, shall only be disposed of, alienated, let, hypothecated or otherwise dealt with, with  the approval of the Minister.

 

(3) On dissolution of any scheme in terms of the Marketing Act, 1968 (Act No. 59 of 1968), any surplus or shortfall of assets over liabilities of that scheme shall be dealt with in terms of the applicable scheme.

 

(4) Any remaining assets or liabilities, rights and obligations acquired or accrued in terms of such a scheme, which have not been dealt with in terms of subsection (3) shall be dealt with in terms of a liquidation process determined by the Minister by notice in the Gazette.