(2) The trustees must have all such powers as may be necessary to enable them to administer the trust and may—
(a)
| (i) |
procure the incorporation of a company or companies registered in terms of the Companies Act for the purpose of holding all or any of the trust assets; and |
| (ii) |
require such company or companies to dispose of all or any of the shares in any such company to such persons and on such terms and conditions as the trustees may from time to time determine; |
(b)
| (i) |
invest in such manner as they may think fit, subject to the provisions of this Act, the capital amount and such income from the trust which may not be immediately required; and |
(ii) realise, vary and transpose any securities, assets, investments and property as they may determine;
(c)
| (i) |
purchase, sell, exchange, lease, hire or otherwise acquire or dispose of movable or immovable property or any right therein; and |
(ii) improve and develop any property or assets of the trust;
| (d) |
expend trust funds pertaining to any immovable property on maintenance, construction, improvement, alteration, payment of rates, taxes, insurance premiums and other charges; |
| (e) |
advance and lend money to any person, company, corporation, association or institution, either with or without security and upon such terms and conditions regarding repayment or otherwise as the trustees may decide subject to the prior approval of the Minister with the concurrence of the Minister of Finance; |
| (f) |
borrow money and in order to provide security for such borrowing, mortgage or pledge trust assets and arrange the manner of repayment of such loans subject to the prior approval of the Minister with the concurrence of the Minister of Finance; |
(g) pay all expenses incurred in connection with the administration of the trust;
| (h) |
employ any person to manage or assist in the management of the assets of the trust and to remunerate including travelling and other expenses which may necessarily be incurred by such employee from funds or income of the trust; |
| (i) |
appoint agents for any specific purpose, including the power to appoint accountants, attorneys, advocates and other professional persons for any specific purpose; |
| (j) |
take action in a court of law for the recovery of any amounts due to the trust or compel the fulfillment of obligations in its favour and defend any proceedings that may be instituted against the trust; |
| (k) |
enter into an agreement or arrangement regarding the terms and conditions of payment of money due to the Trust and the abandonment of any claims by the Trust, subject to the approval of the Minister with the concurrence of the Minister of Finance; |
| (l) |
accept grants and transfers from the State or donations from other persons in favour of the Trust, subject to the terms and conditions as may be imposed by the State or other persons, but such terms and conditions must not be inconsistent with the terms of the Trust; |
| (m) |
purchase or otherwise acquire any equipment that may be necessary for the purpose of meeting the administrative requirements of the Trust; |
| (n) |
open and control any bank account or building society account and draw, accept or give promissory notes, bills of exchange and other negotiable instruments; and |
| (o) |
finance, undertake and promote the education of the historically disadvantaged persons in economic and investment issues and their participation in economic and investment activities. |
| (3) |
The Minister must from time to time, determine by notice in the Gazette the value of movable and immovable assets or shares or interest in the State Owned Commercial Enterprises or private business enterprises which the trustees may not dispose of, encumber or alienate without his or her prior consent with the concurrence of the Minister of Finance. |
| (4) |
The Trustees may in consultation with the Minister make an application for the listing of shares in any company or companies referred to in section 16(2)(a) on a stock exchange in the Republic of South Africa. |
Implementation of Geneva Conventions Act, 2012
