Protection of Businesses Act, 1978
R 385
National Small Business Act, 1996 (Act No. 102 of 1996)Transitional arrangements |
| (1) | In this section, unless the context otherwise indicates— |
‘CBDA’ means the Co-operative Banks Development Agency as established by Chapter IX of the Co-operative Banks Act, 2007 (Act No. 40 of 2007);
‘SEDA’ means the Small Enterprise Development Agency established in terms of Chapter 3 of the National Small Enterprise Act, 1996 (Act No. 102 of 1996), prior to its amendment by this Act; and
‘SEFA’ means the Small Enterprise Finance Agency, a state owned company registered under company registration number 1995/011258/06.
[Transitional arrangements inserted by section 10(1) of the National Small Enterprise Amendment Act, 2024 (Act No. 21 of 2024), GG50965, Notice No. 5049, dated 23 July 2024 - effective 1 October 2024 per Commencement Notice 190 of 2024]
| (2) | With effect from the date of commencement of this section— |
| (a) | the CBDA, SEDA and SEFA are disestablished; and |
| (b) | any board of an entity referred to in paragraph (a), established in terms of its founding legislation or other legal instrument must be dissolved. |
[Transitional arrangements inserted by section 10(2) of the National Small Enterprise Amendment Act, 2024 (Act No. 21 of 2024), GG50965, Notice No. 5049, dated 23 July 2024 - shall come into operation 1 December 2024 per Commencement Notice 190 of 2024]
| (3) | A person who is employed by the CBDA, SEDA and SEFA, immediately before the commencement of this section must be transferred to the Agency in accordance with section 197 of the Labour Relations Act, 1995 (Act No. 66 of 1995). |
[Transitional arrangements inserted by section 10(3) of the National Small Enterprise Amendment Act, 2024 (Act No. 21 of 2024), GG50965, Notice No. 5049, dated 23 July 2024 - effective 1 October 2024 per Commencement Notice 190 of 2024]
| (4) | For purposes of the Income Tax Act, 1962 (Act No. 58 of 1962), no change of employer must be regarded as having taken place when a person contemplated in subsection (3) takes up employment at the Agency. |
[Transitional arrangements inserted by section 10(4) of the National Small Enterprise Amendment Act, 2024 (Act No. 21 of 2024), GG50965, Notice No. 5049, dated 23 July 2024 - effective 1 October 2024 per Commencement Notice 190 of 2024]
| (5) | On the date of commencement of this section, or on a date determined by the Minister, all assets, liabilities, rights and obligations of the CBDA, SEDA and SEFA, as the case may be, including the unexpended balance of appropriations, authorisations, allocations and other funds employed, held or used in connection with the furtherance of its objectives and functions, pass to the Agency. |
[Transitional arrangements inserted by section 10(5) of the National Small Enterprise Amendment Act, 2024 (Act No. 21 of 2024), GG50965, Notice No. 5049, dated 23 July 2024 - effective 1 October 2024 per Commencement Notice 190 of 2024]
| (6) | Anything done by or on behalf of the CBDA, SEDA and SEFA is deemed to have been done by the Agency, subject to this Act. |
[Transitional arrangements inserted by section 10(6) of the National Small Enterprise Amendment Act, 2024 (Act No. 21 of 2024), GG50965, Notice No. 5049, dated 23 July 2024 - effective 1 October 2024 per Commencement Notice 190 of 2024]
| (7) | The Director-General must, in writing, as soon as practicable after the commencement of this section, notify the Boards of the CBDA, SEDA and SEFA, the Companies and Intellectual Property Commission and the Registrar of Deeds of the provisions of this section. |
[Transitional arrangements inserted by section 10(7) of the National Small Enterprise Amendment Act, 2024 (Act No. 21 of 2024), GG50965, Notice No. 5049, dated 23 July 2024 - effective 1 October 2024 per Commencement Notice 190 of 2024]
| (8) | On receipt of the notification contemplated in subsection (7) the Companies and Intellectual Property Commission and the Registrar of Deeds must make the necessary entries and endorsements on any register or document in the registration office, or documents submitted to that Commission or Registrar. |
[Transitional arrangements inserted by section 10(8) of the National Small Enterprise Amendment Act, 2024 (Act No. 21 of 2024), GG50965, Notice No. 5049, dated 23 July 2024 - effective 1 October 2024 per Commencement Notice 190 of 2024]
| (9) | No transfer duties, stamp duties, fees or taxes will be payable for purposes of subsection (5) or (8). |
[Transitional arrangements inserted by section 10(9) of the National Small Enterprise Amendment Act, 2024 (Act No. 21 of 2024), GG50965, Notice No. 5049, dated 23 July 2024 - effective 1 October 2024 per Commencement Notice 190 of 2024]
