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Nuclear Energy Act, 1999 (Act No. 46 of 1999)

Chapter II The South African Nuclear Energy Corporation, Limited

8. Corporation successor to property, assets and liabilities of Atomic Energy Corporation

 

(1) On the specified date, the Corporation will become entitled to and have claim to any money which, immediately before that date, stood to the credit of the Atomic Energy Corporation.

 

(2) On the specified date, the following will pass to and vest in the Corporation:
(a) All immovable property registered in the name of the Atomic Energy Corporation and consisting of land, and any servitudes or other real rights with regard to land;
(b) land and any servitudes or other real rights with regard to land (including any right to use land temporarily) acquired by the Atomic Energy Corporation in terms of the previous Act for the purposes of or in connection with the functions, business or operations of the Atomic Energy Corporation;
(c) any other assets of which the Atomic Energy Corporation is the owner, immediately before the specified date, for the purposes of or in terms of the previous Act; and
(d) any liabilities which were incurred by the Atomic Energy Corporation in terms of the previous Act or pursuant to its operations and activities thereunder, which are still outstanding immediately before the specified date.

 

(3) The Registrar of Deeds concerned must make the entries and endorsements that may be necessary to give effect to subsection (2) in or on any relevant register, title deed or any other document that is filed or on record in the Deeds Registry or has been submitted to that Registrar, and no office fees or other money will be payable with regard to such an entry or endorsement.