Protection of Businesses Act, 1978
R 385
Sentech Act, 1996 (Act No. 63 of 1996)4. Conversion of Sentech (Pty) Ltd into public company |
| (1) | As soon as possible after the transfer of the shares in Sentech (Pty.) Ltd. to the State in terms of section 2(1), the Minister shall on behalf of the State request the Registrar of Companies in writing to convert Sentech (Pty.) Ltd. into a public company having a share capital in accordance with the provisions of the Companies Act. |
| (2) | The request shall be accompanied by the memorandum of association and articles of association of the intended public company which shall be— |
| (a) | framed in accordance with the provisions of the Companies Act, but subject to the provisions of this Act; and |
| (b) | signed by the Minister on behalf of the State. |
| (3) | On receipt of the request and the memorandum and articles so signed the Registrar of Companies shall— |
| (a) | register the conversion of Sentech (Pty.) Ltd. into a public company having a share capital, as well as the memorandum and articles; and |
| (b) | issue an amended certificate of incorporation. |
| (4) | The name of the public company referred to in subsection (3)(a) shall be Sentech Limited. |
| (5) | No additional fee referred to in section 63(2) of the Companies Act shall be payable in respect of the registration of the memorandum and articles referred to in subsection (3)(a). |
| (6) | The Registrar of Companies shall issue such directives and authorise such deviations from the regulations in force in terms of the Companies Act and the documents prescribed in terms thereof as he or she may consider necessary in order to give effect to this section. |
| (7) | The rights which, in terms of section 29(1) of the Companies Act, are not affected by the conversion of Sentech (Pty) Ltd. into a public company, shall, without limiting the generality of that section, include the broadcasting signal distribution licence granted to Sentech (Pty.) Ltd. in terms of section 33(1)(a)(i) of the Independent Broadcasting Authority Act. |
| (8) | Sections 66, 190 and 344(d) of the Companies Act shall not apply to the public company referred to in subsection (3)(a). |
