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Table of Contents
Share Blocks Control Act, 1980 (Act No. 59 of 1980)
Introduction
1. Definitions
2. Exemption from provisions of Act and from payment of fees
3. Application of certain laws in respect of share block company
4. Presumption as to operation of share block scheme by company
5. Restrictions on operation of share block scheme
5A. Restriction on receipt of consideration in respect of shares
6. Registrar responsible for administration of Act
7. Main object of share block company and use agreement
8. Capacity and powers of share block company
8A. Duties of share block developer in connection with
9. Provisions as to name of share block company
10. Rights attaching to shares of share block company
11. Offer of shares for sale
11A. Furnishing of information regarding share block schemes to
11B. Sale of shares conferring right to or interest in use of parts
12. Directors of share block company
13. Establishment of levy fund by share block company
14. Loan obligation of share block company
15. Trust account of and investment of trust moneys by share block company
16. Formalities in respect of contract relating to a share and a use agreement
17. Contents of contract relating to share
18. Consequences of non-compliance with formalities
19. Insurance of immovable property of share block company
20. Regulations
21. Offences and penalties
22. Waiver of rights
23. Repealed
24. Short title and commencement
Schedules
Schedule 1 - (Section 8 (3))
1. Approval of Development Scheme and Opening of Sectional Title Register
2. Resolution for the opening of Sectional Title Register
3. Objection to opening of Sectional Title Register in relation to property
4. Consent of mortgagee and discharge of loans secured by mortgage bond
5. Registrar to be furnished with proof of certain matters
6. Sectional Plan relating to property in respect of which
7. Establishment of body corporate in relation to property
8. Transfer of units by a Company to its members or other persons
Schedule 2 (Section 17)
Schedule 2 (Section 17)
Schedule 3
(Repealed) Schedule 3
prescribed
means prescribed by or under this Act;
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