Housing Development Agency Act, 2008
R 385
South African Airways Act, 2007 (Act No. 5 of 2007)3. Transfer of SAA shares and SAA interests |
| (1) | The Minister and Transnet, with the concurrence of the Minister of Finance, must determine by agreement— |
| (a) | which SAA claims and which assets, liabilities, rights or obligations of Transnet in connection with SAA constitute SAA interests; and |
| (a) | the consideration payable for the transfer of SAA shares and SAA interests to the State. |
| (2) | In the absence of an agreement between the Minister and Transnet on any matter referred to in subsection (1) that matter must be finally determined by the Minister, with the concurrence of the Minister of Finance. |
| (3) | With effect from the transfer date— |
| (a) | the State becomes the shareholder and member of SAA; and |
| (b) | the Minister exercises all the rights attaching to SAA shares and SAA interests on behalf of the State, including the rights as shareholder and member of SAA. |
