Housing Development Agency Act, 2008
R 385
The South African National Roads Agency Limited and National Roads Act, 1998 (Act No. 7 of 1998)Chapter 4 : Finances and Accountability33. Loans and Government guarantees for loans |
| (1) |
| (a) | The State, represented by the Minister, may grant loans to the Agency from moneys made available by Parliament for that purpose. |
| (b) | The Agency will pay interest on such a loan at a rate determined by the Minister acting with the agreement of the Minister of Finance, and must repay the loan in the instalments and within the period determined by the Minister so acting. |
| (2) |
| (a) | The Agency, with the written permission of the Minister granted with the agreement of the Minister of Finance, may raise loans from any other source to finance any expenditure that may be incurred by the Agency during any financial year for the purposes of the planning, design, construction, maintenance or rehabilitation of any national road. |
| (b) | The permission may be granted subject to any conditions determined by the Minister acting with the agreement of the Minister of Finance. |
| (3) | The State, represented by the Minister acting with the agreement of the Minister of Finance, may guarantee any loan raised by the Agency in terms of subsection (2). |
