Stamp Duties Act, 1968 (Act 77 of 1968)
R 385
The South African National Roads Agency Limited and National Roads Act, 1998 (Act No. 7 of 1998)Chapter 1 : Incorporation, Establishment and Related Matters7. Agency the successor to certain property, assets and liabilities |
| (1) | On the incorporation date, the Agency will become entitled to and have claim to any moneys which, immediately before that date, stand to the credit of the National Roads Fund, mentioned in section 2(1) of the previous Act. |
| (2) | On the incorporation date, the following immovable property will pass to and vest in the Agency: |
| (a) | The immovable property of the South African Roads Board consisting of land, and any servitudes on or over land, on which national roads are situated; |
| (b) | land and any servitudes or other real rights with regard to land (including any right to use land temporarily), acquired by the South African Roads Board or the State in terms of the previous Act for the purposes of or in connection with national roads; |
| (c) | any other immovable property of the South African Roads Board acquired in terms of the previous Act from moneys made available from that National Roads Fund; |
| (d) | any State land on which a national road is situated, or any servitude or other real right with regard to land held by the State for the purposes of or in connection with a national road situated on the latter land. |
| (3) |
| (a) | The Minister and the Agency may enter into an agreement providing for the Agency to take over— |
| (i) | any assets (except immovable assets) of which the South African Roads Board is the owner for the purposes of or in terms of the previous Act; and |
| (ii) | any liabilities which were incurred by the South African Roads Board in terms of the previous Act or pursuant to its operations and activities thereunder. |
| (b) | The assets and liabilities specified in that agreement, which the Minister must cause to be published in the Gazette, will pass to and vest in the Agency on the day on which that agreement is so published. |
| (4) |
| (a) | The Minister, by notice in the Gazette, may declare that any movable or immovable property belonging to and under the control of the State for the purposes of the previous Act and which is specified in the notice, except any immovable property mentioned in subsection (2)(b) and (d), will pass to and vest in the Agency on the date mentioned in the notice. |
| (b) | The Minister must lay the notice mentioned in paragraph (a) on the table in the National Assembly within 14 days after publication of that notice in the Gazette, if the National Assembly is sitting then, or, if the National Assembly is not sitting then, within 14 days after the beginning of its next sitting. |
| (5) | Where any immovable property passes to and becomes vested in the Agency in terms of subsection (2), section 31 or 32 (as the case may be) of the Deeds Registries Act, 1937 (Act No. 47 of 1937), will apply for the purpose of registering the Agency’s newly acquired ownership of or entitlement to that immovable property. |
| (6) | Where the ownership in any particular immovable property of the State has passed to and become vested in the Agency in terms of subsection (4), the Registrar of Deeds, upon being furnished with the notice that has been issued in respect of that immovable property in terms of that subsection, must— |
| (a) | make the necessary entries in the appropriate registers kept by that Registrar in terms of the Deeds Registries Act, 1937; and |
| (b) | also— |
| (i) | make the necessary endorsements on the relevant title deeds and other documents or records relating to that immovable property; or |
| (ii) | where applicable, issue a deed of grant in the name of the Agency in order to register the Agency’s title to that property. |
