Chapter 1: Interpretation, Purpose and Application
Part B: Purpose and application
s9: Modified application with respect to state-owned companies
- (1) Subject to section 5(4) and (5), any provision of this Act that applies to a public company applies also to a state-owned company, except to the extent that the Minister has granted an exemption in terms of subsection (3).
- (2) The member of the Cabinet responsible for:
- (a) state-owned companies may request the Minister to grant a total, partial or conditional exemption from one or more provisions of this Act, applicable to all state-owned companies, any class of state-owned companies, or to one or more particular state-owned company; or
- (b) local government matters may request the Minister to grant a total, partial or conditional exemption from one or more provisions of this Act, applicable to all state-owned companies owned by a municipality, any class of such enterprises, or to one or more particular such enterprises,
- on the grounds that those provisions overlap or duplicate an applicable regulatory scheme established in terms of any other national legislation.
- (3) The Minister, by notice in the Gazette after receiving the advice of the Commission, may grant an exemption contemplated in subsection (2):
- (a) only to the extent that the relevant alternative regulatory scheme ensures the achievement of the purposes of this Act at least as well as the provisions of this Act; and
- (b) subject to any limits or conditions necessary to ensure the achievement of the purposes of this Act.
No related note.
No related forms.