Schedule 5: Transitional Arrangements

1: Interpretation

  • (1) In this Schedule:
    • (a) ‘‘general effective date’’ means the date on which section 1 of this Act came into operation; and
      • (b) ‘‘previous Act’’ means the Companies Act, 1973 (Act No. 61 of 1973).
      • (2) A reference in this Schedule:
        • (a) to a section by number, is a reference to the corresponding section of:
          • (i) the previous Act, if the number is followed by the words ‘‘of the previous Act’’; or
            • (ii) this Act, in any other case; or
            • (b) to an item or a subitem by number is a reference to the corresponding item or subitem of this Schedule.
            • (3) Despite any other provision of this Act:
              • (a) the Minister, by notice in the Gazette, may determine a date on which the Commission may assume the exercise of any particular function or power assigned to it in terms of this Act; and
                • (b) until a date determined by the Minister in terms of paragraph (a):
                  • (i) the Commission may not perform that particular function or exercise that particular power; and
                    • (ii) the Minister has the authority to, and bears the responsibility of, exercising any such function or performing any such power assigned by this Act to the Commission.

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