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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