State Information Technology Agency Act, 1998 (Act No. 88 of 1998)Chapter 5 : Financial Matters17. Shareholding |
| (1) | Despite the Companies Act or any other law, the State is the sole shareholder of the Agency. |
| (2) | The Agency has a share capital of R1, represented by one ordinary share with a nominal value of R1. |
| (3) | The Minister must exercise on behalf of the State the rights attached to the State as shareholder. |
[Section 17 substituted by section 10(1) of the State Information Technology Agency Amendment Act, 38 of 2002, Notice No. 1391, GG24029, dated 7 November 2002 - The memorandum of association of the Agency must be altered in accordance with section 17(2) of the principal Act,a s amended by this Act, and lodged with the Registrar of Companies who must, free of charge, register the memorandum of association so altered (section 10(2)) - effective 1 February 2003, per Proclamation No. R.3 of 31 January 2003]