– taking over of one’s financial obligation and you will websites obligations out-of an amount out-of R2 five hundred mil, being R2 281 million together with notice from the Statement and you will R219 million because a funds appropriation from Institution off Transportation;
– cancellation of borrowing powers of your Firm on the a romantic date to get determined by the fresh Minister regarding Transport in session with the latest Minister out-of Financing;
– the newest connected South African Railway Commuter Company Minimal Monetary Preparations Bill, 2000, which enables these suggestions, to possess distribution so you’re able to Parliament on 3rd title of one’s current Tutorial.
(Since delivered from the Federal System with regards to section 75 of your own Composition: Explanatory report about Statement penned inside Government Gazette Zero. . out of . 1999.) (The fresh new English text is the authoritative text message of your Bill.)
Modification out-of point 23 out-of Work nine regarding 1989 as amended by the point sixteen from Operate 52 away from 1991 and area step three regarding Operate 47 out of 1992
Bill In order to amend the brand new Courtroom Succession south African Transport Functions Act, 1989, to remove this new vitality of one’s Southern African Rail Commuter Enterprise Limited by borrow money, into a night out together to be determined by the latest Minister of Transport for the appointment to the Minister out-of Funds, except for the brand new purposes of connecting funds inside the restricted factors; to help you limit the energies of the Business to ensure or secure the costs or debt off most other persons to help you individuals who will be wholly had subsidiaries of Firm and you may susceptible to the newest standards and limitations, if any, enforced from the Minister regarding Transportation; to add that the State shall control the loan financial obligation and you can online debts of Enterprise in the a selected amount; and handle matters linked therewith.