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South Africa
NATIONAL LEGISLATION OVERVIEWS
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Share Blocks Control Act, No. 59 of 1980

Long title


To control the operation of share block schemes; and to provide for matters connected therewith

Table of contents

SECTION TITLE
1. Definitions
2. Exemption from provisions of Act and from payment of fees in terms of Companies Act
3. Application of certain laws in respect of share block company
4. Presumption as to operation of share block scheme by company
5. Restriction on operation of share block scheme
6. Registrar responsible for administration of Act
7. Main object of share block company and use agreement
8. Capacity and powers of share block company
9. Provisions as to name of share block company
10. Rights attaching to shares of share block company
11. Offer of shares for sale
12. Directors of share block company
13. Establishment of levy fund by share block company
14. Loan obligation of share block company
15. Trust account of and investment of trust moneys by share block company
16. Formalities in respect of contract relating to a share and a use agreement
17. Contents of contract relating to share
18. Consequences of non-compliance with formalities
19. Insurance of immovable property of share block company
20. Regulations
21. Offences and penalties
22. Waiver of rights
23. Amendment of Act 65 of 1971
24. Short title and commencement
Sch. 1. SCHEDULE 1.
Sch. 2. SCHEDULE 2.
Sch. 3. SCHEDULE 3.
.
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