Long title

To provide for the continued existence of the KwaZulu-Natal Ithala Development Finance Corporation Limited, formerly known as KwaZulu Finance and Investment Corporation Limited, with the primary purpose of promoting, supporting and facilitating sustainable socio-economic development in the Province of KwaZulu-Natal, in accordance with the growth and development strategy of the Province; to determine the objectives, powers, duties and functions of the KwaZulu-Natal Ithala Development Finance Corporation Limited; to determine the manner in which the KwaZulu-Natal Ithala Development Finance Corporation Limited is to be managed, staffed and financed; and to provide for matters incidental thereto.

Table of contents

SECTION	TITLE
	ARRANGEMENT OF SECTIONS
	1. DEFINITIONS
1.	Definitions
	CHAPTER 2. ITHALA DEVELOPMENT FINANCE CORPORATION LIMITED
2.	Ithala Development Finance Corporation Limited
3.	Objects and area of operation of Corporation
4.	Powers, duties and functions of Corporation
5.	Shares, share capital and shareholding
	CHAPTER 3. BOARD OF CORPORATION
6.	Composition of Board
7.	Disqualification from being appointed to Board
8.	Declaration of financial or other interests of members of Board
9.	Term of office and reappointment of members of Board
10.	Vacancies, removal and resignation from office of members of Board
11.	Temporary suspension of member of Board
12.	Meetings and procedures at meetings of Board
13.	Recusal of member from meetings and proceedings of Board
14.	Remuneration of members of Board
15.	Establishment of committees to assist Board
16.	Co-opting of persons to Board or committees of Board
	CHAPTER 4. CHIEF EXECUTIVE OFFICER AND STAFF OF CORPORATION
17.	Chief Executive Officer of Corporation
18.	Functions of Chief Executive Officer
19.	Resignation and removal from office of Chief Executive Officer
20.	Staff of Corporation
21.	Secondment or transfer of staff to Corporation
	CHAPTER 5. POLICY DIRECTIVES AND INVESTMENT PLAN
22.	Policy directives to Board
23.	Corporate Plan of Corporation
24.	Prohibitions and restrictions on distribution of profits of Corporation
	CHAPTER 6. FUNDING AND FINANCIAL MANAGEMENT OF CORPORATION
25.	Funds of Corporation
26.	Financial management
27.	Audit and annual report
28.	Establishment and administration of special funds
	CHAPTER 7. ITHALA STATE-OWNED COMPANY LIMITED
29.	Ithala State-owned Company Limited
30.	Powers of Company
31.	Compliance with requirements of Banks Act
32.	Winding-up of Company
	CHAPTER 8. GENERAL PROVISIONS
33.	Security of confidential information held by Corporation
34.	Dissolution of Corporation
35.	Use of name of Corporation
36.	Delegations
37.	Regulations
38.	General offences
39.	Penalties
40.	Repeal of law
41.	Transitional arrangements and savings
42.	Short title

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