contains UNCERTIFIED COPY for information/reference. For authentic
copy, please refer to certified copy only. In case
please bring it to our notice.
Airports Company Amendment Act, No. 2 of 1998
To amend the Airports Company Act, 1993, so as to amend certain definitions; to provide for the company to change its name; to exempt the company further from certain provisions of the Companies Act, 1973; to substitute or delete certain obsolete references; to provide that the Shareholding Minister’s right to receive the annual report is based on the State’s shareholding; to provide for an unlimited number of shareholders; to provide for the transfer of the State’s shares in the company in order to introduce a strategic equity partner to the company and certain empowerment initiatives; to provide for the use of the proceeds of the sale of the State’s shares in the company; to provide that the objects of the company are as set out in its memorandum of association; to make it clear that the company has the powers of a company registered in terms of the Companies Act, 1973, subject to limitations in the Airports Company Act, 1993; to limit the level of financial risk posed to the core aeronautical activities of the company by its other activities; to ensure that relevant activities are performed; to make it clear that the company may raise or receive income from sources other than airport charges; to delete certain obsolete transitional and other provisions; to delete the requirement to submit a business plan to the Shareholding Minister; to delete the restriction on the sale of expropriated land and to further regulate expropriation in accordance with the Expropriation Act, 1975; to refine the provisions regarding certain orders by the Minister and to decriminalise the breach of such order; to adjust the provisions regarding the economic regulation of the company, the sale or closure of certain airports and the curtailment of relevant activities by the company; to further regulate the acquisition or construction of an airport by the company; to enhance the provisions relating to the company’s failure to comply with the Act; to expand the Minister’s specific regulation-making powers; to limit the Minister’s general regulation-making powers; and to amend the long title; and to provide for matters connected therewith.
Table of contents
Legislation Text Access Point
* LegalB refers to a "version" of an Act or its sections in the format "YYYY_NNN_SSS_YYYYMMDD", which refers to "YEAR OF ACT_ACT NUMBER_SECTION OF ACT_DATE OF GAZETTE", and where "DATE OF GAZETTE" refers to the "YEAR_MONTH_DAY" on the face of the Gazette in which either the Act was originally published or in which the amending, lapsing or repealing instrument was published. Where any segment of the reference string contains only zeros, it means that information is not relevant, not made available, or unavailable.
* Unbolded grey text in square brackets is additional information provided by LegalB.
* "..." indicates further information not provided by LegalB for purpose of brevity
* An Asterisk indicates uncertainty regarding information, and a double asterisk indicates information must be read in the light of our relevant Commentary.