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South Africa
NATIONAL LEGISLATION OVERVIEWS
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Land and Agricultural Development Bank Act, No. 15 of 2002

Long title


To provide for a juristic person known as the Land and Agricultural Development Bank; to provide for the mandate of the Bank; to provide for governance of the Bank; to regulate the management and control of the Bank; to provide for the funding of the Bank; to provide for the business of the Bank; to provide for risk management of the Bank; and to provide for related matters.

Table of contents

SECTION TITLE

PREAMBLE

PART I. FUNDAMENTAL PRINCIPLES AND INTERPRETATION
1. Definitions
2. Continued existence and legal personality of Bank
3. Objects of Bank

PART II. MANAGEMENT OF BANK
4. Control of Bank by Board
5. Functions of Board
6. Board accountability
7. Role of Minister
8. Composition of Board
9. Appointment and term of office of Board member
10. Disqualification
11. Vacating of office by Board member
12. Removal from office of Board member
13. Meetings of Board
14. Conditions of service of Board member
15. Committees of Board
16. Delegation by Board
17. Appointment of Chief Executive Officer
18. Powers and duties of Chief Executive Officer
19. Appointment of staff
20. Appointment of advisers
21. Conflict of interest

PART III. FUNDS AND BUSINESS OF BANK
22. Funds of Bank
23. Investment of funds
24. Power to raise additional funds
25. Distribution of surplus funds
26. Conduct of business and security arrangements
27. Conditions of business
28. Application for advance
29. Substitution of debtors
30. Statutory pledges
31. Change loans
32. Members of society to remain liable

PART IV. RISK MANAGEMENT AND OTHER OPERATIONAL MATTERS
33. Remedies in case of default
34. Application of balance of proceeds of sale
35. Financial management
36. Subsidiaries
37. Joint ventures
38. General operations
39. Transfer of assets
40. Immovable property
41. Preparation and execution of documents and exemption from stamp duties and other fees
42. Fees and charges

PART V. ADMINISTRATIVE AND TRANSITIONAL MATTERS
43. Security of confidential information held by Bank
44. Winding up of Bank
45. Judicial management of Bank
46. Use of name of Bank
47. General offences
48. Penalties
49. Regulations
50. Valuations
51. Inspections on behalf of Bank
52. Transitional matters
53. Repeal of Act 13 of 1944
54. Short title and commencement

Legislation Text Access Point

Versions
[To check whether a version has commenced, and how it was commenced, please see the Timeline for the Act, and the Annotated Text for the version.]
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