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South Africa
NATIONAL LEGISLATION OVERVIEWS

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South African Postbank (SOC) Limited Act, No. 9 of 2010
[... Title amended by Act 2023_010_019_20230927 - was entitled "South African Postbank Limited Act, 2010"]

NOTE: Assented to and published in English, with alternative copy in _, except iro title/text/engrossments in the following sections: s_ (_/_/_)

Long title


To provide for the incorporation of the Postbank Division of the South African Post Office; to provide for the transfer of the enterprise of that Division to the Postbank company; to provide for the governance and functions of the Postbank company; to provide for the transfer in shareholding from the South African Post Office to Government through the creation of a bank controlling company for The Postbank SOC Limited in terms of the Banks Act, 1990; and to provide for matters connected therewith.

[...Long title amended by Act 2023_010_017_20230927 by way of unmarked omission and marked insertion]
 
Table of contents

SECTION TITLE
ARRANGEMENT OF SECTIONS
CHAPTER I. INTERPRETATION AND OBJECT OF ACT
1. Definitions
2. Object of Act
CHAPTER II. INCORPORATION AND TRANSFER OF ENTERPRISE
3. Incorporation
4. ... [...repealed by Act 2013_044_003_20140128 - was entitled "Registration as Bank"].
5. Determination of extent of business to be transferred
6. Determination of transfer date of enterprise
7. Transfer of enterprise of former Postbank to Company, vesting and consequence thereof
8. ... [...repealed by Act 2013_044_003_20140128 - was entitled "Exemption from tax liability"]
CHAPTER III. POWERS AND DUTIES OF COMPANY
9. Powers and duties of Company 
CHAPTER IV. CONTROL AND MANAGEMENT OF COMPANY
10. Control of Company by Board
11. Functions of Board
12. Composition of Board 
13. Disclosure and disqualification from membership of Board
14. Appointment of members of Board
15. Resignation, removal from office and vacating of office
15A. Functions of bank controlling company [... inserted by Act 2023_010_008_20230927]
16. Disclosure and fiduciary duties of Board members
17. Procedures at meetings, and committees of Board*
18. Appointment of chief executive officer and chief financial officer [... Title amended by Act 2023_010_009_20230927 - was entitled "Appointment of managing director"]
19. Conditions of appointment of chief executive officer and chief financial officer  [... Title amended by Act 2023_010_010_20230927 - was entitled "Conditions of appointment of managing director"]
20. Personnel of Company
20A. Bank controlling company's organisational structure [... inserted by Act 2023_010_010_20230927]
CHAPTER V. FUNDS AND FINANCIAL ACCOUNTS OF COMPANY
21. Annual report
22. Funds of Company and bank controlling company [... Title amended by Act 2023_010_013_20230927 - was entitled "Funds of Company"]
23. Inspection of [ financial ] accounts and documents of Company and bank controlling company [  " ] [... Title amended by Act 2023_010_014_20230927 - was entitled "Inspection of accounts and documents of Company [ * ]"]
24. Application of Public Finance Management Act
CHAPTER VI. GENERAL AND MISCELLANEOUS
25. Intervention by Minister
26. Regulations and policy
26A. Application of Banks Act [...inserted by Act 2013_044_012_20140128]
27. Non-application of provision of Companies Act
28. Exemption from certain provisions of Companies Act [... Title amended by Act 2023_010_016_20230927 - was entitled "Certain provisions of Companies Act may be declared inapplicable to Company"]
29. Offences
30. Transitional provisions
31. Repeal of laws
32. Short title and commencement
Sch. 1. SCHEDULE 1. REPEAL OF LAWS [s31]
...... [sic - no Sch2]

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