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South Africa
NATIONAL LEGISLATION OVERVIEWS
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Development Bank of Southern Africa Amendment Act, No. 41 of 2014

Long title


To amend the Development Bank of Southern Africa Act, 1997, so as to define certain expressions and to amend a definition; to delete an obsolete provision; to provide afresh for the regions in which the Bank may operate; to increase the authorised share capital of the Bank; to align a provision with the terminology in the Companies Act, 2008; to amend the grounds for appointment as a director on the board of the Bank; to amend the provisions regarding the issuing of certificates for issued shares; to enable the Minister to adjust the authorised share capital; to require the shareholders’ approval for subscription by the shareholders to any portion of the balance of the authorised share capital on request of the board; to amend the power of the Minister to make regulations by amending the introductory provision, empowering the Minister to regulate the use of callable capital of the Bank to calculate the leverage ratio of the Bank, omitting the provision empowering the Minister to determine the region in which the Bank may operate and limiting the general regulation-making power to ensure constitutionality; to adjust the provision enabling the application to the Bank of any provision of the Companies Act, 2008, the Banks Act, 1990, and any other appropriate legislation; and to amend the Preamble; and to provide for matters connected therewith.

Table of contents

SECTION TITLE
1. Amendment of section 1 of Act 13 of 1997
2. Amendment of section 2 of Act 13 of 1997
3. Insertion of section 2A in Act 13 of 1997
4. Amendment of section 7 of Act 13 of 1997
5. Amendment of section 8 of Act 13 of 1997
6. Amendment of section 13 of Act 13 of 1997
7. Substitution of section 17 of Act 13 of 1997
8. Substitution of section 21 of Act 13 of 1997
9. Substitution of Preamble to Act 13 of 1997
10. Short title
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