To amend the Alexkor Limited Act, 1992, so as to provide afresh for the sale or disposal of shares held by the State in Alexkor Limited; and to provide for matters connected therewith.
BE IT ENACTED by the Parliament of the Republic of South Africa, as follows:-
Amendment of section 4 of Act 116 of 1992
Section 4 of the Alexkor Limited Act, 1992, is hereby amended by the substitution for subsection (3) of the following subsection:
“(3)(a) The Minister may, with the concurrence of the Minister of Finance, sell or otherwise dispose of shares in the company to any person.
(b) The conditions as to shareholding in the company must be determined by the Minister subject to approval by the Cabinet.”.
Short title
This Act is called the Alexkor Limited Amendment Act, 2001.