This is the version of this Act as it was from 25 April 1997 to 19 January 2015. Read the latest available version.
Taxonomies
- Subject areas > Business, Trade and Industry
- Subject areas > Energy and Natural Resources
- Subject areas > Environment, Climate and Wildlife
- Subject areas > Finance and Money
- Subject areas > Public administration
Related documents
- Is amended by Development Bank of Southern Africa Amendment Act, 2014
South Africa
Development Bank of Southern Africa Act, 1997
Act 13 of 1997
- Published in Government Gazette 17962 on 25 April 1997
- Assented to on 23 April 1997
- Commenced on 25 April 1997
- [This is the version of this document as it was from 25 April 1997 to 19 January 2015.]
1. Interpretation
In this Act, unless the context otherwise indicates—“Bank” means the Development Bank of Southern Africa Limited, reconstituted and incorporated as provided for by section 2;“board” means the board of directors of the Bank mentioned in section 7;“DBSA (1983)” means the Development Bank of Southern Africa, which was established in 1983 by treaty;“effective date” means the date on which this Act comes into operation;“institutional shareholders” means the holders of shares in the Bank, excluding the Government of the Republic and any individual, but including national, international or multilateral institutions;“Minister” means the Minister of Finance or the Minister who for the time being acts in his or her stead;“region” means the national territory of the Republic of South Africa and the national territories of the countries determined by regulation;“regulation” means any regulation made in terms of section 17;“shares” means the shares referred to in section 13;“this Act” includes the regulations.2. Continued existence as juristic person of Development Bank of Southern Africa Limited
3. Objects of Bank
4. Powers of Bank
For the purpose of attaining its objects, the Bank shall have the power—5. Management of affairs of Bank
6. Shareholder meetings
7. Board of Directors
8. Disqualification of directors
No person shall be a director of the board if he or she—9. Tenure and conditions of office of directors
10. Committees of board
11. Meetings
12. Chief executive officer
13. Share capital
14. Expenditure
Expenditure incurred by or on behalf of the board, including any amount owing in respect of the remuneration of the directors and personnel of the Bank, shall be defrayed from the funds of the Bank.15. Dividends
The declaration of dividends shall be authorised by the board and shall be approved by the shareholders.16. Accounts and audit
17. Regulations
The Minister may at the request of the shareholders or the board make regulations as to—18. Transitional arrangements
Notwithstanding anything to the contrary contained in section 7—19. Winding up of Bank
The Bank shall not be wound up except in terms of an Act of Parliament.20. Use of name of Bank
No person, association, corporation or other statutory body or company shall carry on business or be registered under an Act of Parliament, with a name identical to that of the Bank, or so nearly resembling the name of the Bank as to deceive.21. Application to Bank of Companies Act, 1973, and Banks Act, 1990
22. Short title
This Act shall be called the Development Bank of Southern Africa Act, 1997.History of this document
20 January 2015
25 April 1997 this version
Commenced
23 April 1997
Assented to
Cited documents 3
Legislation 3
Documents citing this one 166
Gazette 165
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