South Africa
South African National Water Resources Infrastructure Agency SOC Limited Act, 2024
Act 34 of 2024
- Published in Government Gazette 51163 on 2 September 2024
- Assented to on 27 August 2024
- Not commenced
- [This is the version of this document from 2 September 2024.]
Chapter 1
Definitions and purpose
1. Definitions and interpretation
2. Purpose of Act
The purpose of this Act is—Chapter 2
Establishment of Agency
3. Establishment of Agency
4. Memorandum of Incorporation of Agency
5. Objects of Agency
The objects of the Agency are to develop and manage national water resources infrastructure to—6. Functions of Agency
Chapter 3
Governance of Agency
7. Governance and composition of Board
8. Role of Board
The Board must—9. Principles to guide Board
The Board, as accounting authority of the Agency, is guided by ethical and good governance practices articulated in the legislative prescripts, including the Companies Act and the Public Finance Management Act, as well as the principles in the corporate governance codes of best practice, including the King Reports.10. Appointment of non-executive Board members
11. Chairperson and deputy chairperson
12. Terms of office and conditions of appointment of non-executive Board members
13. Disqualification and removal of Board member
14. Vacancies
15. Shareholder’s compact
16. Establishment of committees
17. Fiduciary duties of Board members
A Board member must in compliance with the provisions of the Companies Act any other applicable legislation and at all times exercise the utmost duty of care and diligence in performing his or her functions.18. Disclosure of interests of Board members
19. Recovery of improper profits
If a Board member contravenes section 18, the Agency or the Minister may, in addition to laying criminal charges, recover from the Board member, through a competent court or by agreement or consent of persons concerned, an amount, paid to that Board member or any other person, which is equivalent to—20. Validity of decisions
21. Delegation of powers and assignment of functions by Board
22. Meetings of Board
Chapter 4
Chief Executive Officer and Chief Financial Officer
23. Appointment and functions of Chief Executive Officer and Chief Financial Officer
24. Terms of office and conditions of appointment of Chief Executive Officer and Chief Financial Officer
25. Appointment of person to act as Chief Executive Officer or Chief Financial Officer
26. Interim Chief Executive Officer
The Minister may appoint an interim Chief Executive Officer for a period of up to two months, within three days of the short-term vacancy of the office of the Chief Executive arising until such appointment as contemplated in section 23(1), sections 25(1) and (2) is executed.27. Suspension from Office of Chief Executive Officer and Chief Financial Officer
Subject to the Labour Relations Act, 1995 (Act No. 66 of 1995), the Minister may, on the recommendation of the Board, suspend the Chief Executive Officer or the Chief Financial Officer from office during any investigation into misconduct against the Chief Executive Officer or the Chief Financial Officer.28. Delegation by Chief Executive Officer
29. Appointment of employees
Chapter 5
Financial matters, reporting and accountability
30. Funds of Agency
31. Government support to Agency and loans by Agency and subsidiaries
32. Annual budget, long-term financial plan and corporate plan
33. Submission of quarterly reports and corporate plans
34. Financial statements and annual report
35. Board to notify Minister of significant events
If any matter arises that might prevent or materially affect the achievement of the objects of the Agency in terms of the corporate plan or financial and performance indicators and targets contained in the corporate plan, the Board must immediately notify the Minister of the existence of such matter.Chapter 6
Transfer of national water resources infrastructure and disestablishment of TCTA
36. Transfer of national water resources infrastructure
37. Disestablishment of TCTA
38. Registering of real rights
The relevant Registrar of Deeds must make the necessary entries, in the register in terms of the Deeds Registration Act, 1937 (Act No. 47 of 1937), of the vesting of any real right of the State in the Agency in terms of this Act.39. Transfer of personal servitude
40. Disposal and transfer of national water resources infrastructure
National water resources infrastructure may not be transferred or disposed of by the Agency without the approval of the Minister if its value exceeds an amount determined from time to time by the Minister by notice in the Gazette with the approval of the Minister of Finance.41. Acquiring State land
Upon request by the Agency, in consultation with the Minister and the Ministers responsible for Public Works or Land Affairs, as the case may be, land may be made available by the State for transfer or registration of a servitude over any State land for the performance of any function by the Agency under this Act.Chapter 7
Powers of Minister
42. Delegation by Minister
43. Additional functions
44. Expropriation by Minister
45. Investigation of Agency
46. Intervention by Minister
47. Regulations
Chapter 8
Miscellaneous provisions
48. Subsidiary company
The Agency may only establish a subsidiary company in terms of the Companies Act—49. Liquidation
Despite any other law, the Agency or any subsidiary company, as the case may be, may not be placed under judicial management or in liquidation, except on the authority of an Act of Parliament adopted specifically for that purpose.50. Documents relating to litigation against Agency
The Agency must provide the Minister with copies of all summonses and applications in its possession relating to any legal proceedings brought against the Agency.51. Transitional provisions and savings
Anything done under the National Water Act and which is still valid at the commencement of this Act, remains in force—52. Offences and penalties
Any person who—53. Short title and commencement
This Act is called the South African National Water Resources Infrastructure Agency SOC Limited Act, 2024, and comes into effect on a date determined by the President by Proclamation in the Gazette.History of this document
02 September 2024 this version
27 August 2024
Assented to
Cited documents 7
Act 7
1. | Deeds Registries Act, 1937 | 2799 citations |
2. | Public Finance Management Act, 1999 | 2218 citations |
3. | Labour Relations Act, 1995 | 1973 citations |
4. | Companies Act, 2008 | 1880 citations |
5. | National Water Act, 1998 | 864 citations |
6. | Expropriation Act, 1975 | 493 citations |
7. | Water Services Act, 1997 | 477 citations |
Documents citing this one 1
Gazette 1
1. | South Africa Government Gazette dated 2024-09-02 number 51163 |