The District Development Corporation Act

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CHAPTER 382
THE DISTRICT DEVELOPMENT CORPORATIONS ACT
[PRINCIPAL LEGISLATION]
Arrangement of Sections
Section Title
part i
PRELIMINARY PROVISIONS
1. Short title. 2. Interpretation. part ii
DISTRICT DEVELOPMENT CORPORATIONS
3. Local authorities to establish District Development Corporations. 4. Shareholding in District Development Corporations. 5. Power of District Development Corporations. 6. Establishment of District Development Corporations. 7. Appointment of General Manager and other employees of
District Development Corporation. 8. Salaries, etc., to be paid out of District Development Corporation’s funds. 9. Annual report. 10. Local government authority may give directions. 11. Establishment of office. 12. Repealed. 13. Accounts and audit. part iii
DISSOLUTION OF DISTRICT DEVELOPMENT CORPORATIONS
14. Power of local government authority to dissolve District
Development Corporations. 15. Rights of shareholders. 16. Employees of District Development Corporations.

al government authority to dissolve District
Development Corporations. 15. Rights of shareholders. 16. Employees of District Development Corporations.

part iv
REGIONAL DEVELOPMENT CORPORATIONS AND REORGANISATION
OF DISTRICT DEVELOPMENT CORPORATIONS
17. Minister may establish Regional Development Corporations. 18. Shareholding in Regional Development Corporations.

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THE DISTRICT DEVELOPMENT CORPORATIONS ACT [CAP. 382 R.E. 2023]
19. Application of other provisions of this Act.
20. Power to reorganize District Development Corporations.
part v
MISCELLANEOUS PROVISIONS
21. Delegation of powers.
22. Regulations.
23. Local government authority may make consequential provisions.
24. Consequential and transitional provisions and vesting of shares.
SCHEDULE

tions.
23. Local government authority may make consequential provisions.
24. Consequential and transitional provisions and vesting of shares.
SCHEDULE

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PART I
PRELIMINARY PROVISIONS
1. This Act may be cited as the District Development
Corporations Act. 2.–(1) In this Act, unless the context otherwise requires-
“district” means all the area which is wholly within the
jurisdiction of a local authority;
“District Corporation” means any public corporation
established for any district, or any two or more districts,
by an order made under section 3;
“District Development Corporation” means any company
registered under the Companies Act to carry on business of
any description within the jurisdiction of a local authority
and-
(a) the whole or any part of the share capital of which is
vested in a local authority; or
(b) the management of which is vested in a local authority;
“local authority” means a district authority established under
the Local Government (District Authorities) Act, or an
urban authority established under the Local Government
(Urban Authorities) Act;
Short title
Act No. 6 of 1999 s. 105
Interpretation
Acts Nos. 18 of 1978 s. 2
3 of 1986; sch. 6 of 1999 s. 106
Cap. 212
Cap. 287
Cap.

uthorities) Act;
Short title
Act No. 6 of 1999 s. 105
Interpretation
Acts Nos. 18 of 1978 s. 2
3 of 1986; sch. 6 of 1999 s. 106
Cap. 212
Cap. 287
Cap.

288
CHAPTER 382
THE DISTRICT DEVELOPMENT CORPORATIONS ACT
An Act to confer upon the Minister power to establish District Development
Corporations, to provide for the functions of District Development
Corporations, and for related matters. [8th March, 1974]
[GN. No. 64 of 1974]
Acts Nos. 16 of 1973
18 of 1978
3 of 1986
6 of 1999

District Development
Corporations, and for related matters. [8th March, 1974]
[GN. No. 64 of 1974]
Acts Nos. 16 of 1973
18 of 1978
3 of 1986
6 of 1999

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THE DISTRICT DEVELOPMENT CORPORATIONS ACT [CAP. 382 R.E. 2023]
“Minister” means the minister for the time being responsible
for regional administration and local government. (2) A District Development Corporation shall be deemed
to be carrying on business within a district if its principal
place of business is within the district or if such business
is being predominantly carried on, within the district or
notwithstanding that such Corporation carries on any ancillary
or incidental business in any other district or districts. PART II
DISTRICT DEVELOPMENT CORPORATIONS
3.–(1) A local government authority or two or more local
government authorities may, by instrument establish a district
development corporation for the carrying on of the commercial
or industrial activity or enterprise which may be specified in
the establishment instrument.

lopment corporation for the carrying on of the commercial
or industrial activity or enterprise which may be specified in
the establishment instrument.

(2) Every District Development Corporation established by
an order made under this section shall-
(a) be known as the District Development Corporation of
the district or districts for which it is established, or by
such other name as the Minister may direct, and shall
have perpetual succession and common seal;
(b) in its corporate name, be capable of suing and being
sued; and
(c) subject to the provisions of this Act, be capable of
holding purchasing or otherwise acquiring, and
disposing of, any property, movable or immovable,
for the purposes of carrying out the functions
conferred upon it by or under this Act or any other
written law. (3) Every order made under this section establishing a
District Development Corporation shall specify the district
or districts for which it is established and the functions of the
Corporation. Local authorities
to establish
District
Development
Corporations
Act No. 6 of 1999
s.107

which it is established and the functions of the
Corporation. Local authorities
to establish
District
Development
Corporations
Act No. 6 of 1999
s.107

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THE DISTRICT DEVELOPMENT CORPORATIONS ACT [CAP. 382 R.E. 2023]
4. Where a District Development Corporation is established
under section 3, the local authority of the district or local
authorities of the districts for which the Corporation is
established shall subscribe for all the shares of the Corporation. 5.–(1) Every District Development Corporation established
under this Act shall have the power, for the purpose of carrying
out its functions, to do all such acts and things as appear to be
necessary, advantageous or convenient for or in connection
with the proper discharge of those functions or to be incidental
or conducive to such discharge, and may, with the approval of
the Minister, carry on any activity in that behalf in association
with the Government, a local authority, another District
Development Corporation, a co-operative society or any other
person or body of persons.

ation
with the Government, a local authority, another District
Development Corporation, a co-operative society or any other
person or body of persons.

(2) The Minister may, by order published in the Gazette,
confer upon a District Development Corporation powers
additional to the powers conferred upon it by this section,
and any such order may prescribe restrictions, limitations or
conditions subject to which such additional powers may be
exercised. (3) Every District Development Corporation shall have the
power, with the consent and subject to the directions of the
Minister, to borrow money for the purpose of the carrying out
of its functions:
Provided that, the person lending money to a District
Development Corporation shall not be required or bound
to enquire whether such consent has been given or any such
direction has been complied with. 6. Where a local government authority or authorities establish
any district corporation under the provisions of this Act; the
local government authority or authorities shall, by regulation
provide for the management of the District Corporation. Shareholding
in District
Development
Corporations
Acts Nos. 18 of 1978 s. 3
6 of 1999 s. 108
Power of District
Development
Corporations
Establishment
of District
Development
Corporations
Acts Nos. 18 of 1978 s. 4
6 of 1999 s. 109

f 1999 s. 108
Power of District
Development
Corporations
Establishment
of District
Development
Corporations
Acts Nos. 18 of 1978 s. 4
6 of 1999 s. 109

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THE DISTRICT DEVELOPMENT CORPORATIONS ACT [CAP. 382 R.E. 2023]
7.–(1) The local government authority shall appoint for each
District Development Corporation a suitable person to be the
General Manager of the Corporation. (2) The local government authority may delegate his
functions under subsection (1) of this section to a Regional
Commissioner in accordance with the provisions of section 21
of this Act. (3) The General Manager of every District Development
Corporation shall be the chief executive officer of the
Corporation and shall be responsible to the Board of Directors
of the Corporation in the management of the affairs of the
Corporation. (4) The terms and conditions of service of the General
Manager shall be as the local government authority may
specify in relation to his office.

tion. (4) The terms and conditions of service of the General
Manager shall be as the local government authority may
specify in relation to his office.

(5) Subject to the provisions of sections 11 and 12 of this
Act, the Board of Directors of every District Development
Corporation may, appoint such other employees of the
Corporation as it may consider necessary for the carrying out
of the functions of the Corporation. [s. 6A]
8.–(1) Every District Development Corporation shall apply its
funds for the following purposes-
(a) the payment of all the salaries, fees and other allowances
payable to employees of the Corporation and members
of the Board of Directors:
Provided that, no remuneration, fees or other allowances
for expenses as may be expressly authorised by the local
government authority, shall be paid to any member of the
Board of Directors who is a public officer;
(b) the payment of the expenses and other charges
duly incurred by the Corporation or for which the
Corporation becomes liable in the course of the
performance of its functions;
Appointment
of General
Manager and
other employees
of District
Development
Corporation
Acts Nos. 18 of 1978 s. 4
6 of 1999 s. 110
Salaries, etc.,
to be paid out
of District
Development
Corporation’s
funds
Acts Nos. 18 of 1978 s. 4
6 of 1999 s. 111

18 of 1978 s. 4
6 of 1999 s. 110
Salaries, etc.,
to be paid out
of District
Development
Corporation’s
funds
Acts Nos. 18 of 1978 s. 4
6 of 1999 s. 111

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THE DISTRICT DEVELOPMENT CORPORATIONS ACT [CAP. 382 R.E. 2023]
(c) such other purposes as the Board of Directors may
approve. (2) The Board of Directors of every District Development
Corporation may invest all or any portion of any moneys
which are surplus to its requirements in such securities as may
be approved by the local government authority. [s. 6B]
9.–(1) Board of Directors of every District Development
Corporation shall, within six months after the close of each
financial year, cause to be prepared a report on the activities
and operations of the Corporation during that year. (2) Every report prepared pursuant to the provisions of
subsection (1) of this section shall be submitted to the local
government authority together with a copy of the audited
statement of accounts and the auditor’s report, if any, referred
to in subsection (3) of section 13 of this Act. [s. 6C]
10.

ith a copy of the audited
statement of accounts and the auditor’s report, if any, referred
to in subsection (3) of section 13 of this Act. [s. 6C]
10.

The local government authority may give to any person
or body of persons entrusted with the management of any
District Development Corporation directions of a general or
specific character as to the exercise and performance by such
person or body of persons of his or their functions, and every
such direction shall be given effect to accordingly. 11. Subject to such exceptions as a local government authority
may in any case allow, no district corporation shall establish
an office for the corporation without the written consent of the
local government authority. [s. 8]
12. [Repealed by Act No. 6 of 1999 s. 115.]
[s. 9]
Annual report
Acts Nos. 18 of 1978 s. 4
6 of 1999 s. 112
Local government
authority may
give directions
Act No. 6 of 1999 s. 113
Establishment of
office
Act No. 6 of 1999 s. 114
Repealed

. 4
6 of 1999 s. 112
Local government
authority may
give directions
Act No. 6 of 1999 s. 113
Establishment of
office
Act No. 6 of 1999 s. 114
Repealed

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THE DISTRICT DEVELOPMENT CORPORATIONS ACT [CAP. 382 R.E. 2023]
13.–(1) Every District Development Corporation shall keep
and maintain proper accounts and other records in relation
thereto, and shall in respect of each financial year of the
Corporation, prepare a statement of accounts in such manner
and in such form as the local government authority may direct. (2) The local government authority shall give directions as
to the proper audit of the accounts of the District Development
Corporations. (3) As soon as the accounts of a District Development
Corporation have been audited, and in any case not later than
six months from the date of the completion of such audit, the
person or body of persons entrusted with the management
of the Corporation shall send a copy of any report made by
the auditors to the local government authority, and the local
government authority shall lay or cause to be laid a copy of
every such statement of accounts and auditor’s report before
the National Assembly and may cause the same to be published
for general information.

of
every such statement of accounts and auditor’s report before
the National Assembly and may cause the same to be published
for general information.

[s. 10]
PART III
DISSOLUTION OF DISTRICT
DEVELOPMENT CORPORATIONS
14.–(1) The local government authority may, by order published
in the Gazette, dissolve any District Development Corporation
and from the date specified in the order (hereinafter referred to
as “the effective date”) the District Development Corporation
named in the order shall cease to exist and shall cease to
perform the functions conferred upon it. (2) Where an order is made under subsection (1), all
the assets and liabilities which were vested in the District
Development Corporation immediately before the effective
date shall, by virtue of this section and without further
assurance, vest in the United Republic. Accounts and
audit
Act No. 6 of 1999 s. 116
Power of local
government
authority to
dissolve District
Development
Corporations
Act No. 6 of 1999 s. 117

Accounts and
audit
Act No. 6 of 1999 s. 116
Power of local
government
authority to
dissolve District
Development
Corporations
Act No. 6 of 1999 s. 117

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THE DISTRICT DEVELOPMENT CORPORATIONS ACT [CAP. 382 R.E. 2023]
(3) Notwithstanding the provisions of subsection (2), the
local government authority may, by order published in the
Gazette-
(a) vest any function or power of the former District
Development Corporation in any person or body of
persons specified in the order and upon such order
being made, such person or body of persons may,
subject to the direction of the local government
authority, exercise such function or power in the same
manner and to the same extent as it could have been
exercised by the District Development Corporation
before the effective date;
(b) transfer any asset or liability of the District Development
Corporation to any person or body of persons specified
in the order, and upon such order being made, the asset
or liability shall, by virtue of such order and without
further assurance, vest in the person or body of persons
with effect from the date specified in the order.

shall, by virtue of such order and without
further assurance, vest in the person or body of persons
with effect from the date specified in the order.

(4) Where any asset or liability of the District Development
Corporation consists of or is evidenced by any right or claim
under any contract, guarantee, bill of exchange, promissory
note, cheque, agreement or any other instrument to which the
District Development Corporation is a party, such instrument
shall, in the event of the dissolution of the District Development
Corporation under this Act, take effect as if-
(a) where no order under paragraph (b) of subsection
(3) has been made in respect of such asset or liability
or until such time as the order is made, the local
government authority were substituted for the District
Development Corporation as a party thereto;
(b) in the event of an order under paragraph (b) of
subsection (3) being made in respect of such asset or
liability, the person or body of persons specified in the
order were substituted as a party thereto. (5) This section shall not apply to any right or liability under
any contract of service under which any person was employed

tuted as a party thereto. (5) This section shall not apply to any right or liability under
any contract of service under which any person was employed

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THE DISTRICT DEVELOPMENT CORPORATIONS ACT [CAP. 382 R.E. 2023]
by a District Development Corporation immediately before
the effective date. (6) The provisions of this section shall apply notwithstanding
the provisions of the Companies Act. [s. 11]
15.–(1) In the event of the dissolution of any district
development corporation under the provisions of this Act, the
local government authority shall as soon as may be practicable
after the effective date, cause the accounts and activities of
the district development corporation to be fully examined by
auditors appointed by the local government authority and the
auditors shall prepare or cause to be prepared audited balance
sheets of the corporation and profit and loss accounts for the
period expiring on the effective date and the auditors shall
submit their report of the balance sheets and profit and loss
account to the local government authority.

on the effective date and the auditors shall
submit their report of the balance sheets and profit and loss
account to the local government authority.

(2) Every determination made by the local government
authority under subsection (1) shall be certified by him in
writing and the contents thereof shall be communicated to the
member or members concerned. (3) Where the local government authority in exercise of the
powers conferred upon him by this section has certified that
any sum of money be paid to any such former member by way
of compensation, such sum of money shall constitute a charge
on and be paid out of the funds of the local authority. (4) Compensation payable under this section shall be paid in
such manner and by such instalments as the local government
authority may direct. (5) Subject to the provisions of this section no former
member of a District Development Corporation shall be
entitled to any compensation or other payment by reason of
the dissolution of a District Development Corporation and the
vesting of its assets and liabilities in the United Republic or by
reason of such dissolution and the transfer of the assets and
Cap. 212
Rights of
shareholders
Act No. 6 of 1999 s. 118

es in the United Republic or by
reason of such dissolution and the transfer of the assets and
Cap. 212
Rights of
shareholders
Act No. 6 of 1999 s. 118

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THE DISTRICT DEVELOPMENT CORPORATIONS ACT [CAP. 382 R.E. 2023]
liabilities of the former District Development Corporation to
any person or body of persons. [s. 12]
16.–(1) Where a local government authority dissolves any
district development corporation under this Act, local
government authority may, by order in the Gazette, determine
the rights and privileges of any employee of that district
development corporation.

local
government authority may, by order in the Gazette, determine
the rights and privileges of any employee of that district
development corporation.

(2) Where by any order made under this section, the
Minister transfers any person in consequence of the dissolution
of a District Development Corporation to the service of any
existing District Development Corporation or any District
Corporation-
(a) such person shall, as from the effective date, be
deemed to be an employee of the District Development
Corporation or, as the case may be, the District
Corporation to which he is transferred;
(b) the terms and conditions applicable to such employee
after such transfer shall not be less favourable than
those which were applicable to him immediately before
the transfer, and for the purposes of determining
any right to gratuity or any other superannuation
benefit the service of such employee with the District
Development Corporation or, as the case may be, the
District Corporation to which he is transferred shall be
regarded as continuous with his service immediately
before the transfer; and
(c) the employment of such employee immediately prior
to his transfer and his employment by the District
Development Corporation or, as the case may be, the
District Corporation to which he is transferred shall be
deemed to be continuous employment by one employer
in accordance with the provisions of the Employment
and Labor Relations Act.

s transferred shall be
deemed to be continuous employment by one employer
in accordance with the provisions of the Employment
and Labor Relations Act.

[s. 13]
Employees
of District
Development
Corporations
Act No. 6 of 1999 s. 119
Cap. 366

[s. 13]
Employees
of District
Development
Corporations
Act No. 6 of 1999 s. 119
Cap. 366

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THE DISTRICT DEVELOPMENT CORPORATIONS ACT [CAP. 382 R.E. 2023]
PART IV
REGIONAL DEVELOPMENT CORPORATIONS
AND REORGANISATION OF DISTRICT
DEVELOPMENT CORPORATIONS
17.–(1) Where in regard to any Region it appears that it is
necessary or expedient in the public interest that a public
corporation should be established for the Region in addition
to, or in lieu of, any District Development Corporation or
District Development Corporations existing in that Region,
the Minister may, either on his own initiative and after
consultation with the local authorities of the districts in that
Region or at the request of those authorities or of the Regional
Development Committee of the Region, by order in the Gazette,
establish for that Region a Regional Development Corporation
for the carrying on of such commercial or industrial activity or
enterprise as may be specified in the order.

egion a Regional Development Corporation
for the carrying on of such commercial or industrial activity or
enterprise as may be specified in the order.

(2) Every Regional Development Corporation established
by an order made under this section shall-
(a) be known as the Regional Development Corporation
of the Region for which it is established or by such
other name as the Minister shall specify, and shall have
perpetual succession and an official seal;
(b) in its corporate name, be capable of suing and being
sued;
(c) subject to the provisions of this Act, be capable of
holding, purchasing or in any other way acquiring, and
disposing of, any property, movable or immovable, for
the purposes of carrying out the functions conferred
upon it by this Act, or by any other written law. (3) Every order made under this section establishing
a Regional Development Corporation shall specify the
Region for which it is established and the functions of the
Corporation. [s. 13A]
Minister may
establish Regional
Development
Corporations
Act No. 18 of 1978 s. 5

hich it is established and the functions of the
Corporation. [s. 13A]
Minister may
establish Regional
Development
Corporations
Act No. 18 of 1978 s. 5

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THE DISTRICT DEVELOPMENT CORPORATIONS ACT [CAP. 382 R.E. 2023]
18. Where the Minister establishes a Regional Development
Corporation, the local authorities of the districts in the Region
for which the Corporation is established shall subscribe for all
the shares of the Corporation. [s. 13B]
19. All the other provisions of this Act relating to District
Development Corporations shall apply with necessary
modifications and to the extent that they are applicable
in relation to every Regional Development Corporation
established under this Act.

h necessary
modifications and to the extent that they are applicable
in relation to every Regional Development Corporation
established under this Act.

20.–(1) Where the Minister has established or establishes a
Regional Development Corporation for the performance of
any functions and the Minister is satisfied that there exists
within the Region a District Development Corporation for
the performance of all or any of the functions for which the
Regional Development Corporation is or has been established,
the Minister may, either on his own initiative and after
consultation with the local authority of the district for which
the District Development Corporation has been established
or at the request of that local authority or of the Regional
Development Committee, by order in the Gazette-
(a) provide that the District Development Corporation
shall cease to exist or shall cease to perform all or any
of the functions which are conferred upon the Regional
Development Corporation;
(b) transfer any asset or liability of the District Development
Corporation to the Regional Development Corporation;
(c) transfer any person who is an employee of the District
Development Corporation to the service of the
Regional Development Corporation.

orporation;
(c) transfer any person who is an employee of the District
Development Corporation to the service of the
Regional Development Corporation.

(2) Where, by an order made under this section the
Minister vests any asset or liability of a District Development
Corporation in any Regional Development Corporation, the
Shareholding
in Regional
Development
Corporations
Act No. 18 of 1978 s. 5
Application of
other provisions
of this Act
Act No. 18 of 1978 s. 5
Power to
reorganize
District
Development
Corporations
Act No. 18 of 1978 s. 5

s. 5
Application of
other provisions
of this Act
Act No. 18 of 1978 s. 5
Power to
reorganize
District
Development
Corporations
Act No. 18 of 1978 s. 5

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THE DISTRICT DEVELOPMENT CORPORATIONS ACT [CAP. 382 R.E. 2023]
asset or liability to which the order relates shall, by virtue of
that order and without further assurance, vest in the Regional
Development Corporation.

et or liability to which the order relates shall, by virtue of
that order and without further assurance, vest in the Regional
Development Corporation.

(3) Where, by an order made under this section, the Minister
transfers any employee of a District Corporation to the service
of a Regional Development Corporation-
(a) the employee shall, from the date of the transfer, be
deemed to be an employee of the Regional Development
Corporation;
(b) the terms and conditions of service applicable to the
employee after the transfer shall not be less favourable
than those which were applicable to him immediately
before the transfer, and for the purpose of determining
any right to gratuity or any other superannuation
benefit, the service of the employee with the Regional
Development Corporation shall be regarded as
continuous with his service immediately preceding the
transfer; and
(c) the employment of the employee by the District
Development Corporation immediately prior to
the transfer and his employment by the Regional
Development Corporation shall be deemed to be
continuous employment by one employer in accordance
with the provisions of the Employment and Labor
Relations Act.

t Corporation shall be deemed to be
continuous employment by one employer in accordance
with the provisions of the Employment and Labor
Relations Act.

(4) Where, by an order made under this section, the
Minister vests any asset or liability of a District Development
Corporation in a Regional Development Corporation,
under any contract, guarantee, agreement, bond, authority,
mortgage, charge, bill of exchange, promissory note, bank
draft, bank cheque, letter of credit or any other security
or instrument, and may provide for the substitution of the
Regional Development Corporation as the party to the
security or instrument. Cap. 366

urity
or instrument, and may provide for the substitution of the
Regional Development Corporation as the party to the
security or instrument. Cap. 366

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THE DISTRICT DEVELOPMENT CORPORATIONS ACT [CAP. 382 R.E. 2023]
(5) The Minister may, in any order made under this section,
make such supplementary, transitional or consequential
provisions as he may deem necessary to give effect to the
order. [s. 13D]
PART V
MISCELLANEOUS PROVISIONS
21.–(1) The Minister, or the local government authority
may, by order published in the Gazette, delegate any of their
functions under this Act to any public officer. (2) Notwithstanding subsection (1), the Minister or the local
government authority, shall not delegate the power to establish
or dissolve a district or regional development corporation. 22.–(1) The Minister may make regulations generally for the
better carrying out of the provisions of this Act and, without
prejudice to this generality, may also make specific regulations
in respect of anything which is permitted or required by this
Act to be prescribed.

t
prejudice to this generality, may also make specific regulations
in respect of anything which is permitted or required by this
Act to be prescribed.

(2) All regulations made under this section shall be
published in the Gazette and may be applicable to all
District Development Corporations or any specified District
Development Corporation. 23. The local government authority may, where he dissolves
any District Development Corporation, at any time before
the expiry of six months from the effective date, by order
in the Gazette, make such consequential, transitional and
supplementary provisions as he may consider necessary or
expedient upon the dissolution of any District Development
Corporation. [s. 16]
Delegation of
powers
Act No. 6 of 1999 s. 120
Regulations
Act No. 18 of 1978 s. 6
Local government
authority
may make
consequential
provisions
Act No. 6 of 1999 s. 121

ers
Act No. 6 of 1999 s. 120
Regulations
Act No. 18 of 1978 s. 6
Local government
authority
may make
consequential
provisions
Act No. 6 of 1999 s. 121

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THE DISTRICT DEVELOPMENT CORPORATIONS ACT [CAP. 382 R.E. 2023]
24. All the shares of the Government of the United Republic
in every District Development Corporation established under
this Act subsisting upon the commencement of this Act shall,
by virtue of the provisions of this section and without further
assurance, vest in the local authority or local authorities
of the district or, as the case may be, districts for which the
corporation was established.
SCHEDULE
[Omitted]
Consequential
and transitional
provisions and
vesting of shares
Act No.
18 of 1978 s. 7