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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 from 20 January 2015.]
- [Amended by Development Bank of Southern Africa Amendment Act, 2014 (Act 41 of 2014) on 20 January 2015]
1. Interpretation
In this Act, unless the context otherwise indicates—“authorised share capital” means the maximum amount of capital which the Bank is authorised to raise in terms of section 13(1);[definition of “authorised share capital” inserted by section 1(a) of Act 41 of 2014]“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;“callable capital” means the authorised share capital less the issued share capital;[definition of “callable capital” inserted by section 1(b) of Act 41 of 2014]“Companies Act” means the Companies Act, 2008 (Act No. 71 of 2008);[definition of “Companies Act” inserted by section 1(b) of Act 41 of 2014]“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;“issued share capital” means the portion of the authorised share capital which the Bank has issued;[definition of “issued share capital” inserted by section 1(c) of Act 41 of 2014]“Minister” means the Minister of Finance or the Minister who for the time being acts in his or her stead;“region” means the region contemplated in section 2A;[definition of “region” substituted by section 1(d) of Act 41 of 2014]“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
2A. Countries of operation of Bank
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
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 and other legislation
The Minister may, by notice in the Gazette, apply to the Bank any provision of—22. Short title
This Act shall be called the Development Bank of Southern Africa Act, 1997.History of this document
20 January 2015 this version
25 April 1997
23 April 1997
Assented to
Cited documents 3
Legislation 3
1. | Companies Act, 2008 | 1909 citations |
2. | Banks Act, 1990 | 856 citations |
3. | Constitution of the Republic of South Africa, 1996 | 585 citations |
Documents citing this one 166
Gazette 165
Legislation 1
1. | Income Tax Act, 1962 | 1599 citations |