Industrial Development Amendment Act 96 of 1980

Industrial Development Amendment Act, 1980 (No. 96 of 1980)

GENERAL EXPLANATORY NOTE:
__ Words underlined with solid line indicate insertions in existing enactments.

Act

• to amend the Industrial Development Act, 1940, so as to provide for the establishment or acquisition and the conducting by the Industrial Development Corporation of South Africa, Limited, of business and service undertakings in areas designated for that purpose by the Minister; and
• to provide for incidental matters.

(English text signed by the State President.)
(Assented to 1 July 1980.) 

BE IT ENACTED by the State President, the Senate and the House of Assembly of the Republic of South Africa, as follows:-

Insertion of section 3bis in Act 22 of 1940.

1. The following section is hereby inserted in the Industrial Development Act, 1940 (hereinafter referred to as the principal Act), after section 3:

"Additional object of corporation in respect of areas designated by Minister.

3bis. Notwithstanding anything to the contrary in this Act or any other law contained the corporation may in any area designated for that purpose by the Minister, provided that such area shall have a community council established under section 2 of the Community Councils Act, 1977 (Act No. 125 of 1977), establish or acquire and carry on any business or service undertaking.''.

Amendment of section 4 of Act 22 of 1940, as amended by section 2 of Act 67 of 1961, section 3 of Act 52 of 1964 and section 1 of Act 47 of 1975.

2. Section 4 of the principal Act is hereby amended by the insertion after paragraph (h) of the following paragraph:

''(i) in any area designated in terms of section 3bis to establish or acquire and carry on any business or service undertaking, and to provide capital or other means and furnish technical and other assistance and expert and specialized advice, information and guidance,''. 

Insertion of section 5quat in Act 22 of 1940.

3. The following section is hereby inserted in the principal Act after section 5ter:

"Power of Minister and corporation.

5quat. Any power conferred upon the Minister or the corporation in terms of this Act in respect of any industrial undertaking may mutatis mutandis be exercised in respect of any business or service undertaking referred to in section 4 (i).".

Short title.

4. This Act shall be called the Industrial Development Amendment Act, 1980.

Commencement

1 August 1980