National Empowerment Fund Act 105 of 1998

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105 of 1998

The National Empowerment Fund Act 105 of 1998 intends:

to establish a trust for the promotion and facilitation of ownership of income generating assets by historically disadvantaged persons;
to set out the objects of the trust;
to provide for the powers, appointment and mode of operation of the trustees;
to provide for the establishment of other investment entities for the attainment of the objects;
to provide for the powers of the Minister to give implementation directives;
to provide for the sale of shares in State Owned Commercial Enterprises at a discount to the trust or by the trust to the beneficiaries;
to provide for the control of the financial affairs of the trust;
to provide for the establishment of an investment holding company by the trust;
to provide for the promtdgation of regulations;
to provide for the dissolution of the trust; and
to provide for other incidental matters.

29 October 1999 (Gazette 20576 of 29 October 1999)