National Environmental Management: Protected Areas Act, 2003 (Act No. 57 of 2003)Chapter 5 : South African National ParksPart 1 : Continued existence and functions of South African National Parks54. Continued existence |
| (1) | South African National Parks established by section 5 of the National Parks Act, 1976 (Act No. 57 of 1976), continues to exist as a juristic person despite the repeal of that Act by section 90 of this Act. |
| (2) | As from the repeal of the National Parks Act, 1976, South African National Parks functions in terms of this Act. |
| (3) | The South African National Parks may not be wound up or dissolved except by or in terms of an Act of Parliament and by a resolution of a majority of at least two-thirds of all its members. |
[Section 54(3) inserted by section 5 of Act No. 15 of 2009]
| (4) | Upon winding-up or dissolution of the South African National Parks, it remaining assets or the proceeds of those assets, after satisfaction of its liabilities, must be transferred to the State or to an equivalent Schedule 3A Public Entity contemplated in the Public Finance Management Act, 1999 (Act No. 1 of 1999), which has the same objectives as the South African National Parks and which itself is exempt from income tax in terms of section 10 (1)(cA) of the Income Tax Act, 1962 (Act No. 58 of 1962). |
[Section 54(4) inserted by section 5 of Act No. 15 of 2009]
[Section 54 inserted by section 21 of Act No. 31 of 2004]