Public Investment Corporation Act, 2004 (Act No. 23 of 2004)2. Establishment of corporation |
| (1) | There is hereby established a juristic person, an institution outside the public service, to be known as the Public Investment Corporation Limited. |
| (2) | The Registrar of Companies must enter the name of the corporation in the register kept in terms of the Companies Act and must issue to the corporation a certificate to that effect. |
| (3) | Despite the Companies Act, the Minister, on behalf of the State, must sign the memorandum of association and the articles of association of the corporation. |
| (4) | On signature of the memorandum of association and the articles of association in terms of subsection (3), such memorandum and articles must be regarded as complying with the requirements of the Companies Act for registration in terms of the said Act. |
| (5) | On receipt of the signed memorandum and articles, the Registrar of Companies must register the said memorandum and articles as contemplated in section 63 of the Companies Act and endorse thereon a certificate to the effect that the corporation is incorporated. |
| 6) | No fees are payable in terms of the Companies Act in respect of the checking of documents, the reservation of name, the registration of the said memorandum and articles and the issue of a certificate to commence business. |
| (7) | Sections 32, 54(2), 66, 92, 190 and 344(d) of the Companies Act do not apply to the corporation. |