South African Social Security Agency Act, 2004 (Act No. 9 of 2004)Chapter 6 : Transitional Provisions23. Assets, liabilities and funds |
| (1) | Whenever the Minister acts under section 24, the Minister must, in conjunction with the executive authority of the designated institution concerned and with the approval of the Minister of Finance, enter into an agreement to ensure that the assets, rights, obligations and liabilities, including the unexpended balance of appropriations, authorisations, allocations and other funds employed, held or used in connection with the management, administration and payment of social security, are transferred to the Agency. |
| (2) | The Registrar of Deeds must make the necessary entries or endorsements for the transfer of any property in terms of subsection (1), and no office fee or other charge is payable in respect of that entry or endorsement. |
| (3) | Any litigation resulting from any cause of action in relation to the assets, rights, obligations or liabilities transferred to the Agency in terms of subsection (1) which arose— |
| (a) | before the transfer date, must be conducted by or against the designated institution concerned; and |
| (b) | on or after the transfer date must be conducted by or against the Agency. |