Regional Councils Act, 1992
Commercialisation Regulations, 2001
Government Notice 41 of 2001
- Published in Government Gazette 2492 on 5 March 2001
- Commenced on 5 March 2001
- [This is the version of this document at 15 November 2017.]
- [Note: The version of this legislation as at 15 November 2017 was revised and consolidated by the Legal Assistance Centre and the Government of the Republic of Namibia. All subsequent amendments have been researched and applied by Laws.Africa for NamibLII.]
1. DefinitionsIn these regulations, unless the context otherwise indicates, any word or expression defined in the Act has a corresponding meaning, and-“commercialise” means the commercialising of any service, function or duty in accordance with regulation 3;“commercialised business” means any service, function or duty in accordance with regulation 3;“pool” means the input, subject to the conditions imposed by the Minister under regulation 2, at any time by a region al council into a company conducting a commercialised business by way of the providing of labour or other services, or the supply of materials or equipment, free of charge, or the making of a cash payment or a loan to, or the entering into a lease agreement with, the company, including the furnishing of a guarantee in terms of section 28(1)(k) of the Act; and“the Act” means the Regional Councils Act, 1992 (Act No. 22 of 1992).
2. Commercialisation by regional council
3. Form and manner of Commercialisation[The word “commercialisation” should not be capitalised.]A regional council may commercialise, subject to the conditions imposed by the Minister under regulation 2, any service rendered, function exercised or duty carried out by the regional council, by means of-
4. Alienation or encumbrance of shares and assets, and pooling of resources, services and property
5. Amendment or alteration of statutes and articles of association, trust deed, shares or interest structure, or nature of operations, of company conducting a commercialised businessThe statutes and articles of association of a company referred to in regulation 3 conducting a commercialised business, must prove that, or must be amended to provide that, irrespective of the voting power of the regional council on the board of directors of the company, the statutes or articles of association may not be amended or the share structure altered, including the transfer of ownership in shares, or the nature of operations of the company conducting the commercialised business, including the risks pertaining thereto, may not be changed without the prior written approval of the regional council, which approval may only be granted in consultation with the Minister, and which approval must be entered into the minutes of the company concerned.
6. Audit of accounting records and financial statements of commercialised business
7. Member or staff member of regional council not to be employed by company
8. GeneralNothing in these regulations prevents a regional council from acquiring or from registering a company in accordance with regulation 3 for the purpose of conducting a commercialised business, with objectives, powers, functions or purposes which are identical or similar to, or which are in competition or in conflict with, the objectives, functions or purposes of any of the regional council’s own operations, if the conducting of the commercialised business by the company so acquired or registered by the regional council, may serve to improve the efficiency or effectiveness of any of the own operations of the regional council.
History of this document
15 November 2017 this version
05 March 2001