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    Air Botswana (Transition)

    Uploaded by

    Shumba Mutumwa
    This document summarizes the Air Botswana (Transition) Act, which provides for the registration of Air Botswana as a public company under the Companies Act. It allows for Air Botswana to continue existing as if it had been incorporated under that Act. Key points include: - Air Botswana can apply to the Registrar to be registered as a public company. Upon registration, it will continue to exist as if incorporated under the Companies Act. - The financial interest of the Government in Air Botswana will be converted to issued shares in the capital of the company, held by the Minister in trust for Botswana. - All assets and liabilities of Air Botswana will become those of the company.

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    © All Rights Reserved
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    Air Botswana (Transition)

    Uploaded by

    Shumba Mutumwa
    49 views3 pages
    This document summarizes the Air Botswana (Transition) Act, which provides for the registration of Air Botswana as a public company under the Companies Act. It allows for Air Botswana to continue existing as if it had been incorporated under that Act. Key points include: - Air Botswana can apply to the Registrar to be registered as a public company. Upon registration, it will continue to exist as if incorporated under the Companies Act. - The financial interest of the Government in Air Botswana will be converted to issued shares in the capital of the company, held by the Minister in trust for Botswana. - All assets and liabilities of Air Botswana will become those of the company.

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    Original Title

    Air Botswana(Transition)

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    © © All Rights Reserved

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    This document summarizes the Air Botswana (Transition) Act, which provides for the registration of Air Botswana as a public company under the Companies Act. It allows for Air Botswana to continue existing as if it had been incorporated under that Act. Key points include: - Air Botswana can apply to the Registrar to be registered as a public company. Upon registration, it will continue to exist as if incorporated under the Companies Act. - The financial interest of the Government in Air Botswana will be converted to issued shares in the capital of the company, held by the Minister in trust for Botswana. - All assets and liabilities of Air Botswana will become those of the company.

    Copyright:

    © All Rights Reserved
    Download as PDF, TXT or read online from Scribd
    Download as pdf or txt
    49 views3 pages

    Air Botswana (Transition)

    Uploaded by

    Shumba Mutumwa
    This document summarizes the Air Botswana (Transition) Act, which provides for the registration of Air Botswana as a public company under the Companies Act. It allows for Air Botswana to continue existing as if it had been incorporated under that Act. Key points include: - Air Botswana can apply to the Registrar to be registered as a public company. Upon registration, it will continue to exist as if incorporated under the Companies Act. - The financial interest of the Government in Air Botswana will be converted to issued shares in the capital of the company, held by the Minister in trust for Botswana. - All assets and liabilities of Air Botswana will become those of the company.

    Copyright:

    © All Rights Reserved
    Download as PDF, TXT or read online from Scribd
    Download as pdf or txt
    of 3

    CHAPTER 74:09

    AIR BOTSWANA (TRANSITION)


    ARRANGEMENT OF SECTIONS
    SECTION
    1.
    2.
    3.
    4.
    5.
    6.
    7.

    Short title and commencement


    Interpretation
    Registration and continuation of Air Botswana
    Conversion of financial interest of Government into issued shares
    Transitional provisions
    Reference to terms in certain Acts
    Repeal of Cap. 74:07

    Act 16, 2003.


    An Act to provide for the registration of Air Botswana as a public company under the
    Companies Act; for its continued existence as if it had been incorporated under that Act
    and for matters incidental thereto.
    [Date of Assent: 27th August, 2003]
    [Date of Commencement: On Notice]
    1.

    Short title and commencement


    (1) This Act may be cited as the Air Botswana (Transition) Act, and shall come into
    operation on such date as the Minister may, by Order published in the Gazette, appoint.
    (2) The Minister may prescribe a different date for the coming into operation of sections
    1 to 6, which date shall, in any case, be earlier than the date that he may prescribe for the
    coming into operation of section 7.
    2.
    Interpretation
    In this Act, unless the context otherwise requires"Air Botswana" means Air Botswana, as established under the Air Botswana Act;
    "Company" means Air Botswana, as continued under section 3 hereof; and
    "Registrar" means the Registrar of Companies.
    3.
    Registration and continuation of Air Botswana
    (1) Air Botswana may apply to the Registrar to be registered as a public company under
    the Companies Act, and shall, upon registration, continue to exist as if it had been incorporated
    under that Act.
    (2) An application under subsection (1) shall be supported by(a) a copy of the law under which Air Botswana was established as a statutory corporation;
    (b) a copy of this Act;
    (c) a certified copy of the memorandum and articles of association, or of the documents
    detailing the constitution, as the case may be, of the Company;
    (d) a statement of the charges on the assets of Air Botswana; and
    (e) any other documents or information the Registrar may require.
    (3) For the purposes of subsection (1), the Minister shall designate the amount of share
    capital with which the Company shall be registered and shall divide the capital into shares of a
    fixed amount.
    (4) Notwithstanding anything to the contrary contained in the Companies Act, the
    Minister shall sign the memorandum and articles of association or certify the documents
    detailing the constitution, as the case may be, of the Company.
    (5) Notwithstanding anything to the contrary contained in the Companies Act, the
    Company shall use "Air Botswana" as its company name and be legally designated as such for
    all purposes.

    Copyright Government of Botswana

    4.

    Conversion of financial interest of Government into issued shares


    (1) From the date of coming into operation of sections 1 to 6, the financial interest of the
    Government in Air Botswana shall be converted into issued shares in the capital of the
    Company and held by the Minister, in trust for the Republic of Botswana.
    (2) The Minister, in trust for the Republic of Botswana, may, with the concurrence of the
    Minister responsible for finance
    (a) acquire, hold, dispose of and otherwise deal with shares of, or any security interest in,
    the Company;
    (b) enter into any agreement or arrangement necessary or incidental to any activity
    referred to in paragraph (a); and
    (c) exercise all the rights of the Government as shareholder in the Company, and may in
    writing delegate, to any other person, the exercise of such rights.
    5.
    Transitional provisions
    (1) From the date of the registration of Air Botswana as a company under the
    Companies Act, all assets and liabilities of Air Botswana shall become assets and liabilities of
    the Company without further assurance and the Company shall have all the powers necessary
    to take possession of, recover and deal with, such assets and discharge such liabilities.
    (2) Every agreement, whether in writing or not, and every deed, bond or other instrument
    to which Air Botswana was a party or which affected Air Botswana, and whether or not of such a
    nature that the rights, liabilities and obligations thereunder could be assigned, shall have effect
    as if the Company were a party thereto or affected thereby instead of Air Botswana, and as if,
    for every reference therein to Air Botswana, there were substituted in respect of anything to be
    done on or after the date of registration of Air Botswana as a company under the Companies
    Act, a reference to the Company.
    (3) Any legal proceedings pending immediately before the date on which Air Botswana is
    registered as a company under the Companies Act to which Air Botswana was a party shall be
    continued as if the Company had been a party thereto in lieu of Air Botswana.
    (4) The Board of Management of Air Botswana shall, until otherwise determined by the
    Minister, and subject to the Memorandum and Articles of Association, or the documents
    detailing the constitution, as the case may be, of the Company, serve as Directors of the
    Company.
    (5) All employees of Air Botswana shall become the corresponding employees of the
    Company and shall continue in office for the period for which, and be subject to the conditions
    under which, they were appointed, as employees of Air Botswana.
    6.
    Reference to terms in certain Acts
    From the date of coming into operation of sections 1 to this section, any reference to
    "wholly-owned Government corporations", "statutory corporation" or any such similar reference
    in the following Acts shall not be deemed to be a reference to the Company(a) the Bank of Botswana Act;
    (b) the Finance and Audit Act; and
    (c) the Pension and Provident Funds Act.
    7.
    Repeal of Cap: 74:07
    The Air Botswana Act is hereby repealed.

    DISCLAIMER
    Copyright (c) Botswana Government
    The data on this CD-ROM is copyright under the Berne Convention.
    Please note that you may be required, in terms of copyright or other laws, to obtain permission
    before reproducing any part of this database. Permission to reproduce the contents of this
    database may be sought from the Attorney-General Government Enclave Gaborone - Private
    Copyright Government of Botswana

    Bag 009 Gaborone Botswana.


    Disclaimer
    Blackhall Publishing hereby disclaims any and all guarantees and warranties on the software
    described herein or on the documentation of this software, and specifically disclaims any implied
    warranties of the merchantability or fitness of the software or documentation for any particular
    purpose. This software and manual are sold on an 'as is' basis; any user of this software or
    manual uses it at his or her own risk.
    Further, Blackhall Publishing reserves the right to revise this publication and to make changes
    from time to time in the software and in the content of this publication without obligation of
    Blackhall Publishing to notify any person of such revision or changes. No guarantee is made
    that further versions of the software or manual will be compatible with any other versions.
    Further, although every care is taken to ensure the accuracy of this publication and disc,
    supplements, updates and replacement material, the authors, editors, publishers and printers do
    not accept any responsibility for any act, omission, loss, damage or the consequences thereof
    occasioned by the reliance by any person upon the contents hereof.

    Copyright Government of Botswana

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