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Overvaal Resorts Limited Bill Sent to NCOP

November 26, 2018

Department of Public Enterprises

The Repeal of the Overvaal Resorts Limited Bill has been passed by the national assembly and sent to the national council of provinces for concurrence.

The bill was tabled in parliament in December 2017.

The proposed legislation was drawn up by the public enterprises department.

The bill seeks to repeal the Overvaal Resorts Limited Act 123 of 1997.

The act is the founding legislation of Aventura.

The bill will complete the winding down of Aventura.

Cabinet took a decision in 2001 to dispose of the Aventura resorts as they were regarded as non-core assets of government.

The bill stipulates that, despite the repeal of the act, the servitudes acquired under section 3(2) continue to be of force and effect.

Meanwhile, the department recently briefed parliament on its Quarter 1 and 2 performance.

Going forward, the department’s focus areas will be the review of current boards, improving operational efficiency of state-owned companies (SOC), stamping out corrupt practices at SOCs, ensuring that SOC mandates are aligned to the state’s developmental agenda and implementing SOC reforms.

The department pointed out that the development of a SOC Bill will seek to address concerns raised by committee members about the need to improve oversight over the SOCs, the ability of government to hold the SOCs to account and the process for the appointment of boards.

A SOC Reform policy is under construction. Once completed, it will be published for comment.