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President Signs Overvaal Resorts Repeal Act

October 3, 2019

The Presidency

3 October 2019

The Overvaal Resorts Limited Act Repeal Act has been signed into law.

Parliament passed the Repeal of the Overvaal Resorts Limited Bill and sent it to president Ramaphosa for assent in March 2019.

The bill was tabled in parliament in December 2017.

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

The Overvaal Resorts Limited Act Repeal Act, published in Government Gazette 42745, seeks to repeal the Overvaal Resorts Limited Act 123 of 1997.

The 1997 act is the founding legislation of Aventura.

The 2019 act completes 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 act stipulates that, despite the repeal of the act, the servitudes acquired under section 3(2) continue to be of force and effect.

The act comes into effect on a date still to be determined by the president.