Infraco

The President of South Africa has signed the INFRACO Act 33 of 2007 into law.  The commencement date for the Act is February 2008.

The aim of the INFRACO Act is to provide for the transfer of shares, loan accounts, liabilities and guarantees in Broadband Infraco (Propriety) Limited (Infraco) from Eskom Holding Limited to the State; to provide for the main objects and powers of Infraco; to provide for the borrowing powers of Infraco; to provide for servitudes and additional rights in favour of Infraco; to provide for the expropriation of land or any right in land by the Minister for Public Enterprises on behalf of Infraco; to provide for the conversion of Infraco; into a public company having a share capital incorporated in terms of the Companies Act, 1973; and to provide for matters connected therewith."