CHAPTER 74:05
NATIONAL DEVELOPMENT BANK (TRANSITION)

ARRANGEMENT OF SECTIONS

    SECTION

PART I
Preliminary

    1.    Short title

    2.    Interpretation

PART II
Registration, conversion and financial interest

    3.    Registration and continuation of bank

    4.    Conversion of financial interest

    5.    Employee Shares Ownership Plan

    6.    Tax exemptions

    7.    Licence

PART III
Financial provisions

    8.    Borrowing powers

PART IV
Miscellaneous

    9.    Transitional provisions

    10.    Reference to certain terms

    11.    Repeal of Cap. 74:05

Law 13, 1963,
HMC Order 1, 1963,
L.N. 28, 1965,
Law 41, 1966,
L.N. 84, 1966,
Act 9, 1967,
Act 30, 1973,
S.I. 51, 1977,
S.I. 89, 1978,
Act 6, 1982,
Act 14, 1984,
S.I. 110, 1989,
Act 14, 2005,
S.I. 58, 2007,
Act 5 of 2014,
S.I. 52, 2014.

An Act to provide for the registration of National Development Bank under the Companies Act; for its continued existence as if it had been incorporated under that Act and for matters incidental thereto.

[Date of Commencement: 2nd June 2014]

PART I
Preliminary (ss 1-2)

1.    Short title

    This Act may be cited as the National Development Bank (Transition) Act.

2.    Interpretation

    In this Act, unless the context otherwise requires—

    "bank" means the National Development Bank established under the National Development Bank Act (Cap. 74:05);

    "Board" means the Board of the National Development Bank established under the National Development Bank Act;

    "Botswana Privatisation Asset Holding Proprietary (Limited)" means a company wholly owned by the Government of Botswana and established under the Companies Act (Cap. 42:01) whose objectives include to collect, receive and hold the portion of assets from privatised entities that are reserved for purposes of economic empowerment of the citizens of Botswana;