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Agricultural Debt Management Act, 2001 (No. 21 of 2001).

Country/Territory
South Africa
Document type
Legislation
Date
2001
Source
FAO, FAOLEX
Long title
An Act to provide for the administration of this Act; to establish the Agricultural Debt Account; to provide for the use of the account as a mechanism to manage agricultural debt repayment; to administer monies in the account; to determine the purpose for which funds in the account may be used; to provide for the auditing and reporting on the account; to provide for various matters relating to debt agreements, interest rates, the collection and writing off of debt, the registration of bonds and property; and to provide for matters connected therewith.
Subject
Agricultural & rural development, Land & soil
Keyword
Agricultural development Credit Special fund Subsidy/incentive
Geographical area
Africa, South Atlantic, Southern Africa
Abstract

The Agricultural Credit Account, kept in terms of section 20A of the Agricultural Credit Act (here repealed), continues to exist despite the repeal of that Act and is to be called the Agricultural Debt Account. Any agreement which is still in force immediately before the commencement of this Act and which directly or indirectly relates to a debt, remains a legally binding agreement and is enforceable as despite the repeal of any legislation under which or as a result of which that agreement was concluded. Any mortgage bond, condition or restriction relating to a debt and registered against immovable property on the date of commencement of this Act, remains in force despite the repeal of any legislation under which that mortgage or condition was effected. The Director-General of the National Department of Agriculture must on a continuous basis monitor the repayment of debt and must audit all securities relating to debt.

Full text
English
Website
www.info.gov.za

References - Legislation

Amended by

Agricultural Debt Management Amendment Act, 2002 (No. 49 of 2002).

Legislation | South Africa | 2002

Keyword: Agricultural development, Credit, Cadastre/land registration

Source: FAO, FAOLEX

Repealed by

Agricultural Debt Management Repeal Act, 2008 (No. 15 of 2008).

Legislation | South Africa | 2008

Keyword: Agricultural development, Credit, Special fund, Subsidy/incentive

Source: FAO, FAOLEX