Parliament to initiate public participation to amend Overvaal Resorts Limited Bill

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Department of Public Enterprise briefed the Portfolio Committee on Public Enterprise on the status of the Overvaal Resorts Limited Bill.

Chairperson of the Portfolio Committee on Public Enterprise Lungi Mnganga-Gcabashe says the committee will have to undertake a public participation process in order to get the views of South Africans regarding the Overvaal Resorts Limited Bill.

The Department of Public Enterprise briefed the Portfolio Committee on Public Enterprise regarding the status of the Overvaal Resorts Limited Bill in parliament on Tuesday.

The Bill seeks to repeal the Overvaal Resorts Limited Act of 1993, and to retain section 3(2) of the Act in order to ensure that the state does not lose its rights in those resorts as a result of the repeal.

According to a statement issued by parliament, Overvaal Resorts Limited Act of 1993, was formulated in order to establish the Resorts Limited as a public company in order to hold and manage it on behalf of the government.

Cabinet then took a decision in 2001 to dispose of the 14 resorts where Six unprofitable ones were sold to other purchasers and another eight to Forever Resorts, which took the move longer to complete.

The government then added an addendum to the sale agreement between government, Aventura and Forever Resorts in 2007.

Eventually, it was decided to liquidate Aventura due to challenges that kept occurring at the resort.

The resort was put under liquidation in 2012 after the Former Minister of Public Enterprise Malusi Gigaba passed a special resolution for its liquidation.

“In light of the foregoing, the legislation that established Aventura is no longer relevant, hence the repeal of the Act.”The statement said.

-TNA Reporter

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