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Commercial Law news

Green bill 'will affect Transnet's balance sheet'

1 Mar 2012 13:42
The Department of Public Enterprises (DPE) has publicly criticised a proposed amendment to the Integrated Coastal Management Act, issued by the Department of Environmental Affairs, which the DPE says fails to protect the commercial imperatives of Transnet.
According to Business Live, the bill was issued in a bid to exclude from the main act deficiencies which could have removed harbours from the control of Transnet.

But public enterprises chief director of legal affairs and governance Sandile Dlamini told Parliament's public enterprises committee that the bill, which has not yet been introduced into Parliament, failed to achieve the proper balance between management of the environment and Transnet's interests, because it included land submerged by coastal water - and therefore ports as well - as coastal public property. This, Dlamini said, still threatened Transnet's commercial interests as the operator of SA's ports.

"This will affect Transnet's balance sheet" Dlamini said, adding that all activities authorised under the National Ports Act should be excluded from the prohibition and discussions were being held with environmental affairs over the issue, Business Live reports.

Read the full article on www.businesslive.co.za.
    
 
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