State Oil Fund Act, 1977

Please note that the research on this work is ongoing. Amendment, commencement and repeal information may be missing.
Jurisdiction
South Africa
Citation
Act 38 of 1977
Date
30 March 1977
Language
English
Type
Legislation
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South Africa

State Oil Fund Act, 1977

Act 38 of 1977

  • Published in Government Gazette 5483 on 30 March 1977
  • Assented to on 22 March 1977
  • Commenced on 10 January 1977
  • Note: See section 3
  • [This is the version of this document from 30 March 1977.]
  • [Please note that the research on this work is ongoing. Amendment, commencement and repeal information may be missing.]
(English text signed by the State President.)ACTTo provide for the payment, as a charge to the State Revenue Fund, of certain moneys into the State Oil Fund and for the utilization and investment thereof; and for incidental matters.BE IT ENACTED by the State President, the Senate and the House of Assembly of the Republic of South Africa, as follows:—

1. Payment of certain moneys as a charge to the State Revenue Fund into the State Oil Fund, and utilization and investment thereof

(1)There shall be paid, as a charge to the State Revenue Fund, into the State Oil Fund, controlled by SOF (Proprietary) Limited, a company incorporated in terms of the Companies Act, 4973 (Act No. 61 of 1973)—
(a)an amount of 7,4 cents of the customs or excise duty on a kilogram of liquefied petroleum gas paid into the State Revenue Fund;
(b)an amount of 4 cents of the customs or excise duty on a litre of petrol, aviation spirit, kerosene, distillate fuel or residual fuel oil paid into the State Revenue Fund, in respect of which no rebate or refund is applicable; and
(c)an amount of 1 cent of the customs or excise duty on a litre of kerosene, distillate fuel or residual fuel oil paid into the State Revenue Fund, in respect of which a partial rebate or refund is applicable, and which after application of the rebate or refund is not less than 1 cent.
(2)
(a)Moneys paid under subsection (1) into the said State Oil Fund, shall be utilized in accordance with directions of the Minister of Economic Affairs for the financing or promotion of—
(i)the acquisition of coal, the exploitation of coal deposits, the manufacture of liquid fuel, oil and other products from coal, the marketing of the said products, and any matter connected with the said acquisition, exploitation, manufacture and market­ing; and
(ii)any other object for which that Fund may be applied, and which has been designated or approved by the said Minister in consultation with the Minister of Finance.
(b)Any such moneys not. immediately required for a purpose mentioned in paragraph (a), shall be invested with the Public Debt Commissioners or in such other manner as the said Minister in consultation with the Minister of Finance may determine.

2. Repeal of section 53 of Act 11 of 1977

(1)Section 53 of the Finance and Financial Adjustments Acts Consolidation Act, 1977, is hereby repealed.
(2)Anything done under the provisions repealed by subsection (1) and which could be done under any provision of this Act, shall be deemed to have been done under the last-mentioned provision.

3. Short title and commencement

This Act shall be called the State Oil Fund Act, 1977, and shall be deemed to have come into operation on 10 January 1977.
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History of this document

30 March 1977 this version
22 March 1977
Assented to
10 January 1977
Commenced

Note: See section 3

Cited documents 1

Legislation 1
1. Finance and Financial Adjustments Acts Consolidation Act, 1977 71 citations

Documents citing this one 74

Gazette 70
1. Limpopo Provincial Gazette dated 1998-04-24 number 323
2. South Africa Government Gazette Regulation Gazette dated 2005-11-18 number 28245
3. South Africa Government Gazette dated 1977-04-22 number 5515
4. South Africa Government Gazette dated 1977-05-13 number 5541
5. South Africa Government Gazette dated 1977-08-19 number 5715
6. South Africa Government Gazette dated 1977-10-07 number 5761
7. South Africa Government Gazette dated 1977-10-14 number 5767
8. South Africa Government Gazette dated 1978-01-13 number 5855
9. South Africa Government Gazette dated 1978-03-10 number 5911
10. South Africa Government Gazette dated 1978-05-19 number 6024
11. South Africa Government Gazette dated 1978-06-02 number 6034
12. South Africa Government Gazette dated 1978-07-07 number 6111
13. South Africa Government Gazette dated 1978-07-21 number 6116
14. South Africa Government Gazette dated 1978-12-01 number 6229
15. South Africa Government Gazette dated 1979-06-08 number 6483
16. South Africa Government Gazette dated 1979-06-22 number 6517
17. South Africa Government Gazette dated 1979-10-05 number 6689
18. South Africa Government Gazette dated 1980-01-11 number 6804
19. South Africa Government Gazette dated 1980-01-18 number 6814
20. South Africa Government Gazette dated 1980-02-08 number 6840
21. South Africa Government Gazette dated 1980-03-07 number 6873
22. South Africa Government Gazette dated 1980-04-03 number 6927
23. South Africa Government Gazette dated 1980-04-18 number 6953
24. South Africa Government Gazette dated 1980-05-16 number 6998
25. South Africa Government Gazette dated 1980-05-16 number 7003
26. South Africa Government Gazette dated 1980-06-06 number 7053
27. South Africa Government Gazette dated 1980-06-13 number 7067
28. South Africa Government Gazette dated 1980-07-04 number 7111
29. South Africa Government Gazette dated 1980-07-11 number 7118
30. South Africa Government Gazette dated 1981-02-25 number 7427
31. South Africa Government Gazette dated 1981-05-08 number 7572
32. South Africa Government Gazette dated 1981-05-15 number 7582
33. South Africa Government Gazette dated 1981-06-05 number 7607
34. South Africa Government Gazette dated 1981-07-10 number 7654
35. South Africa Government Gazette dated 1981-08-14 number 7712
36. South Africa Government Gazette dated 1981-09-04 number 7754
37. South Africa Government Gazette dated 1981-09-11 number 7775
38. South Africa Government Gazette dated 1981-09-18 number 7801
39. South Africa Government Gazette dated 1981-12-04 number 7946
40. South Africa Government Gazette dated 1981-12-11 number 7952
41. South Africa Government Gazette dated 1982-01-15 number 7988
42. South Africa Government Gazette dated 1982-02-12 number 8018
43. South Africa Government Gazette dated 1982-08-06 number 8330
44. South Africa Government Gazette dated 1982-08-13 number 8337
45. South Africa Government Gazette dated 1982-08-20 number 8344
46. South Africa Government Gazette dated 1982-09-03 number 8366
47. South Africa Government Gazette dated 1982-09-17 number 8382
48. South Africa Government Gazette dated 1982-10-08 number 8406
49. South Africa Government Gazette dated 1982-12-10 number 8473
50. South Africa Government Gazette dated 1983-12-15 number 8999
51. South Africa Government Gazette dated 1984-01-13 number 9029
52. South Africa Government Gazette dated 1984-02-10 number 9056
53. South Africa Government Gazette dated 1984-10-05 number 9448
54. South Africa Government Gazette dated 1984-10-12 number 9455
55. South Africa Government Gazette dated 1991-05-22 number 13251
56. South Africa Government Gazette dated 1991-07-03 number 13344
57. South Africa Government Gazette dated 1991-07-12 number 13369
58. South Africa Government Gazette dated 1991-07-19 number 68
59. South Africa Government Gazette dated 1992-03-13 number 13839
60. South Africa Government Gazette dated 1992-03-20 number 13863
61. South Africa Government Gazette dated 1996-11-01 number 17532
62. South Africa Government Gazette dated 2000-12-18 number 21840
63. South Africa Government Gazette dated 2002-04-19 number 23325
64. South Africa Government Gazette dated 2004-05-14 number 26169
65. South Africa Government Gazette dated 2006-06-23 number 28952
66. South Africa Government Gazette dated 2008-06-03 number 31124
67. South Africa Government Gazette dated 2008-11-24 number 31638
68. South Africa Government Gazette dated 2016-03-16 number 39816 part 1
69. South Africa Government Gazette dated 2019-07-30 number 42601
70. Western Cape Provincial Gazette dated 2010-09-20 number 6792
Judgment 1
1. Schlumberger Logelco Incorporated v Coflixip SA (256/2001) [2002] ZASCA 99 (6 September 2002)
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1. Road Accident Fund Act, 1996 750 citations
2. Marine Pollution (Control and Civil Liability) Act, 1981 58 citations
3. National Energy Act, 2008 26 citations