Africa Law update
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COMMENCEMENT OF PROPERTY VALUATION ACT, 2014

The Property Valuation Act of 2014 has come into operation on 4th August, 2015. The Act provides for regulation of the valuation of property that had been identified for land reform as well as property that had been identified for acquisition or disposal by the department of rural development and land reform. Further, the Act would also establish functions and powers for the office of the Valuer-General.

Land had become a critical factor in achieving redress for the wrongs of the past.

The Act would stop the reliance on the willing-buyer, willing-seller method in respect of land acquisition by the state.

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PRESIDENT JACOB ZUMA ANNOUNCES INITIATIVE FOR INCREASED INVESTMENT

The Government of South Africa has commenced a feasibility study for an initiative aimed at supporting increased investment in line with the needs of the National Development Plan (NDP).

President Zuma said that the objective of the investment feasibility study is to ascertain an appropriate mechanism to simplify and streamline regulatory procedures for investment and to strengthen the approach to investment promotion, facilitation and aftercare.

President Zuma also called on businessmen to fly both South African and African Union flags at their premises to promote our true African identity as a people. He added that significant progress had been made in a number of areas particularly on energy, education, industrialization, regulatory measures, as well as other areas that need intervention for our economy to prosper.

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Disclaimer

This newsletter is compiled and prepared from the information available in public domain. Nothing in this newsletter should be deemed as legal advice and India Juris shall have no liability, whatsoever, with respect to the content published herein. India Juris is licensed to practice in India only. In other regions, whenever required, it closely works with the local law firms and attorneys.

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India Juris wishes everyone INDIA’S 69th Independence day on 15th August 2015.

14 August 2015
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