oa Juta's Business Law - Leveling the playing field between the Land Bank and commercial banks
|Article Title||Leveling the playing field between the Land Bank and commercial banks|
|© Publisher:||Juta Law Publishing|
|Journal||Juta's Business Law|
|Publication Date||Jan 2007|
|Pages||11 - 16|
Some courts had held that advances by the Land and Agricultural Development Bank of South Africa ('the Land Bank') under the repealed Land Bank Act 13 of 1944 ('the 1944 Act') and before the Land and Agricultural Development Bank Act 15 of 2002 ('the 2002 Act') came into operation on 10 June 2002 were valid, and hence the debt-collecting procedure set out in section 33 of the 2002 Act applied also to these old advances (see my earlier discussion : 'The Land Bank - out with the old and in with the new!' (2006) 14 Juta's Business Law 69). The Cape Provincial Division of the High Court, however, thought differently (see Land and Agricultural Development Bank of South Africa t/a Land Bank v The Master & others (2005 (4) SA 81 (C)).
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