Bantu Investment Corporation Act, 1959

From Wikipedia, the free encyclopedia
Jump to: navigation, search
Bantu Investment Corporation Act, 1959
Coat of Arms of South Africa (1932-2000).svg
Act to constitute a Corporation the object of which is to promote and encourage industrial and other undertakings and to act as a development, financial and investment institution among Bantu persons in the Bantu areas, and to provide for other incidental matters.
Citation Act No. 34 of 1959
Enacted by Parliament of South Africa
Date of Royal Assent 15 May 1959
Date commenced 3 June 1959
Date repealed 24 April 1968
Administered by Minister of Bantu Administration and Development
Repealing legislation
Promotion of the Economic Development of Bantu Homelands Act, 1968
Status: Repealed

The Bantu Investment Corporation Act, Act No 34 of 1959, formed part of the apartheid system of racial segregation in South Africa. In combination with the Bantu Homelands Development Act of 1965, it allowed the South African government to capitalize on entrepreneurs operating in the Bantustans. It created a Development Corporation in each of the Bantustans.[1]

References[edit]

  1. ^ "Legislation: 1950s". South African History Online. Retrieved 3 May 2010.