select
|

Value is just one factor in expropriation bill

A new Expropriation Bill allowing the state to buy land at agreed prices will be piloted through Parliament in the third quarter of this year, but Deputy Public Works Minister Jeremy Cronin acknowledges that it will help fast-track land restitution and reform.

Expropriation of land would have to be "just and equitable".

Market value would be one of five factors taken into consideration when expropriating.

It would also need to take into account the current use of the land and the history of its use, the history of its acquisition by the current owner and any investment in the property.

While Agri SA's legal officer, Annelize Crosby, described it as "not a bad bill", the National Agricultural Marketing Council member John Purchase said he had some concerns, including the wide ambit of the definition of "property".

"It makes it very broad in terms of what can be expropriated... this remains a problem."

Purchase said that, for example, this definition included intellectual property as well as equity in businesses.

Pressed at a media conference yesterday whether the bill was targeted at "paleface" (white) farmers, who still own the bulk of commercial farmland, Cronin said: "Clearly a significant part of expropriation is about land reform and restitution."

Checks and balances had been built into the legislation and, he believed, it was a significant improvement on legislation that was withdrawn "at the eleventh hour" in 2008.

The 2008 bill had removed the property owner's right to contest in court the expropriation and payout offered by the government.

DA public works spokeswoman Anchen Dreyer said among the areas of concern about the 2013 version were that it extended wide-ranging powers not only to the public works minister "but also to government departments and other state entities at all three tiers of government".

Pressed on whether this could mean Zimbabwe-style grabs of 51 percent shares in businesses, Cronin said that any expropriation would have to be done in terms of the law.

To grab "granny's savings or shares or whatever... you would have to argue a persuasive case that it is [for] a public purpose".

Crosby said that while the government was obliged to pay 80 percent of the amount owed to the expropriated subject on the date of expropriation, there was a clause that would provide the state with a loophole to delay this payment. Agri SA would challenge this clause during the public hearings.

(Business Report)


  Comment on this Article

  Please login to post comments

Post to my facebook wall
  
2000
Characters remaining


    Latest Property News
    • 24 Nov 2017
      Demand for secure estate living in Hout Bay has risen sharply in recent years, precipitating a spike in development with estate homes now accounting for 20.24% of the property landscape with the launch of an exclusive new gated development on 26 November adding 20 more units to the existing 1250 estate homes.
    • 24 Nov 2017
      There are some things that money can’t buy – spectacular views from Mouille Point to the V&A Waterfront and a trendy and lively neighbourhood that encapsulates the very best of the Cape Town lifestyle.
    • 24 Nov 2017
      Tshwane’s four-bedroom Mayoral mansion, nestled among ambassadorial residences in the upmarket suburb of Muckleneuk, fetched R5.1 million after spirited bidding at High Street Auctions’ final sale of the year.
    • 23 Nov 2017
      Reserve Bank Governor, Lesetja Kganyago, said that the Monetary Policy Committee had once again decided to let the interest rates remain unchanged with the repo rate at 6.75%, and the prime lending rate at 10.25%.
    • 23 Nov 2017
      As the holiday season approaches, most of us are counting the days until that year-end bonus hits our account. There’s nothing quite like a little bank balance booster to get us in the holiday spirit.
    • 23 Nov 2017
      The Adelphi Centre (now entitled “ARTEM") in Sea Point, Cape Town, is being extensively renovated, and once complete will offer an ultra-luxurious galleria style shopping centre unlike any other seen on the Atlantic Seaboard or in Cape Town.
    • 23 Nov 2017
      If you are looking to sell your home in today’s real estate market, there are certain things that you need to include both inside and outside your house. Today’s generation of home buyers is looking toward a more eco-friendly, energy and water conscious home, and if your house stands out then you are more likely to be able to sell it.
    • 22 Nov 2017
      Most people know of the Community Schemes Ombud Service (CSOS) and that levies must to paid to fund its operations. In this article the experts at Paddocks will address some of the issues that are causing confusion.
        
    X
    Subscribe to the MyProperty Newsletter

    Name  
    Last Name  
    Email Address  
    Email Frequency
    select
    X
    Share this Page

       
    For Sale Property
    Rental Property
    More Options
    About
    Connect with us
    FEEDBACK