Dissolution of SANParks Clause Samples
The 'Dissolution of SANParks' clause outlines the procedures and conditions under which the South African National Parks (SANParks) organization may be formally disbanded or terminated. This clause typically specifies the steps required for dissolution, such as the approval process, the handling of assets and liabilities, and the distribution of any remaining property or funds. For example, it may require a governing body’s resolution and set out how SANParks’ assets are to be transferred to another public entity or used for similar conservation purposes. The core function of this clause is to provide a clear, orderly process for winding down the organization, ensuring legal compliance and the responsible management of resources in the event SANParks ceases to exist.
Dissolution of SANParks. SANParks may not at any time, cede, delegate, assign, sub-contract or otherwise dispose of, in whole or in part, its rights and obligations under this PPP Agreement except to an assignee which has the legal capacity, power and authority to become a party to and perform the obligations of SANParks under this PPP Agreement.