Bantu Investment Corporation Act, 1959
|Bantu Investment Corporation Act, 1959|
|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|Date repealed||24 April 1968|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|
|Promotion of the Economic Development of Bantu Homelands Act, 1968|
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.
- "Legislation: 1950s". South African History Online. Retrieved 3 May 2010.