Page:Matrimonial Property Act 1984.djvu/2

GOVERNMENT GAZETTE, 25 JULY 1984

Rh GENERAL EXPLANATORY NOTE

To amend the matrimonial property law and to provide for matters connected therewith.

(Afrikaans text signed by the State President.) (Assented to 3 July 1984.)

E IT ENACTED by the State President and the House of Assembly of the Republic of South Africa, as follows:―

1. In this Act, unless the context indicates otherwise—

“banking institution” means a banking institution as defined in section 1 of the Banks Act, 1965 (Act No. 23 of 1965); (ii)

“building society” means a building society as defined in section 1 of the Building Societies Act, 1965 (Act No. 24 of 1965); (iii)

“court” means a provincial or local division of the Supreme Court of South Africa or a divorce court instituted under section 10 of the Black Administration Act, 1927, Amendment Act, 1929 (Act No. 9 of 1929), and includes, for the purposes of section 16, a judge in chambers, and, for the purposes of section 16 (1), a magistrate's court which has jurisdiction in the matter concerned; (vii)

“financial institution” means a financial institution as defined in section 1 of the Financial Institutions (Investment of Funds) Act, 1984 (Act No. 39 of 1984); (iv)

“joint estate” means the joint estate of a husband and a wife married in community of property; (v)

“listed securities” means listed securities as defined in section 1 of the Stock Exchanges Control Act, 1947 (Act No. 7 of 1947); (vi)

“separate property” means property which does not form part of a joint estate. (i)

CHAPTER 1

2. Every marriage out of community of property in terms of an antenuptial contract by which community of property and community of profit and loss are excluded, which is entered into after the commencement of this Act, is subject to the accrual system specified in this Chapter, except in so far as that system is expressly excluded by the antenuptial contract.

3. (1) At the dissolution of a marriage subject to the accrual system, by divorce or by the death of one or both of the spouses, the spouse whose estate shows no accrual or a smaller accrual than the estate of the other spouse, or his estate if he is