Republic of South Africa Constitution Act, 1961/1967-04-01

as amended by

Provincial Executive Committees Act, No. 28 of 1962

Constitution Amendment Act, No. 65 of 1962

Constitution Amendment Act, No. 9 of 1963

Provincial Councils and Executive Committees Act, No. 22 of 1963

Coloured Persons Education Act, No. 47 of 1963

Provincial Executive Committees Act, No. 64 of 1963

Indians Education Act, No. 61 of 1965

Constitution Amendment Act, No. 83 of 1965

Pension Laws Amendment Act, No. 102 of 1965

Constitution Amendment Act, No. 37 of 1966

Second Finance Act, No. 58 of 1966

Constitution Amendment Act, No. 9 of 1967

103. (1) The Railways, ports and harbours of the Republic shall be administered on business principles, due regard being had to agricultural and industrial development within the Republic and the promotion, by means of cheap transport, of the settlement of an agricultural and industrial population in the inland portions of all provinces.

(2) (a) So far as may be, the total earnings of the railways, ports and harbours shall be not more than are sufficient to meet the necessary outlays for working, maintenance, betterment, depreciation, contributions to the sinking fund established by section 104A and the payment of interest due on capital not being capital contributed out of railway or harbour revenue, and not including the amount of capital deemed in terms of section 2 (1) of the Finance Act, 1934 (Act No. 64 of 1934), to have been invested as at the thirty-first day of May, 1910, in the railways and harbours and any sums payable out of the Consolidated Revenue Fund in accordance with the provisions of sections 105 and 106.

(b) The amount of interest due on such capital invested shall be paid over from the Railway and Harbour Fund into the Consolidated Revenue Fund.