immovable asset definition

immovable asset means property which can be touched but which cannot be moved, and includes buildings, fixtures or improvements in or over Land and the right of occupation thereof;

immovable asset. ’ means land or an immovable structure on land, or rights in 20 such land or immovable structure;

immovable asset means any permanent structures, Processing Factory(ies) or Infrastructure that cannot be removed without causing material damage to the Project Area or permanent structures thereon.

Examples of immovable asset in a sentence

• Cape Government via its Department of Transport and Public Works, of 0 Xxxx Xxxxxx, Xxxx Xxxx, Xxxxxxx Xxxx Xxxxxxxx (“the WCG”) is, in terms of the Government Immovable Asset Management Act 19 of 2007, the Custodian of XXX 000000, Xxxx Xxxx, being the provincial state land (“the Land”) upon which the Unit for sale is situated.

• The Act calls for more efficient and effective use of immovable assets by government and place an obligation on Accounting Officers to prepare Immovable Asset Management Plans to ensure that prudent management of such assets take place.

• The User Immovable Asset management plan must consist of at least: A strategic needs assessment An acquisition Plan An operations Plan An Immovable Asset surrender Plan In accordance with GIAMA the User Department will submit annually its User Asset Management Plan to National Treasury aligned to the budget cycle.

• Ensure that PPP projects are addressed in terms of sections 4 (1); 4 (5 a and b) of the Government Immovable Asset Management Act, 2007 (Act No. 19 of 2007); Send delegated officials to project-related meetings (including meetings on site) as requested by NDPW (subject to availability).

• On 14 April 2009 the Government Immovable Asset Management Act (Act No. 19 of 2007) became an Act of the Republic of South Africa.

More Definitions of immovable asset

immovable asset. ’ means any immovable asset acquired or owned by govern- ment, excluding any right contemplated in the Mineral and Petroleum Resources 20 Development Act, 2002 (Act No. 28 of 2002);

immovable asset means any tangible asset acquired or owned by government, excluding any right contemplated in the Mineral and Petroleum Resources Development Act, 2002 (Act No. 28 of 2002). Immovable assets may include land, fixed structures such as buildings and infrastructure assets. Plant that is built-in to the fixed structures and is an essential part of the functional performance of the primary asset is considered an immovable asset (though it may be temporarily removed for repair).”

immovable asset means an immovable asset as defined by the Government-wide Immovable Asset Management Act.

immovable asset means any immovable asset acquired or owned by govern-

immovable asset means any immovable asset acquired or owned by government. Immovable assets are further described as land and any immovable improvement on that land, and which have enduring value and consist of assets of residential, non-residential or infrastructure nature and include machinery and equipment that have been installed and are an integral part of assets and include all assets both state-owned and leased. This excludes any right contemplated in the Mineral and Petroleum Resources Development Act, 2002 (Act No. 28 of 2002);

immovable asset means any immovable asset owned or leased by government

immovable asset means immovable property and includes: i.any land (including erven) in the normal sense of the word; ii.any sectional unit under the Sectional Titles Act;