Republic of Namibia 7 Annotated Statutes Posts and Telecommunications Companies Establishment Act 17 of 1992 company shall be entitled to conduct a telecommunications service, subject to the Posts and Telecommunications Act, 1992. (2) For the purposes of subsection (1), any State land of which the postal enterprise and the telecommunications enterprise have the use immediately before the transfer date, shall on that date, but subject to subsection (4), pass to the postal company or the telecommunications company, as the case may be. (3) Subject to subsection (4), any servitude, other real right or lease existing immediately before the transfer date in favour of the State, the department or the PostmasterGeneral and which is exercised in favour of the postal enterprise or the telecommunications enterprise shall on the transfer date pass to the postal company or the telecommunications company, as the Minister shall determine. (4) Notwithstanding the provisions of subsections (2) and (3) the Minister may determine that any land referred to in subsection (2) or any servitude, other real right or lease referred to in subsection (3), shall pass to the holding company which shall, by lease or otherwise and on terms to be determined by it, make such land or the enjoyment of any right pertaining to any such servitude, other real right or lease available to the postal company or telecommunications company. (5) Any land or any servitude, other real right or lease vesting in the holding company by virtue of the provisions of subsection (4) may at any time be transferred by the holding company to the postal company or the telecommunications company on such conditions as the holding company may determine. (6) Minister - The Registrar of Deeds shall on submission to him or her of a certificate by the (a) that State land or any servitude, other real right or lease has passed in terms of subsection (2), (3), (4) or (5), free of charge, make such entries and endorsements as he or she may deem necessary in or on any relevant register, title deed or other document in his or her office or laid before him or her in order to effect the transfer in the name of the company in question; (b) that a servitude exists over land which has passed in terms of subsection (2), (4) or (5), make such entries and endorsements as he or she may deem necessary in or on any relevant register, title deed or other document in his or her office or laid before him or her in order to confirm the existence of the servitude in favour of any person over land which has so passed. (7) The value of the assets and liabilities of the enterprises transferred in terms of subsection (1), including any assets or liabilities referred to in subsection (4), shall be determined by the Minister with the concurrence of the Minister of Finance, and the net asset value of those enterprises shall likewise be determined. (8) For the purposes of the Income Tax Act, 1981 (Act 24 of 1981), or any other law in terms of which a tax or levy may be imposed, it shall be deemed that expenses were actually incurred by a successor company in acquiring the assets transferred to it in terms of subsection (1) or (4) and that, notwithstanding the provisions of any other law, the expenses concerned, including the cost of the assets, are equal to the value determined in terms of subsection (7). (9) In all pending litigation, including arbitrations, to which the President of the Republic of Namibia or the Government of the Republic of Namibia or the Minister is a party