The draft Intellectual Property Rights from Publicly Financed Research Bill was published for public comment in Government Gazette No 29950 of 8 June 2007.
You can access the Draft Bill here.
In its current form the Bill deems all patentable inventions and all copyright related to patentable inventions to vest in the research institution (universities and statutory science councils) which must then either patent the invention or lose the Intellectual Property to the proposed National Intellectual Property Management Office.
It is a disciplinary offence for an employee of a university or national science council to fail to report an invention or improvement within 30 days of discovery.
The final law will affect every academic at every public university in South Africa. Academics should pay careful attention to this Bill because this will affect your working conditions in years to come.
The html version is a bit dense to read. There is a Word version at http://www.dst.gov.za/publications/bills/Tag_C_IPR_from_PFR_Bill.DOC