On Wednesday, 20 April 2016 the Minister of Energy issued a determination setting out what bidders can expect to see in the request for proposal under the coal baseload cross border independent power producer procurement programme. The determination provides that:
Lessee financial reporting will be significantly affected by a new IFRS lease accounting standard that will be effective from 1 January 2019. The new rules will affect almost all leases of movable and immovable assets save for certain leases such as leases to explore for or use minerals, oil, natural gas or similar non-regenerative resources
Africa’s largely untapped specialty lines insurance market has significant opportunities for insurers willing to enter the region. As the market develops, more difficult and unusual risks will be written.
Regulations which vary by country must be considered. For example, placing insurance with a locally licensed insurer is often a requirement or a percentage of the
Corporates often choose to lease long term assets instead of buying them for a number of reasons – there may be tax benefits to leasing the asset and not buying it and leases offer more flexibility in terms of adjusting for technology and capacity needs.
A recently published new IFRS lease standard may have an
The March 2016 ruling of the ombud for financial services providers in Khoza v Bensure Management Services is worth reading because it reminds us of an FSP’s obligations regarding an amendment to a policy and the meaning of the word “event”.
The complainant took out a Journey policy through the FSP which entitled her to
If tender documents impose an obligation on a bidding party to disclose that it has the necessary financial resources to execute a project, the failure by the bidder to disclose that it was placed under business rescue after the bid was submitted but before the contract was awarded, resulted in the successful award of the
On Wednesday, 13 April 2016, ten shortlisted candidates were named by the Portfolio Committee on Justice and Correctional Services for five positions within the Information Regulator established in terms of the Protection of Personal Information Act 2013 (POPI).
The shortlisted candidates are:
A claim for payment under a demand guarantee that guarantees payment of clearing and forwarding fees is a maritime claim in terms of the Admiralty Jurisdiction Regulation Act. This is so because it is a claim for payment “arising out of or relating to the remuneration of a forwarding agent”. Therefore the Gauteng High Court
If insurers don’t want to cover cyber liability under a general liability policy they’d better check their wordings and introduce exclusions if necessary.
Whether or not cyber breaches are covered under the “personal and advertising injury” section of commercial general liability policies depends on the circumstances of each case. I discuss two cases which illustrate
In two recent cases the Supreme Court of Appeal pointed out that it is generally impermissible to use regulations created by a Minister as an aid to interpret an act passed by Parliament, even if the act includes the regulations.
Even a specific provision in a regulation cannot override a general provision in a statute