The Competition Act was amended in February 2020 to introduce new rules to protect small, medium and black-owned suppliers in specific sectors (the buyer power provisions). These include the e-commerce and online services sectors (the gig economy).
On 18 May 2020 the Competition Commission issued its guidelines on the buyer power provisions. These guidelines set
Companies may attempt to rearrange their financial affairs to minimise the financial impact of the pandemic (or for any other reason). Section 155 of the Companies Act provides an informal mechanism of restructuring a company’s obligations to creditors.
Here are 10 things to consider when entering into a compromise with creditors:
Donations to non-profit entities may carry a tax benefit for the donor – the hallowed section 18A certificate. This allows the donor to claim a tax refund and encourages donations. Non-profit entities that are Public Benefit Organisations (PBO) can issue these certificates. PBO status is granted by the South African Revenue Service (SARS) under the
Economists and business leaders have welcomed the South African Reserve Bank’s (SARB) decision to cut the repo rate by a further 50 basis points (bps) to 3.75% on 21 May 2020. This has resulted in a reduction of the prime rate quoted by our commercial banks from 7.75 % to 7.25 %. This is the
On 20 May 2020, the Financial Sector Conduct Authority (FSCA) published a draft Conduct Standard for Exchanges and a draft Directive for Exchanges.
Conduct Standard for Securities Exchanges
The main objective of the proposed conduct standard is to introduce requirements for the conduct of securities exchanges in response to increased competition in the South
Since 1 April 2019, the Pension Funds Adjudicator has been empowered to apply the principles of equity in dealing with complaints. The concept of an equity jurisdiction has raised concerns in the industry due to its discretionary nature.
The concept of ‘equitable jurisdiction’ has been the subject of a recent determination by the Financial Services
The Companies and Intellectual Property Commission (CIPC) Intellectual Property (IP) division’s external systems resumed on 1 May 2020 but are managed by limited staff.
Although provision was made to extend any deadlines which fell after 25 March 2020 to 6 May 2020 (excluding 4 and 5 May 2020), you will be required to apply for
The directions in terms of the Disaster Management Act relating to the movement of persons and goods which were issued on 7 May 2020 have been revoked and replaced. The new directions issued on 14 May 2020 offer more flexibility because the movement of persons is no longer restricted to residential property only.
The new
The respondent in Airports Company SA Limited v Masiphuze Trading (Pty) Ltd was unsuccessful in relying on the defence of justifiable error in trying to avoid being bound by a suretyship agreement that he signed but did not read.
The respondent entered into a suretyship for a lease debt in respect of premises at the
Broad-based black economic empowerment (BEE) ownership transactions that have gone wrong are often exciting fodder for emotive news articles. But BEE ownership transactions are fundamentally the same as any other ownership transaction and shareholder selection process that would be undertaken in the ordinary course. However, a lack of understanding of the regulatory framework often creates