South Africa and global insurance, financial institutions, banking and general law know–how
This blog was co-authored by: Kristen de Wet, Candidate Attorney
In Siemens Proprietary Limited v PRSA , the court confirmed that the doctrine of estoppel cannot render an agreement enforceable if it is invalid. This is particularly the position where it is in the public interest to ensure an agreement is unenforceable.
Estoppel refers to…
This blog was co-authored by James Donald, candidate attorney
The Ministry of Trade, Industry and Competition published the Companies Amendment Bill 2021 for public comment by 31 October 2021. The Bill proposes to amend the definition of “securities” and to exclude subsidiary companies from the financial assistance requirements in section 45 of the Companies Act…
This blog was co-authored by Stacy Smit, candidate attorney
The Companies Amendment Bill, 2021 published on 1 October 2021 for public comment proposes amendments to section 16 of the Companies Act of 2008 and provides clarity as to when a change to a company’s Memorandum of Incorporation (MOI) will take effect.
Section 16 of the…
This blog was co-authored by: Preshanta Poonan, candidate attorney
The Companies Amendment Bill, 2021 published on 1 October 2021 for public comment proposes amendments to section 26 of the Companies Act of 2008 which outlines the requirements for a company to make documents accessible for inspection to third parties aligned with the provisions of the…
This blog was co-authored by: Hishaam Khan, candidate attorney
As we continue to unpack the proposed amendments of the Companies Amendment Bill, 2021 in this series we consider directors’ remuneration and beneficial ownership.
Director’s remuneration
Remuneration of directors continues to be in focus.
The Bill proposes to introduce various disclosure and reporting requirements in respect…
This blog was co-authored by: Uzair Bulbulia, candidate attorney
On 1 October 2021, the Ministry of Trade, Industry and Competition published the Companies Amendment Bill, 2021 for public comment. The Bill proposes amendments to the requirements for a company to establish a Social and Ethics Committee (SEC) in terms of section 72 of the Companies…
This blog was co-authored by Uzair Bulbulia, candidate attorney
On 1 October 2021, the Ministry of Trade, Industry and Competition published the Companies Amendment Bill, 2021 (2021 Bill) for public comment. The 2021 Bill seeks to amend the Companies Act, 2008 and is a revision of the bill that was published for public…
The number of liquidations and sequestrations will, unfortunately, increase due to the COVID-19 pandemic. Preference shareholders with unsecured loans and third party unsecured creditors must be aware of the ranking of unsecured creditors’ claims in the liquidation process. This note specifically focuses on the unsecured loan given by a preference shareholder and not the ranking…
A director of a company who has a personal financial interest, or knows that a related person has a personal financial interest, in a matter to be considered at a board meeting must disclose that interest and any other material information relating to the matter before it is discussed at the board meeting (section 75…
Voluntary business rescue applications filed with CIPC during 24 March to 30 April 2020 will be processed by CIPC to reflect the dates on which they were filed. These applications do not have to be resubmitted. Similarly, the appointment of business rescue practitioners that were filed with CIPC during 24 March to 30 April 2020…
