Susan Bisset

Important amendments to the Trust Property Control Act

By Amber Kardamilakis and Susan Bisset on January 24, 2023 Posted in General

The General Laws (Anti-Money Laundering and Combating Terrorism Financing) Amendment Act, 2022 (Amendment Act), published in the Government Gazette on 29 December 2022, makes key amendments to the Trust Property Control Act, 1988. Most of these amendments will take effect on 1 April 2023. It is important for trustees to familiarise themselves with the Amendment … Continue reading

Proposed law will increase disclosure of control of trusts

By Susan Bisset and Amber Kardamilakis on November 16, 2022 Posted in General

The Trust Property Control Act, 1988 (TPCA) was last amended in 1997. It is a short act that deals on a high level with trust operations and the office of the Master of the High Court as the trust regulator. The General Laws (Anti-Money Laundering and Combating Terrorism Financing) Amendment Bill (B18 – 2022), however, proposes significant … Continue reading

BEE Commission’s fronting findings again set aside as irrational

By Susan Bisset and Amber Kardamilakis on August 16, 2022 Posted in General

Since its establishment, the BEE Commission has held strong views which often diverge from industry practice. The BEE Commission’s views have sometimes resulted in businesses abandoning BEE ownership structures, or other BEE initiatives, altogether. The guidance issued by the Department of Trade, Industry and Competition in 2021 went some way toward clarifying the contradicting views, … Continue reading

Some certainty in public procurement

By Amber Kardamilakis and Susan Bisset on June 24, 2022 Posted in General

State procurement has been in a state of flux over the last three years following a number of developments in the enforceability of the legal framework. State procurement is regulated in terms of the Preferential Procurement Policy Framework Act, 2000 (PPPFA). Since coming into effect on 20 January 2017, the Preferential Procurement Regulations, 2017 have … Continue reading

External companies cannot have prescribed officers

By Christina Pretorius and Susan Bisset on June 16, 2020 Posted in General

An external company is not a company as defined in the Companies Act, and it cannot therefore have prescribed officers with the obligations and liabilities imposed by the Act. Prescribed officers are employees or other persons who, although they are not directors, exercise executive control over a significant part of a company’s business or participate … Continue reading

COVID-19: Is a government announcement law?

By Christina Pretorius and Susan Bisset on April 28, 2020 Posted in General

Since the declaration of a national state of disaster in response to the COVID-19 pandemic, South Africans have been presented almost daily with announcements, as well as regulations and directions issued in terms of the Disaster Management Act (DMA). Regulations and directions are formal law, but a regulator does not have the legal authority to … Continue reading

Government and banks offer debt relief for businesses affected by COVID-19

By Susan Bisset and Christina Pretorius on April 6, 2020 Posted in Banking

As South African businesses suffer the impact of the COVID-19 pandemic and national lockdown, small businesses can apply for debt relief from most of the major South African banks and several state programmes. The Department of Small Business has announced multiple interventions to assist small businesses. In addition to tax subsidies and incentives for compliant … Continue reading