1. A key change proposed by Labour Law Amendment Bill, 2025 is the introduction of section 77B into the Basic Condition of Employment Act, 75 of 1997 (BCEA). The proposed change is of particular importance to employers as it seeks to tackle a long-standing challenge concerning unpaid pension and provident fund contributions
On-demand, irrevocable, unconditional, and independent from underlying agreements are some of the fundamental characteristics of performance guarantees in South African infrastructure, construction, and project-related landscapes. This was reaffirmed by the High Court judgment of Bombela Operating Co (Pty) Ltd v Nedbank Ltd and Others.
Performance guarantees include preferred contractor or bid bonds, advance payment
This judgment reviewed a decision by the Financial Services Tribunal which had set aside the debarment of a former financial services representative of the financial services provider (FSP). Despite finding that the Tribunal failed to take relevant facts into consideration, and did not properly consider the fit and proper requirements for purposes of debarment, the
A May 2025 High Court judgment found that a guarantor who failed to reject a second call on an on-demand performance guarantee within five days was bound to honour the demand. The terms of the guarantee incorporated the Uniform Rules for Demand Guarantees (the URDG) which precluded the guarantor from later disputing the demand on
South Africa’s Financial Surveillance Department (FinSurv) has issued a draft framework to license and supervise Alternative Remittance Providers (ARPs) and is seeking public comment by 31 March 2026. The proposal delivers on the 2025 Budget Review and aligns with FATF standards (notably Recommendation 14, which deals with licensing and oversight of money or
The Pretoria High Court held that a pension fund and its administrator lacked standing to seek the Financial Services Tribunal (FST) to reconsider a determination handed down by the Pension Fund’s Adjudicator’s (Adjudicator) , given that they do not fall within the ambit of “persons aggrieved by a decision” under section 230 of the Financial
This blog is co-authored by Eric Geldenhuys, candidate attorney.
SARB’s Market Practitioners Group (MPG) has issued a request for proposals (RFP) to design the calculation and methodology for a forward-looking ZARONIA term rate. There is no commitment to launch. Publication will depend on a robust methodology and sufficient liquidity in ZAR derivatives markets. The MPG
If you offer crypto-related financial services in South Africa, the Financial Sector Conduct Authority (FSCA) has issued a request to which you are required to respond. The FSCA has issued a new information request to better understand the current crypto market, improve oversight, and protect consumers.
What is this request about?
In October
The trust lent and advanced a R20 million loan to the company under a written loan agreement. To secure the loan, a special notarial bond (SNB) was registered over the company’s vehicles, machinery and equipment. The company fell in arrears with its loan repayments and remained in breach of the loan agreement. The trust sought
The prescribed rate of interest is 10.5% per annum with effect from 1 October 2025. The previous rate was 10.75% per annum.
According to the Prescribed Rate of Interest Act, interest on debts where no rate is prescribed is calculated at the repo rate plus 3.5%. The prescribed rate of interest applies to all debts