Tag archives: section 45

Indemnity backing an insurance guarantee within a group of companies without section 45 compliance is void

This blog was co-authored by: Luke Schooling, Candidate Attorney The Supreme Court of Appeal held that an indemnity provided by one group company to support an insurance guarantee obtained by another group company was void where the requirements of section 45 of the Companies Act of 2008 (the Act) were not complied with because it … Continue reading

Exclusion of Subsidiary Companies from financial assistance limits

This blog was co-authored by: Tshegofatso Rammutla, Associate; Darragh Meaker, Associate Designate and Devan Falconer, Candidate Attorney. The proposal in the Companies Amendment Bill of 2021 published for public comment on 1 October 2021 for the exclusion of subsidiary companies from the limiting provisions relating to inter-group financial assistance should be enthusiastically supported. Section 45 … Continue reading