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Filter: Companies Act
The Companies Amendment Act puts directors in the hot seat

03 October 2024

Recent amendments to the Companies Act—through the Companies Amendment Act 16 of 2024 and Companies Amendment Act 17 of 2024... (collectively referred to as the “Amendment Acts”)—introduce a host of changes that all directors need to be aware of. This article offers an overview of the significant updates to the Act.  

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205
Article
Deregistration looms for non-compliant companies

24 July 2024

The recent ruling of Goosen v Minister of Trade and Industry and Others (EL 639/2024) [2024] ZAECELLC 28 highlights the... critical duty companies have to file annual returns with the Companies and Intellectual Property Commission (CIPC) and the significance of the procedures companies must follow to reinstate a deregistered company. 

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128
Article
Where does director liability end?

26 June 2024

The actions of a company director are often seen as the actions of the company, leading to the perception that... where a company has potentially caused harm or damage at the direction of its directors, the directors are automatically liable for such loss or damage. Our Supreme Court of Appeal recently had occasion to consider this position and when directors can be held liable.

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168
Article
Should you bother with a shareholders’ agreement?

19 May 2022

You’ve decided to set up a company or have had a company for a while but have never gotten so... far as to have a shareholders’ agreement drawn up for the company shareholders. You’ve wondered if it’s necessary or even what the point of a shareholders’ agreement is. In this article we briefly explain the purpose of these company documents and how they relate to each other.

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1038
Article
When must a director disclose a financial interest?

08 February 2022

Being a director in a company does not necessarily stop you from holding shares in other companies. However, should your... company transact with another company in which you have a shareholding stake and from which you could potentially benefit, it becomes important that you disclose such financial interest to your co-directors, even if you can’t influence the transaction.

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788
Article
Companies Act Amendment Bill – less red tape or more?

14 December 2021

I understand there are amendments being proposed to the Companies Act? Will this help make life easier or harder for... our company? It feels as if there is always just more red tape whenever the law changes.

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866
Article
How long is a proxy valid for?

14 September 2021

I was recently appointed as a proxy to represent a shareholder at an upcoming shareholders meeting. Unfortunately, the meeting has... been rescheduled two months later, and I was wondering if the proxy will still be valid then or would I need to have a new proxy issued by the shareholder for the meeting?

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1058
Article
Phantom share schemes – a very real option for incentivising your key staff

20 May 2021

Our family owns a very successful agriculture company that has been built up over the years by our family. We... have a number of employees that have also shown their value to the business and we would like to retain and reward them by giving them shares in the business. However, we feel strongly about the family nature of our business and don’t want a large number of shareholders with accompanying shareholder rights we have to involve in every decision. Is this possible to achieve?

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1742
Article
The rights of a dissenting shareholder in a scheme of arrangement

10 November 2020

I’m a minority shareholder in a company that has been approached by a buyer willing to buy out all the... shareholders. Because of Covid-19 the company has suffered financially and I know that the shareholders holding more than 75% of the company will want to accept the offer even though I believe it to be far below the market value of the shares. Is there any remedy at my disposal?

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812
Article

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