PAIA Annual Report Submission Reminder
It’s that time of year again, all private bodies in South Africa are required to submit their annual PAIA (Promotion of Access to Information Act) reports to the Information Regulator. This reporting period opened on 1 April 2025, and the final deadline is 30 June 2025. This annual obligation helps the Information Regulator monitor compliance […]
Companies Act Amendments and the Amended Effective Date for New MOIs or MOI Amendments
Various amendments to the Companies Act (Act 71 of 2008) came into effect on 27 December 2024. These amendments were contained in the Companies Amendment Act (Act 16 of 2024) and in the Companies Second Amendment Act (Act 17 of 2024). One of these amendments was to section s16(9)(b). This section describes when an amendment […]
Guidance Note on Direct Marketing
On the 3rd of December 2024 the Information Regulator published a Guidance Note on Direct Marketing (“the note”). The note essentially expanded the definition of electronic communications to include voice and sound messages including automated voice messages. This in turn expanded the ambit of what the rules on direct marketing applied to in the context […]
Companies Act Amendments To Share Buy Backs, Resulting In Potential MOI Amendments
Various amendments to the Companies Act (Act 71 of 2008) came into effect on 27 December 2024. These amendments were contained in the Companies Amendment Act (Act 16 of 2024) and in the Companies Second Amendment Act (Act 17 of 2024). As a result of the amendments made to section 48(8), which governs share buy […]
Minister Parks Tau Approves The Legal Sector Code In Terms of Section 9(1) of The B-BBEE Act
UPDATE: The B-BBEE Legal Sector Code is now in effect! Gazetted on 20 September 2024, the B-BBEE Legal Sector Code takes effect immediately. You can access a copy of the Codes here. Our B-BBEE specialist consultant is available to assist clients with interpreting and applying the new Codes. To address some immediate concerns: • Existing […]
The Company That Owes Me Money Has Been Liquidated, Now What?
Commissions of Enquiry as set out in Sections 415 and 417/418 of the Companies Act serve as a vital tool for unveiling and unravelling possible misconduct or mismanagement within a company, prior to liquidation. Through these enquiries, a liquidator or creditor can confidentially gather crucial information essential for winding up the company’s affairs, which may […]
Tackling the Tough Times: Proactive Strategies for Businesses Facing Financial Difficulties
In the midst of South Africa’s current economic rollercoaster, businesses, both big and small, are facing their fair share of challenges. Think frequent power outages, rising interest rates, along with never-ending petrol price and interest rate hikes. These obstacles are enough to make anyone’s head spin and so it becomes imperative for businesses to adopt […]
Court Order Confirms Law Firms Exempt from Business Account Audits
An important declaratory order was handed down by the Gauteng High Court in mid-April, which declares that legal practices (aka law firms) that are incorporated as personal liability companies are EXEMPT under section 30(2A) of the Companies Act from having their annual financial statements audited or independently reviewed. This court application was brought by the […]
Embracing Passion: Abigail Reynolds’ Journey from Masters to Volunteerism
In a world often consumed by the hustle and bustle of career pursuits, it’s refreshing to encounter individuals like Abigail, the Principal Attorney of Reynolds Attorneys, who not only excel in their professional endeavours but also channel their free time towards noble causes. Abigail’s story is one of dedication, selflessness, and a deep-seated love […]
Deemed Offer Clauses, and a Change of Control of Shareholders
A deemed offer clause is one of the important clauses that are commonly included in a company’s memorandum of incorporation (“MOI”) or shareholders agreement. It records various trigger events which, once one occurs, automatically deem the shareholder to which it has occurred to have offered all of its shares in the company for sale to […]