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 […]
Legal Implications of Using AI Generative Services
You would need to be living off the grid and be totally unplugged not to have heard of ChatGPT. It has a massive number of initial subscribers and is touted diametrically opposed as either genius or the start of “the end of days”. Irrespective of the view you might hold, it is critical that your […]
Flawed Corporate Cultures Contribution to Corporate Failures or Scandals, the Board’s Role in Creating a Good Culture, and South Africa’s Governing Framework
1 INTRODUCTION There is no doubt that flawed corporate cultures can contribute to corporate failures or scandals. Research has shown that numerous corporate failures or scandals in corporates across the globe can be attributed in part to the relevant corporate having a flawed corporate culture[1]. This paper will explain how a flawed corporate culture […]
Updates in the Local Data Protection Landscape
This week the Information Regulator issued its first fine. It fined the Department of Justice R5 million for failure to renew antivirus software as instructed. This comes after the deadline for submission by all public and private bodies of a section 32 report under the Promotion of Access to Information Act (‘PAIA’). These acts clearly indicate […]
Liability for Damages Regarding Leaking Balconies of a Sectional Title Scheme Unit
The legal position and liability of the potential damage caused by a balcony leaking onto other balconies below your balcony and/or the damage caused by leaking balconies above your balcony is to be considered in many ways. Firstly, it is important to note that when considering with whom liability lies, one has to consider whether […]