DIFFERENT TYPES OF COMMITTEES
Section 72 of the Companies Act No 71 of 2008 (“the Act”) stipulates that a company can elect to appoint any amount of director committees, and the board of directors can delegate any amount of the duties and responsibilities to these committees, except where the Memorandum of Incorporation for the company states otherwise. KING 111 […]
THE RECIPE FOR BUSINESS SUCCESS
“There are those who make it, those who sell it, and those who look after the money.” So, you have finally taken the plunge – you have taken your hard-earned savings and decided to invest it in your new start-up. This was a natural decision for you since you have all the right technical skills, […]
KORPORATIEWE BEHEER: AARD VAN BESLOTE KORPORASIES EN HUL LEDE
Die Maatskappywet No 71 van 2008 (“die Maatskappywet”) hou belangrike gevolge vir beslote korporasies in. Daar kan onder andere geen inkorporasie van nuwe beslote korporasies kragtens die Wet op Beslote Korporasies ná die inwerkingtreding van die Maatskappywet (1 Mei 2011) plaasvind nie en geen maatskappy kan ná 1 Mei 2011 in ’n beslote korporasie omskep […]
KORPORATIEWE BEHEER – DIE VEILIGE BEWARING VAN REKORDS
Die woord “rekords” word in Artikel 1 van die Maatskappywet No 71 van 2008 (“die Wet”), omskryf as enige inligting wat in Artikel 24 van die Wet beoog word. Artikel 24 van die Wet omskryf verskeie rekords wat deur ’n maatskappy gehou moet word, insluitend afskrifte van die maatskappy se Memorandum van Inkorporasie (“MOI”) asook […]
SECTIONAL TITLES AND BODY CORPORATES
When it comes to sectional title schemes, there is still widespread misunderstanding of even the basics, starting with the body corporate and how it is established, as well as what its functions and powers are. This misunderstanding often gives rise to many problems and disputes in sectional title schemes which could quite easily have been […]
RE-INSTATING A COMPANY OR CC
A company or close corporation may be deregistered upon request from the company or close corporation or any other third party. A company or close corporation may also be re-instated. However, since the withdrawal of Practice Note 6 of 2008, and its replacement with Notice 08 of 2017, there are new requirements for the re-instatement. […]
SHOP CLOSED: HOW TO DEREGISTER A COMPANY OR CC
When the time has come to close shop, a company or close corporation may be deregistered upon request from the company or close corporation or any other third party, but only provided that the company or close corporation: has ceased to carry on business; and has no assets or, because of the inadequacy of its […]
EMAIL MANAGEMENT SYSTEM? GET IT BEFORE IT GETS YOU
If your company uses emails to communicate with clients, then it’s not enough to just rely on traditional ways of managing email, such as backing up emails periodically. There needs to be a well-equipped email management system in place that will keep your business safe. The key point that relates to the heavy use of […]
IS YOUR BUSINESS LEGALLY COMPLIANT?
Compliance refers to a company obeying all of the legal laws and regulations regarding how they manage the business, their staff, and their treatment towards their consumers. The point of compliance is to make sure that corporations act responsibly. Is compliance for every business the same? Certain businesses may be required by law to register […]
The Consumer Protection Act and your rights
The South African Consumer Protection Act, No. 68 of 2008 was signed on 24 April 2009 and the purpose of the Act is to protect the interests of all consumers, ensure accessible, transparent and efficient redress for consumers who are subjected to abuse or exploitation in the marketplace and also to give effect to internationally […]