New requirements to re-instate a company or close corporation
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. […]
The Competition Commission: Play fair or else
There has been a lot of activity in the commercial sector regarding unfair behaviour according to the Competition Commission. Claims arose that retail giants blocked rivals by means of exclusive mall leases, which essentially impedes competition by preventing smaller operators from entering the market. A complaint also arose that Ster-Kinekor and Nu Metro engaged in […]
THE COMPULSORY ROTATION OF AUDITORS
Every public and state-owned company has to appoint an auditor and a company secretary. However, in terms of section 92 of the Companies Act, 2008, the same individual is not allowed to serve as the auditor or designated auditor of a company for more than 5 consecutive financial years. What does this mean for my […]
HOW TO REGISTER A TRADEMARK IN 2017
If you have a business and wish to keep competitors from using, or misusing, your brand, then you should consider registering a trade mark for your company’s name and logo. A trade mark can only be protected and defended under the Trade Marks Act, 1993, if it is registered. However, unregistered trade marks may be […]
HOW TO REGISTER A TRADEMARK IN 2017
If you have a business and wish to keep competitors from using, or misusing, your brand, then you should consider registering a trade mark for your company’s name and logo. A trade mark can only be protected and defended under the Trade Marks Act, 1993, if it is registered. However, unregistered trade marks may be […]
HOW TO REGISTER A NEW COMPANY
The basic steps to register a company under the Companies Act of 2008 at the Companies and Intellectual Property Commission (CIPC) involves certain forms and supporting documentation that must be lodged and the accompanied fees paid. The steps The first step in registering a new company is optional. A CoR9.1 form must be completed and […]
COMMENCEMENT OF BUSINESS RESCUE PROCEEDINGS
Is your company experiencing financial strain? Are creditors breathing down your neck? Business Rescue proceedings may be a solution to your problems. Business Rescue is a new approach that is governed by the Companies Act 71 of 2008 (“the new Companies Act”) with the aim of assisting companies which are experiencing financial strain and are […]
JURISDICTION OF COURTS IN MATTERS INVOLVING COMPANIES
Traditionally, and under the previous Companies Act, a company could have a principal place of business and a registered office. A company could, for instance, conduct its business at one office and also have a registered office with its auditors. In terms of the 1973 Companies Act any division of the High Court where a […]
WHO MAY BE APPOINTED AS DIRECTOR?
Certain people are not eligible to be appointed as directors of a company. In this article we look at who is disqualified from being a director as well as the effects of the actions of such persons while still acting as director. A company must not knowingly permit an ineligible or disqualified person to serve […]
SUCCESSION PLANNING
Owning a business requires careful succession planning and is part of your estate planning as you have to determine who will succeed you, or who will purchase your shares, or who will be entitled to the income after your death. The future ownership of your business is at stake. A Partnership automatically dissolves upon the […]