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Journal articles on the topic 'Companies act no. 71 of 2008'

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Published: 4 June 2021

Last updated: 1 February 2022

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1

Cassim, Rehana. "Delinquent Directors under the Companies Act 71 of 2008: Gihwala v Grancy Property Limited 2016 ZASCA 35." Potchefstroom Electronic Law Journal/Potchefstroomse Elektroniese Regsblad 19 (October 6, 2016): 1. http://dx.doi.org/10.17159/1727-3781/2016/v19i0a1246.

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The Companies Act 71 of 2008 has introduced into our company law an innovative provision which permits a wide range of persons to apply to court to declare a director delinquent. This provision is contained in section 162 of the Companies Act 71 of 2008. The effect of an order of delinquency is that a person is disqualified for a specified period from being a director of a company. In Gihwala v Grancy Property Limited [2016] ZASCA 35 the Supreme Court of Appeal was faced with some important questions surrounding the declaration of delinquency of a director. It was contended by the appellants t

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Schoeman, Heidi C. "The Rights Granted to Trade Unions under the Companies Act 71 of 2008." Potchefstroom Electronic Law Journal/Potchefstroomse Elektroniese Regsblad 16, no. 3 (2017): 236. http://dx.doi.org/10.17159/1727-3781/2013/v16i3a2365.

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With the entering into force of the Companies Act 71 of 2008 in 2011 a number of rights were granted to trade unions by the act. The Companies Act 71 of 2008 not only grants rights to registered trade unions, as is the case in labour law, but in some cases it grants rights to trade unions representing employees at the workplace. It is argued that rights afforded to trade unions by the act ought to be granted only to trade unions that are registered in terms of the Labour Relations Act 66 of 1995. In addition, it is also argued that the Companies Act 71 of 2008 ought in principle to differentia

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Madlela, Vela. "The Appointment of a Proxy "At Any Time" in Terms of Section 58 of the Companies Act 71 of 2008: Richard Du Plessis Barry v Clearwater Estates NPC [2017] ZASCA 11." Potchefstroom Electronic Law Journal 22 (January 31, 2019): 1–27. http://dx.doi.org/10.17159/1727-3781/2019/v22i0a4401.

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Section 58(1) of the Companies Act 71 of 2008 gives a shareholder the right to appoint a proxy "at any time" for the purpose of participating in, speaking and voting on behalf of that shareholder at a shareholders′ meeting, or providing or withholding written consent on behalf of the shareholder in terms of section 60. One important issue that arises in regard to the appointment of a proxy relates to the proper interpretation of section 58(1) of the Companies Act 71 of 2008, namely whether this section, as read with section 58(3)(c), constitutes an unalterable provision giving a shareholder an

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Phakeng, M. "REGULATION OF MERGERS AND ACQUISITIONS IN TERMS OF THE SOUTH AFRICAN COMPANIES ACT 71 OF 2008: AN OVERVIEW." BRICS Law Journal 7, no. 1 (2020): 91–118. http://dx.doi.org/10.21684/2412-2343-2020-7-1-91-118.

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The Companies Act 71 of 2008 (the 2008 Act) replaced the Companies Act No. 61 of 1973, effective 1 May 2011. The 2008 Act was aimed at keeping pace with developments in company law internationally. It is not intended to entirely replace the well-established principles and has largely retained the pre-existing South African company law. The mergers and acquisitions provisions are aimed at creating transparent, efficient, and simple procedures. Different types of mergers and acquisitions are clearly defined as “affected transactions” or “offers” in section 117. Section 118 provides for companies

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Cassim, Rehana. "The Device of Weighted Votes in Blocking the Removal of Directors from Office under the South African Companies Act 71 of 2008." Journal of African Law 63, no. 2 (2019): 281–302. http://dx.doi.org/10.1017/s0021855319000172.

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AbstractA director may serve a company in more than one capacity. In his capacity as a shareholder, a director may hold voting rights in the company. One consideration regarding the removal of a director from office is their removal by shareholders in circumstances where the directors are themselves shareholders in the company and hold weighted votes. This article appraises whether, under the South African Companies Act 71 of 2008, a shareholding-director who holds shares with weighted votes would validly and lawfully be able to block his removal from office by the company's shareholders. This

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Bidie, Simphiwe. "Director's Duty to Act for a Proper Purpose in the Context of Distribution under the Companies Act 71 of 2008." Potchefstroom Electronic Law Journal 22 (September 19, 2019): 1–45. http://dx.doi.org/10.17159/1727-3781/2019/v22i0a4221.

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This paper seeks to critically analyse the requirements of the duty imposed on directors to act for a proper purpose as provided in section 76(3)(a) of the 2008 Act (Companies Act 71 of 2008) whenever they distribute company money and/or property. This analysis is conducted with the obligations imposed under sections 4 and 46 of the 2008 Act in mind. The purpose is not to question the inclusion of this duty in the 2008 Act. It is simply to question whether the common law interpretation of the duty still suffices in the face of section 76(3) of the 2008 Act, which seems to suggest that a differ

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Cassim, Rehana. "The Suspension and Setting Aside of Delinquency and Probation Orders under the Companies Act 71 of 2008." Potchefstroom Electronic Law Journal 22 (November 5, 2019): 1–30. http://dx.doi.org/10.17159/1727-3781/2019/v22i0a6080.

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A significant innovation of the Companies Act 71 of 2008 is contained in section 162. This provision empowers a court to declare a director delinquent or under probation on various grounds. The effect of a delinquency order is that a person is disqualified from being a director of a company, while being placed under probation means that he or she may not serve as a director except to the extent permitted by the order. A delinquency order may be unconditional and subsist for the director's lifetime, or it may be conditional and be effective for seven years or longer, as determined by the court.

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Kilian, Neels. "A South African–Australian Perspective on the Legal Implications Related to being “Entitled to Serve” as a Director." Potchefstroom Electronic Law Journal 23 (July 23, 2020): 1–27. http://dx.doi.org/10.17159/1727-3781/2020/v23i0a8174.

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This article focuses on an Australian piece of legislation and interesting case law, as well as how the Federal Court of Australia has applied Australia’s Corporations Act 2001, to characterise a person as a de facto director – that is, as a professed director whose appointment as such was defective. In this regard, the decisions of that Court will, as envisaged in the Constitution of the Republic of South Africa 1996, constitute persuasive authority. The Australian decision to be discussed in this article is significant in that the South African Companies Act 71 of 2008 does not contain subst

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9

Rautenbach, Christa, and Brighton M. Mupangavanhu. "Impact of the Constitution's Normative Framework on the Interpretation of Provisions of the Companies Act 71 of 2008." Potchefstroom Electronic Law Journal 22 (November 6, 2019): 1–24. http://dx.doi.org/10.17159/1727-3781/2019/v22i0a7417.

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Given the intention of section 7(a) of the Companies Act 71 of 2008 (the Act) to promote compliance with the Bill of Rights in the interpretation and application of company law in SA, this article assesses the extent to which the Act actually does this. The article thus seeks to showcase evidence of the Act's intentional alignment with the normative framework of the Constitution of the Republic of South Africa, 1996 (the Constitution). The paper does this by answering the question: what are the implications of the Constitution's normative framework on the interpretation and application of the

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Boraine, A. "Formal Debt-Relief, Rescue and Liquidation Options for External Companies in South Africa." BRICS Law Journal 7, no. 4 (2020): 85–126. http://dx.doi.org/10.21684/2412-2343-2020-7-4-85-126.

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This article discusses how foreign companies doing business in South Africa during periods of financial distress and registered locally as external companies are, as a recent High Court decision confirms, denied the formal debt-relief measures of business rescue and therefore a compromise with creditors because of being excluded by the definition of “company” in the Companies Act 71 of 2008. Nor, for the same reason, may these companies, if solvent, rely on the current liquidation procedures. But they may possibly use the procedure preserved in the otherwise repealed Companies Act 61 of 1973 f

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Morajane, Tebogo. "The Binding Effect of the Constitutive Documents of Companies: The 1973 and 2008 Companies Acts of South Africa." Potchefstroom Electronic Law Journal/Potchefstroomse Elektroniese Regsblad 13, no. 1 (2017): 170. http://dx.doi.org/10.17159/1727-3781/2010/v13i1a2631.

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This contribution examines the provisions of the constitutive documents of companies under two specific provisions, namely s 65(2) of the Companies Act 61 of 1973 and s 15(6) of the Companies Act 71 of 2008. The aim is to determine who is bound by these provisions, the circumstances which give rise to being bound by them, and the possible effect thereof on various parties. The provisions of the constitutive documents under section 65(2) of the 1973 Companies Act are interpreted by courts and academic writers to amount to a statutory contract between a company and its members and between member

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Maroun, Warren, and Harvey Wainer. "To report or not to report." South African Journal of Economic and Management Sciences 16, no. 1 (2013): 13–25. http://dx.doi.org/10.4102/sajems.v16i1.332.

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Whistle-blowing can play an important role in enhancing the effectiveness of corporate governance processes. In particular, legislation mandating that auditors blow the whistle on their clients’ transgressions can assist in overcoming agency-related costs and improve confidence in external audit. This is, however, only the case if regulatory reform enjoys cohesion. The Companies Act No. 71 of 2008, by introducing a definition of ‘reportable irregularities’ different from that in the Auditing Profession Act No. 26 of 2005 (APA); excluding ‘independent reviews’ from the scope of APA; and effecti

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Subramanien, Darren. "Section 165(5)(b) of the Companies Act 71 of 2008: A discussion of the requirement of good faith." Journal of Corporate and Commercial Law & Practice, The 6, no. 2 (2020): 212–32. http://dx.doi.org/10.47348/jccl/v6/i2a8.

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In terms of s 165(5)(b) of the Companies Act 71 of 2008, ‘the court must be satisfied that the applicant is acting in good faith’; that ‘the proceedings involve the trial of a serious question of material consequence to the company’; and that it is ‘in the best interests of the company’ that the applicant(s) be granted leave. The legislature has chosen to provide guiding criteria that are vague and general rather than detailed legal steps for the exercising of judicial discretion. It would therefore be open to the courts to provide an interpretation of the words found in s 165(5)(b) especially

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Njotini, Mzukisi. "Securing Shareholder Information in the Digital Age – An Analysis of the Proposed Amendments to Section 26 of the Companies Act." South African Mercantile Law Journal 32, no. 3 (2020): 334–59. http://dx.doi.org/10.47348/samlj/v32/i3a2.

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Amending company legislation has become a common occurrence in South Africa. The legislature has passed a number of statutes to alter the principles regulating corporate entities. It is noteworthy that the Companies Act 71 of 2008 is the most substantial of these amending statutes. This Act harmonised the legal principles governing the operation of companies, and brought companies closer to the developmental needs of society. It sought to promote economic grown, investor confidence and foreign investment, and accelerate the transportation of goods and services globally. Because of the need for

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Luiz, Stephanie M. "Some Comments on the Scheme of Arrangement as an "Affected Transaction" as Defined in the Companies Act 71 of 2008." Potchefstroom Electronic Law Journal/Potchefstroomse Elektroniese Regsblad 15, no. 5 (2017): 101. http://dx.doi.org/10.17159/1727-3781/2012/v15i5a2521.

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A scheme of arrangement involving a regulated company and its shareholders is defined as an "affected transaction" in the Companies Act 71 of 2008. Although scheme of arrangements, which can be used to achieve a takeover of a company, are a common occurrence, the Act provides no definition of such schemes. The importance of knowing what actually constitutes a scheme of arrangement becomes apparent when it is noted that section 121 of the Actprovides that any person making an offer which if accepted would result in an affected transaction is obliged to comply with all the relevant reporting and

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Phiri, Siphethile. "Piercing the corporate veil: A critical analysis of section 20(9) of the South African Companies Act 71 of 2008." Corporate & Business Strategy Review 1, no. 1 (2020): 17–26. http://dx.doi.org/10.22495/cbsrv1i1art2.

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When a company is incorporated it becomes a juristic entity with rights and obligations of its own and is distinct from its shareholders and directors. Hence, company liabilities are not those of its shareholders and directors. However, section 20(9) of the Companies Act 71 of 2008 grants the court the discretion to disregard the corporate veil where there is an unconscionable abuse of the juristic personality so as to impose personal liability upon directors or any other person involved in that transaction. However, the section fails to define what constitutes “unconscionable abuse” which is

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17

Pretorius, M., and W. Rosslyn-Smith. "Expectations of a business rescue plan: international directives for Chapter 6 implementation." Southern African Business Review 18, no. 2 (2019): 108–39. http://dx.doi.org/10.25159/1998-8125/5681.

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Preliminary analysis of business rescue plans suggested that a significant contrast exists between international reorganizational plans and those being published under the newly formed business rescue regime in South Africa. Since the South African regime has emerged from an international insolvency framework, an international benchmark was used to effectively assist in creating an evaluation tool. To better understand the expectations demanded of the plan, principles from comparable international regimes were identified. Data on regimes were obtained scrutinised and reported on; the expectati

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18

Olivier, Etienne A. "The impact of the capacity provisions in the Companies Act 71 of 2008 on the insolvency-remoteness of limited capacity special purpose vehicles used in securitisation schemes." Journal of Corporate and Commercial Law & Practice, The 6, no. 2 (2020): 82–111. http://dx.doi.org/10.47348/jccl/v6/i2a3.

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The insolvency-remoteness of a special purpose vehicle (SPV) used in a securitisation scheme is of critical importance, because insolvency of the SPV can interrupt the payment streams due to the investors in such schemes. Several contractual methods are implemented to achieve insolvency-remoteness. In this article, it is argued that pacta de non petendo (non-petition clauses), limited recourse provisions, and subordination clauses, all common insolvency-remoteness provisions, do not violate public policy. It is also argued that the capacity provisions in the Companies Act 71 of 2008 (the Act)

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Cassim, Rehana. "Notes: Declaring directors of state-owned entities delinquent: Organisation Undoing Tax Abuse v Myeni." South African Law Journal 138, no. 1 (2021): 1–19. http://dx.doi.org/10.47348/salj/v138/i1a1.

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This note discusses and critically analyses the judgment in Organisation Undoing Tax Abuse v Myeni [2020] 3 All SA 578 (GP), in which the court declared a director delinquent for her lifetime in terms of s 162(5) of the Companies Act 71 of 2008. The basis of the application related to the director’s conduct while she was a nonexecutive director and chairperson of South African Airways SOC Ltd. The judgment is commendable for its strict stance against errant directors of state-owned companies. It is the first delinquency application brought by a party acting in the public interest, and the firs

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Maloka, Tumo Charles, and Shandukani Muthugulu-Ugoda. "DEADLOCK PRINCIPLE AS A GROUND FOR JUST AND EQUITABLE WINDING UP OF A SOLVENT COMPANY: THUNDER CATS INVESTMENTS 92 (PTY) LTD V NKONJANE ECONOMIC PROSPECTING INVESTMENT (PTY) LTD 2014 5 SA 1 (SCA)." Potchefstroom Electronic Law Journal/Potchefstroomse Elektroniese Regsblad 19 (August 15, 2016): 1. http://dx.doi.org/10.17159/1727-3781/2016/v19i0a1153.

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The question addressed by the Supreme Court of Appeal in Thunder Cats Investment 92 (Pty) Ltd v Nkonjane Economic Prospecting & Investments (Pty) Ltd 2014 5 SA 1 (SCA) (hereafter the "Thunder Cats") provides much-needed guidance on the deadlock principle as well as the breadth and scope of the "just and equitable ground for winding up in terms of s 81(1)(d) (iii) of the Companies Act 71 of 2008. The facts, the issues and the contextual authority of Thunder Cats also bring to fore the lacuna in the just and equitable winding up provisions of the current Companies Act which lacuna has so far

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Nwafor, Anthony. "Protection of shareholders class rights in company law." International Journal of Law and Management 63, no. 5 (2021): 517–34. http://dx.doi.org/10.1108/ijlma-11-2020-0288.

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Purpose A company that is registered with share capital may issue different classes of shares and may confer rights on members, which place them in different classes in the company’s organisational structure. This paper is concerned with the propensity for encroachment on such vested class rights as companies strive to wriggle out of business challenges spawn by the COVID-19 pandemic. The purpose of this study is to ascertain the extent of protection that the law accords to the different classes of shareholders and members in a company especially when the company seeks to vary the vested class

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Mupangavanhu, Brighton M. "Standard of Conduct or Standard of Review? Examination of an African Business Judgment Rule under South Africa's Companies Act 71 of 2008." Journal of African Law 63, no. 1 (2019): 127–50. http://dx.doi.org/10.1017/s002185531800027x.

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AbstractThis article highlights that section 76(4)(a) of South Africa's Companies Act, which reflects the business judgment rule (BJR) concept, is a standard of review, providing a means of determining whether a director has met his or her undertakings under section 76(3). The article suggests that section 76 should be titled “Standards of conduct and review” instead of referring only to standards of conduct. It draws a clear distinction between standards of conduct (including the personal financial interests disclosure requirements) on one hand, and a standard of review on the other. After tr

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Jijana, Cawekazi, Nishika Chetty, and Anis Mahomed Karodia. "Investigating the Nature , Purpose and Effectiveness of Business Rescue in South Africa : Chapter 6 of Companies Act 71 of 2008 as Amended." Singaporean Journal of Business Economics and Management Studies 4, no. 11 (2016): 37–75. http://dx.doi.org/10.12816/0027222.

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Chetty, Nishika, Cawekazi Jijana, and Anis Mahomed Karodia. "Investigating the Nature , Purpose and Effectiveness of Business Rescue in South Africa : Chapter 6 of Companies Act 71 of 2008 as Amended." Kuwait Chapter of Arabian Journal of Business and Management Review 5, no. 3 (2015): 70–110. http://dx.doi.org/10.12816/0019019.

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Stevens, Richard Arno. "The Legal Nature of the Duty of Care and Skill." Potchefstroom Electronic Law Journal/Potchefstroomse Elektroniese Regsblad 20 (January 3, 2017): 1. http://dx.doi.org/10.17159/1727-3781/2017/v20i0a1202.

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Section 77(2)(b) of the Companies Act 71 of 2008 (“the Act”) provides that a director of a company may be held liable based on the common law principles relating to delict for any losses or damages which the company suffer due to a breach of the duty of care in skill in terms of s76(3)(c), losses due to a breach of a provision of the Act not mentioned in section 77 and losses due to the contravention of any provisions of the memorandum of incorporation (“MoI”) of the company. This article poses the question whether the legislature was correct in formulating the legal nature of the duty of care

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Pillay, Dr Surendran, Dr Rajendra Rajaram, and Kajal Ramnanun. "Ascertaining the Impact of Post-Commencement Finance on Business Rescue in Kwazulu-Natal, South Africa." Journal of Social Sciences Research, no. 63 (March 24, 2020): 236–44. http://dx.doi.org/10.32861/jssr.63.236.244.

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Corporate rescue in South Africa has been bedevilled by many challenges. The new South African Companies Act 71 of 2008 (hereafter referred to as “the Act”), which came into effect in May 2011 contains a new chapter titled “Business rescue and Compromise with Creditors”. Post commencement finance (PCF) is finance or credit approved for a company in business rescue, which is regulated by section 135 of the South African Companies Act. The Act provides for companies to secure PCF as turnaround investment to secure its financial well-being. However, it is difficult for a distressed business to ac

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Rosslyn-Smith, Wesley, and Marius Pretorius. "Stakeholder expectations of the Business Rescue Plan from a South African perspective." Southern African Journal of Entrepreneurship and Small Business Management 7, no. 1 (2015): 1. http://dx.doi.org/10.4102/sajesbm.v7i1.4.

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<p><strong>Background:</strong> A business rescue plan has to comply with a new and vague set of obligations regulated by South African legislation. Expectations of the plan are largely unknown, yet crucial in determining compliance. Establishing an effective benchmark for the plan is essential for the growth and success of the industry.</p><p><strong>Purpose:</strong> The study set out to answer these questions: What are the most crucial elements needed to fill the gap between the specifics of the Companies Act (2008) and the further elements needed t

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Le Roux, Ingrid, and Kelly Duncan. "The naked truth: creditor understanding of Business Rescue: A Small Business perspective." Southern African Journal of Entrepreneurship and Small Business Management 6, no. 1 (2013): 57. http://dx.doi.org/10.4102/sajesbm.v6i1.33.

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<p><strong>Purpose:</strong> to study the level of knowledge and awareness of business rescue of entrepreneurs who are potential creditors of businesses filing for rescue, and to identify the major issues and concerns from the creditors’ point of view.</p><p><strong>Methodology:</strong> the design of the study was a survey to examine the level of knowledge, awareness and experience of Chapter 6 of The South African Companies Act No. 71 of 2008 and to seek to describe the status from a creditor’s perspective.</p><p><strong>Findings:&l

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Biggs, A. K., C. B. Scheepers, and M. M. Botha. "The influence of post-2008 legislation on an acquisition that turned hostile: A South African case study." South African Journal of Business Management 48, no. 3 (2017): 47–62. http://dx.doi.org/10.4102/sajbm.v48i3.35.

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Hostile acquisitions have a significant impact on managers and employees. The possibility of an acquisition creates uncertainty and when the acquisition turns hostile it is even more disruptive to the target organisation. Also, negative perceptions are often created in the media about the acquirer that influence employees’ attitudes in the target organisation. Processes to successfully integrate the acquirer and target organisations are impacted by these antagonistic pre-acquisition circumstances. The Companies Act (no.71 of 2008) created opportunities for shareholders to hold an acquired comp

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Mongalo, Tshepo H. "Notes: The unlamented demise of the common-law derivative action: A note remembering Michael Larkin." South African Law Journal 138, no. 3 (2021): 508–21. http://dx.doi.org/10.47348/salj/v138/i3a3.

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This contribution presents an exposition of how the common-law rules relevant to the common-law derivative action would have clashed with the current statutory derivative action remedy had the common law not been repealed by s 165(1) of the Companies Act 71 of 2008. The analysis of the possible impact of the common law is a relevant and timely one — irrespective of the fact that a statutory derivative action and remedy has been introduced in s 165(2) of the Companies Act — as it provides lessons to policy-makers on how to deal effectively with common-law rules whose time has passed and must be

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Mpofu, Kudzai, Anthony O. Nwafor, and Koboro J. Selala. "Exploring the role of the business rescue practitioner in rescuing a financially distressed company." Corporate Board role duties and composition 14, no. 2 (2018): 20–26. http://dx.doi.org/10.22495/cbv14i2art2.

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The emphasis on corporate sustainability as against liquidation in the South African Companies Act 71 of 2008 creates an important figure in the person of the business rescue practitioner. The practitioner in that capacity supplants the board and is insulated from the relevant elements of shareholder control in the discharge of the task of rescuing the financially distressed company. The article interrogates, through doctrinal approach, the efficacy of the statutory provisions relating to the role of the business rescue practitioner in the business rescue process and argues against the disqual

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Mupangavanhu, Brighton M. "Evolving Statutory Derivative Action Principles in South Africa: The Good Faith Criterion and Other Legal Grounds." Journal of African Law 65, no. 2 (2021): 293–311. http://dx.doi.org/10.1017/s0021855321000115.

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AbstractThe recent Supreme Court of Appeal (SCA) judgment in Lazarus Mbethe v United Manganese of Kalahari raises jurisprudential questions regarding statutory derivative actions in South Africa. For example, the SCA did not agree with the court a quo's ruling that the discretion to be exercised by the court is limited by provisions of section 165(5). The SCA also questioned whether it is necessary for South African courts to follow the good faith criterion in the Australian case of Swansson v Pratt as adopted into South African law through Mouritzen v Greystones Enterprises (Pty) Ltd & An

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Nwafor, Anthony O. "Moratorium in business rescue scheme and the protection of company’s creditors." Corporate Board role duties and composition 13, no. 1 (2017): 59–67. http://dx.doi.org/10.22495/cbv13i1p6.

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The concept of business rescue has been acknowledged as one of the innovative paths towed by the South African Companies Act 71 of 2008. The primary purpose of business rescue, as set down by the law, is to facilitate the rehabilitation of a company that is in financial distress. Attaining that purpose could, however, come at a price to the company’s creditors. The law imposes a temporary restriction on legal proceedings, enforcement actions and the property rights of creditors. Unless the written consent of the business rescue practitioner or the leave of the court is first sought and obtaine

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Pretorius, Marius, and Wanya Du Preez. "Constraints on decision making regarding post-commencement finance in Business rescue." Southern African Journal of Entrepreneurship and Small Business Management 6, no. 1 (2013): 168. http://dx.doi.org/10.4102/sajesbm.v6i1.39.

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<p>Since its introduction, business rescue has become a critical consideration in business strategy decision making. One of the critical components of business rescue, which appears largely unsuccessful to date, involves securing post-commencement finance (PCF) to restore the company’s financial health. Despite extensive theory in the literature on failure, there is a void regarding post-commencement finance. Specialist practitioners and financiers with extensive experience in rescue and turnaround were interviewed in this study. Findings showed that many critical factors and reasons for

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Botha, Monray Marsellus. "The Different Worlds of Labour and Company Law: Truth or Myth?" Potchefstroom Electronic Law Journal/Potchefstroomse Elektroniese Regsblad 17, no. 5 (2017): 2103. http://dx.doi.org/10.17159/1727-3781/2014/v17i5a2157.

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Recently the South African company law landscape underwent a dramatic overhaul with the introduction of the Companies Act 71 of 2008. Central to company law is the promotion of corporate governance. It is clear that companies are no longer accountable just to their shareholders but also to society at large. Leaders should, for example, direct company strategies and operations with a view to achieving the triple bottom-line (economic, social and environmental performance) and should thus also manage the business in a sustainable manner. An important question in company law still today is in who

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Kloppers, Henk J. "Driving Corporate Social Responsibility (CSR) through the Companies Act: an Overview of the Role of the Social and Ethics Committee." Potchefstroom Electronic Law Journal/Potchefstroomse Elektroniese Regsblad 16, no. 1 (2017): 165. http://dx.doi.org/10.17159/1727-3781/2013/v16i1a2307.

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The corporate social responsibility (CSR) movement can be described as a bundle of trends comprising regulatory frameworks aimed at improving corporate practices and leading to changes in these practices, the mobilisation of corporate role players to support the development of states, and a management trend the purpose of which is to enhance the legitimacy of a business. Government is regarded as one of the most important driving forces behind the CSR agenda and it has a particularly important role to play in the creation of an enabling CSR environment. In general, advocates of legislative inv

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Lu, Zhiqiang, Zaina Parvez Qureshi, Brian Chen, et al. "Why Is Cancer Care So Expensive: Potential Implications of Fraud and Abuse." Blood 120, no. 21 (2012): 4275. http://dx.doi.org/10.1182/blood.v120.21.4275.4275.

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Abstract Abstract 4275 Introduction: Annually, $82 billion to $272 billion is reportedly lost to federal health care fraud. Between 1996 and 2005, 379 federal health care fraud cases initiated by qui tam relators (“whistle blowers”) concluded, resulting in $9.3 billion in recoveries. Of these, pharmaceutical companies accounted for 13 cases (False Claims Act (FCA) cases, the primary statute invoked in health care fraud and abuse), but $3.9 billion of recoveries (4% of the cases and 39% of the financial recoveries). We report concluded FCA cases involving pharmaceutical manufacturers between 20

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Tshipa, Jonty, Leon Brummer, Hendrik Wolmarans, and Elda Du Toit. "The impact of flexible corporate governance disclosures on value relevance. Empirical evidence from South Africa." Corporate Governance: The International Journal of Business in Society 18, no. 3 (2018): 369–85. http://dx.doi.org/10.1108/cg-05-2017-0106.

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PurposeConsidering that the Johannesburg Stock Exchange (JSE) has enacted in its Listings Requirements, compliance of listed firms to International Financial Reporting Standards (IFRS) and King Code of Good Corporate Governance, this study aims to investigate the impact of internal corporate governance attributes on the value relevance of accounting information in South Africa.Design/methodology/approachThe fixed effect generalised least squares regression is used for the period from 2002 to 2014. Proxies for internal corporate governance are the size of the board, leadership structure, board

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Rautenbach, Christa. "Editorial." Potchefstroom Electronic Law Journal/Potchefstroomse Elektroniese Regsblad 16, no. 1 (2017): 0. http://dx.doi.org/10.17159/1727-3781/2013/v16i1a2330.

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The first issue of 2013 contains fifteen contributions dealing with a potpourri of themes. The first contribution is an oratio presented by the retired Dean of the Faculty of Law of the NWU and former editor of PER, Francois Venter, during his exodus in October 2012. He gave his presentation in his mother tongue, Afrikaans, and asks the question if one may assume that being a professor entails belonging to a profession, in other words, an academic profession. The second oratio was a keynote speech delivered by Torsten Stein, the Director of the Institute of European Studies and holder of the c

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Paulo, S. "The South African Companies Act of 2008 (SACA2008), and the Sarbanes‐Oxley Act of 2002." International Journal of Law and Management 53, no. 5 (2011): 340–54. http://dx.doi.org/10.1108/17542431111166331.

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Oliveira, Edson Marques. "RESPONSABILIDADE SOCIAL EMPRESARIAL, EMPREENDEDORISMO SOCIAL E ECONOMIA SOLIDÁRIA: similitudes, ambivalências e possíveis conexões." Revista Observatório 5, no. 5 (2019): 697–750. http://dx.doi.org/10.20873/uft.2447-4266.2019v5n5p697.

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A crise mundial deflagrada em 2008, pela especulação financeira, serviu para acentuou nos países ricos o que os países pobres já vêm enfrentando a muitas décadas, recessão, inflação, desemprego, desigualdade, exclusão social, violência, entre outras mazelas sociais. E no epicentro das grandes demandas surgem alternativas de enfrentamento, sejam oriundas dos governos, das organizações empresariais ou da sociedade civil organizada, a essa tríade tem se denominado de primeiro setor (governo) segundo setor (empresas privadas) e terceiro setor (sociedade civil). Vive-se sem dúvida num momento hibri

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Nwafor, Anthony O. "The goal(s) of corporate rescue in company law: A comparative analysis." Corporate Board role duties and composition 13, no. 2 (2017): 20–31. http://dx.doi.org/10.22495/cbv13i2art2.

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The concept of corporate rescue lays emphasis on corporate sustainability than liquidation. This trend in corporate legislation which featured in the United Kingdom Insolvency Act of 1986, Australian Corporations Act 2001, Indian Sick Industrial Companies (Special Provisions) Act of 1985 (as replaced by Companies Act, 2013 and supplanted by the Insolvency and Bankruptcy Code, 2016) has been adopted in the South African Companies Act of 2008. The goal(s) of corporate rescue in some of these jurisdictions are not clearly defined. The paper examines, through a comparative analysis, the relevant s

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Lu, Ziyi, Indroneil Ganguly, and Ivan Eastin. "Changes in Chinese wood-based exports to the U.S.: Post Lacey Act amendment." Forestry Chronicle 90, no. 05 (2014): 660–65. http://dx.doi.org/10.5558/tfc2014-131.

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The recent adoption of timber legality legislation in the U.S. (the Lacey Act 2008 amendment) requiring timber imports be sourced from legally harvested wood could have profound impacts on China's re-exports of manufactured wood products to the U.S. This study examines empirically how Chinese wood manufacturers’ sales to the U.S. have changed in response to the Lacey Act. A sample of 225 Chinese wood manufacturers was drawn from two trade shows in Shanghai, China in 2013. The results reveal that Chinese companies’ awareness of the Lacey Act has played an important role in their decision to exp

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Venugopalan, T. "Corporate Governance and Agency Problems During Pre-And Post-Indian Companies Act 2013 Regimes." Archives of Business Research 9, no. 4 (2021): 180–97. http://dx.doi.org/10.14738/abr.94.10042.

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This research paper makes a comparative analysis of the effectiveness of governance mechanisms in mitigating the agency problems in the Indian corporate sector during the pre and post-Indian Companies Act 2013 periods, using the panel OLS regression methodology on a sample of 315 companies drawn from the BSE 500 index of the Bombay Stock Exchange (BSE) for 10 years spanning from 2008-2018. Based on the review of literature, this paper has utilized proxy Operating Ratio for measuring the agency cost as the dependent variable. It also has identified ten governance mechanisms as independent varia

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Cassim, Maleka Femida. "The Contours of Profit-Making Activities of Non-Profit Companies: An Analysis of the New South African Companies Act." Journal of African Law 56, no. 2 (2012): 243–67. http://dx.doi.org/10.1017/s0021855312000046.

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AbstractWhile for-profit companies regularly embark on non-profit activities, the converse issue has recently come to attention, namely whether non-profit companies may embark on profit-making activities. This has given rise to a confusing conundrum of practical importance, not only in South Africa but also in other jurisdictions. This article discusses whether non-profit companies, under the South African Companies Act of 2008, may have purely commercial objects. It also addresses the intertwined question of the contours of permissible profit-making activities. Since the non-profit company is

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Mynkin, D. "Big Companies of ASEAN-5 Countries: Competitiveness under Conditions of Crisis." World Economy and International Relations, no. 9 (2011): 61–71. http://dx.doi.org/10.20542/0131-2227-2011-9-61-71.

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The crisis of 2008-2009 hit East Asia to a lesser degree than many developed countries of the West. The purpose of the article is to examine the competitiveness of specific companies from ASEAN-5 in this crisis and to assess the situation during this period and during the Asian crisis.

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Kusumawardani, Saskia, Sinta Dewi Rosadi, and Elisatris Gultom. "GOOD CORPORATE GOVERNANCE PRINCIPLES ON INTERNET INTERMEDIARY COMPANIES IN PROTECTING THE PRIVACY OF PERSONAL DATA IN INDONESIA." Yustisia Jurnal Hukum 9, no. 1 (2020): 65. http://dx.doi.org/10.20961/yustisia.v9i1.39683.

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<em>The implementation of good corporate governance (GCG) is the main foundation of companies that needs to run their business activities for a long period. Along with the development of technology and information, the implementation of GCG is increasingly needed for internet intermediary platform providers in carrying out their business activities. The implementation of GCG principles can also reduce the risk of failure in protecting privacy of personal data on the platform. The related principles are transparency, accountability, and responsibility principle by taking into account a nu

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Benjamin, Lisa. "The Responsibilities of Carbon Major Companies: Are They (and Is the Law) Doing Enough?" Transnational Environmental Law 5, no. 2 (2016): 353–78. http://dx.doi.org/10.1017/s2047102516000194.

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AbstractTransnational carbon major companies are responsible for over 30% of global industrial greenhouse gas emissions and exert tremendous influence over future global climate trajectories. Yet, they are not governed through top-down, stringent emissions limits, but are instead regulated largely by disclosure-only domestic requirements and market-based or voluntary corporate social responsibility mechanisms. Through an examination of the requirements of domestic laws such as the United Kingdom (UK) Climate Change Act 2008 and the UK Energy Act 2013, as well as the environmental and sustainab

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Maryati, Ulfi, Armel Yentifa, and Wiwik Andriani. "Implementasi Akuntansi Berbasis Akrual Pada Pemerintah Daerah (Studi Pada Pemerintah Kota Semarang dan Pemerintah Kota Bandar Lampung)." Akuntansi dan Manajemen 10, no. 2 (2015): 1–10. http://dx.doi.org/10.30630/jam.v10i2.100.

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The aim of this research is to evaluate implementation of Accrual based accounting of local government in Kota Semarang and Kota Bandar Lampung. The research finds that Government Act (PP) No. 71 Year 2010 as amendment of Section 36 ayat (1) Regulation No 17-2003 and Pasal 70 section (2) Regulation No.1-2004 has instructed government to apply Accrual accounting by the year 2008. However, the regulation for implementing this Accrual based accounting has just established since 2010 in PP 71-2010. The establishment of this governmental act, all governments both local and central, must apply Accru

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Gorlach, Igor, and Genevieve Pham-Kanter. "Brightening Up: The Effect of the Physician Payment Sunshine Act on Existing Regulation of Pharmaceutical Marketing." Journal of Law, Medicine & Ethics 41, no. 1 (2013): 315–22. http://dx.doi.org/10.1111/jlme.12022.

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In 2008 pharmaceutical companies spent over $12 billion on product promotion and detailing aimed at U.S. health care practitioners. Drug and device manufacturers rely on a workforce of detailers and physician speakers to reach health care practitioners and nudge their prescribing habits. To prevent undue influence and protect the public fisc, a number of states began regulating these marketing practices, requiring companies to disclose all gifts to practitioners, prohibiting the commercialized sale of prescription data, and prohibiting certain gifts altogether. The 2010 enactment of the Physic

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