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Journal articles on the topic 'South Africa. Companies Act 71 of 2008'

Author: Grafiati

Published: 4 June 2021

Last updated: 12 February 2022

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1

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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2

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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3

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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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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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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6

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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7

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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8

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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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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10

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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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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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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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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15

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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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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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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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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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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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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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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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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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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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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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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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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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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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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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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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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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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Langa, P., E. I. Edoun, and V. Naidoo. "Success Factors for Creating Spin-Out Companies by South African Publicly Financed Research and Development Institutions: A Resource-Based View Perspective." Journal of Economics and Behavioral Studies 10, no. 6(J) (2018): 113–28. http://dx.doi.org/10.22610/jebs.v10i6(j).2603.

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Technology commercialisation using spin-out companies has shown to be a viable option by publicly financed research and development (R&D) institutions internationally. In South Africa (SA) this trend of spin-out company creation for technology commercialisation is anticipated to be on the rise since the inception of the Intellectual Property Rights from Publicly Financed Research and Development Act number 51 of 2008 (IPR-PFRD Act). This study aimed at trying to understand the factors that influence the successful creation of spin-out companies by SA publicly financed R&D institutions,

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Langa, P., E. I. Edoun, and V. Naidoo. "Success Factors for Creating Spin-Out Companies by South African Publicly Financed Research and Development Institutions: A Resource-Based View Perspective." Journal of Economics and Behavioral Studies 10, no. 6 (2018): 113. http://dx.doi.org/10.22610/jebs.v10i6.2603.

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Technology commercialisation using spin-out companies has shown to be a viable option by publicly financed research and development (R&D) institutions internationally. In South Africa (SA) this trend of spin-out company creation for technology commercialisation is anticipated to be on the rise since the inception of the Intellectual Property Rights from Publicly Financed Research and Development Act number 51 of 2008 (IPR-PFRD Act). This study aimed at trying to understand the factors that influence the successful creation of spin-out companies by SA publicly financed R&D institutions,

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Motlatla, Mokete, and Thelmah Xavela Maluleke. "Assessment of Knowledge about Healthcare Risk Waste Management at a Tertiary Hospital in the Northern Cape Province, South Africa." International Journal of Environmental Research and Public Health 18, no. 2 (2021): 449. http://dx.doi.org/10.3390/ijerph18020449.

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This study aimed at assessing the knowledge about healthcare risk waste (HCRW) management among doctors, professional nurses, pharmacists and laboratory technicians, in accordance with National Environmental Management, Waste Act 59 of 2008, Constitution of South Africa and sustainable development goals (SDG). The quantitative cross-sectional study was conducted, using self-administered questionnaires and stratified random sampling was used. Data was analyzed using the descriptive and inferential statistics. One hundred and forty-four participants were included in the study. The majority 90.28

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Motlatla, Mokete, and Thelmah Xavela Maluleke. "Assessment of Knowledge about Healthcare Risk Waste Management at a Tertiary Hospital in the Northern Cape Province, South Africa." International Journal of Environmental Research and Public Health 18, no. 2 (2021): 449. http://dx.doi.org/10.3390/ijerph18020449.

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This study aimed at assessing the knowledge about healthcare risk waste (HCRW) management among doctors, professional nurses, pharmacists and laboratory technicians, in accordance with National Environmental Management, Waste Act 59 of 2008, Constitution of South Africa and sustainable development goals (SDG). The quantitative cross-sectional study was conducted, using self-administered questionnaires and stratified random sampling was used. Data was analyzed using the descriptive and inferential statistics. One hundred and forty-four participants were included in the study. The majority 90.28

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Stoop, Helena, and Andrew Hutchison. "Post-Commencement Finance - Domiciled Resident or Uneasy Foreign Transplant?" Potchefstroom Electronic Law Journal/Potchefstroomse Elektroniese Regsblad 20 (May 4, 2017): 1. http://dx.doi.org/10.17159/1727-3781/2017/v20i0a1370.

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The 2008 Companies Act introduced a new business rescue regime into South African Company law, bringing it into line with trends in developed countries, particularly the United States. Indeed, it appears that the United States Chapter 11 model was followed in this process, introducing the business rescue concept as a legal transplant. Corporate law is well suited to legislative borrowing, but there are important caveats to bear in mind when doing so. In particular: the context and legal culture of the origin country may differ from those of the destination country. South Africa’s commercial en

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Rautenbach, Christa. "Editorial." Potchefstroom Electronic Law Journal/Potchefstroomse Elektroniese Regsblad 17, no. 6 (2014): 0. http://dx.doi.org/10.17159/1727-3781/2014/v17i6a618.

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EditorialThis voluminous issue consists of 13 articles and 8 notes dealing with various legal topics in South Africa and abroad. The articles commences with Ig Rautenbach’s discussion of the ever-elusive concept of proportionality in the light of the text of the South African Constitution. Mmaphuti Tuba analyses the different approaches adopted for the regulation of payment systems in a variety of legislative instruments by the European Union. Phoebe Boltondeals with the thorny issue of public tenders and the extent to which bidders must comply with tender specifications and conditions. Leentj

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Vela Madlela. "LEGISLATIVE CONTROLS ON DIRECTOR AND EXECUTIVE TERMINATION PAYMENTS IN THE UK AND AUSTRALIA – LESSONS FOR SOUTH AFRICA." Obiter 37, no. 3 (2016). http://dx.doi.org/10.17159/obiter.v37i3.11524.

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The awarding of termination payments to departing company directors and senior executives has attracted a lot of controversy in many jurisdictions in light of the excessive nature and size of termination packages, as well as the corporate governance flaws in the process by which these payments are determined. Termination payments are frequently perceived to be rewards for failure in view of the large packages that have been paid to company executives on termination of their service contracts, often following poor financial performance and staff retrenchments. This article examines the legislat

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Jan Louis Van Tonder. "A PRIMER ON THE DIRECTORS’ OVERSIGHT FUNCTION AS A STANDARD OF DIRECTORS’ CONDUCT UNDER THE COMPANIES ACT 71 OF 2008." Obiter 39, no. 2 (2018). http://dx.doi.org/10.17159/obiter.v39i2.11351.

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The recent well publicised corporate scandals and widespread allegations of corporate fraud and corruption in both the private and public sector, which occurred seemingly unnoticed and caused public outrage, prompted this article. Although it is clear that directors should not be passive in their monitoring and oversight function and the notion of a passive director must be discouraged, as such, the oversight function has received little or no attention in South Africa, and is, as a result, not well developed in South Africa. The aim of this article is to provide a preliminary analysis of the

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Rehana Cassim. "A Critical Analysis on the Use of the Oppression Remedy by Directors Removed from Office by the Board of Directors under The Companies Act 71 of 2008." Obiter 40, no. 3 (2019). http://dx.doi.org/10.17159/obiter.v40i3.11196.

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Both sections 71(3) and 163 of the Companies Act 71 of 2008 are innovative in South African company law in that the former section permits the board of directors to remove a fellow director from office, while the latter section extends the oppression remedy to directors. Previously, under the Companies Act 61 of 1973, the power to remove directors from office was confined to shareholders. Moreover, only shareholders could apply for relief from oppressive or prejudicial conduct. Now that section 163 of the Companies Act 71 of 2008 has been extended to directors, this article argues that a direc

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Vela Madlela. "An Analysis of Mandatory Auditor Rotation Requirements in South Africa in light of International Legislative Trends." Obiter 40, no. 2 (2019). http://dx.doi.org/10.17159/obiter.v40i2.11229.

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An independent and objective external audit of companies is an integral element of sound corporate governance and of functional financial markets. The issues relating to auditor independence and objectivity have attracted considerable regulatory and public scrutiny in many leading jurisdictions. This is partly due to a general decrease in audit quality over the years as evidenced by high-profile accounting scandals and audit failures, both locally and internationally, as well as the vital role that an external audit is expected to play in ensuring transparency, accuracy and efficiency in the f

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Howard Chitimira. "SOME THOUGHTS ON THE MEANING AND APPLICATION OF COMMERCIAL INSOLVENCY IN WINDING-UP PROCEEDINGS INVOLVING CONTINGENT CREDITORS Absa Bank v Hammerle Group 2015 (5) SA 215 (SCA)." Obiter 38, no. 2 (2017). http://dx.doi.org/10.17159/obiter.v38i2.11449.

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The winding up of companies is dually governed by the Companies Act (71 of 2008, hereinafter “the Companies Act 2008”) and the relevant provisions of the repealed Companies Act (61 of 1973, hereinafter “the Companies Act 1973”). Thus, the winding up of solvent companies is dealt with under the Companies Act 2008 while insolvent companies are still wound up under the Companies Act 1973. Accordingly, the Companies Act 2008 does not have specific provisions that deal with the winding up of insolvent companies. Nonetheless, the Companies Act 2008 has made transitional measures that enable chapter

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Cassim, Rehana. "A Comparative Discussion of the Judicial Disqualification of Directors under the South African Companies Act." Journal of African Law, November 9, 2020, 1–24. http://dx.doi.org/10.1017/s0021855320000248.

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Abstract Section 162 of the South African Companies Act 71 of 2008 empowers courts to declare directors delinquent and hence to disqualify them from office. This article compares the judicial disqualification of directors under this section with the equivalent provisions in the United Kingdom, Australia and the United States of America, which have all influenced the South African act. The article compares the classes of persons who have locus standi to apply to court to disqualify a director from holding office, as well as the grounds for the judicial disqualification of a director, the durati

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Vela Madlela. "THE UNQUALIFIED RIGHT OF ACCESS TO COMPANY RECORDS BY NON-HOLDERS OF THE COMPANY’S SECURITIES UNDER SOUTH AFRICAN COMPANY LAW Nova Property Group Holdings Ltd v Cobbett (MandG Centre for Investigative Journalism NPC as amicus curiae) 2016 (4) SA 317 (SCA)." Obiter 40, no. 1 (2019). http://dx.doi.org/10.17159/obiter.v40i1.11315.

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This note, therefore, discusses the Nova case with a focus on the approach of the court regarding the proper interpretation and the ambit of the right of access to a company’s records by any person as conferred by section 26(2) of the Companies Act 71 of 2008. It provides some critical comments on the main issues that this judgment raises, including the impact of the Constitution in this area of South African company law, the interpretation of section 26(2) in light of the role and impact of companies in society, the interpretation of section 26(2) in light of the purposes of the Companies Act

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Coetzee, L., and JL van Tonder. "Advantages and disadvantages of partial codification of directors’ duties in the South African Companies Act 71 of 2008." Journal for Juridical Science 41, no. 2 (2016). http://dx.doi.org/10.18820/24150517/jjs41.v2.1.

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Rajaram, Rajendra, and Anesh M. Singh. "Competencies for the effective management of legislated business rehabilitations." South African Journal of Economic and Management Sciences 21, no. 1 (2018). http://dx.doi.org/10.4102/sajems.v21i1.1978.

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Background: In 2011 a new Companies Act (No. 71 of 2008) was implemented in South Africa. A feature of this Act was the introduction of business rescue legislation. Although this legislation was implemented in May 2011, statistics indicate that the success rate for business rescues is approximately only 12%. This low success rate prompted debate relating to the effectiveness, and continued suitability of a legislated business rescue as a mechanism to rehabilitate financially distressed companies. A feature of the business rescue environment in South Africa is the lack of knowledge, necessitati

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Conradie, Shaneen, and Christiaan Lamprecht. "What are the indicators of a successful business rescue in South Africa? Ask the business rescue practitioners." South African Journal of Economic and Management Sciences 21, no. 1 (2018). http://dx.doi.org/10.4102/sajems.v21i1.1726.

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Background: Business rescue, in terms of Chapter 6 of the Companies Act No 71 of 2008, is still relatively new to the South African business environment. The need for a successful business rescue regime is beyond doubt. However, a consistent manner to measure the success of the regime has not been determined. Previous research into possible indicators of business rescue success was based on a review of international business rescue regimes that share the same underlying philosophy as the South African business rescue regime. Aim and Setting: This study extends previous research efforts by soli

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Dippenaar, Mareli. "A critical analysis of the meaning of the term ‘value’ in Section 30(6)(e) of the Companies Act." South African Journal of Economic and Management Sciences 21, no. 1 (2018). http://dx.doi.org/10.4102/sajems.v21i1.1985.

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Background: Sections 30(4) and 30(5) of the Companies Act 71 of 2008 (the Act) require, inter alia, disclosure of the remuneration received by each director in a company’s annual financial statements. Section 30(6) defines the term ‘remuneration’, which includes, inter alia, in Section 30(6)(e) the ‘value’ of any option or right granted to a director, as contemplated in Section 42, which deals with options for the allotment or subscription of securities or shares of a company. It is uncertain what the intended meaning of the term ‘value’ is in this context and it is interpreted differently by

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