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Share buy-backs and its dividends tax implications

The Companies Act No. 71 of 2008, as amended (“the Act”), provides that a company may acquire its own shares to the extent that it is solvent and liquid, as more fully described in Section 4 of the Act. In essence, a share buy-back is a transaction where a company buys a portion of its […]

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Vicarious liability of employers

It is trite law in South Africa that an employer will be vicariously liable for the negligent act of his or her employee/employees or agent/agents, in the event of the employee/employees or agent/agents acting in a negligent manner during the course of his/her employment. The question that arises from the above is to what extent will […]

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Sale of Property: Compliance Certificates

When immovable property is in the process of being sold, there are certain compliance certificates that are necessary to obtain before the transfer can be registered. Some of these certificates are obligatory in terms of legislation, depending on the particulars of the property and type of transaction. Types of certificates:  Electrical certificate of compliance: Electrical […]

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Notarial Authentication – What you need to know

In short, the authentication by a notary of the signature on a document will be required where the document is signed in one country for use in another, accordingly, by authenticating a document the notary will attest to the authenticity of the signatory who signed the document in his/her presence. The most important factor to […]

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Proxy Representation – The Supreme Court of Appeal’s interpretation of Section 58(1) and 58(3)(C) of the Companies Act, 71 of 2008

As most practitioners are aware, especially those who deal with the drafting of Shareholders Agreements or even Memoranda of Incorporation, we usually insert quite a lengthy clause dealing specifically with proxies, their appointment, their right to vote, etc. I don’t believe many practitioners (be it attorneys, auditors, or advisors) have ever given much thought to […]

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