Tag Archivesnew companies act

Are foreign companies required to register as external companies?

Which foreign companies should register as external companies? What are the requirements of registration and what are the ramifications if the company fails to register? In terms of the Companies Act of 2008 (the “Act”), a foreign company is distinguished from an external company by the nature of its registration requirements. A foreign company is […]

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The future of shareholders agreements under the new Companies Act

Under the previous Companies Act of 1973, shareholders agreements (and share sale agreements) played a very important role and proved to be a powerful business tool in negotiations between shareholders and with investors. They were also vital for the general growth and management of a company. In many instances, these agreements determined important issues such […]

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The new Companies Act is now operative

After much anticipation, the 1 May 2011 saw the Companies Act 71 of 2008 come into operation. Interestingly enough, it has enjoyed less attention than it’s cousin the Consumer Protection Act, which became operational on 1 April 2011. The new modus operandi of a company has to comply with the Companies Act 71/2008, the Companies […]

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The new Companies Act – transitional provisions

In order to facilitate effective transition from the old to the new Companies Act (Act 71 of 2008), in respect of pre-existing companies, the following provisions have inter alia been put into place by the legislator: existing companies will continue to exist as if they were incorporated under the new Act, existing companies will retain […]

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New Companies Act – Business Rescue

As with the merger procedure, introduced by the (new) Companies Act 71 of 2008, business rescue is also a new concept to existing South African company law. In the next of a series of articles to be published in the De Rebus magazine regarding the new Companies Act, Katz briefly discusses the process and procedure […]

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