Corporate Law Legal Update RSS

Legal Alert – Companies Act Amendments

The Department of Trade and Industry has published the Companies Amendment Draft Bill, for public comment.

The Bill seeks to amend the Companies Act, 2008, so as to:
▪ change the definition of securities;
▪ clarify when a Notice of Amendment of a Memorandum of ncorporation takes effect;
▪empower a court to validate the irregular creation, allotment or issue of shares;
▪ clarify how shares which are not fully *aid are to be dealt with; to exempt a company from the requirements applicable to financial assistance between a company and its subsidiaries;
▪ amend the instances where approval of shareholders will be required for any share buybacks by the company;
▪ extend the definition of an employee share scheme to include those where there are purchases of shares of a company;
▪ limit the circumstances under which a private company will be a regulates company;
▪ deal with the composition of the social and ethics committee and its functions; and to ensure differentiation of duties between the chairperson of the Tribunal and the executive director thereof.

Comments can be emailed to Mr Desmond Ramabulana at by no later than Friday, 14 December 2018

Sheqafrica is Africa's largest online Magazine for the Risk & Compliance profession. It is co-owned by Net-IX and the Sheqafrica Corporate Services(Pty)Ltd.

Jessica van Zyl

Independent Contributors and Media Partners:
Patrick Deale - Labour Lawyer
Louis Fourie - Environmental Lawyer
Mabila Mathebula
Rudy D. Maritz

Originally founded by Ben Fouche of Real Babe Media, has been serving the SHEQ industry since 2007 and contains over 1600 articles from various experts in the Safety, Health and Environmental Management fields. Today, is proudly co-owned by the Africa Media Group(50%) and focuses on Human Resources Management, Risk & Compliance on the African Continent.
The role of the HR and IR practitioner remains undisputed in the selection and placement of competent staff, while the education and training of people goes a long way in achieving business objective. covers topics on risk & compliance related to basic human rights:
S = Safety in our workplaces and communities
H = Healthcare
E = The Environment we live in
Q = Quality of Life

Leave a Reply

Your email address will not be published. Required fields are marked *

This site uses Akismet to reduce spam. Learn how your comment data is processed.