Notification in terms of section 122 of the companies act, no 71 of 2008, as amended the act shareholders are referred to recent media statements in relation to the disposal by the south african government of its. The service shall adopt and promulgate rules and regulations necessary to carry out sections 721901 to 721904. Relief from oppressive or prejudicial conduct or from abuse of separate juristic personality of company 1 a shareholder or a director of a company may apply to a court for relief if. Evraz highveld steel and vanadium limited incorporated in. Companies amendment act 3 of 2011 act to provide for the incorporation, registration, organisation and management of companies, the capitalisation of profit companies, and the registration of offices of. The new companies act introduced fundamental changes to south african company law. Companies act 71 of 2008 english text signed by the president assented to. Corporate and commercial alert cliffe dekker hofmeyr inc.
Accounting records, financial statements, financial reporting. The act relating to insurance contracts the insurance. Par value shares old act allowed par value and no par value share new act precludes creation of new authorised par value share existing par value shares remain may issue unissued par value shares from authorised capital as at 1 may 2011 if at least one such share issued new company cannot create or issue. Companies act no 71 of 2008 by ira epstein fluxmans inc. The new act and regulations became effective on 1 may. Woolworths holdings limited notice in terms of section. Other companies will only be audited if it is in the public interest, taking into account the economic or.
Relief under section 163 of the companies act 71 of 2008 unscrambling the omelette omar v inhouse venue technical management pty ltd journal. Companies act 71 of 2008 final linkedin slideshare. This information should be considered in conjunction with the act itself. Acts online provides legislation, including amendments and regulations, in an intuitive, online format. For guidance, the developers looked to south african company law for the 21st century. Companies act 2008 notes on the guide to companies act no 71 of 2008 2 1. Guide to companies act no 71 of 2008 pdf documents. Henochsberg on the companies act 71 of 2008 request pdf. On 1 may 2011, the companies act 71 of 2008 came into effect, replacing the companies act 1973 and amending the close corporations act of 1984. Amendment act or the regulations where applicable, otherwise any reference to a section in general means that it is in reference to the companies act, 2008, or the act. Woolworths holdings limited notice in terms of section 455 of the companies act no. Relief under section 163 of the companies act 71 of 2008.
Guide to companies act directorno 71 of 2008s guide 20. Original section 721902, reissue revised statutes of 15 nebraska, is repealed. This guide includes information on matters that are practical and relevant to saica members and other individuals in business who engage with company law. April 3, 2008 iv a loan that provides in writing that the loan proceeds shall be disbursed to or for the benefit of the borrower in. The guide has been compiled based on our understanding and interpretation of the provisions contained in the companies act no. Amendment of the companies act regulation, 2011 20 august 20companies act no 71 of 2008 maatskappywet no 71 van 2008 companies amendment act, no 3 of 2011 companies regulations, 2011 pages 1 107 companies regulations, 2011 pages 108 212 companies regulations, 2011 pages 2 320. Section 44 of the companies act 71 of 2008 governs the instances when a company may provide financial assistance for the purchase of the companys securities. The saica guide to the companies act 71 of 2008 has been released. The name of the act was changed by the act of 27 june 2008 no. Transcript prepared by the clerk of the legislature. Promote the development of the south african economy by. The board of directors signed and filed a resolution placing the company into business rescue on april 2015, which resolution was confirmed by the companies and intellectual property commission cipc. Amendment of the companies act regulation, 2011 560kb pdf 20 august 20. Both the companies act 61 of 1973 hereinafter the companies act 1973 and the companies act 71 of 2008 hereinafter the companies act 2008 provide for the financial standards.
Incorporation of private limited liability companies ii. S u m m a r y company law companies act 71 of 2008 applicants not contend with respondents conduct relating to black economic empowerment bee issue applicants contending that conduct of respondents or related persons has had a result that is oppressive or unfairly prejudicial to. Amendment of the companies act regulation, 2011 102kb pdf 5 february 2014. With acts you are guaranteed the latest and most up to date resource for your legislative needs. Companies act no 71 of 2008 western cape government. We are the leading resource for freely available legislation in south africa and are used daily by thousands of professionals and industry leaders. The simplicity and flexibility reflected in the act will contribute significantly to promote efficiency and transparency. Amendment of the companies act regulation, 2011 5 february 2014. Promote compliance with the bill of rights as provided for in the constitution in the application of company law. Section 824 of the 2008 act now allows the registration of deregistered company or close corporation to be.
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