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In the South African Competition Law landscape, merger notification to the Competition Commission (“Commission”) in relation to an internal restructuring is generally overlooked, due to the ultimate control not being altered.

In today’s fast-paced and competitive business landscape, companies are built on the dedication, vision, and passion of its founders. However, ensuring that businesses remain sustainable and successful after their founders step down, poses a significant challenge. This is especially true in professional sectors including law, engineering, and auditing, where attracting and retaining top talent, as well as motivating younger professionals, is crucial for growth.

In this latest article uncovering the amendments to the First and Second Companies Amendment Acts of 2024, the amendment to the definition of “Employee Share Scheme” in terms of Section 95 of the of the Companies Act, Act 71 of 2008 (the “Act”), is exclusively dealt with.

It is common practice in the South African commercial sphere for a family trust to govern and head the intricate workings of family businesses due to the advantages and protection that is offered by a trust. The structure, however, is not without its compliance and administration drawbacks. This article deals with the latest caselaw affecting specifically the instances where a trustee resigns from his / her position and when such resignation is deemed to be effective.

Section 24J, read with Section 11(x), of the Income Tax Act No 58 of 1962 (“ITA”) permits a deduction against a taxpayer’s income of any ...

Family-owned businesses play a significant role in South Africa’s economy. Alarmingly, surveys indicate that only about 30% (thirty percent) of family-owned businesses survive into the second generation, and 10% (ten percent) in respect of the third generation. These numbers reflect the failure of the seamless transfer of control and ownership to the following generation in the absence of a family constitution and succession structures.

In this fifth article unpacking the amendments relating to the first and Second Companies Amendments Acts of 2024; we deal exclusively with the amended provisions of Section 16 of the Companies Act, Act 71 of 2008 (the “Act”) and the effect it will have on companies, going forward.

The Johannesburg High Court’s recent judgment involving former Dimension Data executives, reinforces the importance of directors fulfilling their fiduciary duties with transparency and integrity.

Taxpayers often engage in financial arrangements when obtaining or granting loan or debt funding. Under these arrangements, the lender normally advances an amount to the borrower who is obliged to repay the amount advanced together with interest thereon.

This third article in the series uncovering the amendments relating to the First and Second Companies Amendment Acts, we wish to draw attention to private companies with multiple shareholders.

As mentioned in our July 2024 article, the First and Second Companies Amendment Bills were signed into law on 26 July 2024, marking a significant shift in regulatory requirements, though they are not yet in effect. As these changes take effect, we will continue to provide insights into the amendments to the Companies Act 71 of 2008 (the “Act”).

On 26 July 2024, the First and Second Companies Amendment Bills were signed into law, however, is not in effect at this stage. The long awaited Amendment Bills brought significant shift in regulatory requirements. As these changes take effect, we’ll be publishing a series of articles dissecting the amendments to the Companies Act 71 of 2008 (the “Act”).