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The Practice Note clarifies how Broad-Based Ownership Schemes (“BBOS”), Employee Share Ownership Programmes (“ESOPs”), Trade Unions, Investment Holding Companies that are BBOS, Not for Profit Companies (“NPCs”) and Trusts, (collectively referred to as “Discretionary Collective Enterprises”) should be interpreted in light of the B-BBEE Codes of Good Practice (“Codes”).

The Department of Trade, Industry and Competition (“DTI”) is in the process of drafting guidelines on employee ownership and other broad-based ownership schemes (“Schemes”), Minister Ebrahim Patel (“Minister”) announced.

When disposing of shares in the share capital of a private company, the Sale of Shares Agreement (the “Agreement”) will often contain commercial warranties provided by the seller to the purchaser. Warranties are contractual statements of fact or promises about the condition of the company, its business and / or shares.

The restrictions which prevented South African corporations or individuals from setting up and investing in offshore entities, which in turn invests back into South Africa, has been significantly relaxed as of 01 January 2021.

A company that requires an injection of capital and wishes to raise the capital quickly, often turns to the public to sell its securities to, to obtain the required capital.

The Protection of Personal Information Act, Act 4 of 2013 (“POPIA”), provides for the protection of Personal Information of a Data Subject which is processed by all natural and juristic Persons.

The Protection of Personal Information Act, Act 4 of 2013 (“POPIA”), provides for the protection of Personal Information of a Data Subject which is processed by all natural and juristic Persons.

The Protection of Personal Information Act, Act 4 of 2013 (“POPIA”), provides for the protection of Personal Information of a Data Subject which is processed by all natural and juristic Persons.

The Electronic Communications and Transactions Act, Act 25 of 2002 (“Act”) provides for the facilitation and regulation of electronic communications and transactions and recognises the validity and enforceability of agreements concluded via data messages.

The President of South Africa has proclaimed 1 July 2020 to be the commencement date of POPIA. The importance of this date is that a 1 (one) year “grace period” commences wherein all businesses, whether public or private, must comply with the conditions for the lawful processing of personal information.

The appraisal right may be described as the right of dissenting shareholders to have their shares bought out by the company in which they hold shares, in cash and at fair value when they do not approve of certain triggering events by the company.

The conduct of insider trading is governed by the common law and the Financial Markets Act, Act 19 of 2012 (the “Act”).