BACKGROUND During the course of the G20 High-Level Principles on Beneficial Ownership Transparency held in 2015, the South African Government made a commitment towards improved beneficial ownership regulation. This was followed up with a further commitment made by the Open Government Partnership during 2016, with both commitments entailing a transparent, central and public beneficial ownership [...]
In terms of Section 66(1) of the Companies Act (2008) (“the Companies Act”), the business and affairs of a company must be managed by or under the direction of its board of directors, which has the authority to exercise all of the powers and perform any of the functions of the company, except to the [...]
In this article we are taking a look at the Sectional Titles Amendment Bill 2020 (“the Bill”) and the proposed changes it will bring. The Bill was introduced by the Minister of Agriculture, Land Reform and Rural Development to the National Assembly on the 2nd of November 2020. The Bill has not yet become law. [...]
ARTICLE 1 IN A SERIES ON POPIA THE IMPORTANCE OF PERSONAL INFORMATION IMPACT ASSESSMENTS The Protection of Personal Information Act (Act No. 4 of 2014) (“POPIA”) commenced on 1 July 2020. All business and legal entities, whether owned by individuals, companies, partners, sole proprietors, close corporations, NGOs/PBOs, associations and business trusts, including dormant entities, are [...]
Alliott Global Alliance announces the expansion of its international alliance of independent accounting and law firms to its 80th country. Alliott Global Alliance (‘AGA’) has reached another milestone in its development by increasing the international coverage it can offer to clients and member firms to 80 countries. This announcement comes on the heels of law [...]
Buying a property is one of the most exciting and stressful undertakings an individual can undertake, especially for a first-time homebuyer. This is even more so due to the uncertain economic times we face in South Africa today. The transfer of property is a long process beset with legalities, and the process can easily become [...]
When purchasing a fixed property in South Africa, either Value-Added Tax (“VAT”) or Transfer Duty will always be payable on the transaction. Both VAT and Transfer Duty are calculated based on the purchase price or value of the property to be sold. A transaction cannot be subject to both VAT and Transfer Duty - it [...]
THE PRESENT LAW The Labour Appeal Court (“LAC”) recently rendered a significant judgment on resignation by an employee as a method to avoid disciplinary measures (disciplinary hearing). The matter of The Standard Bank of South Africa Limited v Nombulelo Cynthia Chiloane (JA85/18) (“Chiloane”) is the case in reference, which was handed down on 10 December [...]
WHAT IS THE AFRICAN CONTINENTAL FREE TRADE AGREEMENT? The African Continental Free Trade Agreement (“the Agreement”) is one of the Flagship Projects of the African Union’s Agenda 2063 (“Agenda 2063”).[1] The Agreement responds to the aspirations of Agenda 2063, which is underpinned by the vision to build an integrated, prosperous, and peaceful African continent in [...]
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