Can An Offer To Purchase Be Revived?
Maria Luisa Palma Codevilla v Paula Jane Kennedy-Smith NO and Others (494/2023) [2024] ZASCA 136.In the abovementioned case, the Supreme Court of Appeal (hereinafter ‘SCA’) considered whether an addendum to an offer to purchase (‘OTP’), which had previously lapsed, could amount to a revival of that offer to purchase.
Shareholder Protection under the Companies Act 71 of 2008
The Companies Act 71 of 2008 (“the Act”) introduced significant reforms aimed at enhancing shareholder protection in South Africa. These protections are crucial for maintaining investor confidence and fostering a stable economic environment.
Enforcement of company beneficial ownership filings and securities registers by CIPC
The General Laws (Anti-Money Laundering and Combating Terrorism Financing) Amendment Act 22 of 2022 (the “Act”) has made several changes to the beneficial ownership framework of companies and trusts. The intention of these changes is to aid in preventing fraud and corruption in South Africa.
When Does The National Credit Act Apply
WHEN DOES THE NATIONAL CREDIT ACT APPLY? The National Credit Act No. 34 of 2005 (“NCA” or the “Act”) is a piece of legislation that provides for consumer protection. This means that where credit transactions take place between parties, it is important for the credit provider to act in accordance with the NCA to ensure […]
Force Majeure And Its Practical Implications During The Covid-19 Lockdown
What does force majeure mean? The term force majeure refers to an extraordinary event or circumstance beyond the control of the parties in a contract, which renders either one or both parties unable to perform their contractual obligations. When this occurs, the party who is unable to perform its obligation is absolved from liability by […]
The impact of the CPA on Franchise Agreements
With franchises becoming a common phenomenon worldwide and franchisors, traditionally, benefitting from a strong bargaining position when negotiating franchise agreements, regulation of the industry has become inevitable and has South Africa’s legislature initiated this regulation through the Consumer Protection Act No.68 of 2008 (“CPA”), which was signed into law on 24 April 2011. The CPA […]
Are restraint of trade agreements important for business?
A restraint of trade is an agreement between an employer and an employee, or a provision in an employment contract that restricts an employee from being employed by a competitor of the employer, or establishing a business in competition with the employer following termination of employment. TIBMS (Pty) Ltd t/a Halo Underground Lighting Systems […]
Is your business legally compliant?
Compliance refers to a company obeying all of the legal laws and regulations regarding how they manage the business, their staff, and their treatment towards their consumers. The point of compliance is to make sure that corporations act responsibly. Is compliance for every business the same? Certain businesses may be required by law to […]
Is your Business POPI Compliant?
POPI refers to South Africa’s Protection of Personal Information Act which seeks to regulate the Processing of Personal Information. What is Personal Information? Means any information relating to an identifiable, living natural person or juristic person (companies, CC’s etc.) and includes, but is not limited to: Contact details: email, telephone, address etc. Demographic information: […]
