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Update: No more silent big short positions
22 January 2019 Finance & Banking

Update: No more silent big short positions

South Africa has, and continues to trail other countries in its regulation of short sales. However, late last year, the Financial Sector Conduct Authority (FSCA) published its discussion paper on the implementation of a short sale reporting and disclosure framework, in order to remedy this regulation shortfall. Market participants have until 15 February 2019 to respond to the discussion paper with their comments. The question that remains is whether this proposed reporting mechanism is adequate and suitable for the South African market.

A special dispensation: SARS ruling about special trusts
18 January 2019 Tax & Exchange Control

A special dispensation: SARS ruling about special trusts

In recent times, the issue of mental health and the importance of caring for vulnerable persons with mental illnesses has become more prominent. Of course, the effect of mental illness on persons may differ depending on the nature of the illness. In the case of very serious forms of mental illness, a person may not be able to look after their own affairs any longer. From a tax perspective, the Income Tax Act, No 58 of 1962 (Act), makes provision for the creation of so-called special trusts, where the trust is created for the benefit of a person who cannot take care of his own affairs due to a disability (Beneficiary), including as a result of a serious mental illness.

City of Johannesburg Land Use Scheme, 2018: New requirements for land use and development
17 January 2019 Real Estate

City of Johannesburg Land Use Scheme, 2018: New requirements for land use and development

The new City of Johannesburg Land Use Scheme, 2018 was published by The City of Johannesburg Metropolitan Municipality (Council) on 2 January 2019 and comes into operation on 1 February 2019. This Land Use Scheme is published in terms of the Spatial Planning and Land Use Management Act, 2013 (SPLUMA) and the City of Johannesburg Municipal Planning By-law, 2016 (Council By-laws) which provide that the Council must adopt and approve a single land use scheme for its entire area that will determine the rules and processes regulating the use and the extent of the development of land therein.

Sellers and buyers beware: Draft regulations on buyer power and price discrimination out for comment
9 January 2019 Competition

Sellers and buyers beware: Draft regulations on buyer power and price discrimination out for comment

As most will be aware, the 2018 Competition Amendment Bill (Bill) is set to impact dominant firms’ interactions with customers and suppliers that are small and medium businesses, or which are owned by historically disadvantaged persons. In line with the South African and global Zeitgeist, this manifests a continued shift towards driving the public interest objectives of competition legislation.

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Update: No more silent big short positions
22 January 2019 Finance & Banking

Update: No more silent big short positions

South Africa has, and continues to trail other countries in its regulation of short sales. However, late last year, the Financial Sector Conduct Authority (FSCA) published its discussion paper on the implementation of a short sale reporting and disclosure framework, in order to remedy this regulation shortfall. Market participants have until 15 February 2019 to respond to the discussion paper with their comments. The question that remains is whether this proposed reporting mechanism is adequate and suitable for the South African market.

A special dispensation: SARS ruling about special trusts
18 January 2019 Tax & Exchange Control

A special dispensation: SARS ruling about special trusts

In recent times, the issue of mental health and the importance of caring for vulnerable persons with mental illnesses has become more prominent. Of course, the effect of mental illness on persons may differ depending on the nature of the illness. In the case of very serious forms of mental illness, a person may not be able to look after their own affairs any longer. From a tax perspective, the Income Tax Act, No 58 of 1962 (Act), makes provision for the creation of so-called special trusts, where the trust is created for the benefit of a person who cannot take care of his own affairs due to a disability (Beneficiary), including as a result of a serious mental illness.

City of Johannesburg Land Use Scheme, 2018: New requirements for land use and development
17 January 2019 Real Estate

City of Johannesburg Land Use Scheme, 2018: New requirements for land use and development

The new City of Johannesburg Land Use Scheme, 2018 was published by The City of Johannesburg Metropolitan Municipality (Council) on 2 January 2019 and comes into operation on 1 February 2019. This Land Use Scheme is published in terms of the Spatial Planning and Land Use Management Act, 2013 (SPLUMA) and the City of Johannesburg Municipal Planning By-law, 2016 (Council By-laws) which provide that the Council must adopt and approve a single land use scheme for its entire area that will determine the rules and processes regulating the use and the extent of the development of land therein.

Sellers and buyers beware: Draft regulations on buyer power and price discrimination out for comment
9 January 2019 Competition

Sellers and buyers beware: Draft regulations on buyer power and price discrimination out for comment

As most will be aware, the 2018 Competition Amendment Bill (Bill) is set to impact dominant firms’ interactions with customers and suppliers that are small and medium businesses, or which are owned by historically disadvantaged persons. In line with the South African and global Zeitgeist, this manifests a continued shift towards driving the public interest objectives of competition legislation.

Code of Good Practice for the Handling of S*xual Harassment Cases
7 January 2019 Employment

Code of Good Practice for the Handling of S*xual Harassment Cases

Until 19 December 2018, employers had to apply two Code of Good Practice for the Handling of S*xual Harassment Cases in the workplace. The first code was issued in 1998 (Government Notice R1367 of 17 July 1998). This code was amended on 4 August 2005, by the Amendments to the Code of Good Practice on the Handling of S*xual Harassment Cases in the Workplace (General Notice 1357).

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5 legal tips for start-ups
25 October 2018 Corporate & Commercial

5 legal tips for start-ups

Many highly successful start-ups are bedevilled by legal disputes, often between founders or funders, which could have been easily avoided. The story of McDonalds is one example. It was founded by brothers, Richard and Maurice McDonald, who were ultimately allegedly short-changed by Raymond Albert "Ray" Kroc, who joined the business after its establishment but took all the glory (and the money). How? Because they did not put legal agreements in place to regulate their partnership.

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eDiscovery – are you seeing the whole picture
7 December 2018 Dispute Resolution

eDiscovery – are you seeing the whole picture

Zaakir Mohamed, Director in the Corporate Investigations Sector of our Dispute Resolution practice, participated in an expert panel discussion titled "eDiscovery – are you seeing the whole picture"

Shane Johnson appeared on SABC News
13 November 2018 Employment

Shane Johnson appeared on SABC News

Professional Support Lawyer for the Employment practice, Shane Johnson, joined SABC News to elaborate on reports that economic factors like recession make South African businesses further disposed to widespread retrenchments.

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