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Recognition of Customary Marriages Amendment Bill: Matrimonial property regimes applicable to customary, polygynous marriages
19 August 2019 Trusts & Estates

Recognition of Customary Marriages Amendment Bill: Matrimonial property regimes applicable to customary, polygynous marriages

On 24 July 2019, Cabinet approved submission of the Draft Recognition of Customary Marriages Amendment Bill of 2019 (Draft Bill) to Parliament. The Draft Bill seeks to amend certain provisions of the Recognition of Customary Marriages Act, No 120 of 1998 (Act), particularly with regard to the matrimonial property regimes applicable to polygynous, customary marriages.

Fora(ging) for tax relief – a judgment about reviewing a SARS assessment or decision
16 August 2019 Tax & Exchange Control

Fora(ging) for tax relief – a judgment about reviewing a SARS assessment or decision

In terms of South African tax law, where a taxpayer wishes to object or appeal against an assessment issued by or decision made by the South African Revenue Service (SARS), it must do so in the manner prescribed in the Tax Administration Act, No 28 of 2011 (TAA). Where a dispute is not resolved pursuant to an objection lodged by a taxpayer, the taxpayer can appeal the decision to the Tax Court.

Warrantors beware: An independent contractor can be your “agent”
14 August 2019 Corporate & Commercial

Warrantors beware: An independent contractor can be your “agent”

When negotiating commercial agreements (such as sales and leases), parties typically spend a lot of time on the warranties. A warranty is a contractual term by which a party to a contract assumes absolute liability for the accuracy and proper performance thereof, to the extent that he cannot rely on impossibility of performance or absence of knowledge of fault to escape liability (but this may of course be modified by the wording of the warranty in question). Sometimes one finds a qualification/limitation to a party’s liability under a warranty to the effect that a party shall not be liable for damages other than those occasioned by the party’s “employees, servants or agents” (Agent Qualification).

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Will the South African High Court’s injunction stop the liquidation proceedings of Konkola Copper Mines PLC in Zambia?
26 July 2019 Dispute Resolution

Will the South African High Court’s injunction stop the liquidation proceedings of Konkola Copper Mines PLC in Zambia?

Vedanta Resources Holding PLC successfully obtained an injunction order on 23 July 2019 from the South African High Court against ZCCM Investment Holdings PLC, ordering ZCCM to cease from taking any further steps in the winding-up proceedings of Konkola Copper Mines Plc in Zambia, pending the final determination of an arbitration under the terms of a shareholders’ agreement between the parties.

Prices advertised or quoted must include VAT
25 July 2019 Tax & Exchange Control

Prices advertised or quoted must include VAT

Have you ever shopped around and then made a decision to purchase something or utilise the services of a service provider because, as the saying goes “the price is right”, only to find that somewhere in all the marketing blurb and enticing imagery, that you missed the fine print stating that the price does not include VAT? Just like that, there’s an extra 15% payable that you did not budget for.

Published! The 2019 Draft TLAB, Draft TALAB and the comparable tax exemption for CFCs
25 July 2019 Tax & Exchange Control

Published! The 2019 Draft TLAB, Draft TALAB and the comparable tax exemption for CFCs

On 21 July 2019, National Treasury (NT) and the South African Revenue Service (SARS) published the 2019 Draft Taxation Laws Amendment Bill (Draft TLAB) and the 2019 Draft Tax Administration Laws Amendment Bill (Draft TALAB), for public comment. According to the media statement accompanying the publication of the bills (Media Statement), the Draft TLAB and the Draft TALAB provide the necessary legislative amendments required to implement more complex tax announcements made in Chapter 4 and Annexure C of the 2019 Budget Review. We discussed these announcements in the 2019 Budget Review in our Special Edition Budget Speech Alert 2019.

When does a dispute fall within an arbitration agreement?
24 July 2019 Dispute Resolution

When does a dispute fall within an arbitration agreement?

The approach adopted by our courts in deciding whether a dispute comes within the provision(s) of a domestic arbitration clause, was settled by the Supreme Court of Appeal, in North East Finance (Pty) Ltd v Standard Bank of South Africa Ltd 2013 (5) SA 1 (SCA). The case dealt with the effect fraud has on a domestic arbitration clause in general and can now be considered as trite law, even though its application in any particular instance has proven to be tricky over the years.

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Cross-border mergers and acquisitions – Charting the regulatory landscape
14 July 2017 Corporate & Commercial

Cross-border mergers and acquisitions – Charting the regulatory landscape

In the latest issue of Into Africa, Corporate & Commercial Director and Head of CDH's Africa practice, Deepa Vallabh, and Corporate & Commercial Associate Motheo Mfikoe point out that the growth of African markets in the recent years has occurred through cross-border M&A activity, and has become an important source of FDI.

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Gender Parity in Private Equity
30 May 2018 Private Equity

Gender Parity in Private Equity

Directors in our Corporate and Commercial Practice, Nonhla Mchunu and Tessa Brewis, joined Cape Talk's Early Breakfast with Abongile Nzelenzele to discuss was "Gender Parity in Private Equity"