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Structural and systemic unemployment crises
12 August 2019 Employment

Structural and systemic unemployment crises

Hugo Pienaar, Director in the Employment practice joined the Classic Business Show on Classic FM. He discusses the structural and systemic unemployment crises with reference to various international models. He also states that a social accord is necessary between government, labour and business.

Proposed amendments to the Employment Tax Incentive Act: A win-win for employers and employees
8 August 2019 Tax & Exchange Control

Proposed amendments to the Employment Tax Incentive Act: A win-win for employers and employees

To encourage employment across specific sectors in South Africa, the Employment Tax Incentive Scheme (ETI Programme) was introduced. Since 2014, this ETI Programme was structured in a way which mutually benefits both the employee and the employer. This mutually beneficial relationship was achieved by offering an employer an employees’ tax incentive if the employer employed anyone within the definition of “qualifying employees” in the Employment Tax Incentive Act, No 26 of 2013 (ETI Act).

Flirting before the offer: The intricacies of approaching shareholders
8 August 2019 Corporate & Commercial

Flirting before the offer: The intricacies of approaching shareholders

Do you remember your first school dance? The awkwardness in trying to connect with someone you liked in circumstances where you know what you want but not quite understanding the rules of how to get there. With everyone watching. You can think of an offeror looking to implement an M&A transaction as being in the same situation. The offeror knows what it wants and why it wants to do it, but there is something of the gawky teenager in the way it goes about it, because once you have committed yourself, a rebuff is potentially public and awkward.

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CDH and Ikamva Labantu – a relationship of shared values
24 July 2019 Pro Bono & Human Rights

CDH and Ikamva Labantu – a relationship of shared values

“Overcoming poverty is not a task of charity, it is an act of justice. Like Slavery and Apartheid, poverty is not natural. It is man-made and it can be overcome and eradicated by the actions of human beings. Sometimes it falls on a generation to be great. YOU can be that great generation. Let your greatness blossom.” — Nelson Mandela

Preference share funding: Crossing bright lines
24 July 2019 Corporate & Commercial

Preference share funding: Crossing bright lines

A typical feature of a preference share funding structure is that the company (Issuer) in which the funder (Funder) will subscribe for preference shares is required to be a ring fenced special purpose vehicle (SPV). Funding preference shares typically do not give the Funder voting rights in the Issuer. However, upon the occurrence of an event of default, the Funder becomes entitled to exercise the majority of the voting rights in the Issuer (Enhanced Voting Rights). The critical question then becomes whether the Funder’s entitlement to the Enhanced Voting Rights constitutes a change of control for the purposes of the Competition Act.

A sporting decision: SARS issues ruling regarding a conversion by way of an amalgamation transaction
18 July 2019 Tax & Exchange Control

A sporting decision: SARS issues ruling regarding a conversion by way of an amalgamation transaction

On 6 June 2019, the South African Revenue Service (SARS) published Binding Private Ruling 320 (BPR 320), which deals with the income tax, value-added tax (VAT), transfer duty and securities transfer tax (STT) consequences, where an unincorporated universitas is converted to a newly formed private company. BPR 320 also deals with matters related to the conversion.

The price is right – a confusing end to a costly saga
17 July 2019 Competition

The price is right – a confusing end to a costly saga

The Constitutional Court (ConCourt) has dismissed the Competition Commission’s (Commission) appeal in the long running Media24 case dealing with predatory pricing (Competition Commission of South Africa v Media 24 (Pty) Limited (CCT90/18) [2019] ZACC 26 (3 July 2019).

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Ensure your agents are compliant
31 May 2016 Finance & Banking

Ensure your agents are compliant

While banks doing business across Africa have to be careful with regard to their compliance with SA's Financial Intelligence Centre Act (Fica), they also have to be watchful to ensure that the other banks or agents with whom they engage are also complying with at least the same level of "knowing your customer" (KYC) as FICA requires of South African banks.

Labour Appeal Court finds against Amcu in long-running labour battle, but this is unlikely to be the last word on the matter
5 April 2016 Employment

Labour Appeal Court finds against Amcu in long-running labour battle, but this is unlikely to be the last word on the matter

An important decision by the Labour Appeal Court was made just last week to finally determine the long-running dispute between the Association of Mineworkers and Construction Union (Amcu), the Chamber of Mines and major gold producers. In finding against the appellant Amcu, the court supported the primacy of majority unions who engage in collective bargaining at the workplace.

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Chris Charter comments on the Massmart complaint
26 February 2015 Competition

Chris Charter comments on the Massmart complaint

Massmart has launched a complaint with the Competition Commission targeting Pick n Pay, Spar and Shoprite in a bid to end lease exclusivity clauses. Chris Charter, Head of our Competition practice comments.

Cliffe Dekker Hofmeyr continues to support the Come Together Home
10 October 2014 Pro Bono & Human Rights

Cliffe Dekker Hofmeyr continues to support the Come Together Home

Come Together is a key project in Cliffe Dekker Hofmeyr's Corporate Social Responsibility portfolio. We have seen the Come Together project flourish over the years. We are proud to be part of this worthy initiative, which has and will continue to make a significant difference to the lives of a number of children and adults in the Sebokeng community.

Nicholas Preston comments on Shakes Mashaba and Isegund Gordan having a contract at the same time.
6 August 2014 Employment

Nicholas Preston comments on Shakes Mashaba and Isegund Gordan having a contract at the same time.

Newly appointed Bafana Bafana coach Shakes Mashaba arrives back in South Africa after a tour of Mali as the official coach of the senior national team. Isegund Gordan’s contract with SAFA runs until the end of the month, but a employment lawyer says this is perfectly legal that both men can be contracted for the same position at the same time. Director, Nicholas Preston gives comment.

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Jerome Brink discusses sugar tax
12 March 2018 Tax & Exchange Control

Jerome Brink discusses sugar tax

Senior Associate in Tax & Exchange Control, Jerome Brink, was recently interviewed by Cape Talk's John Maytham. During his interview he discussed sugar tax, which will come into effect on 1 April.