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Ground-breaking draft legislation aligns SA banks with the rest of the G20
11 March 2019 Finance & Banking

Ground-breaking draft legislation aligns SA banks with the rest of the G20

A revised draft of the Financial Matters Amendment Bill (Bill) has been made available by the National Assembly’s Standing Committee on Finance (SCoF). If enacted, the Bill will update the South African Insolvency Act so that it aligns with the new laws that regulate the trading of over-the-counter (OTC) derivatives. This change has been welcomed by banks and financial institutions alike and will go a long way to facilitating the exchange of bilateral initial margin.

Labour Laws in Africa
11 March 2019 Employment

Labour Laws in Africa

While expanding into Africa presents corporates with great opportunities, such strategic moves present challenges too. An often underestimated one: the different and heavily regulated labour law frameworks within the African continent. This guide aims to lessen this burden, unpacking the labour law nuances within 15 key development jurisdictions.

A creature of statute: A decision about the Tax Court’s power to increase understatement penalties
8 March 2019 Tax & Exchange Control

A creature of statute: A decision about the Tax Court’s power to increase understatement penalties

In the recent judgment of Purlish Holdings (Proprietary) Limited v The Commissioner for the South African Revenue Service (76/18) [2019] ZASCA 04, the Supreme Court of Appeal (SCA) had to pronounce on the South African Revenue Service’s (SARS) entitlement to impose understatement penalties on Purlish Holdings (Proprietary) Limited (Taxpayer) and the quantum thereof.

The forth Industrial Revolution
8 March 2019 Employment

The forth Industrial Revolution

Anli Bezuidenhout, Senior Associate in the Employment Law Practice, discusses how employers should start evaluating the impact that the 4th Industrial Revolution will have on their businesses Cape Talk's Early Breakfast show.

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Labour Laws in Africa
11 March 2019 Employment

Labour Laws in Africa

While expanding into Africa presents corporates with great opportunities, such strategic moves present challenges too. An often underestimated one: the different and heavily regulated labour law frameworks within the African continent. This guide aims to lessen this burden, unpacking the labour law nuances within 15 key development jurisdictions.

A creature of statute: A decision about the Tax Court’s power to increase understatement penalties
8 March 2019 Tax & Exchange Control

A creature of statute: A decision about the Tax Court’s power to increase understatement penalties

In the recent judgment of Purlish Holdings (Proprietary) Limited v The Commissioner for the South African Revenue Service (76/18) [2019] ZASCA 04, the Supreme Court of Appeal (SCA) had to pronounce on the South African Revenue Service’s (SARS) entitlement to impose understatement penalties on Purlish Holdings (Proprietary) Limited (Taxpayer) and the quantum thereof.

Private companies and the paradox of the private equity model in South African company law
6 March 2019 Corporate & Commercial

Private companies and the paradox of the private equity model in South African company law

Private companies in South Africa, in terms of s8(2) of the Companies Act, No 71 of 2008 (Companies Act), are (i) prohibited from offering their securities to the public and (ii) required to restrict the transferability of their securities in their memorandum of incorporation (MOI) (although the Companies Act does not prescribe the manner in which this must be done). These two elements distinguish a “private company” from a “public company”.

The duty to disclose material information stands
6 March 2019 Dispute Resolution

The duty to disclose material information stands

The issue of non-disclosure in the insurance industry came under scrutiny in the media at the end of last year, as a result of a major South African insurer repudiating a life insurance policy claim based on non-disclosure.

Is arbitrariness a sufficient ground to establish unfair discrimination in wage differentiation disputes in terms of s6(1) of the EEA?
4 March 2019 Employment

Is arbitrariness a sufficient ground to establish unfair discrimination in wage differentiation disputes in terms of s6(1) of the EEA?

In Naidoo and Others v Parliament of the Republic of South Africa [2018] ZALCCT 38, 69 employees who form part of the Parliamentary Protection Services (PPS) took Parliament to the Labour Court (LC) for allegedly discriminating against them unfairly on an arbitrary ground as contemplated by s6(1) of the Employment Equity Act, No 55 of 1998 as amended (EEA).

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Africa's contrasts - (re)emerging trends of mining in Africa
10 September 2018 Mining & Minerals

Africa's contrasts - (re)emerging trends of mining in Africa

It has been said that "the greater the contrast, the greater the potential. Great energy only comes from a corresponding great tension of opposites" (Carl Jung). While this was not said in connection with Africa, it certainly finds apt application in the African mining industry, given that the majority of African countries' exports and gross domestic product ("GDP") indicators relate to their natural resources; contrasted with various factors that results in untapped potential. In this article we wish to highlight the trends in the mining industry that have been developing throughout Africa and the impact that this can have on M&A deals in this industry.

We mourn the passing of Ma'm Winnie
3 April 2018

We mourn the passing of Ma'm Winnie

As we mourn the loss of another South African heroine, Ma’m Winnie Madikizela-Mandela, we ought to consider what she has meant to all of us South Africans, and how her memory may serve to embolden and enrich the pursuit of a better life for all - fundamentally – the pursuit of social justice, in our country.

Ignorance is not bliss: A recent judgment about understatement penalties and a caution to taxpayers
23 March 2018 Tax & Exchange Control

Ignorance is not bliss: A recent judgment about understatement penalties and a caution to taxpayers

In the recent matter of Mr A & XYZ CC v The Commissioner for the South African Revenue Service (Case Nos IT13725 & VAT1426, IT13727 & VAT1096), which involved four combined cases, the South African Revenue Service (SARS) issued assessments to Mr A and XYZ CC (Taxpayers) relating to income tax for the 2007 to 2012 years of assessment and Value-Added Tax (VAT) for the 2006 to 2013 periods.

Domestic treasury management companies
23 March 2018 Tax & Exchange Control

Domestic treasury management companies

In 2013, the South African government introduced the domestic treasury management company (DTMC) regime to enable South African companies, which are registered with the Financial Surveillance Department (FSD) of the South African Reserve Bank (SARB), to expand into the rest of Africa and abroad. The DTMC regime allows South African companies to establish one subsidiary as a holding company to hold African and offshore operations, without being subject to exchange control restrictions.

Cliffe Dekker Hofmeyr recognised as leading firm for M&A and Corporate Finance deals in 2017
13 March 2018 Mergers & Acquisitions

Cliffe Dekker Hofmeyr recognised as leading firm for M&A and Corporate Finance deals in 2017

Cliffe Dekker Hofmeyr (CDH) has been recognised by DealMakers as the local law firm that has consistently advised on the most number of M&A deals in South Africa. The firm clinched the prestigious M&A Deal Flow award for the ninth consecutive year – with deals totalling R119,576 billion in value – at the annual DealMakers Awards. CDH was awarded second place in the M&A Deal Value category. The firm also achieved notable M&A Deal Flow and Deal Value rankings in the BEE and Africa categories.

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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.

What do we mean by a
31 October 2018 Dispute Resolution

What do we mean by a "qualifying investment" in a host state?

Once a party demonstrates that it is a qualifying investor (as discussed in an earlier instalment), under an investment treaty or the foreign investment laws of a host state, the assessment turns to whether the party has a so-called "qualifying investment" in the host state. In this instalment, Jackwell Feris highlights that without an investment being deemed as a "qualifying investment" in a host state, a qualifying investor will not derive any protection for such investment under an investment treaty or under certain instances the foreign investment laws of the host state.

What do we mean by
24 October 2018 Dispute Resolution

What do we mean by "qualifying investor" for investment protection?

In this instalment, Director Jackwell Feris discusses the concept of "qualifying investor" for purpose of deriving protection for an investment made by a national of one contracting state in the territory of another contracting state to an investment treaty or under certain instances the foreign investment laws of a host state.

Investment Protection in Africa
17 October 2018 Dispute Resolution

Investment Protection in Africa

Over the next few weeks, CDH will release a number of inserts on international investment protection from a South African and African perspective. The catalyst for these inserts stems from various seminars and workshops led by CDH Director, Jackwell Feris) over the past few years, focusingon the international framework for protection for investments in Africa.

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