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If you snooze, you lose!
8 July 2020 Dispute Resolution

If you snooze, you lose!

In many commercial cases, the actual authority of the representatives of the contracting parties is placed in dispute. By way of example, one party alleges that the signatory to a contract was not duly authorised by the board of directors to conclude the contract and, accordingly they seek to avoid the consequences of the contract by virtue of a lack of authority.

Financial Service Providers: What is a
8 July 2020 Dispute Resolution

Financial Service Providers: What is a "fit and proper person" and does such finding constitute administrative action?

In terms of the Financial Advisory and Intermediary Services Act of 2002 (the FAIS Act), Financial Service Providers, commonly referred to as FSPs, must be licensed with the Financial Services Conduct Authority (the FSCA), and its predecessor, the Financial Services Board (FSB). The FSCA regulates and authorises the rendering of financial services to clients. Once a license has been granted to a FSP, it is the responsibility of the individual FSP’s to appoint a key individual to serve as their representative. The FAIS Act requires that such person is deemed a “fit and proper person” and decrees a close supervisory responsibility by FSP’s over such chosen individuals. The onus is thus on the individual FSP to ensure that their respective representative falls within the ambit of “fit and proper”.

Cession in security: The real meaning of reversionary interest
8 July 2020 Finance & Banking

Cession in security: The real meaning of reversionary interest

In previous articles, we discussed the nature of cession in security of personal rights, related matters and distinguished it from an out and out cession. It is often the case that a cedent, which has pledged and ceded in security its personal rights to its book debts, monies in bank accounts, insurance policies or shares as security for the repayment of a loan, pledges and cedes in security its reversionary interest thereto, either as security for the same loan obligation or a different loan obligation.

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If you snooze, you lose!
8 July 2020 Dispute Resolution

If you snooze, you lose!

In many commercial cases, the actual authority of the representatives of the contracting parties is placed in dispute. By way of example, one party alleges that the signatory to a contract was not duly authorised by the board of directors to conclude the contract and, accordingly they seek to avoid the consequences of the contract by virtue of a lack of authority.

Financial Service Providers: What is a
8 July 2020 Dispute Resolution

Financial Service Providers: What is a "fit and proper person" and does such finding constitute administrative action?

In terms of the Financial Advisory and Intermediary Services Act of 2002 (the FAIS Act), Financial Service Providers, commonly referred to as FSPs, must be licensed with the Financial Services Conduct Authority (the FSCA), and its predecessor, the Financial Services Board (FSB). The FSCA regulates and authorises the rendering of financial services to clients. Once a license has been granted to a FSP, it is the responsibility of the individual FSP’s to appoint a key individual to serve as their representative. The FAIS Act requires that such person is deemed a “fit and proper person” and decrees a close supervisory responsibility by FSP’s over such chosen individuals. The onus is thus on the individual FSP to ensure that their respective representative falls within the ambit of “fit and proper”.

Cession in security: The real meaning of reversionary interest
8 July 2020 Finance & Banking

Cession in security: The real meaning of reversionary interest

In previous articles, we discussed the nature of cession in security of personal rights, related matters and distinguished it from an out and out cession. It is often the case that a cedent, which has pledged and ceded in security its personal rights to its book debts, monies in bank accounts, insurance policies or shares as security for the repayment of a loan, pledges and cedes in security its reversionary interest thereto, either as security for the same loan obligation or a different loan obligation.

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Regulating the consequences of force majeure in your contract
20 May 2020 Corporate & Commercial

Regulating the consequences of force majeure in your contract

The emergence of Covid-19 introduced a host of governmental directives that made it impossible for some parties to meet their contractual obligations, often leaving them scrambling for their contracts to see how this has been regulated, if at all.

The question of adequate protection for essential service healthcare workers during the COVID-19 pandemic: The Labour Court analyses a trade union's complaints
14 April 2020 Employment

The question of adequate protection for essential service healthcare workers during the COVID-19 pandemic: The Labour Court analyses a trade union's complaints

On 8 April 2020, the Labour Court heard an urgent application launched by the National Education, Health and Allied Workers Union ("NEHAWU") against the Minister of Health ("the Minister"), the Minister of Employment and Labour, and the Provincial MECs for Health. This application concerned whether adequate provision of personal protective equipment ("PPE") was being made available to healthcare workers on the front line in public hospitals.

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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Retrenchments during the national lockdown
21 May 2020 Employment

Retrenchments during the national lockdown

Bheki Nhlapho, Senior Associate in the Employment Practice joined Morning Live on SABC News to discuss retrenchments during the national lockdown. He explains the employees' rights and alternatives available to employers in order to avoid retrenchments.

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Banked leave burdening employers
29 June 2020 Employment

Banked leave burdening employers

Asma Cachalia, Associate in the Employment practice joined Channel Africa to discuss banked leave burdening employers. She explains the importance of changing leave policies and employers encouraging employees to take statutory leave during the lockdown.

Social media posts and defamation of character
23 June 2020 Employment

Social media posts and defamation of character

Tamsanqa Mila, Associate in the Employment Practice joined Rise FM to discuss the implications of what one posts and shares on social media and how this could lead to being sued for defamation of character.

COVID-19 health and safety regulations for employers
17 June 2020 Employment

COVID-19 health and safety regulations for employers

Gillian Lumb, Director in the Employment Practice joined Pippa Hudson on Cape Talk to discuss the COVID-19 health and safety regulations for employers. She clarifies the guidelines that are set out by government in relation to health and safety in the workplace.