Our team acts for a leading South Africa-based financial advisory services company
Our team acts for a leading South Africa-based financial advisory services company
Our team acts for a leading South Africa-based financial advisory services company in opposing a class action suit launched against several respondents who represent classes of shareholders in a defunct manufacturing and retail group.
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15 Jan 2025
by Alex Muchira and Yvonne Mkefa
Filing of financial statements
Section 683 of the Companies Act, 2015, read together with sections 686, 687, 688 and 689 of the Companies Act, requires companies to lodge financial statements for each financial year with the Registrar of Companies(Registrar).
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1 Nov 2024
by Megan Rodgers, Amore Carstens, James Ross, Dean Tennant and Elham Shaik
Legislation on the move: The President signs the Upstream Petroleum Resources Development Act
The Upstream Petroleum Resources Development Bill (now the Upstream Petroleum Resources Development Act. 23 of 2024) (Act) was finally assented to by the President on 25 October 2024 and published in the Government Gazette on 29 October 2024.
Oil & Gas
9 min read
10 Feb 2025
by Yaniv Kleitman, Nadeem Mahomed and Roxanne Bain
The Companies Act amendments: Key implications for employers and the workplace
The Companies Amendment Act 16 of 2024 (First Amendment Act) and the Companies Second Amendment Act 17 of 2024 (Second Amendment Act) (collectively, the Amendment Acts) were signed into law on 26 July 2024, amending the Companies Act 71 of 2008 (Companies Act). Rather unexpectedly, it was proclaimed that certain sections of the First Amendment Act and the entirety of the Second Amendment Act became effective from 27 December 2024.
Corporate & Commercial Law
8 min read
10 Apr 2025
by Heinrich Louw and Theodore Pauw
Bringing (and keeping) home the bacon: SARS’ repatriation and collection powers affirmed
Sections 180, 184(2) and 186(3) of the Tax Administration Act 28 of 2011 (TAA) grant the South African Revenue Service (SARS) significant powers to recover tax debts from third parties responsible for a taxpayer’s failure to pay outstanding tax debts. In the recent case of Greyvensteyn v Commissioner for South African Revenue Service and Others (B2495/2023) ZAGPPHC 128, the applicant unsuccessfully challenged the constitutionality of these provisions. The High Court dismissed the application and emphasised that, while SARS’ powers and duties of recovery of taxes are not absolute, the recovery of taxes is crucial to ensure that the public benefit and public interest are served.
Tax & Exchange Control
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19 Nov 2024
by Belinda Scriba, Claudia Grobler and Luke Kleinsmidt
Tribunal takes no nonsense with director removals
Section 71 of the Companies Act 71 of 2008 (Act) sets out the process of removing a director of a company. Usually, subsections 3 and 4 would apply, which prescribe (i) a shareholder or board resolution authorising such removal; and (ii) prior notice of such resolution being given to the affected director. In the case of Howard N.O v Powell and Another (CT01682ADJ2024) COMPTRI 57 (24 May 2024), the Companies Tribunal (Tribunal) confirmed the process of the alternative mode of removal of a director when there are fewer than three directors in theboard.
Dispute Resolution
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4 Sep 2024
by Chris Charter and Duran Naidoo
A balancing act or dangerous imbalance? Discussing the Evolution and Import of the Public Interest Assessment in the Competition Act
The public interest assessment element of merger control has undergone significant transformation since the Competition Act's inception.
Competition Law
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