THE CONSEQUENCES FOR A COMPANY’S FAILURE TO LODGE ITS ANNUAL FINANCIAL STATEMENTS
Section 186 of the Companies Act No. 71 of 2008 (“Companies Act”) stipulates, amongst other things, that one of the main objectives of the Companies and Intellectual Property Commission (“CIPC”) is the efficient, effective and widest possible enforcement of the...
THE FINER DETAILS OF RING-FENCED COMPANIES IN TERMS OF THE COMPANIES ACT NO. 71 OF 2008
In terms of the Companies Act No. 71 of 2008 (“Companies Act”), if a company wishes to restrict the nature of its business or powers, or limit the amendment of any provision of its memorandum of Incorporation (“MOI”), the company’s MOI must be amended to reflect this...
THE BENEFITS AND RISKS ASSOCIATED WITH DEBENTURES AND PREFERENCE SHARES FROM A FINANCIER’S VIEWPOINT
The South African corporate finance landscape provides financiers with various options when it comes to securing their loans, and financiers are often faced with difficult decisions regarding which vehicle or structure is best suited to provide finance facilities to...