Background: Section 163 of the Companies Act No. 71 of 2008 (“Companies Act”) contains provisions regarded as the ‘oppression remedy’ which can be utilised by both shareholders and directors of a company. Section 163 of the Companies Act provides, in broad terms, relief to shareholders and directors for prejudicial...

In an increasingly interconnected world, the protection of personal information has become a paramount concern for individuals, businesses, and governments alike. By recognising the importance of safeguarding sensitive personal information and upholding the right to privacy, countries worldwide have embarked on...

Background: Prior to the introduction of the Companies Act No 71 of 2008 (“Companies Act”), duties pertaining to the directors (“Fiduciary Duties”) were governed by South African common law (“Common Law”). The Common Law stipulates that the directors must always act in the utmost good faith and exercise their...

Introduction In today's competitive business landscape, companies are often faced with challenges when it comes to raising capital for their growth and expansion plans. While traditional financing options such as bank loans and equity investments are widely available, they may not always be suitable or sufficient for...

In carrying out their duties and functions, directors of a company are exposed to many risks and liabilities and it is important for directors to understand the legal rights and protections which they are afforded under South African law. One such protection mechanism which is afforded to directors is that of...

Background: The provisions of the Financial Intelligence Centre Act No. 38 of 2001, as amended ("FICA"), go beyond being a mere "add-on" to existing business procedures. To ensure effective compliance, businesses must develop well-defined documented processes and procedures that align with a risk-based approach....

Background: The Employment Equity Amendment Bill of 2020, which was passed by parliament on 17 May 2022, has now been signed into law by the president of the Republic of South Africa (“Employment Equity Amendment Bill”). The Employment Equity Amendment Bill makes certain amendments to the Employment Equity Act No. 55...

During October 2021, the Financial Action Task Force published its Mutual Evaluation Report of South Africa which evaluated the effectiveness of South Africa’s money laundering and terrorism financing measures (“Report”). The Report recommended, amongst other things, the creation of a beneficial ownership register...