PUBLICATIONS

DON’T MISS SOMETHING SPECIAL
WHEN IS IT APPROPRIATE TO MAKE USE OF A SECTION 345 LETTER OF DEMAND?

WHEN IS IT APPROPRIATE TO MAKE USE OF A SECTION 345 LETTER OF DEMAND?

Background: A letter of demand in terms of section 345 of the Companies Act No. 61 of 1973 (the “Old Act”) is a powerful tool for debtors who are owed an amount of money exceeding R100 (one hundred Rand) (“345 Letter of Demand”), however, creditors should be aware of when and how to utilise a 345 Letter of Demand, as...

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REGULATING CRYPTO ASSETS – IS IT THE BEST WAY FORWARD?

REGULATING CRYPTO ASSETS – IS IT THE BEST WAY FORWARD?

On or about 20 November 2020 the Financial Sector Conduct Authority (“FSCA”) took its first meaningful strides towards incorporating crypto assets into the South African legal framework by publishing a draft declaration (“Draft Declaration”) which declared crypto assets as a “financial product” in terms of the...

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SHADOW DIRECTORS VERSUS PRESCRIBED OFFICERS

SHADOW DIRECTORS VERSUS PRESCRIBED OFFICERS

Background: The Companies Act No. 71 of 2008 (“Companies Act”) defines a director as either a member of the board of a company, as contemplated in section 66 of the Act, or an alternate director of a company and includes any person occupying the position of a director or alternate director, by whatever name...

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LOOP STRUCTURES EXPLAINED

LOOP STRUCTURES EXPLAINED

Until recently, South African investors contemplating foreign investments were required to take note of the South African exchange control regulations in order to avoid a potential pitfall, namely creating a loop structure. Loop structures come into existence when a South African individual or company transfers...

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THE HISTORY AND BENEFITS OF SHARE BUY-BACKS

THE HISTORY AND BENEFITS OF SHARE BUY-BACKS

A share buy-back, also commonly referred to as a share repurchase, is a process whereby a company buys back its own shares from its shareholders, whether by agreement or by virtue of a scheme of arrangement as contemplated in terms of the Companies Act No. 71 of 2008 (“2008 Companies Act”) (“Share Buy-Backs”) - a...

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