BACKGROUND During the course of the G20 High-Level Principles on Beneficial Ownership Transparency held in 2015, the South African Government made a commitment towards improved beneficial ownership regulation. This was followed up with a further commitment made by the Open Government Partnership during 2016, with both commitments entailing a transparent, central and public beneficial ownership [...]
In terms of Section 66(1) of the Companies Act (2008) (“the Companies Act”), the business and affairs of a company must be managed by or under the direction of its board of directors, which has the authority to exercise all of the powers and perform any of the functions of the company, except to the [...]
In this article we are taking a look at the Sectional Titles Amendment Bill 2020 (“the Bill”) and the proposed changes it will bring. The Bill was introduced by the Minister of Agriculture, Land Reform and Rural Development to the National Assembly on the 2nd of November 2020. The Bill has not yet become law. [...]
INTRODUCTION This article aims to highlight the duty and obligations of Community Schemes to ensure the protection of its owners and/or residents in the scheme, in adherence to the Protection of Personal Information Act 4 of 2013 (“POPIA”) which came into operation on the 1st of July 2021. We intend to provide you with the [...]
A CASE NOTE: BRIMBLE-HANNATH V HANNATH & OTHERS [2021] ZAWCHC 102 The Applicant (the wife of the deceased) approached the court seeking an order removing the First and Second Respondents (the daughters of the deceased) as executors of the estate of the deceased. The Applicant submitted a claim in the range of R6.2 million against [...]
LIABILITY OF CREDITORS TO PAY A CONTRIBUTION WHERE THERE IS INSUFFICIENT OR NO FREE RESIDUE IN AN INSOLVENT ESTATE TO MEET EXPENSES, COSTS AND CHARGES OF SEQUESTRATION The following article discusses an interpretation of Section 106 read with Sub-Sections 89(2) and 14 (3) of the Insolvency Act 24 of 1936 (“the Act”) and specifically with [...]
This article aims to assist foreigners or non-residents of South Africa to determine whether they can buy and invest in the real estate market of South Africa and what is to be expected before and during a property transaction. CAN A NON-RESIDENT BUY PROPERTY IN SOUTH AFRICA? South Africa has one of the most comprehensive [...]
Many individuals in South Africa are still members of Close Corporations. A Close Corporation (“CC”) is what is known as a juristic person – in law it is regarded as an entity separate from the individuals who are members of it. One of the features of a CC which flows from it being a separate [...]
INTRODUCTION With the Covid-19 pandemic taking the world by storm, more individuals are facing economic hardship than ever before. It is thus no secret that various South African households have also fallen on hard times due to a collapsing economy amid this worldwide pandemic. The ensuing financial crisis have caused individuals to become trapped in [...]
When purchasing a fixed property in South Africa, either Value-Added Tax (“VAT”) or Transfer Duty will always be payable on the transaction. Both VAT and Transfer Duty are calculated based on the purchase price or value of the property to be sold. A transaction cannot be subject to both VAT and Transfer Duty - it [...]
