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Commercial Law

The Cybercrimes Act, 2020: Be aware of the personal data you hold

The incidence and variety of cybercrimes are proliferating year on year and will continue to do so faster than any legislature is able to promulgate laws that provide for the criminalisation, investigation and prosecution of those crimes. Against this backdrop, President Ramaphosa signed into law the Cybercrimes Act, 2020, on 26 May 2021. This is […]

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Property Practitioners Act: How it Aims to Safeguard the Sector

To date, the Estate Agency Affairs Act, No. 112 of 1976 (the “Estate Agency Affairs Act”) has regulated persons who qualified as estate agents. However, the new Property Practitioners Act, No. 22 of 2019 (the “Act”) seeks to regulate all role players in the property industry by repealing the Estate Agency Affairs Act and by

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Automotive Aftermarket: Overhaul expected from 1 July 2021

Towards the end of last year, Guidelines for Competition in the South African Automotive Aftermarket (“Guidelines”) were issued by the Competition Commission (“Commission”) and are due to come into effect on the 1st of July 2021. The Guidelines should not come as a surprise to anyone in the industry, as discussions have been “on the

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Selling Shareholders Beware: How the NCA affects Vendor Financed Transactions

The National Credit Act 34 of 2005 (“NCA”) requires that, if you are selling your shares or assets in a company to a purchaser, and you have structured the sale such that: The full purchase price, or a portion thereof, will be paid at a later stage either in installments or one bullet payment; and

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Deferred Payment Sales: Risks and Mitigation Tips for Sellers

A sale of business or shares usually follows a predictable pattern. In many cases, the seller agrees to transfer business assets or shares before receiving final payment, which is referred to as a ‘deferred payment’ or ‘deferred loan’.  A seller may agree to transfer ownership on a deferred payment basis for various reasons, including a

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First Steps toward Crypto Asset Regulation in SA

The release in the past few weeks by National Treasury of proposed amendments to the schedules to the Financial Intelligence Centre Act, 2001 (FIC Act), seems to have passed largely unnoticed by the general public. This, however, marks the first real step taken by government in achieving its stated aim of implementing a proportionate and

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