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 […]
The Cybercrimes Act, 2020: Be aware of the personal data you hold Read More »
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
Property Practitioners Act: How it Aims to Safeguard the Sector Read More »
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
Automotive Aftermarket: Overhaul expected from 1 July 2021 Read More »
When a business decides to raise funds, it has a number of options available. The most common options would be in the form of a loan from a licensed institution (whether in the form of overdrafts, revolving credit facilities, syndicated loans or other forms) or to approach the capital markets. These loans would c be
Securitisation as a Preferred Funding Mechanism Read More »
The one-year grace period for ensuring compliance with the Protection of Personal Information Act 4 of 2013 (POPI) comes to an end on 1 July 2021. This may come as a welcome relief for us in our personal capacities as it promises to curtail the number of unsolicited emails, SMSs and telemarketing or robocalls that
POPI: 10 Compliance Tips for Companies Read More »
What is it? The Social and Ethics Committee of a company (“SE Committee”) is one that is concerned with a company’s responsibility in areas dealing with social, commercial and environmental matters. It was formally introduced into South African law through the Companies Act, No 71 of 2008. In this article, I aim to provide an
Social and Ethics Committees: The Basics Read More »
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
Selling Shareholders Beware: How the NCA affects Vendor Financed Transactions Read More »
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
Deferred Payment Sales: Risks and Mitigation Tips for Sellers Read More »
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
First Steps toward Crypto Asset Regulation in SA Read More »
At the start of their relationship, shareholders are usually aligned on their vision for the company and are excited to see what the future holds for the business. However, circumstances can change very quickly and in the event that shareholders cannot work together to move the company forward, the remedies contained in a shareholders’ agreement
Shareholders’ Agreements: How to Ensure a Smooth Exit Read More »
