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 …
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 »
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 »
As a result of the National Disaster and the lockdown necessitated by the pandemic, the Minister of Finance announced various tax adjustments to assist businesses in light of the negative impact on the South African economy. On the 29th of March 2020, the Minister of Finance announced the details of an initial set of measures …
Updated Covid-19 Relief Measures from SARS and National Treasury Read More »
Navigating a term sheet for the first time can be a daunting process. In this article, Caveat private equity specialist Panel Member, Sarah Lawrence, answers some of the most common questions asked by entrepreneurs. What is a term sheet? A term sheet is a summary of the key commercial and legal terms upon which an …
Click here to read article by Yvonne Wakefield published in the Daily Maverick.
It is important to understand which body ultimately governs a private company, so that the correct procedures are followed by the respective bodies,in order to ensure the legitimacy of actions and decisions taken. Where an executive committee comprising the various heads of the departments within the company is appointed, there may be a tendency towards …
Board of Directors vs Executive Committee: Who rules Who? Read More »
The Supreme Court of Appeal has recently addressed a very important point in our Admiralty Law. Specifically, whether or not a protective writ can protect a creditor’s maritime claim where there has been a valid change in ownership of a vessel between the time when the writ is issued and when the writ is served …
Protective Writs: No Protection against Change in Ownership Read More »
Very simply, an acknowledgment of debt (“AOD”) is a written agreement between a debtor and a creditor in terms of which the debtor agrees that he is unequivocally liable to the creditor for a sum of money. Are there benefits? The benefits of AODs lie mostly with the creditor. It is common practice for a …
To Acknowledge, or Not to Acknowledge a Debt, that is the Question Read More »
