The general rule is that members of close corporations are not liable for debt incurred by the corporation. One of the exceptions is, however, provided for in section 26 (1) of the Close Corporations Act 69/1984. This section provides for the members’ personal liability in case of deregistration of the close corporation. The Companies Office […]
Read more...Category: Commercial Law
Commercial Law
When must close corporations or companies lodge annual returns?
All members of close corporations (“CC’s”) and directors of companies should take note of the Corporate Laws Amendment Act which was promulgated on the 22nd January 2002. In terms of this act all CC’s and companies must in future lodge a return with the Registrar of Companies every year: the annual return must be lodged […]
Read more...What is the difference between a close corporation, a company and a trust?
CREATION CC: Registration of founding statement at the Companies Office Company: Registration of articles of association and statutes at the Companies Office Trust: Registration of trust deed at Master of the Supreme Court’s Office EQUITY CC: Members hold members interest (maximum ten and only natural persons) Company: Shareholders hold shares Trust: Trustees hold trust assets […]
Read more...Watter beskerming bied die Maatskappyewet vir minderheidsaandeelhouers?
1. Daar is verskeie bepalings in die Maatskappywet wat gerig is op die beskerming van minderheidsaandeelhouers. Een van die belangrikste hiervan is Artikel 252, wat in ‘n neutedop bepaal dat ‘n aandeelhouer wat van oordeel is dat ‘n maatskappy waarin hy ‘n belang hou onredelik benadelend, onregverdig of onbillik teenoor hom optree of daardie maatskappy […]
Read more...Can a sharholder force the company to provide him with the company’s books of account?
The Promotion of Access to Information Act 2/2000 (the Act) is often enforced to gain access to information held by the State, especially for obtaining reasons for decisions made by organs of the State: vertical application. In the recent case of Davis v Clutchco (Pty) Ltd 2004 (1) SA 74 (C) the court confirmed that […]
Read more...Kan ‘n lid persoonlik aanspreeklik gehou word waar hy ‘n BK bedrieglike bestuur ?
Beginselvraag: In hierdie saak moes die Hoogste Hof van Appél beslis oor die persoonlike aanspreeklikheid van die lede en verteenwoordigers van ‘n beslote korporasie (“BK”) waar die sake van die BK op ‘n bedrieglike wyse bedryf is. Feite: Die eisers, Airport Cold Storage (Edms) Bpk het vir etlike maande vleis aan ‘n sekere BK voorsien. […]
Read more...Wat beteken die beginsel dat die herstel van besit by ‘n grondeis ekonomies vatbaar moet wees?
BAPHIRING COMMUNITY v UYS & OTHERS 2010 (3) SA 130 (LCC) Hierdie hofuitspraak is deur die Grondeise hof gelewer waar Regter Geldenhuys en Waarnemende Regter Mia tesame met ‘n assessor by name Wiecher ‘n aangeleentheid aangehoor het oor ‘n grondeis in terme van die Restitution of Land Rights Act 22 van 1994 ingestel en die […]
Read more...Wat bepaal die die Wet op die Finansiële Intelligensiesentrum 2001, Wet 38 van 2001?
Hierdie Wet het uiters belangrike implikasies vir al ons kliënte, en die doel van hierdie bydrae is om kliënte attent te maak omtrent die belangrikste bepalings van die Wet. Die Wet is in verskillende fases in werking gestel. Die rapporteringsplig uit hoofde van Artikel 29 van die Wet waarna hieronder verwys word het reeds op […]
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