RSM South Africa

Legal insights

Share Buybacks - Section 48(8) of the Companies Act

14 December 2016
The Companies Act 71 of 2008 (“the Act”), provides that a company may acquire its own shares, to the extent that it is solvent and liquid, as more fully described in Section 4 of the Act.

Special Voluntary Disclosure Programme: Exchange Control Relief

8 November 2016
The 2016/2017 Budget Speech by the Minister of Finance, Pravin Gordhan saw the announcement of a Special Voluntary Disclosure Programme (“SVDP”), which is aimed at encouraging South African residents with undisclosed offshore assets and income to regularise their affairs through the SVDP.

Empowering Supplier Status Revised

1 November 2016
One of the most significant changes in the Codes of Good Practice for Broad-Based Black Economic Empowerment (“the New Codes”) that came into effect on 1 May 2015 was the requirement to be an Empowering Supplier.

Section 20(7) and Section 20(8) of the Companies Act – When will a company be bound by contract?

4 October 2016
Much has been written in the past as to the doctrine of Constructive Notice and the application of the Turquand rule.

Investing in South Africa: The "Non-Resident" Endorsement

13 June 2016
When attending to investing in a South African entity as an offshore shareholder, it is important to understand the requirements of the Exchange Control Regulations of 1961 (promulgated in terms of the Currencies and Exchanges Act, 9 of 1933), hereinafter referred to as “the Regulations” and its application as regards to any person or entity in South Africa.

South African Exchange Control Regulations

19 November 2015
A Look at the Disposal of Intellectual Property Owned in South Africa to an Offshore Purchaser It often occurs that a company established in South Africa has developed a specific software program or other processes and/or applications upon which it basis its particular service offering or product.

Director's resolution - The devil in the detail

5 November 2015
Directors’ resolutions are common place in commerce as a convenient and effective manner in which the Directors of a Company can make a decision on behalf the Company.

Investing into africa – foreign direct investment requirements

29 October 2015
Global business is increasingly showing interest in expanding their business operations into the African continent.

The Company Secretary of a Listed Company

25 September 2015
In terms of the Companies Act, 2008 ("the Act"), all public companies are required to have a company secretary who is accountable to the Board. The appointment may be a natural person or a juristic person. A private company is not required to have a company secretary unless its Memorandum of Incorporation ("MOI") requires one.

Section 30(4) of the Companies Act – New developments relating to the disclosure of directors' remuneration

25 September 2015
1. Section 30(4) of the Act and the non-binding opinion of CIPC

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