RSM South Africa

Legal insights

The Threshold for Major B-BBEE Transactions

17 April 2018
From 9th June 2017, any Major B-BBEE Transaction is required to be registered with the B-BBEE Commission in the prescribed Form BBBEE 18, within 15 days of being concluded.

POPI and its impact on direct marketing

9 April 2018
We live in a period where technology allows consumers to be contacted at any time via e-mail, phone calls and even through social media.

Amendments to the Unemployment Insurance Contributions Act and the effects on learners and foreign nationals

9 March 2018
The Unemployment Insurance Fund (“UIF”) allows contributors to receive benefits from the fund in the event that they become unemployed, or are unable to work as a result of maternity leave, illness or the adoption of a child. UIF also provides benefits to the dependants of a deceased contributor.

Requirements for Employment Equity Reporting

26 September 2017
Prior to 1994, South Africa was governed by apartheid regime, a system in which people were discriminated based on the colour of their skin, gender, disabilities, etc. As a result of apartheid, companies had unequal racial and gender representation of people in different levels of the organisations.

Prescribed officers - Tag! You're it!

6 July 2017
During consultation with clients, the question often arises as to which individuals in a company would be considered to be a Prescribed Officer in terms of the Companies Act 71 of 2008 (“the Act”), and what does this mean for such an individual?

King IV Report – The Importance of Corporate Governance

24 February 2017
I attended a Corporate Governance conference in September 2016. Judge Mervyn King was one of the speakers presenting on the King IV report which replaces King III and was officially released on 1 November 2016. It is effective for financial years commencing 1 April 2017.

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.

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