RSM South Africa

Legal insights

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.

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.

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