THE GOVERNANCE OF THE DISSOLUTION OF MUSLIM MARRIAGES IN SOUTH AFRICA
On 9 May 2024, President Cyril Ramaphosa signed the Divorce Amendment Bill into law, which introduced a meaningful change in respect of Muslim divorces in South Africa. The amendment to the Divorce Act of 1979 came about as a result of the Constitutional Court decision in the matter between Women’s Legal Centre Trust v President […]
THE UNITRANS CASE: WHEN CAN INTEREST BE DEDUCTED AS AN EXPENSE?
The High Court recently handed down judgment in an appeal from the Tax Court in the matter Unitrans Holdings Limited v CSARS. Unitrans Holdings Limited (Unitrans), is an investment holding company that performs a treasury function to group companies, including providing loan funding and cash management. Unitrans’s wholly owned subsidiaries had a cash management arrangement […]
FRAUD, RESTITUTION AND RESTORING THE STATUS QUO
The case of Titan Asset Management (Pty) Ltd v Lanzerac Estate Investments (Pty) Ltd is an offshoot of the Steinhoff corporate scandal. In this case, per an agreement between Christo Wiese and Markus Jooste, various businesses, assets and entities of Lanzerac (“Lanzerac Assets”) were acquired by Jooste at a value of R220 million in exchange […]
THE RIGHT OF EXTENSION
A developer may, on application for the opening of a sectional title register, reserve the right to extend the scheme in terms of Section 25(1) of the Sectional Titles Act 95 of 1986 (the ‘Act’). The Developer is required to stipulate the period for which he reserves the right to complete the extensions. The Act […]
CAN AN EMPLOYER INCLUDE BONUSES AND PROVIDENT CONTRIBUTIONS IN THE CALCULATION OF EMPLOYEES’ SALARIES TO FULFIL THE PURPOSE OF THE NATIONAL MINIMUM WAGES ACT?
The purpose of the National Minimum Wages Act 9 of 2018 (“the Act”) is inter alia to establish the national minimum wage and section 5 of the Act prescribes the method to calculate this. In Quantum Foods (Pty) Ltd v Commissioner H Jacobs N. O. and Others, Quantum Foods, in an effort to comply with […]
BENEFICIAL OWNERSHIP OF COMPANIES: NEW RECORD-KEEPING AND REPORTING REQUIREMENTS
On 1 April 2023, several changes to the Companies Act, 2008 will come into force. They arise from the General Laws (Anti-Money Laundering and Combating Terrorism Financing) Amendment Act, 2022 – one of the Acts which were enacted in an effort to avoid the greylisting of South Africa. The goal is to establish and maintain […]
PROPOSED CHANGES TO THE LAW ON BENEFICIAL INTERESTS IN SECURITIES
Do you have a beneficial interest in shares which are registered in the name of someone else? Or, are you the registered holder of shares in which someone else holds a beneficial interest? If so, you should be aware of the proposed changes to the law on beneficial interests in securities as contained in the […]