08 February 2022
Being a director in a company does not necessarily stop you from holding shares in other companies. However, should your company transact with another company in which you have a shareholding stake and from which you could potentially benefit, it becomes important that you disclose such financial interest to your co-directors, even if you can&rsquo
14 December 2021
I understand there are amendments being proposed to the Companies Act? Will this help make life easier or harder for our company? It feels as if there is always just more red tape whenever the law changes.
15 November 2021
I’m a shareholder in a private company and wish to get rid of my shares to free up some cashflow. That said, I don’t want to sell to a stranger and my other shareholders don’t want to buy my shares either. One of them suggested that the company buy back my shares. Is this allowed?
14 September 2021
I was recently appointed as a proxy to represent a shareholder at an upcoming shareholders meeting. Unfortunately, the meeting has been rescheduled two months later, and I was wondering if the proxy will still be valid then or would I need to have a new proxy issued by the shareholder for the meeting?
16 March 2021
I noted an article the other day that referred to tax restrictions for loop structures. What is a loop structure and how have restrictions been reduced?
I recently saw an article about the B-BBEE Commission requiring BEE compliance reports to be submitted to it. I don’t really know what a compliance report is or who must submit such. Will my business have to do this?
Being a director in a company does not necessarily stop you from holding shares in other companies. However, should your company transact with another company in which you have a shareholding stake and from which you could potentially benefit, it becomes important that you disclose such financial interest to your co-directors, even if you can&rsquo...
After losing a tender, we lodged a complaint with the department against their awarding of the tender to a bidder who we are aware operates in a less than reputable fashion. The department informed us they would cancel the tender. Subsequently we have heard that although the tender was cancelled, the department wants to enter into a settlement agre...
I’ve grown up signing our business contracts with pen on paper. With Covid however, most of my suppliers send me their agreements electronically which I sign by adding a copy of my signature digitally or, in some cases using specific software through which I then add my signature. It does make things easier, but I was wondering how valid and ...
My business is 26% black owned but has been excluded from a number of tenders because of pre-qualification criteria for tenders being set at being at least 51% black owned. I’ve seen in the news though that this practice has been scratched by the courts. Is this true?
I’m a minority shareholder in a company that has been approached by a buyer willing to buy out all the shareholders. Because of Covid-19 the company has suffered financially and I know that the shareholders holding more than 75% of the company will want to accept the offer even though I believe it to be far below the market value of the share...
I hold 20% shares in a private company that I bought into a few years ago. The majority shareholders heavily influence the directors who take decisions which in my view is not always in the best interests of the company or my own as a minority shareholder in the company. What remedies are available to me?
My business has automatic Level 4 BEE recognition because our annual turnover is below R10 million. However, a key client is requiring that we have to have at least a Level 3 BEE certificate meaning I will now have to verify. However, I had no planning in place to be able to do so in my previous financial year and I cannot wait until the current fi...
I’m the procurement manager for our company. We have a strong focus on BEE in our business and take great care in our procurement and the BEE position of our suppliers. Accordingly, I have noticed from the BEE certificates of many of our suppliers that they do quite poorly with their priority elements. This is strange, given the risk of dropp...
My business processes and stores quite a large amount of information relating to our clients. We are well aware of POPIA that has now come into effect and have been putting basic processes in place. However, I remain concerned that we are not doing enough/underestimating our obligations. What should I be preparing for?
How can a business rescue plan help my business in tough My business has been struggling since the start of the Covid-19 pandemic and the national lockdown. I’ve been advised to consider business rescue but I am unsure about how I will get a business plan in place and what this will entail. Can you give some guidance here?times?
With all the Covid-19 happenings dominating the media lately, it nearly slipped through that some of the remaining provisions of the Protection of Personal Information Act came into effect on 1 July 2020. Does this mean that all businesses must now comply?
Our company has for years prided itself on regular board and shareholder meetings as the basis for the success of our business. Initially we stopped due to the Covid-19 pandemic but have started meeting again using online meeting tools. With the pandemic continuing we are worried that we are not meeting the requirements of the Companies Act by not ...
A year or two ago I asked my sister to stand as surety for me so I could buy a house for my family. I had a good job and felt comfortable in asking her to do so. She agreed and signed a surety agreement with the bank. With Covid-19 I’ve now lost my job and despite getting payment holidays from the bank, I’m not sure I will be ab...
I have a construction business that is operated in a close corporation. As we have not had much work during the last few months, my business has come under severe financial pressure. I still believe in the business and know things will pick up again, but right now we just don’t have the cashflow to pay our creditors. I’m considering bus...
I’m the only shareholder in my company, a cleaning products business. I have two directors who run the business for me. I’ve been building up the business over the years with a view to selling it as my retirement plan. However, the auditors have just informed me that the shares, in my mind worth about R10 million are now worth no more t...
Over the past few years I’ve come to understand what the Companies Act 71 of 2008 requires of me to manage my business legally and effectively. With talk of more amendments on the way, what should I be preparing for?
When dealing with mergers and acquisitions, the one question that always arises is what tax relief, if any, exists for companies that are contemplating a merger?
With technology and accessibility to creative tools, platforms and social media expanding the ease and accessibility of creating anything from your own music to a short film and everything in between, it raises the question of copyright protection an...
Quite often new entrepreneurs start off exploring other sideline businesses while still in the employ of their current employer. Take the example of a textile worker that starts to set up her own clothing business on the side by making clothes after ...
We all know that insurance is there to provide relief from an uncertain event that could arise and cause damage to your property. But, can you insure for example your car with two insurers and should your car be written off in an accident claim for a...
A typical situation encountered in a property transaction: The deed of sale has been signed, the intended buyer is applying for a loan but paperwork and delays at the bank slow things down. Suddenly the transferring attorney lets the buyer know that ...
The phrase “out with the old, in with the new” is not completely true when it comes to the transfer of a business as a going concern.
Plant and grow fresh, organic and cost-effective produce in or for vulnerable communities
With so much communication happening via WhatsApp these days, even between employee and employer, it raises the question as to whether an employee can be fired for a WhatsApp sent to his/her employer?
In a saga that has traversed the Western Cape High Court, Supreme Court of Appeal and eventually the Constitutional Court, the Constitutional Court has now finally confirmed the position of Government in respect of its responsibility for the safety o...
Acting as a surrogate is a selfless and generous act towards parents who cannot conceive their own child. But what about existing children of a surrogate mother and the impact surrogacy may have on them? Should this not also be considered?