Navigating Business Rescue, Restructuring & Insolvency during COVID-19 | Part 2

Industry update: Change in air service licensing process

In a significant shift for South Africa’s aviation sector, the Minister of Transport has announced a crucial change regarding the processing of Foreign Operator Permit applications and Air Service Licence applications.

Making sense of beneficial ownership thresholds: The FIC Act versus the Companies Act

Both the Financial Intelligence Centre Act 38 of 2001 (FIC Act) and the Companies Act 71 of 2008 (Companies Act) create legal regimes relating to the uncovering of beneficial ownership of an entity. The former requires accountable institutions (as defined) to verify the beneficial owners of their clients, and the latter requires certain types of companies (namely, non-affected companies 1 ) to keep record of and disclose their beneficial owners to the Companies and Intellectual Property Commission (CIPC).

Increasing accessibility: The Competition Commission’s Fresh Produce Market Inquiry

On 23 March 2023, the Competition Commission (Commission) initiated the Fresh Produce Market Inquiry (the inquiry). The scope of the inquiry was set out in the final terms of reference (ToR).

2024 Budget summary: VAT

A new African order: Key initiatives and trends transforming international arbitration in Africa

CDH, together with the Arbitration Foundation of Southern Africa (AFSA) and other local and international co-hosts, presented the inaugural Johannesburg Arbitration Week ( JAW) earlier this month. The conference showcased Africa’s increasing prominence in international arbitration, highlighting the continent’s arbitration capabilities as well as key initiatives and trends shaping and transforming dispute resolution inAfrica.  

Constitutional Court clarifies when retrenchments are merger specific

South Africa faces one of the highest unemployment rates in the world. This is the primary reason that the Competition Commission (Commission) must consider the effect on employment (as part of its public interest assessment) when evaluating a proposed merger. It has become standard practice in South Africa when there is a merger for restrictions to be imposed by the competition authorities – especially in respect of retrenchments.