Government and State-Owned Entities News
More newsCompanies Act changes imminent: What you can do to prepare
On 26 March 2024, the Companies Amendment Bill (Bill) and the Companies Second Amendment Bill (Second Amendment Bill) were passed by the National Council of Provinces and are now awaiting presidential assent. With this anticipated to happen at any moment, the enactment into law of the Bill and the Second Amendment Bill (collectively, the Bills) isimminent.
The ball is in our courts: How section 20(9) of the Companies Act empowers courts to unmask corporate identity
One of the cornerstones of South Africa’s corporate law is the separate legal existence of companies, which provides, generally, protection to its directors and shareholders against personal liability for a company’s debts and also makes a distinction between companies forming part of the same group of companies. However, sometimes, through the unlawful actions of shareholders and directors, it is necessary for our courts to look behind the separate legal entity companies in a group and treat such group companies as one legal entity.
Early Detection of Fraud and/or Corruption in Arbitrations: Lessons from the Recent English Court Decisions?
Two recent English Commercial Court decisions serve as a warning to dishonest parties hoping to exploit the arbitral process to obtain or enforce fraudulent or corrupt arbitration awards. The English courts generally follow a non-interventionist approach when it comes to the challenge of enforcement of arbitral awards. However, these recent decisions signify that the Commercial Court can and will use its statutory powers to intervene, investigate and order disclosure to uphold the legitimacy of the arbitral process and parties’rights.