It aims to ensure responsible behaviour, but its ultimate goal is to achieve maximum efficiency and sustainability. Program is offered as a blended learning course comprising of online interaction and residential blockweeks in pretoria. With international comparisons comprehensively addresses the changes to corporate governance in south africa introduced by the king iv report of 2016. The term refers to the legal practice of law relating to corporations, or to the theory of corporations. The two most important considerations in south african employment law is that of substance and procedure. Many members and associates of the centre for business law serve on influential bodies in business and government, and are recognised in south africa and internationally as leaders in. Corporate governance laws and regulations south africa covers common issues in corporate governance laws and regulations including transparency and reporting and corporate social responsibility in 33 jurisdictions. This is a report about corporate responsibility and the business of law. Corporate and business law south africa specimen answers section a 1c 2c 3 a 4b 5a section b 1 a a partnership is not a separate legal entity with separate legal personality.
This second edition of corporate goverance in south africa. It considers the implications of the corporate responsibility agenda for business lawyers and for the practice of business law. South african law requires a prospective lawyer get a law degree, work in a legal setting and pass an admissions exam. South african company law is that body of rules which regulates corporations formed under the companies act.
Your sectors news, opinions, research, events, jobs and companies. For example, a partnership may sue or be sued in its business name. In a construction context this is important as there are different rights created by what is known as the law of property. Human trafficking report cases of human trafficking hotline operated by the salvation army and be heard 08007 37283 0 8000rescue national human trafficking helpline. It considers best practice in corporate governance based on global trends and experience. Psm 8 basic principles of property law in sa 6 of 50 1. Undoubtedly one element of south africas equity culture, widespread. Tax law sars, vat, income tax, customs tax, estate duty.
Each endorsement indicates support for the principles as espoused by this report. Corporate responsibility and the business of law final. Specific aspects of south african company law are considered against a conceptual or theoretical basis. To achieve this, states should provide political leadership by prioritising corporate crimes cases and making clear that corporate accountability is essential to ensuring the rule of law and access to justice. South africa has made many great strides in developing its company law regime. There are differences between versions, as with king iii and king iv and.
Centre for business law with more than 60 academic members of staff, it is the largest department in south africa specialising in all aspects of commercial law. Many large corporate and commercial transactions take place in johannesburg, south africas economic hub. The team of lecturers involved combine intellectual leadership and cutting edge practical insight. A number of regulatory changes took place in south africa in 2018, impacting a variety of sectors and that to varying degrees speak to the rule of law. In south african company law, shareholders of companies enjoy limited liability because a company is regarded as a separate legal entity that exists on its own as a juristic person. King iv report on corporate governance for south africa. A company thus has legal rights and obligations in the same way that a natural person. Corporate law often describes the law relating to matters which derive directly from the. John was admitted as an attorney in south africa in 2000 and as a member of the new york bar in 2016. A company is a business organisation which earns income by the production or sale of goods or services. The south african council for the quantity surveying profession established in terms of the quantity surveying profession act 2000 act 49 of 2000 professional skills module no. Its aim is to stimulate discussion in this neglected area, with a view to. Requirements for becoming a lawyer in south africa. Governance in south africa corporatecommercial law.
Its provisions are not mandatory, but listed companies must disclose and give reasons in their annual report if they do not comply with the king code. A the constitution is the most important source of law in south africa b chapter 2 of the constitution deals with the bill of rights, the cornerstone of south african democracy. Commercial and corporate law news in south africa golegal. One of the main goals of the king iv committee was to increase the accessibility of the codes and the refine simplicity of its principles. A critical analysis of the piercing of the corporate veil.
The previous companies act, no 61 of 1973 the 1973 act followed the english law to a very large extent and did not attempt to. Definition of a company a company is a corporation an artificial person created by law. Insights into tax law from south africas leading tax lawyers and other tax professionals, examining tax legislation and case law. A the constitution is the most important source of law in south africa b chapter 2 of the constitution deals with the bill of rights, the cornerstone of south african democracy c none of the rights in the bill of rights are absolute. South africa, which has been underway since way before 2003, when the bill was approved by parliament. Chapter by chapter, from afghanistan to zimbabwe, we summarize corporate tax systems in more than 160 jurisdictions. Governance in south africa corporatecommercial law south. Senior lecturer in the department of mercantile law, school of law, college of law and justice, university of south africa michele havenga professor in the department of mercantile law, school of law, college of law and justice, university of south africa 1. South african company law for the 21st century guidelines. Being a lawyer in cape town could make for an exciting career, if you meet the statutory requirements. A read is counted each time someone views a publication summary such as the title, abstract, and list of authors, clicks on a figure, or views or downloads the fulltext. These two factors must be considered in all decisions and especially when a dismissal is involved. Further, the principle of actor sequitur forum rei applies in south african law such that the party giving.
Introduction corporate governance is a wide term defined in different ways by. Corporate law attorneys corporate law alliance cape town. The courts then began to impose a fiduciary duty on promoters similar to that imposed on agents. This entry also covers rules by which partnerships and trusts are governed in south africa, together with albeit in less detail.
Bowmans is simply first class bowmans leadership in east and south africa was recognised in the legal 500s europe, middle east and africa report for 2020, which was released yesterday 15 april 2020, with one client being quoted as saying that the firm is simply first class. University of south africa unisa college of law pretoria, south africa 4 followers 11 discussions fulltime. The study also aims to propose the adoption of the south african insolvencycorporate insolvency law regime in nigeria, aimed at aiding in the development and restructuring of the nigerian corporate insolvency structure. The uj law faculty is thus well placed to offer a highly relevant llm in commercial law, drawing students from leading commercial firms. Covid19 novel coronavirus south african government. Introduction the law of property in its widest sense deals with all assets that could form part of a persons estate. South african company law for the 21st century guidelines for. For certain purposes, however, it is treated by law as if it is a separate legal entity. The institute of directors in southern africa iodsa published the king iv report on corporate governance on this week the fourth iteration of the codes since the king committee was formed in 1992. The king iv report on corporate governance for south africa 2016 king iv is the most recent version. Market discipline imposed through falling equity prices has led to radical changes in corporate structure and conduct, among others the dismantling of the mining finance houses. And they cited as respondents the president of the republic of south africa and both the ministers of justice and correctional services.
This topic incorporates news and insights which examine business relationships, commercial projects and trade from a legal perspective. Pdf the reform of corporate law in south africa maleka. Guidelines for corporate law reform gn 1183 in gg 26493 of 23 june 2004 at 16. In south africa, the vast majority of attorneys focus on corporate law. Once the transaction is finalised, the corporate lawyers will draft the new shareholders agreements and advise on the share structuretypes of shares to be issued in. The cornerstone of johns practice is advising on corporate transactions and commercial contracts. The major difference between these lawyers is the size of the transactions that they participate in. Taking security in south africa a comparative guide for investors provides an overview of the types of assets over which security can be taken in south africa, the different types of security, as well as the related procedures. Corporate actions and disputes are analysed with regards to legislation and policies which effect local and and foreign businesses. The most important force for corporate governance reform in south africa has been the market. Mogoeng cj 6 cause with his peers to not appoint members or judges of the sadc tribunal or to suspend the operations of the tribunal is. King iv code on corporate governance downloadable pdf. This entry also covers rules by which partnerships and trusts are governed in south africa, together with albeit in less detail cooperatives and sole proprietorships.
John has a ba llb university of cape town and an llm corporate law new york university. The code of corporate practices and conduct king code in the king report on corporate governance for south africa 2002 king report, applying mainly to companies listed on the jse limited. Corporate law also known as business law or enterprise law or sometimes company law is the body of law governing the rights, relations, and conduct of persons, companies, organizations and businesses. Several weaknesses in the new procedures are identified and a number of recommendations are made to improve the relevant provisions and to assist in providing south african company law with an efficient and acceptable corporate rescue regime. The institute of directors in southern africa and the king committee on corporate governance in south africa acknowledge with appreciation those who support king iv and corporate governance in south africa through their endorsements. Summary owing to global changes in the field of corporate governance and corporate law reform in south africa, corporate governance has become an important aspect of the way in which corporations are doing business. A gives an overview of key recent developments affecting doing business in south africa as well as an introduction to the legal system. Corporate and paper f4 zaf business law south africa monday 8 december 2014. The content is current on 1 january 2019, with exceptions noted. South africa is a highly regulated society and compliance with the myriad of laws can be daunting for any business. Find the latest articles and legal opinions with regards to sars conduct, the taxation of local and foreign entities and assets, and the tax consequences of individual and corporate activities, ranging from loans, trusts, share buybacks, reits, import and.