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Sep 08, 2023

The evolving role of Company Secretaries in South African corporations

In the ever-changing landscape of South African businesses, one role has been quietly but significantly evolving – that of the company secretary. Traditionally viewed as the custodian of company records and minutes, company secretaries in South African corporations have seen their responsibilities expand far beyond mere record-keeping. Today they play a pivotal role in governance, compliance and risk management, becoming indispensable assets for businesses operating in a complex regulatory envir ...

Aug 29, 2023

Advice for entrepreneurs – common mistakes when starting out

“It is truly astonishing how often businessmen conduct their affairs, involving at times huge financial interests, on the strength of crude and vague agreements and then ‘rely on hope, good spirits, bona fides and commercial expediency to make such agreements work’.”– Harms JA in Namibian Minerals Corporation Ltd v Benguela Concessions Ltd [1996] ZASCA 140; 1997 (2) SA 548 (A) at 561G. In assisting entrepreneurs to navigate the dynamic South African and global legal and tax landscape, one is ...

Aug 17, 2023

M&A in SA: Navigating legislation and regulation for global investment

Mergers and acquisitions play a pivotal role in shaping the economic landscape of South Africa, acting as a catalyst for growth innovation, and industry consolidation. In recent years, the country has witnessed a dynamic evolution in its M&A activity, driven by both domestic and international factors. However, this landscape is intricately intertwined with legislative and regulatory frameworks that impact global investment and participation in the South African economy. Current Trends i ...

Jul 12, 2023

How Environmental, Social and Governance influences corporate decision-making

In today's socially-conscious world, businesses increasingly recognise the importance of Environmental, Social and Governance (ESG) factors in their decision-making processes. ESG factors encompass a range of considerations, including environmental sustainability, social impact, and good governance practices. This article aims to shed light on how these factors significantly influence corporate decision-making and why they have become crucial for businesses across industries. Environmental Consi ...

Jun 06, 2023

Tax dispute resolution — who should be involved?

Are you or your business in a dispute with SARS? Are the right people helping you with your company’s dispute? Do you know your rights as a taxpayer? Increased enforcement by SARS presents a substantial need for businesses to have a trusted and experienced tax dispute resolution resource. Depending on where you are in the dispute process, it is important that the right mix of subject-matter specialists and dispute resolution specialists are involved to ensure that the right combination of tax ...

May 30, 2023

Has the Electricity Minister finally got his spark?

On 26 May 2023, Proclamation 121 of 2023 effected the long-awaited transfer of powers under the Electricity Regulation Act 4 of 2006 (ERA) to the new Electricity Minister, Kgosientsho Ramokgopa. President Ramaphosa relied on s 97 of the Constitution, which in clear terms allows the President to transfer the (a) administration of any legislation, or (b) any legislative power or function entrusted in legislation, from one Cabinet Member to another. The Proclamation refers to the transfer of “power ...

May 29, 2023

Crowdfunding in South Africa: The legal position, risks and benefits

Crowdfunding has emerged as a popular method of raising funds for various projects and initiatives across the globe. In South Africa, this innovative financing model has gained traction in recent years. Crowdfunding is not specifically regulated in South Africa. However, crowdfunding activities may be subject to existing regulation under South Africa’s general financial services regulatory frameworks and legislation. Such legislation includes the Banks Act 31 of 1990; the Companies Act 71 o ...

May 29, 2023

Understanding data privacy regulations in South Africa: Lessons from Meta's recent fine

In recent years data privacy has become a critical issue globally, and South Africa is no exception. The recent fine imposed on Meta Platform (the parent company of Facebook) by the Irish-based Data Protection Commission (DPC) has shed light on the importance of data protection and the need for organisations to comply with data privacy regulations. Meta was issued with a €1.2 billion (R25 billion) fine for contravening the European Union’s data privacy law, the General Data Protection Regulatio ...

Apr 21, 2023

Executive Incentive Programs

Keeping your executive and management appropriately incentivised remains a key part of business strategy driving success, profitability and sustainability. Incentive schemes have gone through many changes and exotic structures the years, primarily to take advantage of tax loopholes but also to keep pace with global best practice. We can loosely categorise these incentive schemes into two types - STIP’s and LTIP’s: An STIP (short term incentive plans) is a formal scheme that details the conditio ...

Apr 19, 2023

Succession planning in Small and Medium sized businesses

What is Succession Planning actually? One of the most common themes that we see emerging from our discussions with owners of small and medium sized businesses is one relating to the question of succession planning. In many cases, when the conversation is raised with us for the first time, it is too late - the business owner and the business itself, are often so far down the business life cycle that the viable options available for a bespoke and successful succession plan are limited. Succession ...

Mar 16, 2023

Are you a local company or multinational processing personal information in South Africa?

If you are, do you know that South Africa has recently passed a new privacy law for local companies and multinationals who process personal information in South Africa. The new law is called POPIA (the Protection of Personal Information Act). If you are processing personal information in South Africa, you need to be aware of POPIA and ensure you comply with it. One such compliance step is to ensure that your organisation's most valuable asset, its people, are trained and skilled on information m ...

May 16, 2022

Impact of technology on risk management for building projects

In Andersen in South Africa's segment of the webinar Director Keshia Manolios discusses legal aspects of data-centric construction workflows. Hosted by Baker Baynes this virtual event series explores the impact of BIM and technology on risk management for building projects.This series will include insight on legal considerations of BIM from Andersen in South Africa. In this first webinar, Henning Rassmus of Paragon Datascape and Paragon Africa will share an industry perspective based on his expe ...

Mar 31, 2022

Human biological specimens and POPIA

How medical institutions and research facilities should treat human biological specimens in light of POPIA: Part 2 In part 1 of this article series, we identified that human biological specimens can find application in terms of POPIA under certain circumstances. To the extent that human biological specimens do find application in terms of POPIA, it is important that medical institutions and medical research facilities who process human biological specimens do so in line with POPIA. The definiti ...

Mar 18, 2022

Does POPIA regulate DNA processing?

How medical institutions and research facilities should treat human biological specimens in light of POPIA: Part 1 With the enactment of the Protection of Personal Information Act 4 of 2013 (“POPIA”), a fundamental question is posed for medical institutions and medical research facilities in South Africa – does a human’s biological specimen fall within the scope and ambit of POPIA which requires such institutions and facilities to process such specimens in accordance with the principles of POPIA ...

Sep 14, 2021

POPIA versus the Companies Act

Who rules the roost on access to and protection of personal information relating to shareholders and directors? Section 26(1) of the Companies Act, 71 of 2008 (“Companies Act”), provides that – a person who holds or has a beneficial interest in any securities issued by a profit company, or who is a member of a non-profit company, has a right to inspect and copy the information contained in the records of the company and which information may include, inter alia, the company’s memorandum of incor ...

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