The Memorandum of Incorporation (MOI) is a cornerstone document for any company, laying out the rights, responsibilities and duties of shareholders and directors. It is obligatory that every company has an MOI filed with the Companies and Intellectual Property Commission (CIPC) and it is available for public viewing at a small fee.
In a recent decision by the Advertising Regulatory Board against FlySafair, the board found that compliance with COVID-19 regulations extends to 'make-believe' marketing initiatives such as advertisements or commercials. The COVID-19 pandemic has had a devastating impact on many businesses, which have been irreparably harmed by the lockdown restrictions.
We have noted the ruling by the Supreme Court of Appeal (SCA) that declared the PPPFA Regulations of 2017 invalid and confirm that the ruling has no effect on the B-BBEE Act, as amended, and its requirements. The B-BBEE Act permits organs of state or public entities to set B-BBEE qualification criteria for procurement and other economic activities and to exceed the criteria set in the Codes of Good Practice through section 9 (6) of the B-BBEE Act.
The Economic Regulation of Transport Bill (B1-2020) published for public comment is problematic across three broad areas. It unnecessarily and unjustifiably expands the extent and potential scope of government interference in the transport sector; like much other legislation it vests executive officials, primarily here the Minister of Transport and the proposed Regulator, with discretionary powers that are not restrained by any objective guiding criteria; and it is clearly aimed at centralising governmental power away from civil society and independent institutions into the hands of the Department of Transport and its Minister. Also, it contains vague provisions that do not meet the requisite quality of legislative drafting.
An employer cannot unilaterally change an employee’s retirement age. Should the employer do so and terminate the employee’s employment, the dismissal may constitute an automatically unfair dismissal and amount to unfair discrimination.
The Labour Court in a recent judgment, Mthobisi Mthimkhulu v Standard Bank of South Africa (J928/20) (18 September 2020) considered whether an employee who has been found guilty of serious misconduct can avoid the ultimate sanction of dismissal by resigning before the employer imposes the sanction.
You’ve made the effort to get an executable will in place, but are you all sorted in terms of knowing who will get what? Not necessarily. Unfortunately, it’s not that clear cut. Many of us confuse how our assets will be distributed through our will, with the distribution of death benefits from our company sponsored retirement fund – often assuming that our death benefits fall within the scope of our will. But the two are treated very differently when we die.
While we will all face the inevitability of death one day, many of us find it scary to confront our own mortality. But good estate planning is a critical aspect of broader financial planning; without it, our dependants may be left in a precarious financial position.
Recently, the importance of proper estate planning and specifically the importance of having a valid and up-to-date Will, has gained some attention. What is often not addressed is the unique estate planning needs of consumers at the various stages in their lives, such as retirement.
This article is based on the Court case (330/2019)  ZASCA 34 (03 April 2020). The taxpayer was engaged in the importation, manufacturing and distribution of alcoholic beverages. The taxpayer entered into an agreement with foreign brand owners for the advertising and promotion of their alcoholic products in South Africa.