Tag: Memorandum of Incorporation (MOI)

On 27 December 2024, certain sections proposed in the Companies Amendment Act 16 of 2024 and the entire Companies Second Amendment Act 17 of 2024 became effective. In our publication, Overview of the 2024 amendments to the Companies Act 71 of 2008 for Audit Committees and Financial Management, we provide a summary of the key changes now in effect.

In the same way that prenuptial agreements are considered a necessity for many marriages, business partnerships require meticulous planning to safeguard against the consequences of potential disputes and ensure a smooth separation if the need arises. By incorporating comprehensive shareholder agreements or Memorandums of Incorporation (MOIs), businesses can protect their interests and foster fair and equitable outcomes during unforeseen conflicts.

In the 2013 Report on the Observance of Standards and Codes (ROSC Report), one of the recommendations provided was the need for South Africa to consider enacting a law that would allow audit firms to organise as limited liability partnerships (LLPs).

As far back as 2018, Harvard Business Review (HBR) raised the question: how is artificial intelligence (AI) changing contracts? Five years may not fit the criteria of “long-term”, but with the pace at which technology is evolving, it might as well be decades. As remains the case today, HBR cited efficiency as a key driver for the growth of AI in contracting.

The Broad-Based Black Economic Empowerment Commission (B-BBEE Commission) has published a notice explaining how a complaint about fronting may be lodged and how it will respond. The B-BBEE Commission recently published an explanatory notice on its fronting investigations. It may investigate fronting on its own initiative or as a result of complaints received.

Family-owned businesses make up a significant portion of all businesses registered and operating in South Africa. In fact, family-owned businesses are today recognised as vital participants in, and contributors to, the country’s economy.

The removal of a director, by way of the shareholders’ inherent right to do so by an ordinary resolution, (section 71 of the Companies Act 2008) is the typical initial go-to remedy when a breakdown in the relationship amongst shareholders and directors arise.

The Advertising Regulatory Board (ARB) is filing an appeal against a High Court ruling that has implications for the Board’s ability to promote responsible advertising and protect vulnerable groups. For years, many of our clients have turned to the widely accredited Code of Advertising Practice (the Code) to enforce their rights, especially when other available legislation, including common law rights, the Trade Marks Act and/or Copyright Act, are not able to provide appropriate relief.

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.

On Tuesday 29 October 2019, the South African Minister of Public Enterprises, Pravin Gordhan, released, and held a media briefing on, a special paper entitled 'Roadmap for Eskom in a Reformed Electricity Supply Industry, 2019' (the Roadmap). The Roadmap highlights the issues that Eskom is currently facing and then sets out the government's plan to address them.