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The Companies Amendment Act puts directors in the hot seat

03 October 2024

Recent amendments to the Companies Act—through the Companies Amendment Act 16 of 2024 and Companies Amendment Act 17 of 2024... (collectively referred to as the “Amendment Acts”)—introduce a host of changes that all directors need to be aware of. This article offers an overview of the significant updates to the Act.  

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27
Article

Merging the pieces when transactions become indivisible

03 October 2024

On 28 June 2024, the Competition Commission published Draft Guidelines under section 79(1) of the Competition Act to address its... approach towards 'indivisible transactions.' These guidelines are aimed at providing clarity on how multiple transactions can be evaluated as a single merger filing. In this article, we explore the key elements of the Draft Guidelines and the rationale behind their publication, offering insight into their potential impact on merger control in South Africa. 

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21
Article

Piecing together the puzzle of cross-border cases

03 October 2024

In July 2024 the Supreme Court of Appeal (SCA) handed down a judgment that confirmed the requirements for when and... where South African Courts can hear cases involving foreign companies and what the requirements are for our courts to have jurisdiction in cases involving online publications by such foreign companies. 

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22
Article

Navigating the legal blueprint for property expansions

03 October 2024

Building a second dwelling on your property offers an excellent opportunity to generate extra income, whether by creating a bed... and breakfast, guest house, holiday rental, or long-term rental property. However, it's not as simple as 'build it and they will come.' There are important legal and compliance requirements that must be considered before you venture into such a development. 

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20
Article

The Two-Pot Pension System and divorce

03 October 2024

The new Pension Funds Amendment Act 31 of 2024 (“PFAA”) that was recently signed into law not only introduces far-reaching... consequences in respect of pension funds but also impacts the position of pension interest and divorce. In this article, we look at some of the key impact areas of the PFAA in respect of divorce. 

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17
Article

Trustee administrative duties under the spotlight

03 September 2024

With new reporting obligations on trustees and SARS intensifying its submission requirements in respect of trust tax returns, no trustee... can afford to ignore the administrative duties imposed upon them in terms of common law and statutory law. In this article we briefly list some of the main administrative duties falling to any trustee.

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54
Article

Don’t gamble with banking details via email

03 September 2024

Electronic invoices and banking details received via email are commonplace. Do you confirm banking details by telephone? Do you double-check... for changed account details? Are you wary of suspicious activity? For many, ignorance is bliss, with invoice and banking details taken at face value and payment made without thought to the potential cybercriminal lurking in the shadows. If this is you, read on about the dire consequences that could follow from such ignorance. 

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297
Article

The implications of a waiver of rights by directors

02 September 2024

The Supreme Court of Appeal (“SCA”) recently handed down a judgement in what has been cited as a ‘landmark case’... in respect of the waiver of directors’ rights and the impact of such waiver on a company. In this article, we look at what a ‘waiver’ of rights in terms of a contract entails and what the effect of such a waiver by directors may have on a company, specifically concerning debts owed to the company.

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56
Article

The Companies Amendment Act puts directors in the hot seat

03 October 2024

Recent amendments to the Companies Act—through the Companies Amendment Act 16 of 2024 and Companies Amendment Act 17 of 2024... (collectively referred to as the “Amendment Acts”)—introduce a host of changes that all directors need to be aware of. This article offers an overview of the significant updates to the Act.  

READ MORE
27
Article

Merging the pieces when transactions become indivisible

03 October 2024

On 28 June 2024, the Competition Commission published Draft Guidelines under section 79(1) of the Competition Act to address its... approach towards 'indivisible transactions.' These guidelines are aimed at providing clarity on how multiple transactions can be evaluated as a single merger filing. In this article, we explore the key elements of the Draft Guidelines and the rationale behind their publication, offering insight into their potential impact on merger control in South Africa. 

READ MORE
21
Article

Piecing together the puzzle of cross-border cases

03 October 2024

In July 2024 the Supreme Court of Appeal (SCA) handed down a judgment that confirmed the requirements for when and... where South African Courts can hear cases involving foreign companies and what the requirements are for our courts to have jurisdiction in cases involving online publications by such foreign companies. 

READ MORE
22
Article

Navigating the legal blueprint for property expansions

03 October 2024

Building a second dwelling on your property offers an excellent opportunity to generate extra income, whether by creating a bed... and breakfast, guest house, holiday rental, or long-term rental property. However, it's not as simple as 'build it and they will come.' There are important legal and compliance requirements that must be considered before you venture into such a development. 

READ MORE
20
Article

The Two-Pot Pension System and divorce

03 October 2024

The new Pension Funds Amendment Act 31 of 2024 (“PFAA”) that was recently signed into law not only introduces far-reaching... consequences in respect of pension funds but also impacts the position of pension interest and divorce. In this article, we look at some of the key impact areas of the PFAA in respect of divorce. 

READ MORE
17
Article

Trustee administrative duties under the spotlight

03 September 2024

With new reporting obligations on trustees and SARS intensifying its submission requirements in respect of trust tax returns, no trustee... can afford to ignore the administrative duties imposed upon them in terms of common law and statutory law. In this article we briefly list some of the main administrative duties falling to any trustee.

READ MORE
54
Article

Don’t gamble with banking details via email

03 September 2024

Electronic invoices and banking details received via email are commonplace. Do you confirm banking details by telephone? Do you double-check... for changed account details? Are you wary of suspicious activity? For many, ignorance is bliss, with invoice and banking details taken at face value and payment made without thought to the potential cybercriminal lurking in the shadows. If this is you, read on about the dire consequences that could follow from such ignorance. 

READ MORE
297
Article

The implications of a waiver of rights by directors

02 September 2024

The Supreme Court of Appeal (“SCA”) recently handed down a judgement in what has been cited as a ‘landmark case’... in respect of the waiver of directors’ rights and the impact of such waiver on a company. In this article, we look at what a ‘waiver’ of rights in terms of a contract entails and what the effect of such a waiver by directors may have on a company, specifically concerning debts owed to the company.

READ MORE
56
Article
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Filter: Trust
Trustee administrative duties under the spotlight

03 September 2024

With new reporting obligations on trustees and SARS intensifying its submission requirements in respect of trust tax returns, no trustee... can afford to ignore the administrative duties imposed upon them in terms of common law and statutory law. In this article we briefly list some of the main administrative duties falling to any trustee.

READ MORE
54
Article
Safeguarding your legacy for your children

26 March 2024

For any parent, the question of how to protect and provide for their children after their passing is a burning... concern that arises long before the first child is born. In this article, we explore how parents can safeguard their legacy for their children.

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940
Article
New CIPC changes for the filing of annual returns

15 January 2024

CIPC has again announced changes to the CIPC system for the filing of annual returns and beneficial ownership information, which... introduces mandatory obligations for companies and close corporations when filing their annual returns. 

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281
Article
Why you must have an independent trustee on your family trust

22 November 2022

A question often asked by clients is “why must I have an independent trustee on my family trust?” In this... article we unpack the reasons for this and how this works.

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952
Article
Will trust assets form part of your estate at divorce?

15 September 2022

Just before a couple married with the accrual system finalised their divorce, the husband created a trust and transferred money... and property to the trust. The result is the husband’s estate is considerably reduced when it comes to the accrual calculation. Is this acceptable and does it mean his estate is reduced, or can his wife claim that these assets transferred to a separate trust be included in the calculation?

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912
Article
DTI sheds light on collective enterprises

14 July 2021

I’ve taken over the management of a non-profit trust that is focused on the development of previously disadvantaged scholars based... in rural communities. Increasingly, companies that want to fund and work with us are asking us for a BEE certificate. However, our auditors have told us that it’s not so easy for a trust like ours to be rated as we don’t have named beneficiaries. Is this correct and what are our options?

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402
Article
Can adopted children benefit from a family trust?

14 June 2021

Sometime before his death, my father established a family trust which contained properties that were rented out to generate income... for my mother. In accordance with the trust deed however, once my mother dies, the income from the properties would go to the children of my mother and father. I have an adopted brother and 2 biological sisters. There is now a debate as to whether my adopted brother also qualifies to benefit from the family trust. What is the legal position?

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559
Article
Do trusts still have a role to play in estate planning?

16 October 2019

My wife is pregnant with our first child and I am considering whether to set up a family trust for... estate planning purposes. Lately however I have read negative commentary about using trusts, particularly anti-avoidance tax legislation aimed at trusts. I don’t want to start a family trust if it’s not going to be beneficial. What advice do you have in this regard?

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507
Article
Can the majority of trustees request a trustee to resign?

03 January 2019

I am a trustee on a family trust. I was recently informed by the other trustees that they are requesting... me to resign as trustee. They did not provide me with any reasons except to say that they are allowed to do this as the trust deed gives them such powers. Can they just do this?

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537
Article
When does my family trust terminate?

08 August 2018

I have established a family trust for estate planning purposes to make sure my children are looked after when I... pass away. I was wondering though if the trust can be terminated after my death, and if so, when? I wouldn’t like all my planning to be for nothing because the trust just ended.

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609
Article
What to do when the trustee claims he is not authorised

06 April 2018

My beach house is for sale. A few weeks ago, I received an offer from a trustee on behalf of... a property investment trust. I accepted the offer and the deed of sale was sent to the transferring attorneys. They have now called me and indicated that the investment trust claims that the trustee was not authorised to make the offer and that the trust is accordingly not bound thereto. Can the trustee and trust just evade responsibility like this?

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411
Article
Can a testamentary trust be changed later?

08 March 2018

My wife and I are discussing providing for the creation of a testamentary trust in our will to take care... of our minor children upon our untimely death. I’m worried though that if we establish a trust, it may be too rigid to deal with the changing circumstances of our children. Can the trust be changed after our death should it be necessary to do so?

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509
Article

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