by VDT Attorneys | Mar 6, 2023 | Amendment, Amendment Act, CIPC, Company, Compliance, Money Laundering
If one considers the new General Laws (Anti-Money Laundering and Combatting of Terrorism Financing) Amendment Act 22 of 2022 (“Amendment Act”) signed into law late in December 2022 and the measures aimed at South African companies, it can safely be deduced that our...
by VDT Attorneys | Feb 28, 2023 | Amendment Act, Companies Act, Company, Compliance, Corporate, Grey listing, Money Laundering, Trust
The Financial Action Task Force (“FATF”) periodically assesses nations and the effectiveness of their financial intelligence regulatory frameworks and controls to prevent money laundering, the illicit flow of money and terrorism financing. When serious deficiencies in...
by VDT Attorneys | Feb 27, 2023 | Amendment Act, Beneficial Ownership, Company, Compliance, Fines, Money Laundering, Trust
In South Africa, trusts are regulated in terms of our common law and the Trust Property Control Act 57 of 1988 (“Trust Act”). The Trust Act regulates the administrative aspects of trusts and is the primary statute that governs trust law in South Africa. But why the...
by VDT Attorneys | Feb 21, 2023 | Amendment Act, Company, Compliance, Fines, Money Laundering
We will over the next few weeks, in a series of articles, unpack each of the major changes and their respective implications, commencing with this overview article addressing the reasons for the amendments and the main areas of law affected. South Africa’s anti-money...
by VDT Attorneys | Feb 8, 2022 | Business, Companies Act, Company, Corporate, Director
As a director of a company, you have certain fiduciary responsibilities towards the company, which includes disclosing financial interests that may have a bearing on your position as director. In this regard section 75 of the Companies Act 71 of 2008 (“Act”)...
by VDT Attorneys | Dec 14, 2021 | Commercial, Company, Corporate
Yes, there are new changes being proposed to the Companies Act. On 1 October 2021 the Companies Amendment Bill, 2021 (“Bill”) was published for comment. It is explained that the Bill aims to address some of the administrative bottlenecks identified since the advent of...
