by VDT Attorneys | Oct 4, 2018 | Commercial, Company, Corporate, Director
A company is a reliable and well known vehicle to use for a business. That said, many company directors are not always aware of the nature and scope of their duties as directors and their liability should these duties not be complied with. A director of a company is a...
by VDT Attorneys | Sep 10, 2018 | Commercial, Company, Financial
To answer your question, one must look at what the Companies Act 71 of 2008 (“Companies Act“) determines in respect of auditing and accounting requirements for a private company like yours. Unlike the previous Companies Act of 1973 which required all companies to be...
by VDT Attorneys | Aug 8, 2018 | Company, Procurement
In a very similar set of facts our High Court recently had to consider whether a municipality could provide an extension of time for an appeal to a party beyond the 21 day time period allowed for by the Municipal Systems Act 32 of 2000 which regulates the conduct of...
by VDT Attorneys | Aug 8, 2018 | Business, Business Rescue, Commercial, Company, Director, Insolvency, Shares
The short answer to this question is no. Your company creditors should not be able to come after you personally. But, this is a qualified no. At the core of our company law is the concept of limited liability which implies that the shareholders and directors of the...
by VDT Attorneys | Aug 8, 2018 | BEE, Commercial, Company, Compliance
Since the Amended Codes of Good Practice for BEE (“BEE Codes”) came into operation about three years ago, many larger companies have found it increasingly difficult to comply with the elevated targets set for them under the Procurement element of their BEE scorecard....
by VDT Attorneys | Jul 12, 2018 | Commercial, Company, Corporate, Investment, Tax
A venture capital company or “VCC”, although receiving market interest of late, is not a new thing and was introduced in 2009 as section 12J of the Income Tax Act 58 of 1962 (the “Act”). The VCC forms part of Government’s philosophy of expanding economic growth...
