by VDT Attorneys | Apr 22, 2024 | Corporate, Corporate structuring, Estate Planning, Tax, Trust
A trust is a unique legal entity created to hold assets for the benefit of its beneficiaries. Trustees are entrusted to manage the trust’s affairs in favour of the beneficiaries according to the provisions of the trust deed. As a separate legal entity distinct...
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 | Oct 20, 2022 | Black Economic Empowerment, Corporate, Mergers & Acquisitions
In terms of section 13F(1)(f) of the Broad-Based Black Economic Empowerment Act, 2003 as amended (“B-BBEE Act”), one of the functions of the Broad-Based Black Economic Empowerment Commission (“B-BBEE Commission”) is to receive and analyse major broad-based black...
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...
by VDT Attorneys | Sep 14, 2021 | Business, Company, Corporate, Shareholder
It is common practice for shareholders to appoint a proxy to represent them when they, as shareholders, are not available, able or inclined to attend a shareholders’ meeting themselves. On receiving notice of a shareholders meeting, a shareholder can then decide how...