With Group firms spending in excess of R270 million on BEE and transformation during 2016 and 2017, this Group Transformation Report for the periods 2016 and 2017, confirms the substantial progress being made across the Group in advancing transformation and shows how the Group sets the standard for transformation in the legal industry.
Please click on the link above to view the Group Transformation Report for 2016/17.
The South African legislative framework regards backdated shares as a suspicious and illegal practice, as it arises when a share issue or transfer is recorded as having occurred on an earlier date than the actual transaction. While backdating may be viewed as an administrative oversight, the consequences may constitute compliance risk, serious misconduct on directors, beneficial owners and compliance officers who authorise the backdating of share transactions. This is because backdated shares may manipulate the timing of funds, obscure the source of funds, and distort a company’s beneficial ownership structure.
Some deals come with hidden reporting duties. Find out when your transactions could trigger SARS disclosure rules, and how to stay compliant. You may have heard the term “reportable arrangement” in tax conversations around commercial transactions. It sounds technical, and it is, but at its core, it’s about transparency. The South African Revenue Service (“SARS”) seeks information on certain transactions that could be used to avoid or reduce tax. If you enter a reportable arrangement, you may be legally required to report it. Failure to comply can result in significant penalties.
As Black Friday specials and festive-season sales saturate the market, retailers compete with promises of “unbeatable” discounts and “blink-and-you-miss-it” deals. But even in the frenzy, the Consumer Protection Act 68 of 2008 (the “CPA”) still applies. Designed to curb deceptive advertising, ensure fair pricing, and guarantee that goods remain of acceptable quality, the CPA sets the rules of the game. Understanding these rights is essential for both suppliers and shoppers, helping prevent year-end discounts from turning into disputes.