News & Articles
New advertising rules for crypto providers aim to protect consumers
The continuing fascination with cryptocurrencies and the use of cryptocurrency as a legitimate payment medium and investment asset has given rise to loads of crypto providers claiming big returns. Unfortunately, many of the claims made are wildly exaggerated and fail to properly highlight the risks involved in cryptocurrencies. Such uncontrolled advertising has necessitated new advertising rules in respect of crypto advertising.
Can you be fired if artificial intelligence can do your job?
Social media has been flooded with chatter about the chatbot phenomenon ChatGPT which seems destined to be able to, if not far better do, what humans can! So, what does this mean for employees? Can you be replaced by a bot like ChatGPT? In this article, we take a closer look at what this could mean for employees in the not-so-distant future.
New disclosure requirements for companies. Comply or risk being deregistered!
It is no secret that companies are used as vehicles to hide money laundering and terrorist financing activities. Internationally, this has necessitated increasing corporate disclosure requirements to apply to corporate entities. With the new Amendment Act, such disclosure requirements have now also found their way into our law to allow authorities to have a better view of who the beneficial owners are that own and control a company.
We do not wish to marry; how do we regulate our relationship?
“South Africans are losing interest in marriage”, this is the essence of the recent study done by Stats SA on the number of marriages and divorces being concluded by South Africans over the last ten years.
Companies take note of new beneficial ownership reporting requirements
You only need to watch a movie or series about drug trafficking, terrorism or even cyber hackers to associate criminal activities with the use of ‘shelf’ companies, ‘offshore’ companies or some or other form of corporate entity through which clever criminals’ squirrel away their ill-gotten gains out of sight and touch from authorities. But is this all just cliched stereotyping of the poor corporate entity form or are companies really being used and abused by criminals.
How enforceable are penalties levied for failing to build your house in an estate?
Every now and then we get a call from a perturbed client who has just received a sizable penalty on his monthly levy account from his body corporate or homeowner’s association for failing to have started/completed (this can vary) the building of a house on their estate erf. The demand is to know whether this penalty is enforceable and fair.
Alert: South Africa’s grey listing means extensive new compliance requirements!
The announcement on Friday that South Africa has been grey listed has come as a shock to many South Africans blissfully unaware of this sword hanging over our heads. For those in the know, grey listing has been unavoidable given the damning reports levelled against weaknesses in our money laundering and financial control framework. But besides hurting our economy the grey listing has also forced government to introduce stricter control measures to correct the shortcomings and hopefully have the grey listing removed over time. And these control measures will affect all businesses and individuals in some way or another.
Prescription and claims against organs of state
Claims against the state may arise from several causes of action. Important to remember though is that claims against organs of state are also subject to prescription, and care should be taken to not let your claim prescribe. In this article, we examine the current legal position in respect of prescription and claims against the state.
‘Baked’ at work? What can happen?
Recently a client approached us with a concern arising from the well-known Minister of Justice and Constitutional Development & Others v Prince & Others case wherein the use, cultivation and possession of marijuana were decriminalised. Our client was concerned that employees were arriving at work under the influence of cannabis claiming that they are now constitutionally allowed to use cannabis and that as an employer he could do nothing about it. Is this so, and did the Prince case in effect also legalise the use of cannabis at the workplace?
BEE and the new Preferential Procurement Regulations
Following the Constitutional Court judgment in February 2022 where the 2017 Preferential Procurement Regulations were declared invalid, there has been a misconception that this court decision has resulted in the wholesale scrapping of BEE when it comes to public procurement. Now with the new Preferential Procurement Regulations taking effect as of 16 January 2023, many tenderers are unsure of the extent to which BEE will still apply in public procurement.
Don’t get caught napping with a time-bar clause in your construction contract
Clients are often surprised when they discover clauses in their construction contract that requires them to give notice to the building contractor, usually within very short periods of time, of their intention to dispute a set of circumstances, failing which, they lose their right to refer such a dispute for dispute resolution. This then raises the question of why these clauses are present and how enforceable they are.
Terminating a contract – beware of the fine print!
In the world of contracts, the concluding of a contract is only the beginning of the process. Managing a contract to conclusion, including navigating all the pitfalls along the way, is just as big a part of the overall success of a contract. In this article we will explore the importance of correctly terminating a contract, as, let’s face it, things don’t always go to plan and you may need to climb out of a bad contract situation.
Trustees beware! You can now be fined and jailed!
Trusts have for some time now been the target of criticism for their alleged use and abuse in the money laundering environment. The latest challenge to the trust comes in the form of a major amendment to South Africa’s anti-money laundering framework by the General Laws (Anti-Money Laundering and Combatting Terrorism Financing) Amendment Act 22 of 2022 (“Amendment Act”) which holds serious implications for trusts and trustees. In this article we will focus specifically on how the trust form is abused and how the Amendment Act aims to curb such abuse.
New anti-money laundering amendment legislation to affect companies and trusts
Major amendments to South Africa’s anti-money laundering framework have almost unnoticed introduced serious changes to the trust and company law environment, including the addition of hefty fines and jailtime for trustees! So, although these changes have been aimed at the fight against money laundering and terrorism, the real impact of the amendments will be far wider.
New notification requirements for small business mergers
“New guidelines for small merger notification have been issued by the Competition Commission and businesses should take note of these when considering any mergers or acquisitions in the coming year. In this article, we look at the main aspects of these new guidelines.”
Is an agreement between spouses contrary to the ANC valid?
“Can spouses conclude an agreement which is contrary to their antenuptial contract and which is valid and enforceable?”
Can an employer dock an employee’s salary due to loadshedding?
“With loadshedding woes affecting all businesses and causing widescale disruption to work hours, employers have started asking whether they can dock employee pay if employees are not able to work as a result of loadshedding. In this article, we unpack this question and give guidance on the legal position.”
Greater consumer protection when dealing with crypto assets
“When dealing with crypto assets, a question that arises without fail is whether crypto assets are regulated in South Africa and to what extent a consumer has any protection when buying crypto assets.”
Who may access the financial statements of a private company?
“It is often thought that the financial statements of a private company are like the name implies ‘private’. But how private is this private and who has a right of access to such financial information?”
By when do you need to obtain an Energy Performance Certificate for your building?
“Clients are suddenly contacting us to ask about the need to get an Energy Performance Certificate and whether it is mandatory for all building owners and by when they need to have it in place.”
Are you a divorced or separated parent during Christmas? Navigate the festive season with a parenting plan.
Who gets the kids on which days? Will I be able to take my child to my family in a different province or country for the festive season? To what extent is my child allowed to spend time with me at my place of residence?
Can you be dismissed for not returning to the office post Covid-19
“For many home owners, the economic pinch is an everyday reality. Add to this rising interest rates which in turn push up monthly bond payments, and you may easily find yourself in trouble with making your monthly payment. Beware the danger as you can end up losing your home if you don’t take steps to remedy the situation.”
Why you must have an independent trustee on your family trust
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.”
Can you be dismissed for not returning to the office post Covid-19
With the national Covid-19 lockdown slowly becoming a thing of the past, many employers have asked employees to return to the office, full time or on a hybrid basis. But, employees have become used to working from home and some don’t want to return to the office. What happens if an employee refuses to return to the office and offers to continue to work from home?
Can illegal foreigners claim from the RAF after a car accident
“Can foreigners who travel in South Africa and are involved in a motor vehicle collision claim from the Road Accident Fund if they cannot show that they are legally in the country?”
Constitutional Court declares Copyright Act unconstitutional
Does copyright protection prohibit the distribution of works in formats that are accessible to people with print and visual impairments? Our Constitutional Court had occasion to consider this important question in the recent judgment of Blind SA v Minister of Trade, Industry and Competition and Others.
The B-BBEE Commission’s view on the pace of transformation
“What should businesses take note of in the recently released National Status and Trends on B-BBEE Transformation Report (Transformation Report) released by the B-BBEE Commission in July 2022?”
Don’t lose your title deed!
“For home owners it is often an important milestone the day they have paid of their bond. This is followed by the bank releasing the title deed to the owner. But what happens when the owner wants to sell the property but cannot find the original title deed the bank gave back.”
Do organs of state also have to undergo BEE verification?
“Private sector B-BBEE scorecards and compliance has become a generally understood phenomenon, but what is the position in respect of organs of state. Must they also be B-BBEE compliant and are they measured in the same way as private entities?”
Health and safety and the employer
“Are you an employer? If so, do you know what responsibilities you hold for the health and safety of your employees?”