The General Laws (Anti-Money Laundering and Combating Terrorism Financing) Amendment Act 22 of 2022 introduced important changes to the Trust Property Control Act 57 of 1988, most notably the requirement for trusts to report on their beneficial ownership to the Master of the High Court. But what if the trust is dormant or has been deregistered? Is reporting still needed?
Recently, the Competition Tribunal (Tribunal) issued a ruling prohibiting the proposed transaction involving Vodacom (Pty) Ltd (“Vodacom”) and Business Venture Investments No 2213 (Pty) Ltd (“Maziv”). The proposed merger would have seen Vodacom, the country’s largest mobile operator, merge with Maziv, a significant player in fibre infrastructure. The ruling raises the question of how fine a line exists between competition and public interest in mergers.
An often-overlooked aspect of a sale of business, is the treatment of staff, with the financial objectives of the sale taking precedence. In this article, we look at the rights of employees and the importance of these rights being upheld during and post the transfer process to limit the employer’s liability to claims of unfair conduct.