The new Pension Funds Amendment Act 31 of 2024 (“PFAA”) that was recently signed into law not only introduces far-reaching consequences in respect of pension funds but also impacts the position of pension interest and divorce. In this article, we look at some of the key impact areas of the PFAA in respect of divorce.
In the matter of IRD Global Limited v The Global Fund to Fight AIDS, Tuberculosis and Malaria (504/2023) [2024] ZASCA 109, the SCA reaffirmed what the requirements are for South African Courts to have the necessary jurisdiction to hear matters involving foreign companies and confirmed what would be required to establish jurisdiction when online publications are involved.
An exclusive use area can be defined as “a part or parts of the common property” in a scheme that is indicated on a sectional plan and designated for the exclusive use of an owner of a section. In simple terms, an exclusive use area refers to those portions in a scheme to which a certain owner has exclusive use rights, such as a garden, parking bay, or balcony. This is in contrast to common property, which is owned and shared by the body corporate.