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CAN AN UNSUCCESSFUL TENDERER CLAIM DAMAGES FOR LOSS OF PROFITS? The Supreme Court of Appeal had to recently consider whether an unsuccessful tenderer could claim damages for loss of profits as a result of an Organ of State’s breach of its constitutional duties. The tender concerned the award of a contract to a joint venture in […]
The Broad-Based Black Economic Empowerment Commission (the Commission) was established under section 13B of the Broad Based Black Economic Empowerment Act 53 of 2003, as amended (the B-BBEE Act) with effect from 24 October 2014. The Commission is empowered to investigate any matter concerning broad-based black economic empowerment (B-BBEE) and is required to keep […]
In the recent Companies Amendment Bill (Bill), several material changes to the Companies Act, 2008 (Act) were proposed. This circular discusses the key items. Submissions on the Bill will be accepted up until 20 November 2018 and we are available to make submissions on any aspect on your behalf. ACCESS TO INFORMATION Presently, members […]
On November 1 the King Committee and the Institute of Directors in Southern Africa published the King IV Report on Corporate Governance for South Africa (“King IV”). King IV was developed in response to international and local developments in corporate governance since 2009 when King III, its predecessor, was published. King IV replaces the King III […]
There has been a steady move to market goods and services online. Befire establishing an online presence, retailers should consider the laws regulating electronic transactions, consumer rights and data pretection to ensure that they are not exposed to unnecessary risks. Three key pieces of legislation that regulate online sales are the Electronic Communications and Transactions […]
The Companies Act provides minority shareholders with a right to apply to court for relief against conduct that is "oppressive, or unfairly prejudicial to, or unfairly disregards the interests" of the shareholders concerned. In a recent decision of the Supreme Court of Appeal (SCA), the court provided guidance on the application of this remedy. It […]
The Broad-Based Black Economic Empowerment Act 53 of 2003 (2003 Act) together with the generic codes of good practice and the sector codes, provide the legislative framework for Broad-Based Black Economic Empowerment (BEE) in South Africa. The Broad-Based Black Economic Empowerment Amendment Act, 46 of 2013 (the Amendment Act) which brings about significant changes to […]
Government is well under way in implementing its plan to “revamp” Broad-Based Black Economic Empowerment (BEE) in South Africa. The recent developments in BEE law are summarised below. EFFECTIVE DATE FOR BEE AMENDMENT ACT, 46 OF 2013 The Broad-Based Black Economic Empowerment Amendment Act, 46 of 2013 (the Amendment Act) which brings about significant changes […]
