Ethics – A rare commodity

“A man without ethics is a wild beast loosed upon this world” – Albert Camus Based on the recent events in South Africa, ethics should be a buzzword you are quite familiar with. South Africa, specifically the audit industry, has been rocked by two major scandals in the recent past, which was both caused by the same root problem – …

Electronic signing of documentation

The commercial world is currently moving to greater levels of digitisation. Organisations are implementing automated and electronic solutions in an effort to improve efficiency and better the environmental footprint at the same time. The move to digitisation and electronic signatures prompted questions surrounding the legality of these documents. This article aims to highlight certain legal aspects of electronic signatures in …

The Competition Commission: Play fair or else

There has been a lot of activity in the commercial sector regarding unfair behaviour according to the Competition Commission. Claims arose that retail giants blocked rivals by means of exclusive mall leases, which essentially impedes competition by preventing smaller operators from entering the market. A complaint also arose that Ster-Kinekor and Nu Metro engaged in market allocation with regards to lease …

How does the Budget Speech affect you, your property transactions and your estate?

On 21 February 2018, Finance Minister Malusi Gigaba delivered his 2018 Budget Speech.Hereby a summary of the most significant proposals for the 2018/2019 Budget as tabled by the Minister of Finance: 2018/2019 Tax Proposals:  VAT: A one percentage point (1%) increase in VAT from 14% to 15%. No adjustments to the top four income tax brackets. Below inflation adjustments to …

How to register a new company

The basic steps to register a company under the Companies Act of 2008 at the Companies and Intellectual Property Commission (CIPC) involves certain forms and supporting documentation that must be lodged and the accompanied fees paid. The steps The first step in registering a new company is optional. A CoR9.1 form must be completed and lodged with the CIPC in …

Is your business legally compliant?

Compliance refers to a company obeying all of the legal laws and regulations regarding how they manage the business, their staff, and their treatment towards their consumers. The point of compliance is to make sure that corporations act responsibly. Is compliance for every business the same? Certain businesses may be required by law to register with an industry association. For …

Do restraint of trade agreements work?

A restraint of trade is an agreement between an employer and an employee, or a provision in an employment contract that restricts an employee from being employed by a competitor of the employer, or establishing a business in competition with the employer following termination of employment. TIBMS (Pty) Ltd t/a Halo Underground Lighting Systems v Knight and Another In a …

Is your business being liquidated?

Many businesses fail and consequently have to face financial crises that few recover from and in most instances, results in business owners shutting doors for good. If your business has no assets or liabilities, the more simpler process of deregistration takes place. The liquidation process needs to be followed if your business has assets, liabilities or both. The Liquidation of …

GEARING UP FOR POPI COMPLIANCE

The Protection of Personal Information (POPI) Act will soon be tabled in parliament. The POPI Act outlines how companies may collect, handle, store and discard the personal information of others. The new regulations come with heavy penalties for those that fail to comply. POPI can only commence once the Information Regulator is operational. Once the commencement date of the Act …