Publications

Brief overview of consumer rights in terms of the Consumer Protection Act

From 01 April 2011 all the provisions of the Consumer Protection Act, 2008 No. 68 of 2008 and the Regulations (“the Act”) will apply. Some sections like the section regarding product liability have applied since 24 April 2010. The Act applies to every transaction regarding the supply of goods and services in South Africa or the promotion (i.e. advertisement) of such goods and services. Continue reading “Brief overview of consumer rights in terms of the Consumer Protection Act” »

The right to return Goods in terms of the Consumer Protection Act

 In terms of the Consumer Protection Act a Consumer may request/ be entitled to: a refund; return purchased goods; be entitled to have goods repaired; and/or have the goods replaced. Continue reading “The right to return Goods in terms of the Consumer Protection Act” »

New Companies Act implementation scheduled for 1 April 2011 delayed

The new Companies Act will not be implemented today. The past few days were a rollercoaster of discussions and speculations of whether the Act will be implemented or not. My impression is that I am not happy that it is not implemented today. The first complete Companies Bill was published on 11 June 2007, almost 4 years ago. Subsequent amendments and regulations were published which were necessary. The amendments were to a large extend cosmetic. Continue reading “New Companies Act implementation scheduled for 1 April 2011 delayed” »

INCOTERMS 2010 yet another step in the right direction for global trade

With an estimated 6700 languages, 196 countries, 14 common law systems which have been further developed and applied by each country, it is almost unthinkable to negotiate contracts, with all these obstructions. Misunderstandings, local practices, different cultural orientation, illegal terms can lead to losses and deadlines being missed. In International Trade there is usually a series of contracts, the purchase agreement, supply agreements, freight agreements and distributing agreements. Continue reading “INCOTERMS 2010 yet another step in the right direction for global trade” »

Its the final countdown to the new Companies Act and the new Consumer Protection Act

It is now a matter of days before a new era of company regulation and consumer affairs regulation starts. It is very exiting times for South African citizens. It will bring us on par with legislative and policy development of the developed world. It’s also an era of the proper regulation and enforcement of this legislation. As with any new business the new commissions will probably be off to a slow start but will certainly get momentum very soon. Continue reading “Its the final countdown to the new Companies Act and the new Consumer Protection Act” »

Further Success

During the month of January 2011, we advised our clients on the following matters:  on the purchasing of minority shareholders’ shares in a Company; non-resident Companies on their responsibilities as Directors of a South African Company and the impact on responsibilities in terms of the New Companies Act; a merger of two IT Companies; non-resident Company on an acquisition of shares in multiple South African Companies, valued at R 60 000 000 on numerous matters regarding the Consumer Protection Act; on the restructuring of debt facilities, valued at R 750 000 000 Continue reading “Further Success” »

Protect the most important thing “that what’s make your business successful”

Information is power.If all the businesses had the x factor (the information advantage), all business would be successful, but this is certainly not the case. Business is successful for various reasons, visionary leadership, strategic assets, low prices, expertise or a combination of the above and in some instances the information, secrets, intellectual property, know how, and data gives the edge. Continue reading “Protect the most important thing “that what’s make your business successful”” »

What you need to do to ensure compliance with the Consumer Protection Act

The Consumer Protection Act governs almost all sales of goods transactions and the delivery of services, which occur in South Africa where small corporate and individuals are the consumer. Therefore almost all retailer businesses, suppliers, manufacturers, professionals is effected, some more than others though.What you need to do:  Continue reading “What you need to do to ensure compliance with the Consumer Protection Act” »

“Solvency and Liquidity” test in terms of the new Companies Act

Section 22 (1) (b) of the Companies Act 2008 prohibits a company from trading in insolvent circumstances.The transactions that will require that the solvency and liquidity test be satisfied include: Continue reading ““Solvency and Liquidity” test in terms of the new Companies Act” »

Shares and the new Companies Act 2008

A share is incorporeal moveable property and is a measure of a shareholders’ interest in a company.A share is defined in the new Act as one of the units into which the proprietary interest in a profit company is divided. In Borland’s Trustee v Steel Brothers and Company Ltd (1901) 1 Ch 279 the court described a share as follows “an interest of a shareholder in the company measured by a sum of money, for the purpose of liability in the first place, and of interest in the second, but also consisting of a series of mutual covenants entered into by all the shareholders inter se.” In terms of the 1973 Companies Act, the share capital of a company may be divided into shares having a par value or no par value, provided that all the ordinary shares or preference shares consist of either one or the other but not both. Continue reading “Shares and the new Companies Act 2008” »