The general effective date of the Companies Act, 2008 (“the New Act”) was 01 May 2011. The introduction of the New Act drastically changes the the company law landscape in South Africa.
Scope of Publication
The scope of this publication is to consider the effect that New Act will have on an pre-existing private company’s articles and memorandum of association, any rules (which includes any binding provisions relating to the governance of the company) and any shareholders agreement pertaining to such company.
The Effect of the New Companies Act
The effect the New Act will have with regards to the aforementioned scope of this publication may be depicted by the following diagram: