Judge Salie-Hlophe recently delivered a somewhat moot judgement in the unreported decision of Johannes Jacobus Pretorius & 1 Other v Steven Edward Timcke & 3 Others, Case number 15479/2014, in the Western Cape High Court (the Pretorius decision).
Notwithstanding the enactment of the new Companies Act (71 of 2008) (the New Act), it is often found in legal practice that some practitioners still make use of the concepts "share capital", "issued share capital" and "authorised share capital" when drafting legal documents.
There is an old-school perception held by the modern day shareholder in relation to the rights attached to the larger than life title of "shareholder of a company". These shareholders are often disgruntled when they realise that their shareholding is not all that they expect.
The Supreme Court of Appeal in EB Steam Company (Pty) Ltd v Eskom Holdings Soc Ltd 2015 (2) SA 526 (EB Steam) had to consider what amounts to proper service on employees of a company in terms of s346(4A) of the Companies Act (61 of 1973) (the 1973 Act). The court made it clear that the provisions of s346(4A) are peremptory and if the applicant fails to comply with the provision the court will not grant a final winding-up order.
There are several options for assisting a company that is in financial distress. This article will attempt to explain the interplay between the different processes.
It is uncertain whether or not South African resident multinational corporate taxpayers will welcome the recent proposed amendments to the Income Tax Act (58 of 1962). The proposed amendments, as detailed in the 2015 Draft Taxation Laws Amendment Bill, published for public comment on 22 July 2015, seek to retrospectively reverse a 2013 amendment to the Act that has resulted in several commercial challenges in respect of transactions involving tax free corporate migrations.
In fulfilment of its mandate to give effect to the Constitutional right to an environment that is protected and not harmful to one's health or well-being, the South African government has promulgated a plethora of environmental legislation. However, the effectiveness of this comprehensive legislative framework is compromised by ineffective compliance and monitoring. This is highlighted where local authorities seemingly ignore environmental legislation, as was recently demonstrated by the construction of a pipeline by the Metsimaholo Local Municipality, which was intended to discharge effluent from the Refengkotso sewage treatment plant into the Vaal Dam.
The consequences of failing to comply with the Broad-Based Socio Economic Empowerment Charter for the South African Mining and Minerals Industry as amended are generally unclear. Most commentators in the mining industry are divided on whether a right granted in terms of the Mineral and Petroleum Resources Development Act, 2002 (MPRDA) can be revoked for non-compliance with the Charter. If the proposed amendments to the MPRDA, contained in the Mineral and Petroleum Resources Development Act Amendment Bill, 2013 are anything to go by, it would seem the Department of Mineral Resources (DMR) is also doubtful about the matter.
In Mawetse SA Mining Corporation (Pty) Ltd v Minister of Mineral Resources and Others (3081/12)  ZAGPPHC 11, the Supreme Court of Appeal (SCA) recently ruled on the calculation of the period for which a prospecting right endures. The SCA held that the duration should be calculated from the date on which the applicant was informed that the right has been granted (upon receipt of the grant letter) and not from the date of the notarial execution of the prospecting right or the date on which the environmental management plan was approved (if that date differed to the date of grant).
2008 ushered in a new era for South Africans with the introduction of a new word to the vocabulary, the dreaded "load shedding". While the shock of the introduction of load shedding was relatively short lived, the reality and its implications were reinforced in 2014, when it became clear that the measures that had been taken since 2008 to "keep the lights on" had in fact had damaging long term effects to the electricity situation in the country.
Cable theft in South Africa is a major problem in rural and urban areas alike, causing enormous danger from exposed wires, not to mention high replacement costs. And now it would appear that the practice of stealing cables is among South Africa's less worthy exports.
In April and May 2015 after King Goodwill Zwelithini allegedly made alarming statements insinuating that foreigners are a burden on South Africa and do not belong here. Eight people were killed in a wave of xenophobic violence, hundreds of Malawians were repatriated in fear of further attack and 421 Zimbabweans were deported in the aftermath.