There are some essential things you would need to know before you decide to. The companies act, 2008 the 2008 act provides that a companys memorandum of incorporation moi is subject to the 2008 act and must be consistent with its provisions. The act provides for two categories of companies, namely for profit and not for profit companies as follows. Although it is an entrenched principle of company law that the abuse of corporate personality may require the corporate veil of a company to. With acts you are guaranteed the latest and most up to date resource for your legislative needs. The index contains the latest amendments, list of all sections including sections which has not yet been notified, schedules, and rules made under the companies act, 20. The companies act 2008 does not define the meaning. A juristic person is incapable of exercising any such powers, or having any such capacity. The provisions of the act set the bar for competent directors at much higher levels than we have seen in the past. In terms of the new act, the companies act 1973 act 61 of 1973, as. The regulations, deal with the functions of the companies commission, takeover regulation panel and companies tribunal, and other matters relating to the regulation of companies, which will come into effect on 1 may 2011. Amendment of the companies act regulation, 2011 20 august 20companies act no 71 of 2008 maatskappywet no 71 van 2008 companies amendment act, no 3 of 2011 companies regulations, 2011 pages 1 107 companies regulations, 2011 pages 108 212 companies regulations, 2011 pages 2 320. The companies act 71 of 2008 the act was signed into law on 8 april 2011 and its commencement date was 1 may 2011.
The saica guide to the companies act 71 of 2008 has been released. If you intend to use workgroup functionality or share a database with more than 10 users, you must purchase act. Amendment of the companies act regulation, 2011 5 february 2014. Section 3 of the companies act 71 of 2008 and interruption. Jan 14, 2010 the companies act 2008 act 71 of 2008 the new act was promulgated on 9 april 2009 and will come into force on a date to be gazetted by the president, which date cannot be earlier than 9 april 2010. All first filing of memorandum of incorporations by preexisting companies within 2 years from effective date of the act, will be exempt from the filing fee. The companies act 2009 sierra leone legal information institute. Companies amendment act 3 of 2011 south african government. For guidance, the developers looked to south african company law for the 21st century. Alterable provisions in the companies act 2008 as at 1 may 2011 52011 list of alterable provisions in the companies act, 2008 1. Kigongo v mosa courts apartment ltd company cause no. Section 3 of the companies act 71 of 2008 and interruption of execution. Companies and allied matters act arrangement of sections part a companies part i corporate affairs commission section 1. Amendment of the companies act regulation, 2011 20 august 20companies act no 71 of 2008 maatskappywet no 71 van 2008 companies amendment act, no 3 of 2011 companies regulations, 2011 pages 1 107 companies regulations, 2011 pages 108 212 companies.
Companies act, 2012, 2012 uganda legal information institute. As from 1 april 2020 only fully automated services see notice 20 on the indicated channels that will be available to the publi. An act to consolidate and amend the law relating to companies. Schedule 5 of the act sets out the transitional arrangements, which are summarised as follows. A company has all the legal powers and capacity of an individual, except to the extent that. The new modus operandi of a company has to comply with the companies act 71 2008, the companies. Companies act 71 of 2008 english text signed by the president assented to. Companies and intellectual property commission republic of. A creditor had instituted litigation proceedings against company x and obtained a default judgment against it.
Part i interpretation interpretation 21in this act, a articles means the articles of association of a company, as originally framed or as altered by special resolution, and includes, so far as they apply to the company, the regulations made. Decisions that affect a company must be made by means of a formal resolution. Superiority ofact part ii incorporation and registration of companies 6. General application of act and preservation of rights of existing companies.
The act was signed by the president on 8 april 2009, but implementation was deferred to accommodate necessary amendments. Securities and exchange commission 17 cfr parts 239, 270, and. Board members are appointed to manage the funds of the company. Acts online provides legislation, including amendments and regulations, in an intuitive, online format. Companies act 2008 summary of transitional arrangement. Companies act 1993, as at 17 november 2019, printdownload pdf 2.
This guide includes information on matters that are practical and relevant to saica members and other individuals in business who engage with company law. Companies minority buyout rights amendment act 2008 2008 no 69. Guidelines for corporate law reform may 2004, a policy document developed by the department of trade and industry the dti. Companies amendment act 3 of 2011 act to provide for the incorporation, registration, organisation and management of companies, the capitalisation of profit companies, and the registration of offices of.
Ebook on companies act 20 in pdf april 2020 edition. To the extent that a provision of the moi contravenes or is inconsistent with the 2008 act, it is void section 151. This booklet provides insight into how creditors may. A company resolution, or corporate resolution, is a record of decisions made by the board membersdirectors or shareholders of a company. They also have the authority to pass resolutions from the company s memorandum of incorporation moi the rules of the company in terms of the companies act. Consider the following commonly encountered scenario.
Date title file name file size kb description hot fixes 08052009 act. Alpena power company consumers energy company with public act. The new companies act is now operative schoemanlaw inc. After much anticipation, the 1 may 2011 saw the companies act 71 of 2008 come into operation. Numbered acts adjustments appropriation act, 2008 no. Moi companies and intellectual property commission cipc. Amendment of the companies act regulation 5 february 2014, download pdf. Copyright ministry of legal affairs, government of the republic of zambia division 14. To send me a private message, click my user name on the left, then send this user a private message on the right.
Companies and intellectual property commission republic of south africa this form is prescribed by the minister of trade and industry in terms of section 223 of the companies act, 2008 act no. This notice may be cited as the companies act date of. Corrigendum to national industrial classification 2008 nic 2008 national industrial classification 2008 nic 2008. Guidelines for corporate law reform may 2004, a policy document developed by the department of. Preexisting companies on 1 may 2011 every preexisting company. This act is called the companies act, 2008, and comes into operation on a date fixed by the. The companies act 61 of 1973 the previous act was repealed on 1 may 2011. Other provisions with respect to a companys constitution. The rule would permit certain etfs to begin operating without the expense and delay of obtaining an. Industry and trade hereby issues the followingnotice. The information contained herein is a summary of some of the key aspects of. Act to provide for the development, promotion and maintenance of standardisation and quality in connection with commodities and the rendering of related. Companies ct 2008 act o 71 of 2008 6 right to incorporate company or transfer registration of foreign company one or more persons, or an organ of state, may incorporate a profit company, and an organ of state, a juristic person, or three or more persons acting in concert, may incorporate a nonprofit company, by. Amendment of the companies act regulation, 2011 20 august 20companies act no 71 of 2008 maatskappywet no 71 van 2008.
The companies act, 20 passed by the parliament has received the assent of the president of india on 29th august, 20. See section 5a1 of the investment company act defining openend company as a management company that is offering for sale or has outstanding any redeemable security of which it is the issuer. Download a company resolution template what is a company resolution. There are changes that may be brought into force at a future date.
Sof 2009 the companies act date of commencement notice. Be it enacted by parliament in the sixtyfourth year of the republic of india as follows. In south africa, company resolutions are governed by the companies act 71 of 2008. The minister of trade and industry has, in terms of section 223 and item 14 of schedule 5 of the companies act. The companies model articles regulations 2008 wikipedia. Interestingly enough, it has enjoyed less attention than its cousin the consumer protection act, which became operational on 1 april 2011. The companies act 2008 at a glance overview you have decided to start a business and you want to incorporate a company. We are the leading resource for freely available legislation in south africa and are used daily by thousands of professionals and industry leaders. The companies act 2009 sierra leone legal information. This information booklet serves as an explanatory guide to, and general reference tool about the stipulations of the. Companies act 2006 is up to date with all changes known to be in force on or before 18 april 2020. Alterable provisions within the companies act, 2008. Dissolution of company law board and consequential provisions.
Recent case law decided under the 2008 act has confirmed that the act contains only a partial, and not a full, codification of all. Promote compliance with the bill of rights as provided for in the constitution in the application of company law. The act was signed by the president on 8 april 2009, but. Notes on the guide to companies act no 71 of 2008 this guide is intended as an easy reference, pocketsized guide for directors, shareholders, company officers and any other stakeholder who has an interest in corporate law reform. Companies act no 71 of 2008 western cape government. Corporate governanceking iii and companies act 71 of 2008. It is hereby notified that the president has assented to the following act, which is hereby published for general information. Companies act 1993 no 105 as at january 2020, public act. Company law introduction ii co law 1st class ii co law for. Working of the collection of statistics act 2008 annual report for 201112. For guidance, the developers looked to south african company law for the 21st. Memorandum on the objects of the companies act no 71 of 2008 107kb pdf. The model articles will apply to a limited company if it does not register its own articles or, if it does register them, they will apply to the extent that they are not modified by the articles of the company.
Henochsberg on the companies act 71 of 2008 request pdf. The companies act, 2008 the 2008 act provides that a company s memorandum of incorporation moi is subject to the 2008 act and must be consistent with its provisions. Companies act no 71 of 2008 872kb pdf maatskappywet no 71 van 2008 685kb pdf. Download a company resolution template formfactory. The minister of trade and industry, dr rob davies, signed and approved the companies regulations, 2011. Payment of a filing fee, unless it is the first such filing by a preexisting company, as contemplated in schedule 5, item 42. Ulii is a member of the global free access to law movement and of the african lii community. Understanding the new companies act pwc south africa. An act to reform company law and restate the greater part of the enactments relating to companies. The new act and regulations became effective on 1 may. President zuma signed into law the companies amendment act, 2011 and approved the proclamation and presidents minute that put into legal force the companies act 2008 on 1 may 2011. Preexisting companies on 1 may 2011 every preexisting company, that was formed in terms of the previous. Failure on directorship level may ultimately result in the ruin of a company with aggrieved and unpaid creditors attempting to recover damages suffered and losses incurred.