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Companies Act, 2008

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To provide for the incorporation, registration, organization and management of companies, the capitalization of profit companies, and the registration of offices of foreign companies carrying on business within the Republic; to define the relationships between companies and their respective shareholders or members and directors; to provide for equitable and efficient amalgamations, mergers and takeovers of companies; to provide for efficient rescue of financially distressed companies; to provide appropriate legal redress for investors and third parties with respect to companies; to establish a Companies and Intellectual Property Commission and a Takeover Regulation Panel to administer the requirements of the Act with respect to companies, to establish a Companies Tribunal to facilitate alternative dispute resolution and to review decisions of the Commission; to establish a Financial Reporting Standards Council to advise on requirements for financial record-keeping and reporting  by companies; to repeal the Companies Act, 1973 (Act No. 61 of 1973) and make amendments to the Close Corporations Act, 1984 (Act No. 69 of 1984), as necessary to provide for a consistent and harmonious regime of business incorporation and regulation; and to provide for matters connected therewith.

 

Last update: July 2011


Copyright: This Act reproduced under Government Printers Copyright Authority 10154 dated 20 March 1996


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Latest Developments:

 

The Companies Act, 2008 (Act No. 71 of 2008) was amended by the Financial Markets Act, 2012 (Act No. 19 of 2012) Government Gazette 36121, dated 1 February 2013.

 

The Companies Act, 2008 has been updated by the Companies Regulations, 2011, being notice No. R. 351 in Government Gazette No. 34239 dated 26 April 2011.

 

The Companies Act, 2008 has been updated by the Companies Amendment Act, No. 3 of 2011 in Government Gazette No. 34243 dated 26 April 2011.

 

The Companies Act, 2008 (Act No. 71 of 2008) has been added to the site (but please take note of section 225 regarding the promulgation of this Act).The Act was published in Government Gazette No. 32121 dated 9 April 2009.