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Companies Act, 1973 (Act No. 61 of 1973)

Chapter II: Administration of Act

Regulations by the Minister and Proclamations by the State President

15A. Prohibition of disclosure of, and exemption from obligation to disclose, certain information

 

 

1) The Minister may-
a) by notice in writing prohibit any company from disclosing, or from stating on or in any document of the company;
b) on the written application of a company to the Registrar, exempt it, subject to such conditions or restrictions as the Minister may deem fit, from the obligation to disclose, or to state on or in any of its documents,

particular information or a particular fact concerning the affairs or business of the company, or that of any of its subsidiaries, which the company would otherwise be required under this Act to disclose or to state on or in any document.

 

2) Notwithstanding the provisions of subsection (1) any company shall, if the Registrar in a particular case in writing requires the company to do so, submit to the Registrar information which the company would otherwise have been required to submit to the Registrar in terms of the provisions of this Act.

 

3) The Minister shall, when considering whether to impose a prohibition or grant an exemption under subsection (1), have regard to the right of the members of the company and of other persons to be informed of the state of affairs and the business and of the profit or loss of the company or of the company and its subsidiaries.

 

4) Any company which contravenes a prohibition imposed under subsection (1)(a) and any director or officer of a company who contravenes such prohibition, shall be guilty of an offence.

 

5) For the purposes of this section a company shall include an external company.