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Companies Act, 2008 (Act No. 71 of 2008)

Chapter 1 : Interpretation, Purpose and Application

Part A : Interpretation

5. General interpretation of Act

 

 

1) This Act must be interpreted and applied in a manner that gives effect to the purposes set out in section 7.

 

2) To the extent appropriate, a court interpreting or applying this Act may consider foreign company law.

 

3) When, in this Act, a particular number of ‘business days’ is provided for between the happening of one event and another, the number of days must be calculated by—
a) excluding the day on which the first such event occurs;
b) including the day on or by which the second event is to occur; and
c) excluding any public holiday, Saturday or Sunday that falls on or between the days contemplated in paragraphs (a) and (b), respectively.

 

4) If there is an inconsistency between any provision of this Act and a provision of any other national legislation—
a) the provisions of both Acts apply concurrently, to the extent that it is possible to apply and comply with one of the inconsistent provisions without contravening the second; and
b) to the extent that it is impossible to apply or comply with one of the inconsistent provisions without contravening the second—
i) any applicable provisions of the—
bb) Labour Relations Act, 1995 (Act No. 66 of 1995);
cc) Promotion of Access to Information Act, 2000 (Act No. 2 of 2000);
dd) Promotion of Administrative Justice Act, 2000 (Act No. 3 of 2000);
ee) Public Finance Management Act, 1999 (Act No. 1 of 1999);
ff) Financial Markets Act, 2012;
gg) Banks Act;

prevail in the case of an inconsistency involving any of them, except to the extent provided otherwise in sections 30(8), 49(4); or

hh) Local Government: Municipal Finance Management Act, 2003 (Act No. 56 of 2003); or
ii) Section 8 of the National Payment System Act, 1998 (Act No. 78 of 1998).

[Section 4(b)(i)(ff) amended by Section 111 of the Financial Markets Act, 2012]

 

5) If there is a conflict between a provision of Chapter 8 and a provision of the Public Service Act, 1994 (Proclamation No.103 of 1994), the provisions of that Act prevail.

 

6) If there is a conflict between any provision of this Act and a provision of the listing requirements of an exchange-
a) the provisions of both this Act and the listing requirements apply concurrently, to the extent that it is possible to apply and comply with one of the inconsistent provisions without contravening the second; and
b) to the extent that it is impossible to apply and comply with one of the inconsistent provisions without contravening the second, the provisions of this Act prevail, except to the extent that this Act expressly provides otherwise.