Shareholders’ agreements 101

Shareholders’ agreements 101

A shareholders’ agreement sets out how a private company should be operated and regulates the various shareholders’ rights and obligations. It is therefore important that a shareholders’ agreement be concluded at the beginning of the relationship to prevent disputes later on. The Companies Act No. 71 of 2008 (“the Act”) expressly recognises shareholders’ agreements. Section 15(7) of the Act states that shareholders of a company may enter into any agreement with one another in respect to any matter relating to…

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What is a Living Will?

What is a Living Will?

A Living Will is a document regarding healthcare at the end of your life. It states that any treatment that would otherwise lengthen your life should be withheld in specific circumstances, such as being in a permanent vegetative state, irreversibly unconscious or terminally ill. Through a Living Will, you express the desire to die a natural death, free from having your life extended artificially in any form such as a life support machine, tube feeding, or medication. In other words,…

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Who is liable for injuries in a Sectional Title Scheme?

Who is liable for injuries in a Sectional Title Scheme?

The case of Du Plooy and The Cascades Body Corporate and Another deals with a slip-and-fall incident by one of the owners in the scheme and member of the body corporate who was subsequently entrusted by the owners with the duty of the cleaning and gardening services. Mr. Du Plooy, as Plaintiff, slipped and fell in the common area of the scheme and initiated action against the managing agent and the body corporate for damages, in that both the managing…

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Keep left to stay on the right

Keep left to stay on the right

Duties of a reasonable driver: Among the duties of a motorist are: to keep a proper look-out, drive at a reasonable speed, observe the rule of the road (keep to the left), allow for lateral movement, follow another vehicle at a safe distance and maintain his vehicle in a roadworthy condition.[1] These duties may seem obvious to the reader, but the high amount of accidents on the South African roads are an indication that a lot of motorists don’t go…

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WHAT HAPPENS WHEN ANNUAL RETURNS ARE NOT FILED?

WHAT HAPPENS WHEN ANNUAL RETURNS ARE NOT FILED?

In terms of Section 33 of the Companies Act 71 of 2008 (“the Act”), read with Regulations 28, 29, 30 and 33 of the Companies Regulations of 2011 (“Regulations”), companies and close corporations must submit Annual Financial Statements or a Financial Accountability Supplement (“FAS”) together with their Annual Return with the Companies and Intellectual Property Commission (“CIPC”) annually. All companies (including external companies) and close corporations are required by law to file their annual returns with the CIPC on an…

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WHAT ARE THE BENEFITS OF CO-WORKING SPACES?

WHAT ARE THE BENEFITS OF CO-WORKING SPACES?

When walking into a co-working space, the first thing you will notice is that the atmosphere feels completely different from a regular office. You will feel a sense of excitement and collaboration in the air with a mixture of occupants who are deep in focus at their very own private desks, as well as other occupants who are engaged in conversation at the larger shared tables. In essence, co-working spaces are shared work spaces. They are more affordable alternatives for…

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ARE MUSLIM MARRIAGES RECOGNISED IN SOUTH AFRICA?

ARE MUSLIM MARRIAGES RECOGNISED IN SOUTH AFRICA?

All marriages entered in terms of Islamic law, are currently not recognised as valid marriages. For a valid marriage to be recognised in South Africa one must get married in terms of civil law which is regulated by the Marriage Act 25 of 1961 or two people can enter into a civil union partnership under the Civil Union Act 17 of 2006. Everyone has the right to freedom of religion, belief and opinion. The Constitution allows for legislation to recognise…

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HOW TO PUT TOGETHER AN EXIT STRATEGY

HOW TO PUT TOGETHER AN EXIT STRATEGY

Preparing yourself and your business for your inevitable exit from that business, whether by choice or fate, is one of the most neglected aspects we see in small and medium enterprises. That being said, we believe an exit strategy is critical not only in ensuring you achieve the best possible sale price on eventual exit, but also ensures that you realise the best possible returns from that business while you’re still around. But what is an exit strategy? Essentially it…

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WHAT TO LOOK OUT FOR BEFORE BUYING A PROPERTY

WHAT TO LOOK OUT FOR BEFORE BUYING A PROPERTY

You’ve searched far and wide for the perfect home for you and your family, and you’ve finally found it, or so you thought. Buying a home, especially for the first time, is as overwhelming as it is exciting. You’ve viewed your dream home, but remember, you receive so much information during your viewing, that you could easily become overwhelmed and miss important details. Especially if you have fallen in love with your potential new home. It is important to remember…

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EXCLUSIONARY CLAUSES IN HOSPITAL CONTRACTS

EXCLUSIONARY CLAUSES IN HOSPITAL CONTRACTS

The CPA contains certain outright prohibitions on the terms that can appear in contracts, the so-called “blacklist items”. Section 5(1) of the Act provides that a supplier (doctor/hospital) must not make a transaction or agreement subject to any term or condition if it directly or indirectly purports to waive or deprive  a consumer (patient) of a right in terms of the Act or avoid a supplier’s obligation or duty in terms of the Act, that would amount to an attempt…

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