On 28 August 2023, the Minister of Trade, Industry, and Competition published proposed amendments (the Companies Amendment Bill and Companies Second Amendment Bill) to the Companies Act No. 71 of 2008. We have set out a summary of certain of these amendments, which, in our view, are noteworthy, as well as our views on these amendments.
On 18 October 2023, we made submissions to the South African Portfolio Committee on Trade, Industry, and Competition in respect of those amendments that concerned us. While we are yet to receive written feedback from the Portfolio Committee, we are hopeful that the views expressed by ourselves and other market participants with a vested interest in these amendments will guide the Portfolio Committee in their final formulation of these proposed amendments to the Act.
Note: Jordan Moonsamy, Candidate Attorney in Johannesburg, also contributed to this insight.
View our summary here.