News > Corporate Law
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 In terms of the new Companies Act (“Act”), all state owned and listed companies as well as any other company that has a public interest score of above 500 points must appoint a Social and Ethics Committee. A company’s public interest score is calculated as the sum of the following: |
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 With the introduction of the new Companies Act (“the new Act”), the phenomenon of business rescue has come to the fore. |
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 The Russian registry suspended registrations in the .com.ru domain extension for the past few years, but has now decided to accept new registration requests. There are no restrictions or requirements for the registration of a .com.ru domain name so this is an opportunity for companies who do business with Russia to register a domain name in that country. |
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 A recent report by the American Federal Trade Commission (“FTC”, the equivalent to South Africa’s competition authorities) on the short- and long-term effects of authorised generics sparked an article in the Business Report on Friday, 14 October - “Delay in generics robbing SA’s sick”. |
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 The stand alone commercial law section of Adams & Adams, which forms part of the Commercial, Property and Litigation department has now been in existence for more than two years. |
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 Act not yet in force The long-awaited new Companies Act has now been signed. The President assented to the Act on 8 April 2009 and the final version was published in the Government Gazette on 9 April 2009. The Act is called the Companies Act, 2008 and will replace the current 1973 version. Although the new Act has been signed and published, it is not yet in force. It will only take effect on a date announced by the President in the Government Gazette. However, that date may not be earlier that one year following the date on which the President signed the Act. Accordingly, the Act will not come into force before 9 April 2010. However, it is expected that the effective date will only be in the second half of 2010 in order for regulations to be put into place and for CIPRO to make the necessary preparations. |
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 Deregistration is the process whereby a formal end is put to a company which has in practice become defunct. |
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The firm practises directly in several Southern African countries and through long-established associates in others.
