Corporations and partnerships in South Africa:
Saved in:
| Main Authors: | , |
|---|---|
| Format: | Book |
| Language: | English |
| Published: |
Alphen aan den Rijn
Kluwer Law International
2010
Frederick, Md. Aspen Publ. |
| Subjects: | |
| Online Access: | Inhaltsverzeichnis |
| Item Description: | Originally publ. as a monograph in The International Encyclopaedia of Laws / Corporations and Partnerships Law |
| Physical Description: | 148 S. 2 Ill. |
| ISBN: | 9789041133885 9041133887 |
Staff View
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| 245 | 1 | 0 | |a Corporations and partnerships in South Africa |c Michele Havenga & Natania Locke |
| 246 | 1 | 3 | |a The International Encyclopaedia of Laws / Corporations and Partnerships Law |
| 264 | 1 | |a Alphen aan den Rijn |b Kluwer Law International |c 2010 | |
| 264 | 1 | |a Frederick, Md. |b Aspen Publ. | |
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| 650 | 4 | |a Corporation law |z South Africa | |
| 650 | 4 | |a Partnership |z South Africa | |
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Record in the Search Index
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| adam_text | Titel: Corporations and Partnerships in South Africa
Autor: Havenga, Michele
Jahr: 2010
Table of Contents
The Authors 3
List of Abbreviations 11
General Introduction 13
§1. General Background 13
I. Geography 13
II. Cultural Composition 13
III. Political System 14
IV. Population and Employment Statistics 15
V. Companies and Close Corporations Statistics 15
VI. Social and Cultural Values 15
§2. Companies, Partnerships and Close Corporations: Historical 16
I. Background 16
§3. Definitions and Structure of Corporations and Partnerships 17
I. Principal Forms of Enterprise 17
A. Sole Proprietorship 17
B. Partnership 18
C. Company 18
D. Close Corporation 18
E. Business Trust 18
F. Co-operative Society 19
§4. Sources and Hierarchy of the Law on Companies,
Partnerships, and Close Corporations 19
I. Companies 19
A. Common Law 19
B. The Companies Act 19
II. Partnerships 20
A. Common Law 20
B. Legislation 21
III. Close Corporations 21
IV. The Constitution of the Republic of South Africa 21
§5. Private International Law 22
§6. The Labour Law Connection: Co-determination and
Corporate Structure 23
Selected Bibliography 25
Part I. Companies 31
Chapter 1. The Company with Share Capital 31
§1. Characteristics 31
§2. Formation 31
I. Formal Requirements 31
A. The Memorandum of Association 32
B. The Articles of Association 33
II. Notification, Registration, Incorporation, and Publicity 34
III. Contracts Concluded on Behalf of a Company
to Be Incorporated 34
IV. Number of Subscribers 35
V. Initial Share Capital 35
VI. Other Material Formation Requirements 35
§3. Essential Elements of the Legal Person 36
I. The Company Name 36
II. The Legal Nature of a Company 37
III. Nationality, Domicile, and Residence 37
IV. The Objects Clause 38
A. The Doctrine of Constructive Notice 38
B. Section 36 38
C. The Turquand Rule 39
D. Estoppel 40
§4. Capital and Shares 40
I. Different Concepts of Capital 40
A. Nominal or Authorized Share Capital 40
B. Issued and Unissued Share Capital 41
C. Minimum Share Capital 41
D. Paid-Up Share Capital 41
II. Alteration of Capital Requirements 42
III. Preferential Right of Subscription 43
IV Issues of Shares at a Premium and at a Discount 43
V. Public Issue Requirements: Offers in the Primary Market 43
A. Allotment and Issue of Shares 43
B. Prospectus 44
C. Allotment and Acceptance Pursuant to a Public Offer 45
VI. Securities Exchange Requirements 45
VII. Offers for Sale - the Secondary Market 47
VIII. Capital Rules 48
A. Acquisition of Own Shares by the Company 48
B. Payment of Dividends 49
C. Payment of Interest on Shares out of Share Capital 50
D. Redeemable Preference Shares 50
IX. Types or Classes of Shares 50
A. Preference Shares 51
B. Ordinary Shares 51
C. Deferred Shares 52
X. Variation of Class Rights 52
A. Class Rights and the Power to Vary Them 52
B. Rights of Dissenting Minority Shareholders 52
XI. Transfer of Shares 53
A. The Register of Members 53
B. Uncertificated Securities 53
C. Nominee Shareholders 54
D. Share Certificates and Share Warrants 54
E. Transfer of Listed Securities 55
F. Security by Means of Shares 55
G. Insider Trading 56
XII. Debentures and Other Loan Funds 57
§5. Shareholders, Management, and Control 57
I. Shareholders 58
A. Shareholders Meetings 58
1. The Annual General Meeting 58
2. Genera] Meetings 59
3. Notice 60
4. Quorum 60
5. Proxies 61
6. Voting 61
7. Resolutions 62
8. Unanimous Assent 62
9. Minutes and Reports of Meetings 63
B. Majority Rule: Protection of Minority Interests 63
1. Common-Law Derivative Action 64
2. Statutory Derivative Action 64
3. Common-Law Personal Action 65
4. Statutory Personal Action 66
5. Ministerial Investigations and Other Statutory Safeguards 66
C. Annual Financial Statements and Reports; Profits
and Dividends 68
II. Directors 70
A. Appointment and Administrative Matters 70
B. Powers of Management and Representation 71
C. Duties of Directors to the Company, the Shareholders
and Third Parties 72
1. Fiduciary Duties 72
2. Duty of Care and Skill 73
3. Insider Trading 74
4. Other Statutory Duties 74
a. Restrictions on Benefits 74
b. Contracts between Director and Company 76
c. Other Statutory Limitations 76
D. Liability of Directors 77
1. Personal Liability towards Others 77
2. Criminal Liability 78
3. Indemnity from Liability and Relief by the Court 78
III. Other Officers 79
A. The Company Secretary 79
B. Managers 80
C. The Managing Director 81
D. The Chairman of the Board of Directors 81
IV. The Auditor 81
§6. LlQUIDATION OF THE COMPANY 84
I. Grounds for Winding-Up 85
A. Voluntary Winding-Up 85
B. Winding-Up by the Court 85
II. The Function and Powers of the Court 86
A. Voluntary Winding-Up 86
B. Winding-Up by the Court 86
III. The Effect of Winding-Up: Liquidation 88
§7. Judicial Management and Compromise 92
I. Judicial Management 92
II. Compromise 93
§8. Arrangements, Compromises, Mergers, and Takeovers 94
I. Arrangements and Compromises 94
A. Compromises and Arrangements under Section 311 94
B. Arrangements under Section 389 96
II. Mergers and Takeovers 96
A. Regulation of Mergers and Takeovers 97
1. The Securities Regulation Panel 97
a. Application of the Code 98
2. The Competition Act 89 of 1998 99
B. Takeover Techniques 100
C. Defensive Measures 101
III. Reconstructions 101
§9. Holding Companies and Subsidiaries 103
I. Definition 103
II. Duty to Prepare Group Accounts 103
III. Prevention of Abuse of Control 104
§10. Taxation of Companies and Shareholders 105
§11. The Company Limited by Guarantee 106
I. The Incorporated Association Not for Gain 107
Part II. Partnership 109
§1. Definition, Nature and Elements of a Partnership 109
I. Definition 109
II. Nature of a Partnership 109
III. Types of Partnership 110
IV. Essential Elements of a Partnership 111
V. Natural Consequences of a Partnership 112
§2. The Relationship between the Partners 112
I. Introduction i 12
II. Rights and Duties of Partners 113
III. Enforcement of Partners Rights and Duties 114
§3. The Relationship between Partners and Third Parties 115
I. Introduction 115
II. Contracts 115
A. Representation 115
B. The Principle of Mutual Mandate 116
C. Estoppel 117
D. Ratification 117
III. Delictual Liability 117
IV. Criminal Liability ] 17
V. Proceedings against the Partnership 118
§4. Dissolution and Liquidation of the Partnership 119
I. Dissolution 119
II. Grounds for Dissolution 119
A. Mutual Agreement 119
B. Effluxion of Term 119
C. Completion of the Partnership Business 119
D. Change in Membership 120
E. Court Order 120
F. War 121
G. Sequestration 121
III. Formalities for Dissolution 121
IV. Consequences of Dissolution 121
V. Liquidation of the Partnership Estate 122
A. The Liquidator 122
VI. Distribution 123
§5. Taxation of Partners 123
Part III. Close Corporations 125
§1. Definition, Nature, and Distinctive Characteristics
of a Close Corporation 125
I. Background 125
II. Nature and Distinctive Characteristics of a Close Corporation 125
§2. Formation, Name, and Conversions 126
I. Formation 126
II. Name 127
§3. Pre-incorporation Contracts 128
§4. Membership and Members Interests 129
I. Membership 129
II. Acquisition of Member s Interest 130
§5. Internal Relations 132
I. Association and Other Agreements 132
II. Management 133
III. Fiduciary Duties and Duties of Care and Skill 134
IV. Statutory Protection of Members and the Corporation 135
§6. External Relations 135
§7. Accounting and Disclosure 136
I. Accounting Records and Disclosure 136
II. The Accounting Officer 137
§8. Liability of Members and Others for Debts Incurred
by of the Close Corporation 138
I. Civil Liability 138
II. Criminal Liability 140
§9. Winding-up, Dissolution, and Deregistration 141
§10. Taxation of Close Corporations and Their Members 143
Index 145
|
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| author | Havenga, Michele Locke, Natania |
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| indexdate | 2024-07-10T00:05:15Z |
| institution | BVB |
| isbn | 9789041133885 9041133887 |
| language | English |
| lccn | 2010485887 |
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| physical | 148 S. 2 Ill. |
| publishDate | 2010 |
| publishDateSearch | 2010 |
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| publisher | Kluwer Law International Aspen Publ. |
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| spelling | Havenga, Michele Verfasser (DE-588)143286854 aut Corporations and partnerships in South Africa Michele Havenga & Natania Locke The International Encyclopaedia of Laws / Corporations and Partnerships Law Alphen aan den Rijn Kluwer Law International 2010 Frederick, Md. Aspen Publ. 148 S. 2 Ill. txt rdacontent n rdamedia nc rdacarrier Originally publ. as a monograph in The International Encyclopaedia of Laws / Corporations and Partnerships Law Corporation law South Africa Partnership South Africa Südafrika (Staat) Locke, Natania Verfasser (DE-588)143286870 aut HBZ Datenaustausch application/pdf http://bvbr.bib-bvb.de:8991/F?func=service&doc_library=BVB01&local_base=BVB01&doc_number=024366892&sequence=000002&line_number=0001&func_code=DB_RECORDS&service_type=MEDIA Inhaltsverzeichnis |
| spellingShingle | Havenga, Michele Locke, Natania Corporations and partnerships in South Africa Corporation law South Africa Partnership South Africa |
| title | Corporations and partnerships in South Africa |
| title_alt | The International Encyclopaedia of Laws / Corporations and Partnerships Law |
| title_auth | Corporations and partnerships in South Africa |
| title_exact_search | Corporations and partnerships in South Africa |
| title_full | Corporations and partnerships in South Africa Michele Havenga & Natania Locke |
| title_fullStr | Corporations and partnerships in South Africa Michele Havenga & Natania Locke |
| title_full_unstemmed | Corporations and partnerships in South Africa Michele Havenga & Natania Locke |
| title_short | Corporations and partnerships in South Africa |
| title_sort | corporations and partnerships in south africa |
| topic | Corporation law South Africa Partnership South Africa |
| topic_facet | Corporation law South Africa Partnership South Africa Südafrika (Staat) |
| url | http://bvbr.bib-bvb.de:8991/F?func=service&doc_library=BVB01&local_base=BVB01&doc_number=024366892&sequence=000002&line_number=0001&func_code=DB_RECORDS&service_type=MEDIA |
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