Businesses urged to adapt to new Companies Amendment Act – SABC News [Video]

Legal experts have advised companies to adapt to the Companies Amendment Act, which was signed into law late last year. Cliffe Dekker Hofmeyr hosted a webinar earlier this week to explain the new amendments.

The Act focuses on the ease of doing business by clarifying, simplifying and strengthening certain sections of the law.

Operational provisions include sections 16, 25, 135 and 204 which companies can now implement.

The Companies Amendment Act, which was published in the Government Gazette on December 27, has now become operational.

The amendments have been described as a “significant milestone” in South Africa’s corporate law by the Department of Trade, Industry and Competition.

They aim to make it easier to do business, increase transparency, and address income inequality.

Corporate lawyer for corporate and commercial at Cliffe Dekker Hofmeyr, Roxanne Bain, says there’s been an easing of compliance burden on companies.

Roxanne Bain from Cliffe Dekker Hofmeyr …