What Regulates Companies

South Africa has a new Companies Act, which is a total overhaul of the law regards companies. It also has a big impact on close corporations (CC). So what regulates companies now? What are the laws, rules, or documents that regulate companies now?

Most organisations and people are not well prepared and are not up-to-speed with the most recent developments. For example, banks are ill-prepared for the new Companies Act. You can’t really blame them, the Companies Act was amended at the last minute and final regulations were only approved at the last minute.

Are you aware of the laws and rules that apply to companies? Are you aware of the major regulatory developments that are coming over the next two years? What is going to happen to the old memorandum and articles of association? Do I need to draft a Memorandum of Incorporation? What is the impact on Shareholder Agreements? What is going to happen to Close Corporations? What has to happen to register, administer and wind-up companies? Is it possible to administer companies quickly and easily? What advantages does the Companies Act bring? Does it present any opportunities?

We offer a seminar, webinar, workshop, or executive briefing on the subject. Get a working understanding of what laws and rules regulate companies. Get up-to-speed quickly.

What do we cover?

• The Companies Act (as amended by the Companies Amendment Act) – the main features
• The Companies Regulations
• Company Forms
• Memorandum of Incorporation (MOI)
• Company Rules
• Shareholder Agreements
• What is the order of importance
• An overview of the road ahead – the next two years and the transitional period
• A timeline of what starts when
• What actions to take and when
• What prevails over what and when
• The process and doing things quickly and easily
• Converting a close corporation (CC) to a company
• Amending a Memorandum
• Take Home Points and Action items

Outcomes

• Be aware of the latest situation
• Be aware of what is coming down the road in the next two years
• Get a working understanding of what regulates companies
• Understand the practical impact on you
• Know what to do and when to do it
• Be able to answer the questions of your clients
• Be able to service your clients
• Administer companies quickly and easily

An Explanatory Guide

We will also provide you with a complimentary explanatory guide on the new Companies Act published by the Department.

Some of the topics we don’t cover in detail

Company law is a huge area and it is not possible to cover every aspect of it.  Therefore, these are some of the topics that we do not cover in detail unless you specifically ask us to:

• The duties of directors and their liability
• The role of Company Secretaries
• Public offerings
• Fundamental transactions, takeovers and offers
• Business Rescue
• The regulatory agencies

Who should attend? Why should they be aware of the laws?

• Legal advisors (corporate lawyers or in-house lawyers) – to provide good legal advice on the related issues
• Compliance officers – to effectively comply with the laws
• Anyone who administers companies – for the knowledge necessary for company administration
• Accountants – to provide good advice on the issues and service their clients
• Directors (executive and non-executive, CEOs and FDs) – to discharge their legal duties. The executive briefing is specifically designed for directors.
• Shareholders – to protect their asset
• Members of close corporations – to discharge their duties and know how the new laws impact on CCs
• CAEs, auditors and assurance providers (internal and external) – to audit and provide assurance

Who is the presenter?

A practical attorney from Michalsons. We will ensure the attorney is the best person to present the course depending on the type of course, the date, the specific issues and the attendees.

How long is it?

We provide this course in different formats. Public and private sessions can last for anything from 45 minutes, half a day or a full day. We also provide eCourses that can be done via the Internet at your convenience. We welcome enquiries for more information and details.

Venue?

We are happy to hold the event at your venue. If you want a personal in-house session at your offices, please contact us for a quote.