Doctoral Degrees (Mercantile Law)
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Browsing Doctoral Degrees (Mercantile Law) by Author "Snyman-van Deventer, E."
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Item Open Access Die vertrouensverpligtinge van ondernemingsreddingspraktisyns: ’n regsvergelykende studie(University of the Free State, 2015-07) Jacobs, Lezelle Marianne; Henning, J.; Snyman-van Deventer, E.English: When the Companies Act 71 of 2008 came into effect it brought about a new era of corporate rescue for South African companies. Chapter 6 of the Act provides for a new corporate rescue scheme, known as business rescue. Business rescue replaces the previous South African rescue model, judicial management, contained in the Companies Act 61 of 1973. The key role player in the rescue scheme is, however, the business rescue practitioner. The practitioner is afforded with extensive powers and rights. He takes over control of the management of the company and the duty to rescue the company rests on his shoulders. It is, however, possible that the purposes of chapter 6 to protect the interests of all stakeholders can be frustrated through the incompetence, partiality and carelessness of the practitioner. The practitioner is placed in a position of confidence with a number of stakeholders including the company, shareholders, employees and creditors of the company. Section 140(3)(b) of the Act states that the practitioner has the responsibilities, duties and liabilities of a director of the company for the duration of the rescue proceedings. The responsibilities, duties and liabilities of directors are set out in sections 75, 76 and 77. These sections contain the quasi-codified fiduciary duties of directors and therefore make them applicable to the practitioner. The practitioner is therefore a fiduciary. There is, however, uncertainty regarding the legal position of the practitioner as fiduciary. For this reason it was necessary to establish the nature and extent of these duties. This study examined the practitioner’s duty to act with good faith as well as his duty to act with care and skill. In conclusion it is found that the practitioner is in a unique position and that his fiduciary duties are sui generis in nature. He owes his fiduciary duties to all the affected persons according to a ranking. It became clear that the protection of these parties’ interest will involve a careful balancing of interests. The study culminates in a code of conduct for South African business rescue practitioners. The code of conduct could act as a compass when the practitioner is confronted with a difficult ethical decision or dilemma.Item Open Access The world trade organisation general agreement on trade in services: deregulating trade in Banking servlces in developing countries(University of the Free State, 2013-01) Acho Kum, Victorine Sirri; Snyman-van Deventer, E.English: This thesis has investigated the deregulation of trade in Banking Services in developing countries. It has investigated the deregulation of trade in banking services by an analysis of trade in banking services under the European Union, the United States of America, China and South Africa. The objective was to analyse the liberation process that has taken place in these countries and evaluate it in the context of negotiations on multilateral liberalisation of banking services within the World Trade Organisation framework. In particular, has the path adopted by these countries represented the best case of successful extensive deregulation in the banking services industries of developing countries? It is worth understanding whether this route could represent a blueprint for opening up markets in developing countries. Hence the sequence of deregulation and problems faced by these countries in deregulating their markets are here studied in order to provide insight in the areas that are likely to be most difficult to open internationally and are expected to lift impediments to multilateral negotiations. The thesis cover the traditional services provided by banks, such as acceptance of money transmission services. The thesis also focus on the principles for regulating the liberalisation provision of trade in banking services because of the unique character of such services and because, despite the increasing liberalisation of trade in banking services, national regulatory systems still differ substantially. Attempts made by the Basel Committee with its Core Principles for effective banking regulation and supervision was discussed to see whether or not this attempt has assisted toward ensuring that all banks are supervised according to common principles. It has been established that harmonisation of prudential and supervisory regulations are warranted where entry is restricted by differences among national regulations. However this should be done without preventing the host state from retaining the right to regulate foreign banks' activities in the host state only to the extent that such regulation is necessary for the protection of public interest. The host state may also intervene in those matters expressly reserve to it, notably liquidity, monetary and advertising. Lastly, an in-depth examination of the World Trade Organisation legal text was done in an attempt to extract the legal principle relevant to the deregulation of trade in banking services in developing countries. It was attempted to determine the most common issues between host countries and home countries, and to compare it. Their usual plea is for international harmonisation of national regulatory regimes, so as to coordinate their efforts, create a level playing field, and prevents a competitive race to the bottom among national regulators that ultimately harm the participants in these markets and the reluctance of the World Trade Organisation to prevent this.