Identifying the structure envisioned for closely held incorporated business entities under the new statutory dispensation

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Date
2015
Authors
Henning, J. J.
Journal Title
Journal ISSN
Volume Title
Publisher
Faculty of Law, University of the Free State
Abstract
English: In the process of company law reform, the official belief was expressed that the regime provided in the new Companies Act 71 of 2008 for forming and maintaining a structure that reflects the characteristics of a close corporation had been sufficiently simplified so as to obviate the need to retain the Close Corporations Act 69 of 1984 as an avenue for new incorporations. The question arises as to whether such a structure is indeed provided for under the new Companies Act and, if so, what its salient features are. This contribution briefly addresses these questions
Afrikaans: In die loop van maatskappyereghervorming is die amptelike oortuiging uitgespreek dat die stelsel wat die nuwe Maatskappywet 71 van 2008 voorsien vir die vorming en instandhouding van ’n struktuur wat die eienskappe van ’n beslote korporasie weerspieël, voldoende vereenvoudig is om die behoud van die Wet op Beslote Korporasies 69 van 1984 as ’n roete vir nuwe inlywings oorbodig te maak. Die vraag ontstaan of die nuwe Maatskappywet inderdaad so ’n struktuur voorsien en, indien wel, wat die belangrikste kenmerke daarvan is. Hierdie bydrae beantwoord dié vrae kortliks.
Description
Keywords
Close corporations, South Africa -- Companies Act, 2008, Corporation law -- South Africa
Citation
Henning, J. J. (2015). Identifying the structure envisioned for closely held incorporated business entities under the new statutory dispensation. Journal for Juridical Science, 40(1 & 2), 19-34.