Protect the Close Corporation, its Members, and the Accounting Officer by using our NEW Association Agreement In terms of the new Companies Act, 2008 no new Close Corporations may be registered, and existing Close Corporations may convert to a Company at no conversion fee up to 30 April 2014. There is no legal obligation to [...]
Tag Archives | close corporation
Why Convert Your Close Corporation to a Private Company
Close Corporations can no longer be registered With the advent of the new Companies Act, 2008 from 1 May 2011, it brought to an end the right to register new Close Corporations. Concomitantly, the opportunity to convert existing Close Corporations to private companies has been granted by the new Act. In terms of Schedule 3 [...]
The Future of Close Corporations
New concepts in Company Law Company Law has a significant impact on commercial activity. With the implementation of the Companies Act, 2008 (Act No 71 of 2008), new corporate law concepts have been introduced, such as solvency and liquidity, new standards of accountability, disclosure and transparency, shareholder appraisal rights and corporate rescue. However, the Close [...]
Why Convert your CC to a Private Company?
What is the current status of Close Corporations? “Since 1 May 2011 no new Close Corporations may be registered in South Africa,” advises Dr John Hendrikse, co-author of the Corporate Governance Handbook (Juta) and the Business Valuations Handbook (Butterworth). “The New Companies Act in conjunction with amendments to the Close Corporation Act, allows Close Corporations [...]
Recent Articles
- Why your Company needs a new customised Shareholders’ Agreement to protect the Company and its Shareholders
- The Future of Close Corporations : Update
- New Association Agreement for Close Corporations
- Public Benefit Organisations and the Requirements of the Income Tax Act
- Share Block Companies: A Viable Option
The Future of Close Corporations : Update
Company or Close Corporation With the advent of the new Company Law no new Close Corporations can be formed and registered from 1 May 2011. However a Close Corporation that existed at 30 April 2011 has two options: convert to a Company in terms of Schedule of 2 of the new Companies Act with an [...]