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Corporate Laws Amendment Act, No. 24 of 2006

Long title

To amend the Companies Act, 1973, so as to amend certain definitions and insert new definitions; to make a distinction between widely held companies and limited interest companies; to limit the liability of various office bearers to that arising from gross negligence in relation to the performance of their functions; to make further provision relating to the use of electronic aids in the furnishing of information relating to companies; to broaden the Minister's powers of delegation; to provide for new ways of giving notice; to make further provision regarding financial assistance for the purchase of a company's shares; to eliminate certain formalities regarding the memorandum and articles; to allow the registrar to restore the registration of a company which has been deregistered in certain circumstances; to make further provision regarding matters to be stated in a prospectus; to change the requirements relating to the disposal of the undertaking of a company; to make new provision in respect of the disclosure of information; to make new provision for the appointment of auditors and audit committees; to provide anew in respect of financial statements; to make new provision regarding the Securities Regulation Panel; to make provision in respect of financial reporting standards; to establish and make further provision for a Financial Reporting Standards Council and a Financial Reporting Investigations Panel; to create an offence in respect of non-compliant financial reports; and to amend Schedule 4 by inserting definitions and amending other provisions relating to financial reporting.

To amend the Close Corporations Act, 1984, so as to insert definitions; to make further provision relating to the use of electronic aids in the furnishing of information; to provide for new methods of giving notice; to make further provision with regard to disclosure of information; and to allow the registrar to restore the registration of a corporation which has been deregistered in certain circumstances; and to provide for matters connected therewith.

Table of contents

SECTION TITLE
1. Amendment of section 1 of Act 61 of 1973...
2. Amendment of section 8 of Act 61 of 1973...
3. Amendment of section 9 of Act 61 of 1973...
4. Insertion of section 17A in Act 61 of 1973
5. Amendment of section 20 of Act 61 of 1973
6. Amendment of section 28 of Act 61 of 1973
7. Amendment of section 29C of Act 61 of 1973
8. Amendment of section 35 of Act 61 of 1973
9. Amendment of section 38 of Act 61 of 1973...
10. Amendment of section 43 of Act 61 of 1973...
11. Amendment of section 44 of Act 61 of 1973...
12. Substitution of section 61 of Act 61 of 1973
13. Amendment of section 63 of Act 61 of 1973
14. Amendment of section 64 of Act 61 of 1973
15. Amendment of section 73 of Act 61 of 1973...
16. Amendment of section 144 of Act 61 of 1973...
17. Substitution of section 148 of Act 61 of 1973...
18. Insertion of section 148A in Act 61 of 1973
19. Amendment of section 173 of Act 61 of 1973...
20. Amendment of section 215 of Act 61 of 1973...
21. Amendment of section 228 of Act 61 of 1973...
22. Insertion of section 261A in Act 61 of 1973
23. Amendment of section 269 of Act 61 of 1973
24. Insertion of sections 269A and 269B in Act 61 of 1973
25. Amendment of section 270 of Act 61 of 1973...
26. Insertion of section 270A in Act 61 of 1973
27. Amendment of section 271 of Act 61 of 1973
28. Amendment of section 273 of Act 61 of 1973
29. Substitution of section 274 of Act 61 of 1973
30. Insertion of section 274A in Act 61 of 1973
31. Amendment of section 275 of Act 61 of 1973...
32. Insertion of section 275A in Act 61 of 1973
33. Amendment of section 276 of Act 61 of 1973...
34. Amendment of section 280 of Act 61 of 1973
35. Amendment of section 284 of Act 61 of 1973...
36. Insertion of section 285A in Act 61 of 1973
37. Amendment of section 286 of Act 61 of 1973...
38. Substitution of section 287 of Act 61 of 1973
39. Insertion of section 287A in Act 61 of 1973
40. Amendment of section 288 of Act 61 of 1973...
41. Repeal of section 289 of Act 61 of 1973
42. Substitution of section 290 of Act 61 of 1973
43. Repeal of sections 291 and 294 of Act 61 of 1973
44. Amendment of section 300 of Act 61 of 1973...
45. Insertion of section 300A in Act 61 of 1973
46. Amendment of section 303 of Act 61 of 1973
47. Amendment of section 304 of Act 61 of 1973
48. Amendment of section 305 of Act 61 of 1973
49. Amendment of section 419 of Act 61 of 1973
50. Amendment of section 440B of Act 61 of 1973...
51. Amendment of section 440C of Act 61 of 1973...
52. Amendment of section 440D of Act 61 of 1973...
53. Insertion of Chapter XVB in Act 61 of 1973
54. Amendment of section 441 of Act 61 of 1973...
55. Amendment of Schedule 4 to Act 61 of 1973...
56. Transitional provisions
57. Amendment of section 1 of Act 69 of 1984...
58. Amendment of section 5 of Act 69 of 1984...
59. Substitution of section 13 of Act 69 of 1984
60. Amendment of section 15 of Act 69 of 1984...
61. Amendment of section 15A of Act 69 of 1984..
62. Amendment of section 26 of Act 69 of 1984...
63. Amendment of section 27 of Act 69 of 1984...
64. Short title and commencement

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