Recently many changes in the laws for South African Companies have occurred. This page is continuously updated to ensure that you can stay up date on the Companies Law of South Africa. Read the full Companies Act of 2008

Why the change?

During April 2011 the new Companies Act, No. 71 of 2008 became effective and replaced the previous of 1973. The effect of this for Small and Medium Enterprises (SMME’s) has been as follow:

  1. CC Members has been replaced with Company Directors.
  2. Internationalised: It has been drafted in accordance to international best practices.
  3. Less forms: Only one form, namely the Memorandum of Incorporation (MOI), is required to start trading formally.
  4. Custom businesses: Each Company can easily make regulatory provisions and governance rules as it wants to.
  5. Less financial procedures: Auditors or secretaries are not required under the law.
  6. Business Rescue: The business rescue concept is now formalised and broadened.

 

What does this mean for you as an SMME?

Register a new Company here