The Financial Intelligence Centre Act (FICA) was introduced to fight financial crime, such as money laundering, tax evasion, and terrorist financing activities by making it more difficult for criminals to benefit from the proceeds of crime. The FIC Amendment Act (FICAA) brings South Africa closer to international standards and best practices recommended by the Financial […]

You may have already received a Compliance Notice in terms of Section 83(3)(d) of the Promotion of Access to Information Act 2 of 2000 (PAIA). Whilst this notice is aimed at entities who have not updated their PAIA Manuals in line with the Act, there is now another mandatory form that should be included in your […]

The Companies and Intellectual Property Commission (CIPC) is to keep a register of beneficial ownership (BO) for companies and close corporations that will serve as a repository of natural persons who own or exercise control over legal entities registered with the CIPC. This move is aimed at assisting law enforcement with relevant information during their investigations […]

The Information Regulator published a notice on 7 May 2023, inviting all private bodies to submit a report by Friday, 30 June 2023, detailing requests for access to the records of these private bodies. This applies to: Natural persons who are/have previously carried on any trade, business, or profession, but only in such capacity. Partnerships that are/have […]

Many trust deeds provide for ‘majority rule’ that if a decision is made by the majority of trustees and a resolution authorising the same is signed by the majority of trustees, the decision and accompanying resolution are valid. In May 2023 this was changed when the Supreme Court of Appeal (‘SCA’) handed down a judgement […]

As you may be aware, a new reporting obligation for Trustees was gazetted on 31 March 2023, which amended the Trust Property Control Act, Act 57 of 1998 (TPCA). This means that with effect from 1 April 2023, Trustees are obligated to lodge and keep up-to-date records of the beneficial ownership of trusts. This amendment […]

Smart farming: IoT and your farming equipment  Combined Agriculture, Aquaculture & Fishing, and Technology, Media & Telecommunications Alert – 30 November 2022 “The Internet of Things (IoT) is a term used to describe the connecting of physical objects to each other via the internet in order to exchange data between them. IoT capabilities are increasingly […]

AS IT IS WILLS MONTH MAKE SURE THAT YOUR FINAL WISHES COME TRUE As Professional Executors and Estate Planners, it is frustrating to see a family torn apart by conflict or financially devastated due to a badly drafted or outdated Will and Estate Plan. Even worse is where there is no will or plan at […]

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