The Corporate Laws Amendment Act

The Corporate Laws Amendment Act, Act No 24 of 2006, (the ‘Act’) was promulgated in its entirety without amendment on 14 December 2007.

The Act will have a major impact on those Companies that are categorised as Widely Held Companies and it is therefore essential to ensure that correct categorisation has taken place as soon as possible.

In order to assist with the categorisation process, our statutory department can perform the necessary company secretarial procedures on your behalf at a charge of R500 excl VAT. Kindly confirm in writing, by no later than 29 February 2008, whether you would like us to perform the service on your behalf. Please note that this fee will not include our charges for the amendments to be made to your Articles of Association should you wish to convert your Company to a Limited Interest Company.

Should you have any other reason to believe that you may be classified as a Widely Held Company please advise us of such as this will be critical to the categorisation process.

Should you have any queries regarding The Corporate Laws Amendment Act please do not hesitate to contact Karen Jackson at our offices.

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