Addressing minority shareholder oppression: Effective remedies
Being a minority shareholder can leave you powerless in situations where decisions are made against your wishes. Most Memorandums of Incorporation (MOIs) typically require a 75% majority vote for special resolutions to pass, regardless of your dissent. This scenario can lead to feelings of oppression and unfair prejudice. The word oppressed was derived from the […]
HAVE YOU HIRED THE WRONG PERSON FOR THE JOB?
When a company grows, the number of employees grows too and while this is an exciting venture, the pressure to fill new positions may lead recruiters to hire someone who does not fulfil the role at all. The decision to hire someone undesirable can be called a “bad hire”. The unfortunate part of this mistake […]
EMAIL MANAGEMENT SYSTEM? GET IT BEFORE IT GETS YOU
If your company uses emails to communicate with clients, then it’s not enough to just rely on traditional ways of managing email, such as backing up emails periodically. There needs to be a well-equipped email management system in place that will keep your business safe. The key point that relates to the heavy use of […]
THE COMPULSORY ROTATION OF AUDITORS
Every public and state-owned company has to appoint an auditor and a company secretary. However, in terms of section 92 of the Companies Act, 2008, the same individual is not allowed to serve as the auditor or designated auditor of a company for more than 5 consecutive financial years. What does this mean for my […]
EMAIL MANAGEMENT SYSTEM? GET IT BEFORE IT GETS YOU
If your company uses emails to communicate with clients, then it’s not enough to just rely on traditional ways of managing email, such as backing up emails periodically. There needs to be a well-equipped email management system in place that will keep your business safe. The key point that relates to the heavy use of […]
REQUIREMENTS TO RESTORE A DEREGISTERED COMPANY
There are various circumstances in which a company (or close corporation) can become deregistered at the CIPC. The company itself can apply for deregistration at the CIPC, for any number of reasons. If a company has not submitted and paid its annual returns for more than two successive years, the CIPC will inform such a […]