Private companies vs close corporations

On 1 May 2011, the Companies Act 71 of 2008 came into effect, replacing the Companies Act 1973 and amending the Close Corporations Act of 1984. The New Companies Act introduced fundamental changes to South African company law. Regardless, the BIG question remains: Why should I consider converting my close corporation to a private company? Currently there is no legal […]

Removing directors of a company

The Companies Act, 71 of 2008, requires that the business and affairs of any company be managed by or under the direction of its board, which has the authority to exercise all of the powers and perform any of the functions of the company, except to the extent that the Companies Act or the company’s Memorandum of Incorporation provides otherwise […]