Browsing by Author "Yeats, J L"

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    The drafters' dilemma: Some comments on the Corporate Laws Amendment Bill, 2006
    (2006) Yeats, J L
    The Corporate Laws Amendment Bill (the Bill), published in GG 28765 of 21 April 2006, was introduced in Parliament on 8 May 2006. It heralds a new era in South African company law and comprises the first phase of a sweeping corporate law-reform process initiated by the Department of Trade and Industry (DTI). The impetus for this project apparently originated as far back as November 1997, when the DTI issued a document outlining a broad legislative reform programme that included a review of existing securities regulations, institutions with principal oversight of corporate structure, and current practices and regulations in the area of corporate governance. As a precursor to the corporate law-reform phase of the broader legislative reform programme, the DTI published a document entitled South African Company Law for the 21st Century: Guidelines for Corporate Law Reform in GN 1183 GG 26493 of 23 June 2004 (the Proposal). The Proposal sets out, in general terms, those changes which the DTI deems necessary or desirable to its effort to review and modernize South African company law. This is based on a perceived need to bring our law into line with international trends and, according to the DTI, to reflect and accommodate the changing business environment, both nationally and internationally.