The maintenance of capital and Companies Bill 2007

 

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dc.contributor.author Jooste, Richard
dc.date.accessioned 2016-01-22T08:20:56Z
dc.date.available 2016-01-22T08:20:56Z
dc.date.issued 2007
dc.identifier.citation Jooste, R. (2007). The maintenance of capital and the Companies Bill 2007: note. South African Law Journal, 124(4), 710-733. en_ZA
dc.identifier.issn 0038-2388 en_ZA
dc.identifier.uri http://hdl.handle.net/11427/16503
dc.description.abstract The Companies Amendment Act 37 of 1999 brought about a significant mind-shift in relation to the concept of the maintenance of capital of a company. Prior to this Act, in an attempt to protect shareholders and minority shareholders, an extremely tight rein was kept on the ability of a company to part with its capital other than in the course of its business operations. Before the Amendment Act came into force this meant that, generally, a company could not acquire its own shares, a subsidiary could not acquire shares in its holding company, and dividends could not be paid out of capital. As a result of the 1999 Amendment Act all these transactions are now allowed subject to the basic requirement that the solvency and liability of the company must not be affected (see ss 85, 89 and 90 of the Companies Act 61 of 1973). en_ZA
dc.language eng en_ZA
dc.publisher Juta Law en_ZA
dc.source South African Law Journal en_ZA
dc.source.uri http://reference.sabinet.co.za/sa_epublication/ju_salj
dc.title The maintenance of capital and Companies Bill 2007 en_ZA
dc.type Journal Article en_ZA
dc.date.updated 2016-01-19T09:13:03Z
uct.type.publication Research en_ZA
uct.type.resource Article en_ZA
uct.subject.keywords capital en_ZA
uct.subject.keywords companies en_ZA
uct.subject.keywords south african law en_ZA
dc.publisher.institution University of Cape Town
dc.publisher.faculty Faculty of Law en_ZA
dc.publisher.department Department of Commercial Law en_ZA
uct.type.filetype Text
uct.type.filetype Image


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