The maintenance of capital and Companies Bill 2007

Simple item page
dc.contributor.authorJooste, Richard
dc.date.accessioned2016-01-22T08:20:56Z
dc.date.available2016-01-22T08:20:56Z
dc.date.issued2007
dc.date.updated2016-01-19T09:13:03Z
dc.description.abstractThe 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.identifier.apacitationJooste, R. (2007). The maintenance of capital and Companies Bill 2007. <i>South African Law Journal</i>, http://hdl.handle.net/11427/16503en_ZA
dc.identifier.chicagocitationJooste, Richard "The maintenance of capital and Companies Bill 2007." <i>South African Law Journal</i> (2007) http://hdl.handle.net/11427/16503en_ZA
dc.identifier.citationJooste, R. (2007). The maintenance of capital and the Companies Bill 2007: note. South African Law Journal, 124(4), 710-733.en_ZA
dc.identifier.issn0038-2388en_ZA
dc.identifier.ris TY - Journal Article AU - Jooste, Richard AB - 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). DA - 2007 DB - OpenUCT DP - University of Cape Town J1 - South African Law Journal LK - https://open.uct.ac.za PB - University of Cape Town PY - 2007 SM - 0038-2388 T1 - The maintenance of capital and Companies Bill 2007 TI - The maintenance of capital and Companies Bill 2007 UR - http://hdl.handle.net/11427/16503 ER - en_ZA
dc.identifier.urihttp://hdl.handle.net/11427/16503
dc.identifier.vancouvercitationJooste R. The maintenance of capital and Companies Bill 2007. South African Law Journal. 2007; http://hdl.handle.net/11427/16503.en_ZA
dc.languageengen_ZA
dc.publisherJuta Lawen_ZA
dc.publisher.departmentDepartment of Commercial Lawen_ZA
dc.publisher.facultyFaculty of Lawen_ZA
dc.publisher.institutionUniversity of Cape Town
dc.sourceSouth African Law Journalen_ZA
dc.source.urihttp://reference.sabinet.co.za/sa_epublication/ju_salj
dc.titleThe maintenance of capital and Companies Bill 2007en_ZA
dc.typeJournal Articleen_ZA
uct.subject.keywordscapitalen_ZA
uct.subject.keywordscompaniesen_ZA
uct.subject.keywordssouth african lawen_ZA
uct.type.filetypeText
uct.type.filetypeImage
uct.type.publicationResearchen_ZA
uct.type.resourceArticleen_ZA
Files
Original bundle
Now showing 1 - 1 of 1
Thumbnail Image
Name:
Jooste_maintenance_capital_2007.pdf
Size:
102.23 KB
Format:
Adobe Portable Document Format
Description:
Download
License bundle
Now showing 1 - 1 of 1
Thumbnail Image
Name:
license.txt
Size:
1.72 KB
Format:
Item-specific license agreed upon to submission
Description:
Download
Collections
Journal Articles