Companies Act update.....
The new target date for the implementation of the Companies Act 2008 is 01 October 2010. The regulations are currently being drafted and will be published for general information before the Act is implemented. Until that time, it is business as usual. Close Corporations may therefore still be registered until 30 September 2010.
New Companies Act
Alterable / unalterable provisions in the Memorandum of Incorporation:
The new Companies Act has introduced two new concepts, being the "alterable provisions" and the "unalterable provisions" contained in the Memorandum of Incorporation (MoI).
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