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COMPANIES AMENDMENT BILLS SIGNED INTO LAW
- 26 July 2024
- New Legislation
- SA Legal Academy
Please note: The Companies Amendment Act and Companies Second Amendment Act were gazetted on 30 July 2024 but are not yet in force.
The Companies Amendment Bill and Second Amendment Bill have been signed into law, according to a Presidency media statement. However, at the time of writing the new Acts had yet to be gazetted. As a result, it is not clear if they are already in force.
Among other things, the statement notes that – together – the two new pieces of legislation are expected to ‘promote the ease of doing business and impose greater corporate transparency on the earnings gap between the highest and lowest paid persons in a company’.
In addition, the Companies Second Amendment Act ‘extend(s) the period during which proceedings may be launched to recover any loss, damages or costs for which a person may be held liable under the law’. This is with the aim of responding to a recommendation in the Zondo State Capture Commission report.
- media statement
- Companies Amendment Bill’ ‘B’ version (now signed into law)
- Companies Second Amendment Bill’s ‘B’ version (now signed into law)
Published by SA Legal Academy Policy Watch
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