The Department of Trade & Industry has published some changes to the 2008 Companies Act. The Bill proposes a number of governance related amendments to the Companies Act in respect of board committees, remuneration and reporting, amongst others.
Furthermore, there are some interest proposed changes that will have an impact on the BEE programmes, those being:
- Clarity on how shares which are not fully paid are to be dealt with (potential impact on Net Asset Value points).;
- Broader definition of an employee share scheme to include those where there are purchases of shares of a company (potential impact on Black designated Group points);
- To deal with the composition of the social and ethics committee and its functions (potential impact on BEE Management control points).
For more information, contact our Legal Advisors on:
Tel: (+27) 011 259 4018
Tel: +27 (0) 11 259 4016
Cell: +27 (0) 76 754 6390
ABOUT NPI GOVERNANCE CONSULTING
NPI Governance Consulting is a niche ISO9001 accredited B-BBEE & Economic development Advisory and Project Management practice. The company is a trusted transformation advisor to local and multinational companies, and international investors. NPI Governance Consulting an advocate for sustainable economic growth and strategic transformation intelligence.
NPI Governance Consulting delivers end-to-end B-BBEE service to all market sectors through business advisory, consulting and project management functions. With a team of experienced specialists, the company guides and supports clients- ensuring the delivery of quality solutions.