Monday, June 8, 2020
In these trying times it is likely that we will see an increase in the number of companies that are unable to pay their creditors on time. What is the board of a company to do when it becomes clear that the company will default on its debt obligations in the coming months? Surely it's acceptable to simply push through, ask for an indulgence to pay late, play for time...all in the hope that this is merely temporary and all will be well again post-Covid. Or is it? It may not be that simple for many companies.
Monday, June 1, 2020
And it is official……the Real Estate industry got the green light to start operating fully, from 1 June 2020. Business Operations will be possible under the following regulations and below a short summary of the REBOSA COVID-19 WORKPLACE READINESS GUIDELINES.
Wednesday, April 22, 2020
Whilst the country is still under lockdown following the announcement by the President to extend the lockdown to the end of April 2020, the effects on the country’s economy and labour markets are dire. Employment losses are rapidly increasing with many businesses remaining closed and employees suffering due to income loss or layoffs.
Wednesday, April 15, 2020
The Minister of Mineral Resources and Energy has extended various timeframes prescribed in the Mineral and Petroleum Resource Development Act and regulations, in context of the COVID 19 lockdown period.
Tuesday, April 14, 2020
The Monetary Policy Committee of the SA Reserve Bank has cut the repo rate by another 100 basis points bringing South Africa's repo rate to 4.25% per annum, the prime lending rate now adjusted to 7.75% per annum.
Force Majeure is a situation which allows for parties to agreements to be freed from all obligations and liabilities when an extraordinary event, beyond the control of either of the parties, prevent one or both of them from fulfilling their contractual obligations.
Wednesday, April 8, 2020
A Guidance Note on the processing of personal information of data subjects in the management and containment of COVID-19 has been published by the Information Regulator. The Guidance Note was published in terms of the Protection of Personal Information Act (POPIA). The issuance of the Guidance Note follows the publication of the Regulations which were made in terms of section 27(2) of the Disaster Management Act in March 2020, including those that allow for the tracking and tracing of infected persons and potentially infected persons via cell phone and location data.
Due to the current COVID-19 lockdown situation, please take note of the following regarding the Deeds Offices
Tuesday, April 7, 2020
Business must understand the reciprocal rights and duties created for employers and employees now during the crisis. The Occupational Health and Safety Act, 85 of 1993 the Labour Relations Act, 66 of 1995 and the Basic Conditions of Employment Act 75 of 1997 remain in force and constitute the statutory framework within which the rights and obligations of employers and workers are defined. Contracts of employment concluded with workers and policies amplifying such contracts continue to encapsulate the common law rights of employers and employees.
Wednesday, April 1, 2020
Shareholders are motivated to invest more in financial markets when their rights are protected in terms of regulated rules. They are more inclined to invest in a country which has effective legal regulations, which leads to the development of the financial markets. This, in turn, allows scope for earning a favourable return on investment.
