Amended Sec 45 of the South African Companies Act

Sec 45 of the South African Companies Act (as amended) provides for direct or indirect assistance by a company to a related or inter related company or corporation, one of its members or a person related to them. Anything done in this regard which is inconsistent with the provisions of Sec 45 will be void.

CFO’s in particular, and board members of all companies should familiarise themselves with the requirements of Sec 45.