Don’t forget that “distributions” also include the incurrence of a debt or other obligation or a forgiveness or waiver of a debt or other obligation by a company and so in each instance the requirements of Sec 46 of the South African Companies Act to “distributions” must be met.
In South Africa, security over financial instruments is typically established through a pledge, cession in security, or a combination of...
Directors often delegate certain functions and tasks to company employees or rely on the advice of experts. However, under South African...
In South Africa, banking and finance transactions often involve suretyships and guarantees. A guarantor's obligation depends on what the...