oa De Rebus - The Companies Act
|Article Title||The Companies Act|
|© Publisher:||Law Society of South Africa|
|Publication Date||Sep 1999|
|Pages||49 - 50|
|Keyword(s)||Companies Act 61 of 1973, Companies Amendment Act 37 of 1999 and South African company law|
The Companies Amendment Act 37 of 1999 (the Amendment Act), which came into effect on 30 June 1999, makes a number of changes to well-established procedures of South African company law in terms of the Companies Act 61 of 1973 (the Act). Certain of these changes relate to the traditional rules governing the maintenance of capital of a company, which are largely abolished by the Amendment Act, and the introduction of sections permitting, under certain circumstances, the purchase by a company of its own shares.
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