n Without Prejudice - Grace under fire : company law




The new Companies Act 71 of 2008 is now expected to come into effect on April 1 2011 (the effective date). Companies incorporated after the effective date of the Act will be governed not by their memorandum and articles of association as is currently the case, but by a consolidated document known as a Memorandum of Incorporation. Meanwhile, existing companies will have to consolidate their memorandum and articles of association into a single memorandum of incorporation (for convenience, reference to memorandum of incorporation shall mean the memorandum and articles of incorporation).


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