n Acta Juridica - An overview of company law reform in South Africa : from the Guidelines to the Companies Act 2008

Volume 2010, Issue 1
  • ISSN : 0065-1346
  • E-ISSN: 1996-2088



This article provides a broad overview of the company law reform process. The contribution does not attempt to discuss substantive provisions of the Companies Act 71 of 2008. Instead, the author explains the process followed in the drafting of this groundbreaking piece of legislation. The article begins by setting out the underlying fundamental objectives which drove the process of reforming company law in South Africa. Then it discusses the structure established for the completion of the process, starting with the appointment of the Project Manager, the establishment of the working committees on broad company law areas to assist the process of preparing drafter's instructions, the establishment of the local and international reference teams to advise on policy and legislative consistency, the drafting and consultation processes, the introduction of the legislation into Parliament, the passing of the legislation by Parliament and the signing of the Act into law by the President. Finally, the article explains the process which still needs to unfold between the signing of the law by the President and the scheduled implementation later in 2010.

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