Changes to Companies Act hailed

[Drake2007]

Changes to South Africa's Companies Act will benefit most businesses, although many companies will still have to prepare themselves for extensive changes under the new law.

Overall, however, analysts say the changes are mostly good news for business.

Last week the Department of Trade and Industry released the long-awaited regulations to the new Companies Act of 2008.

Although the regulations were officially released by the government, they are only expected to appear on the department's website during the course of the week.

Nicolaas van Wyk, chief director of the Research Centre for Independent Review (RCIR), who has studied the new regulations and the proclaimed Companies Act in detail, says the new law is something to be excited about, with benefits for most businesses.

link

 

[greggpb]

Bye, Bye CC's

 

[Drake2007]

Doesn't look like they're totally bye bye,

The regulations will form part of the new Companies Act, which was promulgated on April 9 and aims to replace the old act and amend certain sections of the Close Corporations Act.

 

[greggpb]

Yeah but I think they have to be audited like private companies..

 

[DreamKing]

the new law is something to be excited about, with benefits for most businesses.

I don't find anything "to be excited" ................
also I don't find anything "benefits for most businesses"........