Turnaround News

Final business rescue legislation

jan@corprenewal.co.za (Jan van der Walt) — Sat, 21 May 2011 18:03:24 +0200

Final business rescue legislation associated with the new Companies Act can be downloaded by following these links:

Business rescue provisions in Chapter 6 of the Companies Act No. 71 of 2008 (323k).
Ondernemingreddingbepalings in Hoofstuk 6 van die Maatskappywet No. 71 of 2008 (333k).
Business rescue provisions in Chapter 6 of the Companies Amendment Act No. 3 of 2011 (279k)
Business rescue provisions in Chapter 6 of the Companies Amendment Act No. 3 of 2011 (English/Afrikaans version) (792k)
Business rescue provisions in Chapter 6 of the unofficial LexisNexis Consolidated Companies Act (105k)
Business rescue provisions in Chapter 6 of the Companies Regulations, 2011 (62k)
Companies Act No. 71 of 2008 (829k).
Mastskappywet No. 71 of 2008 (545k).
Companies Amendment Act No. 3 of 2011 (2 000k).
Companies Amendment Act No. 3 of 2011 (English/Afrikaans version) (5 920k).
Unofficial LexisNexis Consolidated Companies Act (945k).
Companies Regulations, 2011 (951k).

Turnaround Management and Corporate Renewal Book by Neil Harvey

jan@corprenewal.co.za (Jan van der Walt) — Sat, 21 May 2011 18:32:12 +0200

A description of the book and purchasing information is available from Turnaround Management and Corporate Renewal.

Reckless trading and the personal liability of directors

Wed, 1 Jun 2011 02:01:28 +0200

Accreditation of professions and licensing of business rescue practitioners

jan@corprenewal.co.za (Jan van der Walt) — Mon, 6 Jun 2011 16:05:28 +0200

The following message from CIPC was received by Corporate Renewal Solutions on Friday 20th May 2011 regarding licensing of business rescue practitioners:

"Please note that guidance and information on the filing of requests to be licenced as a business practitioner will shortly be made available on the CIPC website. It will be appreciated if you can advise your members or clients to submit formal requests in the prescribed manner as will be outlined in the website. "

On Wednesday 25th May 2011 a representative of CIPC informed Corporate Renewal Solutions that they are awaiting the Commissioner's signature on the Practice Note. Business rescue practitioner applications already received, however, are processed and individuals are directly contacted about further information required.

On Monday 6 June a representative of CIPC informed Corporate Renewal Solutions that the Practice Note ought to be published by Friday 10th June 2011.

For more information with teething problems with the implementation of business rescue legislation, see Accreditation of professions and licensing of business rescue practitioners.