Tag Archives: Financial assistance

FINANCIAL ASSISTANCE TO DIRECTORS

A company lending money to its directors may not be as simple a process as it may initially appear to be – not even in the case of so-called “one-man” companies. There is various requirements in the Companies Act, 71 … Continue reading

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FINANCIAL ASSISTANCE BY COMPANIES TO ISSUE SHARES

Section 38 of the Companies Act, 61 of 1973 (now repealed) contained a prohibition against companies issuing shares to prospective shareholders on loan account. This was identified as one of the hurdles in the way of BEE empowerment deals specifically … Continue reading

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