Whilst it is widely accepted that companies operate under the “majority rule”, there are many instances where minority shareholders are placed in a position of vulnerability to oppression by majority shareholders as a result of the imbalance in voting rights.

The Companies Act No.71 of 2008 (the “Companies Act”) affirms (in section 19) that companies have a separate legal personality to acquire rights and incur obligations that are distinct from those of its’ directors or shareholders.

In light of the COVID-19 pandemic having the potential to trigger events of default across various commercial contracts, it is not surprising that the force majeure clause is the topic getting the most attention in both the South African and global legal circles.

On 13 February 2020, the minister of trade and industry brought into effect the operation of the amended section 9 and section 8(4) of the Competition Act No. 89 of 1998 (the “Competition Act”), together with the respective Regulations.

Companies should begin to prepare for the heightened disclosure requirements relating to beneficial ownership that will come into effect on 1 April 2023.