Files
| Attachment | Size |
|---|---|
| act-111-1976.pdf | 6.71 MB |
111 of 1976
The Companies Amendment Act 111 of 1976 intends:
- to amend the Companies Act, 1973 [repealed in 2011], so as:
- to authorize the making of regulations providing for the making and admissibility in evidence of certain copies of certain records;
- to render a change of name of a company immediately effective;
- to extend the powers of a company in relation to additions to or alterations of its objects and powers;
- to extend the powers of a company to convert shares of one class into shares of another class;
- to restrict the reduction of share capital where shares have been converted into redeemable preference shares;
- to dispense with the need for a prospectus for certain offers of shares by a listed company;
- to reduce the requirements relating to the contents of a prospectus for certain offers of shares by an unlisted company;
- to further regulate the publication of an advertisement relating to an offer of shares;
- to relieve a company of the obligation to lodge with its annual return a list of other directorships held by its directors;
- to exempt certain external companies from the payment of annual duty;
- to further regulate voting at meetings of a company;
- to further regulate the voting rights of the holders of preference shares;
- to further regulate the passing of a special resolution;
- to further regulate the making of loans to and the provision of security for a director or manager;
- to further regulate the resignation or removal of an auditor of a company;
- to further regulate the submission of group annual financial statements;
- to replace certain provisions relating to the disclosure of loans made to or security provided for a director or manager;
- to restrict the right of directors and former directors to vote in respect of the nomination of a liquidator;
- to limit to winding-up or judicial management the circumstances in which the conrt may inquire into and make orders in regard to the liability of delinquent directors and others;
- to permit a provisional judicial manager to call certain meetings of creditors; and
- to effect certain textual alterations;
- to make special provision in regard to aminal financial statements prepared prior to 20 November 1974; and
- to provide for incidental matters.
Commencement
23 July 1976
