Companies Amendment Act 76 of 1974

The Companies Amendment Act 76 of 1974 intends:

• to amend the Companies Act, 1973 [repealed in 2011], so as:
  • to further define the expressions "controlling company", "holding company", "subsidiary company" and "wholly owned subsidiary"; 
  • to further regulate the lending of money by controlled companies; to further regulate a subsidiary's membership of its holding company;
  • to further prescribe the registration fees and annual duties payable by companies;
  • to further regulate the position of share premiums in relation to share capital; to further define the expression "security";
  • to further regulate the transfer of listed securities;
  • to regulate the publication of particulars of offers of shares and debentures to members of listed companies;
  • to alter the requirements relating to certificates to commence business;
  • to prescribe the quorum at a general meeting of a private company;
  • to regulate changes in the financial year of a company;
  • to further prescribe the requirements relating to group annual financial statements;
  • to further prescribe the requirements relating to half-yearly interim reports; and
  • to further prescribe the requirements in respect of take-over offers; and
• to provide for incidental matters.

Commencement

• 1 January 1974
• 25 November 1974, S.5