2008 companies act pdf namibian

Provisions within the following legislation are applicable to the payments system in namibia. Republic of namibia 1 annotated statutes labour act 11 of 2007 schedule. The following act which has been passed by the parliament and signed by the president in terms of the namibian constitution is hereby published in terms of article 56 of that constitution. Republic of namibia 1 annotated statutes regulations companies act 28 of 2004 companies administrative regulations, 2010. The companies act 2009 sierra leone legal information institute. Since the companies act, no 71 of 2008 companies act came into force on 1 may 2011, legal practitioners have grappled with a number of issues brought about by this new legislation. Distributions a few important points to consider by dommisse attorneys when considering distributions by a company, we most often think of cash dividends, being one form of return on investment for investors.

Enacted by the parliament of zambia part i preliminaryprovisions 1. The namibian companies act, act 28 of 2004 the act contains a number of provisions that will directly impact all companies, directors and officers. Namibian law namiblii nigerian law nigerialii sierra leone law sierralii south african law saflii seychelles law seylii. Inspection and copies of documents in registration office. Incorporation of companies and matters incidental thereto 3. Namibia s health and social service rev iew of 2008 revealed that the na mibian mohss had fragmented systems whi ch experienced the following chall enges. Securities regulation code on takeovers and mergers and the rules genn 312 in gg 26106 of 27 february 2004 cases federale nywerhede, ex parte 1975 1 sa 826 w nbsa centre, ex parte 19872 sa 449 w. Counsel interpretation of section 902 b of the companies act, 2008 the act on registered auditors.

The namibian companies act 28 of 2004, amended 2011, contains a numberof provisions that will directly impact all companies, directors and officers. It is hereby notified that the president has assented to the following act, which is hereby published for general information. The companies act 2017, 2017 zambia legal information institute. Companies amendment act 3 of 2011 act to provide for the incorporation, registration, organisation and management of companies, the capitalisation of profit companies, and the registration of offices of. Use the search box above to search through more than 10256. Capital rules in the companies act 71 of 2008 university of. Guidelines for corporate law reform may 2004, a policy document developed by the department of trade and industry the dti. Government notice 173 of 2010 gg 4536 came into force on 1 november 2010 regulation 65 as amended by. The namibian parliament in collaboration with the national planning commission and the delegation of the european union to the republic of namibia implemented a fiveyear parliamentary support programme during 20122017, funded by the 10th european development fund and implemented by konrad adenauer foundation and transtec project management. For guidance, the developers looked to south african company law for the 21st century. The companies act 2009 sierra leone legal information. Act 21996 gg 23 contains amendments to the deeds registries act 47 of 1937 which are consequential to the married persons equality act.

The companies act 71 of 2008 the companies act has introduced into south african company law, for the. Labour act 11 of 2007 gg 3971 brought into force with the exception of section 128 on 1 november 2008 by gn 260 2008 gg 4151. Deloitte namibia changes to the 2004 companies act made. The namibian companies act 28 of 2004, amended 2011, contains a numberof provisions that will directly impact all companies, directors.

Section 209 of the companies act permits a court to disregard the separate legal personality of a company and to. A significant change from the previous act of 1973 arises in section 45 relating to financial assistance. Signed by the president as amended by act to provide for. Most of the amendments made, however, relate to a modernisation of the act with wording amendments. Deloitte namibia changes to the 2004 companies act made in 2011. Most of the amendments made, however, relate to a modernisation of the act with wording amendments, from south west africa to namibia, to remove gender bias, to include namibian legislation. Jul 27, 2016 companies act, 71 of 2008 series part 7. The act replacesd the companies act, 61 of 1973 and came into effect on 1 may 2011. Amendment of development bank of namibia act, 2002 35. Short title and commencement be it enacted as passed by. The provisions of the act set the bar for competent directors at much higher levels than we have seen in the past. Of the republic of namibia legal assistance centre.

The companies act 2017, 2017 zambia legal information. As a result, the original prelisting statement and this supplementary prelisting statement do not comply with the substance and form requirements for prospectuses set out in the companies act and the. Companies act 71 of 2008 english text signed by the president assented to. Republic of south africa companies act, 2008 memorandum of. An application, in terms of section 3066 of the act, by a public company for exemption from the lodgement of annual financial statements of every private. The companies act financial assistance background the companies act 71 of 2008 the act came into effect on 1 may 2011. Chapter viii 208 251 directors chapter ix 252 268 remedies of members chapter ixa 268a268i secretary for public companies chapter ixa inserted by s. The companies act, 71 of 2008 the act expressly provides that the business and affairs of a company must be managed by or under the direction of the board of directors the board, which has the authority to exercise all of the powers and perform any of the functions of the company. However, to ensure consistency of responses to, and the overall quality of such research, this document provides guidance on the applicability of section 90 of the act and clarification on certain terminology used in section 902 b. However, ss 194 and 195 of the 2008 act bring something new to the table. The companies act, act 61 of 1973 the companies act, act 71 of 2008 the competition act, act 89 of 1998 the securities regulations panel.

Section 201 of the 2008 act has reinforced this approach to the contractual capacity of companies. Business and intellectual property authority authority act, 2016. Appointment of registrar, deputy registrar and delegation of power. The act was signed by the president on the 9th april 2009 and gazetted in gazette no.

Disqualifications, similar to companies act for directors meetings and decisions seven members constitutes a quorum six members or more present and voting constitutes a decision of the board board may invite persons with special skills knowledge to meetings, but these have no voting rights funded by money appropriated by parliament. Companies act, 2004 under section of the companies act, 2004 act no. The companies act 28 of 2004 gg 3362, brought into force on 1 november 2010 by gn 1722010 gg 4536, repeals sections 31 and 32. Application of companies act, banking institutions act, 1998, and other laws 4. Trevor manuel the then minister of finance raised concern regarding intragroup company loans without. Transfer of assets, rights, liabilities and obligations to agency 31. Corporations ccs until the companies act, 71 of 2008 came into force on 1 may 2011. Companies act 28 of 2004 gg 3362 brought into force on. It has a separate legal personality and its assets are completely separate from those of the members or. Companies act means the companies act 71 of 2008, as amended. Repeal of namibia development corporation act, 1993 34. This act may be cited as the companies act, 2017 and n.

Companies act 71, of 2008 legal and governance technical. Kyc private company a private company is a company with a share capital as defined in section 1 of the companies act. To provide for the incorporation, management and liquidation of companies. Sep 02, 2016 the companies act, 71 of 2008, as amended, the act regulates the provision of financial assistance by a company, either in respect of the acquisition of securities in that company in terms of section 44 of the act, or the provision of financial assistance to directors or prescribed officers of that company in terms of section. This booklet provides insight into how creditors may.