Companies Act delay

[MarkCorke]

There is a rumour doing the rounds that the new act which was due to come into play on 1 April has been delayed.

It is not clear whether this is because President Zuma has not signed it and is out of the country at the moment, or for some other reason.

Will it become effective hen he gets back, or when his deputy finds a pen; or has it been delayed indefinitely, as suggested by some?

[Nikki]

It would appear, from the attached that Zuma wants again, to apply his mind! He hasn't signed the bloody thing into law yet! Eish! MEDIA-RELEASE-COMPANIES-ACT-31-March-2011.pdf

[Tim]

It would appear, from the attached that Zuma wants again, to apply his mind!

I reckon there's a long line of people who'd like to apply Zuma's mind.

Tim

[Nikki]

Presuming he has a mind of course - therein lies the question!

[Ness]

Apparently the Department of Trade and Industries has recommended 1 May as the new date for implementation

[Nikki]

So basically what you are saying Ness is that it is going to take a month for him to firstly find his mind and then apply it?

[Ness]

Personal opinion, he thinks it will only take 1 month

The article I read where they quote the Dept of Trade and Industries actually skirts around the issue of why it has been delayed. I think it is more likely, reading between the lines, that they have had so many queries because possibly, and can this really be the case, this thing has not been thought through properly and there still are legal issues in it?

[Nikki]

Personal opinion, he thinks it will only take 1 month

The article I read where they quote the Dept of Trade and Industries actually skirts around the issue of why it has been delayed. I think it is more likely, reading between the lines, that they have had so many queries because possibly, and can this really be the case, this thing has not been thought through properly and there still are legal issues in it?

One of the things that I offer is the registration of Companies. We have been trying since the beginning of the year to get the correct documentation on which to register the new companies. The old documentation being the CK's for CC's and the CM's for a Pty. Nothing has been forthcoming and we have been given the run around. In fact yesterday we were told that the 'information required' in order to register whatever it is going to called from here on out, is pretty much generic with the information required for the 'old' registrations. That coupled with the fact that they are now running almost 10 weeks behind on everything that has been submitted to date, complicates the whole issue even more. Submissions made mid Jan are only coming through now!

So we have taken the information required on a Pty (it's a bit more extensive than a CC) and have compiled a generic 'questionnaire' so that we can get the name registrations done in the meantime (bear in mind that won't in itself happen before the 1st May) and then complete what ever documentation they dream up once Zuma has found his mind and applied it.

DTI are skirting the issue because they haven't found Zuma's mind yet and the GPS that they are using to track it has had to go in for repairs!

[MarkCorke]

I think I should apply for a mind as well.