http://www.bowman.co.za/RSS/RSS.asp Leading Corporate and Commercial South African law firm with professional lawyers en-US Copyright 2012 Bowman Gilfillan Inc. All Rights Reserved. Sun, 05 Feb 2012 06:00:00 GMT Law http://www.bowman.co.za/LawArticles/Law-Article.asp?id=2132417593 Closed-ended retail funds are CISs with a limited number of securities in issue. They are normally created as open-ended retail funds and then change into closed-ended retail funds. This normally happens when the fund has raised the required capital and the there are typically no more shares available from the fund for subscription (for example, in the case of a CIS in property). It is also important to note that there can be various other reasons why an open ended fund may become closed. In practice, both open-ended retail funds and closed-ended retail funds are subject to the same regulation. Wed, 25 Jan 2012 08:00:00 GMT http://www.bowman.co.za/LawArticles/Law-Article.asp?id=2132417593 http://www.bowman.co.za/LawArticles/Law-Article.asp?id=2132417592 Before the Collective Investment Schemes Act 2002 (CISCA) was enacted, a practice described as white labelling emerged with the CIS industry in South Africa. White labelling is the practice where a third party, who does not have the capacity or the intention to establish a CIS, requests a CIS manager to establish a portfolio in the name of the third party under the CIS manager's registered CIS. Wed, 25 Jan 2012 08:00:00 GMT http://www.bowman.co.za/LawArticles/Law-Article.asp?id=2132417592 http://www.bowman.co.za/LawArticles/Law-Article.asp?id=2132417591 To what extent does the state control mining rights in your jurisdiction? Can those rights be granted to private parties and to what extent will they have title to minerals in the ground? Are there large areas where the mining rights are held privately or which belong to the owner of the surface rights? Is there a separate legal regime or process for third parties to obtain mining rights in those areas? Tue, 24 Jan 2012 08:00:00 GMT http://www.bowman.co.za/LawArticles/Law-Article.asp?id=2132417591 http://www.bowman.co.za/LawArticles/Law-Article.asp?id=2132417590 South Africa ratified the United Nations Framework Convention on Climate Change (UNFCCC) in August 1997 and acceded to the Kyoto Protocol in July 2002. As South Africa is classified as a non-annex I country, it is not required to meet targets and timetables for emission reductions in the Kyoto Protocol's first stage of commitment, ending in 2012. Heavier burdens are placed on developed nations (or annex I countries) than on developing countries under the principle of 'common but differentiated responsibilities'. Tue, 24 Jan 2012 08:00:00 GMT http://www.bowman.co.za/LawArticles/Law-Article.asp?id=2132417590 http://www.bowman.co.za/LawArticles/Law-Article.asp?id=2132417589 The recent decision of the Competition Appeal Court ("CAC") in Senwes Limited v the Competition Commission (Case no. 87/CAC/ FEB09) imported into South African competition law the concept of a margin squeeze, affirming in principle the adoption of foreign jurisprudence when interpreting or applying the provisions of the Competition Act no. 89 of 1998 ("Competition Act"). While the order of the CAC was subsequently overturned by the Supreme Court of Appeal on jurisdictional grounds, the decision of the CAC insofar as it relates to introduction of a margin squeeze under section 8(c) of the Competition Act remains in effect. Fri, 06 Jan 2012 08:00:00 GMT http://www.bowman.co.za/LawArticles/Law-Article.asp?id=2132417589 http://www.bowman.co.za/LawArticles/Law-Article.asp?id=2132417588 The protection of advertisements and the standards to which they must adhere is governed by the Code of Advertising Practice as enforced by the Advertising Standards of Authority of South Africa. To my mind, the Dial Direct advertisement falls short of the provisions of clause 9 of the Code which provide that: "An advertiser should not copy an existing advertisement, local or international, or any part thereof in a manner that is recognizable or clearly evokes the existing concept and which may result in the likely loss of potential advertising value. This will apply notwithstanding the fact that there is no likelihood of confusion or deception or that the existing concept has not been generally exposed". Tue, 03 Jan 2012 08:00:00 GMT http://www.bowman.co.za/LawArticles/Law-Article.asp?id=2132417588 http://www.bowman.co.za/LawArticles/Law-Article.asp?id=2132417587 South Africa is one of the highest alcohol consuming countries in the world, as a result it has an alarming number of fatalities, serious injury to individuals and property which are caused by individuals driving whilst under the influence of alcohol on our public roads. A recent judgment of the Western Cape High Court by Judge Nathan Erasmus in the landmark test case relating to reliability of the Drager Alcoltest 7110 MK 111 has provided South Africa's law enforcement authorities with insight into the shortcomings of its operation of the Drager breathalyzer test. Whilst blood sampling is one of the most accurate forms to measure blood alcohol concentration, the correct use of breath alcohol testing is more economically advantageous and is able to provide reliable and instant results which aids in the effective prosecution of 'drunk driving cases'. Tue, 03 Jan 2012 08:00:00 GMT http://www.bowman.co.za/LawArticles/Law-Article.asp?id=2132417587 http://www.bowman.co.za/LawArticles/Law-Article.asp?id=2132417585 In terms of s 23 of the Companies Act 71 of 2008 (the Act), companies incorporated in jurisdictions outside South Africa are required to register as external companies with the Companies and Intellectual Property Commission (CIPC) within 20 business days of starting to conduct business in South Africa. Failure to register as an external company within three months of commencing business or non-profit activities in South Africa could result in the CIPC issuing a compliance notice to the foreign company requiring it to register within 20 business days of receipt of the notice. Alternatively, if it fails to register within this time, the CIPC may require the foreign company to cease carrying on business or activities in South Africa. Tue, 08 Nov 2011 08:00:00 GMT http://www.bowman.co.za/LawArticles/Law-Article.asp?id=2132417585 http://www.bowman.co.za/LawArticles/Law-Article.asp?id=2132417584 South African can private equity funds are increasingly exploring investment opportunities into the rest of Africa, and in particular sub-Saharan Africa. The reason for this is that the emerging markets have become attractive to South African private equity funds, with large growth capacity for investments in energy, infrastructure and mining. More attractive for investments in Sub-Saharan Africa includes low asset valuations, commitment to economic reforms, a gradually improving legal framework for investors and companies, decline in political conflict and wars in certain regions and its apparent robustness against the world financial crisis and economic recession. Tue, 08 Nov 2011 08:00:00 GMT http://www.bowman.co.za/LawArticles/Law-Article.asp?id=2132417584 http://www.bowman.co.za/LawArticles/Law-Article.asp?id=2132417583 South Africa continued to feel the effects of a sluggish global economy, albeit on a more limited basis as compared to the rest of the world. M&A activity started picking up in the early part of 2010 and this trend has continued in the first quarter of 2011. The uptick was more pronounced in cross-border deals in South Africa, inward investment into South Africa and general corporate restructurings. Many of the recent transactions (particularly in the resources sector) involved Chinese, Indian and Japanese parties. There were again relatively few black economic empowerment deals, which for a number of years provided great impetus to the South African M&A market. Tue, 08 Nov 2011 08:00:00 GMT http://www.bowman.co.za/LawArticles/Law-Article.asp?id=2132417583 http://www.bowman.co.za/LawArticles/Law-Article.asp?id=2132417582 In recognition of South Africa's economic position in Africa, legislative and policy changes have been adopted by the South Africa government over the period 2010-2011, in order to encourage direct foreign investments including through private equity. The African private equity industry has over the years shown significant growth and resilience when compared to similar industries among emerging and developed markets. Tue, 08 Nov 2011 08:00:00 GMT http://www.bowman.co.za/LawArticles/Law-Article.asp?id=2132417582 http://www.bowman.co.za/LawArticles/Law-Article.asp?id=2132417581 In finance, as with much else, the distinction between perception and reality is one without difference. As the developed financial markets attempt tentatively to make the transition from fragile to sound, emerging markets seem to have taken the driving seat. Our perception is that they have done so with aplomb. When markets contract, investors keep their money close to home. This stands to reason, since when investing gets risky, it makes sense to bet on a sure thing. Traditionally, domestic government bonds have been the dominant safe haven for investment. And why not? Wed, 19 Oct 2011 08:00:00 GMT http://www.bowman.co.za/LawArticles/Law-Article.asp?id=2132417581 http://www.bowman.co.za/LawArticles/Law-Article.asp?id=2132417580 There are a number of agencies or institutions in South Africa whose mandate includes the investigation of unlawful corporate conduct. The South African police have specialised units, most notably the Directorate of Priority Crime Investigation (known colloquially as 'the Hawks'), and the commercial crimes unit, which focuses on the investigation of more complicated white-collar crime offences. The police work closely with the National Prosecuting Authority, which is the body empowered to institute and prosecute criminal proceedings on behalf of the state. Tue, 18 Oct 2011 08:00:00 GMT http://www.bowman.co.za/LawArticles/Law-Article.asp?id=2132417580 http://www.bowman.co.za/LawArticles/Law-Article.asp?id=2132417579 South Africa is a signatory to the most significant global conventions against corruption and cross-border crime and has enacted a comprehensive domestic legislative framework specifically to give effect to those conventions and generally to facilitate the investigation and prosecution of unlawful conduct. Tue, 18 Oct 2011 08:00:00 GMT http://www.bowman.co.za/LawArticles/Law-Article.asp?id=2132417579 http://www.bowman.co.za/LawArticles/Law-Article.asp?id=2132417577 Overview of the construction and projects sector: What are the main trends in the local construction and projects market? What are the most significant deals? The construction and engineering environment is sophisticated (both from a legal and market perspective), and therefore procurement arrangements vary. An open or limited tender process is typically used (and generally required for public sector procurement), although negotiated procurement is not uncommon in the private sector. The most common procurement arrangement for road works, or commercial or residential building works is for an appointed single main contractor to construct the works. The contractor assumes full responsibility for all construction activities and the supply of all labour and materials (whether supplied by the contractor or by subcontractors). The contractor carries out the works according to the employer's design, under the direction of the employer's agent. The employer appoints the design team. Fri, 30 Sep 2011 08:00:00 GMT http://www.bowman.co.za/LawArticles/Law-Article.asp?id=2132417577 http://www.bowman.co.za/LawArticles/Law-Article.asp?id=2132417576 Upping the ante: administrative penalties after southern pipeline contractors and conrite walls (Pty) Ltd / competition commission On 4 August 2011, the Competition Appeal Court ("CAC") delivered judgment in an important case concerning the imposition of administrative penalties by the Competition Tribunal ("Tribunal") on firms that are guilty of the worst of competition law contraventions: the hard-core cartel behaviour of price fixing, market allocation or bid-rigging. Fri, 16 Sep 2011 08:00:00 GMT http://www.bowman.co.za/LawArticles/Law-Article.asp?id=2132417576 http://www.bowman.co.za/LawArticles/Law-Article.asp?id=2132417575 The fight against cartels: an evaluation of the current and prospective legislative framework for combating cartels in South Africa. Thu, 15 Sep 2011 08:00:00 GMT http://www.bowman.co.za/LawArticles/Law-Article.asp?id=2132417575 http://www.bowman.co.za/LawArticles/Law-Article.asp?id=2132417574 This Sibergramme, which is the last in the 2007 subscription year, deals with cases reported in the November 2007 issues of The South African Law Reports and The All South African Law Reports. Thu, 15 Sep 2011 08:00:00 GMT http://www.bowman.co.za/LawArticles/Law-Article.asp?id=2132417574 http://www.bowman.co.za/LawArticles/Law-Article.asp?id=2132417573 This Sibergramme deals with cases reported in October 2007 that have not already been considered in earlier issues, as well as dicta in Terminus Centre CC v Henry Mansell (Pty) Ltd & others [2007] 3 All SA 668 (C). Thu, 15 Sep 2011 08:00:00 GMT http://www.bowman.co.za/LawArticles/Law-Article.asp?id=2132417573 http://www.bowman.co.za/LawArticles/Law-Article.asp?id=2132417572 This Sibergramme deals with cases reported up to August 2007 that have not already been considered in earlier issues. Thu, 15 Sep 2011 08:00:00 GMT http://www.bowman.co.za/LawArticles/Law-Article.asp?id=2132417572