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Last Updated 17 April 2013 05:38:10 PM


       
 

The Companies Act, No 61 of 1973 was assented to on 19 June 1973 and the effective date was 1 January 1974. This Act consolidated the law relating to companies and has been amended from 1973 up to the present. The Companies Act, 1973 was amended by the Corporate Laws Amendment Act, No 24 of 2006.  This amendment introduces the concepts of widely held and limited interest companies.The SAICA Ad-hoc committee on Corporate Law compiled a Guide on the Corporate Laws Amendment Act. This Act has been replaced by the Companies Act 71, 2008 from 1 May 2011.

Although the Companies Act, 1973 was repealed certain provisions will continue to apply until the Minister of Trade and Industry publishes a notice in the Government Gazette. The sections that still apply include:

  • Chapter 14 of the Companies Act, 1973 applies with respect to the winding-up and liquidation of companies under the Companies Act, 2008
  • Despite the application of Chapter 14, sections 343, 344,346 and 348 to 353 do not apply to the winding-up of a solvent company except as stated in Chapter 2, Part G of the Companies Act, 2008
  • Should there be a conflict between a provision of the Companies Act, 1973 that continues to apply and the provisions of Chapter 2, Part G of the Companies Act, 2008, then the provisions of the new Act will apply

Legislation:

 
     
 
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