REPUBLIC OF SOUTH AFRICA

 

 

COMPANIES AMENDMENT BILL

 

[B10 – 2004]

(As agreed to by the Portfolio Committee on Trade and Industry

(National Assembly) (The English text is the official text of the Bill)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

[B10 A – 2004]

 

 

 

AMENDMENTS AGREED TO

COMPANIES AMENDMENT BILL

[B10 – 2004]

CLAUSE 3

 

 

 

  1. On page 3, in line 9, after the second "or" to insert "except for a body corporate".

  2. On page 3, in line 22, after "(bb)" to insert "the issue of".

  3. On page 3, in line 46, to omit "and" and to substitute "or".

  4. On page 3, from line 51, to omit all the words after "which" up to and including "company" in line 53 and to substitute "such person knew or could reasonably be expected to know of the disqualification".

  5. On page 3, after line 30, to add the following sub-paragraph:

(iii) A company notified in terms of sub-paragraph (ii), shall, within a period of 60 days from notification, inform its shareholders in writing of such notification.

CLAUSE 4

  1. On page 4, in line 20, to omit "and" and to substitute "or".

  2. On page 4, from line 24, to omit all the words after "which" up to and including "company" in line 26 and to substitute "such person knew or could reasonably be expected to know of the contravention".

  3. On page 4, after line 8, to add the following paragraph:

(b) A company notified in terms of paragraph (a), shall, within a period of 60 days from notification, inform its shareholders in writing of such notification.