New laws bringing big changes for businesses in South Africa – what you need to know
The new Companies Amendment Bill has been tabled before parliament, kicking off the process of making the changes for businesses in SA law. The new laws put a focus on addressing inequality, cutting red tape and rooting out corruption. By implementing the amendments, the government hopes to attract investors and also make the local economy more effective and efficient so it can create more jobs. Among other things, the amendments aim to provide for post-commencement finance for unpaid amounts that are due to the landlord during business rescue proceedings