The Companies Act (No. 71 of 2008), as now amended by the Companies Amendment Act (No. 3 of 2011), introduced many concepts, principles and rules that were foreign to South Africa’s common law. However, the new Act does not indicate clearly to what extent it replaces the common law. Corporate law for commerce students is thus a much-needed guide to the structure and fundamentals of the new company regime.
Corporate law for commerce students covers three types of business venture, namely partnerships, companies and close corporations, which each carry different rights and obligations, and ultimately liabilities, for the entrepreneur. It discusses, inter alia, how to choose the right option for a specific business; the partnership concept, the establishment of a legal personality; compliance, transparency and accountability; shares, securities, stock and debt instruments; fundamental transactions, takeovers and offers; business rescue and compromise with creditors; and termination and dissolution – all within the framework of the new Companies Act and the common law. It includes figures, tables and mind maps to clarify each topic, and provides assessments at the end of each chapter.
Corporate law for commerce students is aimed both at students who are studying Commercial Law, Business Entities or Corporate Law and practising accountants and auditors.