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Company Bill 2004: Addressing Corporate Governance Issues

This presentation discusses the Company Bill, 2004 and its alignment with the state of the nation address. It aims to address problems related to corporate governance, investor confidence, and e-commerce. The Bill contributes to the objectives of the Department of Trade and Industry (dti) and the Corporate Law Reform Project. It provides an interim measure while permanent solutions are being developed.

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Company Bill 2004: Addressing Corporate Governance Issues

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  1. Moses MoeletsiChief Director: Policy and Legislation24 August 2003

  2. PRESENTATION ON COMPANY BILL, 2004 The Bill purports to: • Prevent companies having delinquent directors (sequestrated persons) to serve as directors. • Prevent companies to have unfit and improper directors to serve in the management of such companies. - Protect a bona fide holder of a dematerialized share certificate against a rectification order by a court of law.

  3. How does the Bill align to the state of the nation address? • The state of the nation’s address seeks to address: • good corporate law reform and good governance • problems related to two economies in South Africa • create investor confidence in the domestic market • activism of economic citizens in South Africa

  4. The Bill seeks to address issues of corporate governance, create investor confidence in domestic market and encourage economic citizens to participate in the economy.

  5. WHICH PROBLEMS DOES THE BILL SEEKS TO ADDRESS? • Good corporate law reform and governance. • Investor confidence in domestic markets. • Conducive environment for e-commerce (dematerialized share certificate). • Creation of a register of all sequestrated persons.

  6. How does the Bill talk to the dti’s objectives? • CCRD (the Bill) contribute towards providing accessible, transparent and efficient access to redress for economic citizens.

  7. How does the Bill talk to the CCRD’s objectives? • Fair, and transparent regulatory framework. • Creation of an investors confidence.

  8. CONCLUSION • The Bill provides for an interim measure. • The Corporate Law Reform Project will provide permanent solutions.

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