CAN GOVERNMENT ATTACH YOUR COMPANIE’S / CLOSE CORPORATION’S ASSETS. We think it is crucial for all directors and members with companies or close corporations to take urgent notice of this silent killer, perhaps just another way of the government to make money, but a very disturbing way. That is for sure. Since 2009 companies and close corporations have been urged to submit their annual returns on time to avoid being deregistered and on past occasions, extension have been granted to allow business entities to submit their overdue returns to avoid final deregistration. Should CIPRO have to deregister a company or close corporation, the entity will no longer be able to conduct business as it will no longer be a registered business in terms of the Companies Act and Close Corporations Act. Deregistration of a company or close corporation, may also result in freezing of the entity's bank account and the...
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Consumer Protection Act (CPA)
According to legal experts, the new Consumer Protection Act (CPA) will have a huge impact on virtually every business in South Africa, including the franchise sector. Franchisors will have to revisit their franchise agreements and insure that they comply with the Act, while franchises will have more protection than ever before.
- HOW WILL THE FRANCHISE INDUSTRY CHANGE DUE TO THE CPA?
- A ‘cooling off’ period of ten working days after signing the agreement,...
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