A Competitions Board is charged with preventing the creation or strengthening of monopolies. It is currently less aggressive in its approach to those responsibilities than, for example, its counterpart in the United States but there will be a new anti-trust law introduced, which is expected to be stronger and better enforced. There are regulations governing the conduct of business in various sectors of the economy such as finance (banks and other financial institutions must be licensed by the government) and manufacturing and mining (in which safety and other working conditions are subject to inspection by government bodies).
A Securities Regulation Panel exists. It has authority to regulate acquisitions and takeovers where there is a change of control. At present control is deemed to be the holding of more than 35% of the voting shares of the target company. Transactions extending shareholdings already over 35% but under 50% are in certain circumstances also subject to the Panel. The Panel's jurisdiction applies to all public companies and large private companies, but not to small private companies or close corporations. The Panel has published a Code and Regulations, which have the force of law. Copies of all relevant documents and announcements concerning transactions affected by the Code are required to be lodged with the executive director of the Panel for approval prior to issue. The Panel's powers include the power to compel the making of like offers to minorities or to reverse transactions which have been implemented. In appropriate circumstances the Panel will grant exemption from compliance with any or all of the provisions of the Code and Regulations.
For further information please contact:
Werksmans Chambers, 22 Girton Road, Parktown, Johannesburg 2193
P.O. Box 927, Johannesburg 2000 South Africa
Enquiries: Mr Charles Butler
Telephone 27 (011) 488-0000
Telefax 27 (011) 484-3100/3200
E-Mail Address email@example.com
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Employees must understand the notice periods stipulated by law. When an employee gives notice of their resignation to an employer, they is advising the employer that they will cease to work for the employer from a certain date.
Nigeria is a federal constitutional republic located on the west coast of Africa. Modern Nigeria has its origins as a British colony through the 19th and 20th century until it achieved independence in 1960.
The jurisprudential basis is pithily expressed as staying in sync with the global position on employment relationship, easily summed up as "International Labour Standard" and "International Best Practice".
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