Most Read Contributor in South Africa, September 2016
On 28 October 2015, we
reported on the trumping provision of the Broad‐Based
Black Economic Empowerment Amendment Act 46 of 2013, which came
into force and effect on 24 October 2015.
The enforcement of the trumping provision created a lot of
uncertainty in the industry, especially as to the status of the
existing Sector Codes. This uncertainty has, however, since been
clarified by the Department of Trade and Industry (the
On 2 November 2015, the DTI announced that all Sector Charter
Councils now have until 15 November 2015 (extended from 30 October
2015) to submit their aligned Sector Codes to the Minister of Trade
and Industry for approval (ie, they need not be finally gazetted),
failing which such Sector Codes will be repealed. Once a Sector
Code has been repealed, entities operating in the affected sector
will be measured under the Codes of Good Practice (the
"Amended Codes"), which came into force and effect on 1
As previously stated, there may be severe implications for those
affected entities, which may have to be measured under the Amended
Codes, as opposed to the applicable Sector Code. Not only may this
be costly for such affected entities, but it could also have an
impact on their contributory level and, consequently, their ability
to obtain certain licences and approvals, or to be awarded certain
The content of this article is intended to provide a general
guide to the subject matter. Specialist advice should be sought
about your specific circumstances.
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In our article " Characteristics of the Commercial Agency Law of the United Arab Emirates" published with Mondaq on 27.09.2016, we outlined the general applicability of the UAE Commercial Agency Law (Federal Law No. 18 of 1981 including its amendments).
Ministerial Decision No. 124/2016 came into force on 27 April 2016 and, in summary, prohibits the registration of company names that are a proper noun or the collective name of a tribe with the letters "Al" preceding it...
It is without doubt that in-house collection offers some advantages because it can move swiftly to recover small debts.
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