https://www.webberwentzel.com//Pages/RSS-Feeds.aspx Webber Wentzel feed en-us Copyright 2020 Sun, 16 Aug 2026 18:54:09 +0200 Sample Code http://server/image.jpg https://www.webberwentzel.com//Pages/RSS-Feeds.aspx ef432067-2d6b-444f-81d2-3a21cde0e08c cc10437a-37ba-446f-b2cb-ef2b620206ad https://www.webberwentzel.com//News/Pages/From-inspection-to-liability-when-an-identified-risk-is-not-addressed.aspx In delictual claims against municipalities arising from an alleged failure to undertake proper maintenance within their area of jurisdiction, maintenance and inspection records often play a central role in determining liability. This was illustrated in the recent decision of Kgadi v Polokwane Local Municipality (1545/2020) [2026] ZALMPPHC. 2026-08-06T22:00:00Z c5720876-1c7b-4416-b8fb-05b42e7c1605 https://www.webberwentzel.com//News/Pages/How-long-will-your-visa-or-permit-take-home-affairs-releases-official-2026-2027-processing-times.aspx On 27 June 2026, the Department of Home Affairs (DHA) took a step towards greater transparency in South Africa's immigration system by issuing Immigration Circular No 08 of 2026 (the Circular). For the first time, the DHA has formally published the official performance targets and turnaround times for visa, permit, waiver and appeal applications for the 2026/2027 performance cycle. 2026-07-23T22:00:00Z da11bc3a-eade-406b-a1cd-27eb71ff4d8e https://www.webberwentzel.com//News/Pages/When-the-key-person-leaves-What-financial-services-businesses-need-to-know-about-restraints-of-trade.aspx When a senior advisor or executive walks out the door, especially to join a competitor, your restraint of trade clause is often the only thing standing between you and serious commercial damage. Here is what recent South African case law tells us about what works, what does not and what you need to do now. 2026-07-21T22:00:00Z f075f05a-cfad-4cbb-99ff-ffafc4145813 https://www.webberwentzel.com//News/Pages/ai-rest-my-case-ai-and-the-future-of-online-dispute-resolution.aspx The promise of Online Dispute Resolution (ODR), powered by artificial intelligence, is compelling: faster resolution, lower cost, greater consistency, and a process that scales. But before any corporate legal team rests its case in favour of AI-enabled ODR, it is worth understanding exactly what it is, where it works, and where it can go wrong.  2026-07-13T22:00:00Z 326aa069-dda9-42f6-9ab4-12104d023ed8 https://www.webberwentzel.com//News/Pages/cash-is-still-king-the-south-african-reserve-banks-cash-smart-strategy.aspx In a fast-evolving digital payments landscape, cash still continues to play a critical role in the South African economy. 2026-06-28T22:00:00Z fd2ec92c-f4af-4b2f-b19f-fe7ac757a76e https://www.webberwentzel.com//News/Pages/no-more-waffling-belgian-court-hands-banks-a-hard-ruling-on-fraud.aspx For years, banks have held the stronger hand in fraud disputes. A Belgian court has just reshuffled the deck. On 26 May 2026, the presiding judge of the Antwerp Business Court handed down what banking law specialists are already describing as a groundbreaking decision. 2026-06-25T22:00:00Z d721e9cf-be78-4d65-8763-49b3147c85c8 https://www.webberwentzel.com//News/Pages/delictual-exposure-in-road-maintenance-failures--.aspx Driving on South African roads often feels like a constant game of dodging potholes. When that game turns catastrophic, the question that arises is who bears the duty of reasonable steps to prevent such harm? 2026-06-24T22:00:00Z aaa3a4ed-1240-469d-9278-ab5c1fddda1c https://www.webberwentzel.com//News/Pages/the-scas-analysis-of-causation-in-suicide.aspx In a recent judgment handed down on 21 May 2026, the Supreme Court of Appeal (SCA) considered whether the Road Accident Fund (RAF) may be held liable for a dependant's loss of support claim where a deceased person, having suffered injuries in a motor vehicle accident, subsequently commits suicide. 2026-06-23T22:00:00Z dc98f2d6-c668-4c7e-ae90-fcf64be78486 https://www.webberwentzel.com//News/Pages/why-diesel-rebate-claims-are-lost-on-compliance-documents.aspx Four recent judgments show SARS targeting compliance failures rather than the underlying activity. 2026-06-14T22:00:00Z ceef74d0-cf7d-48e2-83fa-5c146c441cfd https://www.webberwentzel.com//News/Pages/disclosure-obligations-in-the-context-of-cross-border-directorships.aspx Section 75 of the Companies Act (the Act) provides that if a director has a personal financial interest (PFI), or knows that a related person has a PFI, in a matter to be considered at a board meeting, that director must disclose that interest and must subsequently recuse themselves from consideration of the relevant matter. 2026-06-07T22:00:00Z 02fb91b8-a861-485f-a2f1-4debf14d6907 https://www.webberwentzel.com//News/Pages/certainty-in-transfer-pricing-is-closer.aspx SARS has released its much-anticipated additional guidance on the Advanced Pricing Agreement (APA) programme, complementing the legislation issued in 2023. 2026-06-02T22:00:00Z 16a2471a-0f42-422d-a0cd-480ec6164686 https://www.webberwentzel.com//News/Pages/webber-wentzel-africa-white-collar-cross-border-guide.aspx We are proud to launch our White-Collar Crime & Forensic Investigations Guide, co-created with our trusted relationship firms across the continent. 2026-05-24T22:00:00Z bd2086a9-6b13-4e61-bf24-ee408b038505 https://www.webberwentzel.com//News/Pages/outcomes-based-bonds-as-africas-most-powerful-tool-for-solving-the-water-crisis.aspx Across the African continent, water infrastructure is under increasing strain. The compounding pressures of accelerating urbanisation, decaying legacy systems, climate change and chronic underinvestment in public infrastructure over decades mean that both the public and private sectors must urgently mobilise towards solutions. 2026-05-17T22:00:00Z 00a9e0fb-ec35-4a88-b984-335ec72281c3 https://www.webberwentzel.com//News/Pages/zep-to-permanent-residence-charting-the-right-course.aspx There remains a degree of uncertainty as to whether holders of Zimbabwean Exemption Permits (ZEP) may access South African permanent residence (SA PR) through a dedicated or expedited process. This update confirms the current legal position. At present, no published policy, directive, or gazetted amendment establishes a dedicated route to SA PR for ZEP holders. ZEP holders wishing to obtain SA PR must transition to a mainstream temporary residence visa and qualify under the existing statutory framework. 2026-05-17T22:00:00Z e5ab26e1-024b-42c1-a5f3-4fa426afc72c https://www.webberwentzel.com//News/Pages/when-ai-rejects-insurance-claims.aspx Artificial intelligence (AI) is no longer a distant prospect for the insurance industry, it is already embedded in operations, making decisions, and generating litigation. Insurers globally are integrating AI tools into their claims processes, promising faster determinations, improved efficiency, and greater consistency. 2026-05-14T22:00:00Z 901ee295-d3bf-4adb-9104-03d272b1b51f https://www.webberwentzel.com//News/Pages/when-ignorance-is-no-defence-and-tax-benefit-need-not-be-obtained-directly-the-constitutional-courts-gaar-judgment-in-absa.aspx The Constitutional Court's judgment in Absa Bank Ltd and Another v Commissioner for the South African Revenue Service [2026] ZACC 15, handed down on 22 April 2026, is the first interpretation of the General Anti-Avoidance Rules (GAAR) in sections 80A to 80L of the Income Tax Act 58 of 1962 at this level since those provisions were introduced in 2006. 2026-05-12T22:00:00Z 475c8296-dca2-46bb-ad65-7887bc403001 https://www.webberwentzel.com//News/Pages/opting-out-the-amendment-to-the-consumer-protection-act-regulations.aspx Unsolicited direct marketing, including spam calls, SMSs, and messaging via digital platforms has become a persistent issue for consumers in South Africa, who are increasingly exposed to high volumes of unwanted communications. 2026-04-19T22:00:00Z c5498307-ae53-4fe6-b958-7769e92d7588 https://www.webberwentzel.com//News/Pages/sars-wins-at-the-constitutional-court-then-changes-the-rules-the-medtronic-interest-relief-saga.aspx In a striking twist of tax policy, the 25 February 2026 Budget Speech announced a proposed legislative amendment that appears to directly contradict the position that the South African Revenue Service (SARS) pursued all the way to the Constitutional Court, at significant cost to the taxpayer, Medtronic International Trading S.A.R.L. and ultimately to the fiscus. 2026-03-02T22:00:00Z baa9ae75-d927-46df-b0a4-1af499dfc624 https://www.webberwentzel.com//News/Pages/who-is-to-blame-when-ai-defames.aspx The rise of generative AI has also given rise to an increase in litigation based on false results which cause harm to a person's reputation. Defamatory output is sometimes caused by generative AI, and at other times, AI can be used to create false impressions about a person, as in the case of deepfakes. 2026-02-23T22:00:00Z 42687f58-f816-43d3-a077-5b93043150f7 https://www.webberwentzel.com//News/Pages/dismissal-of-foreign-national-employees-without-appropriate-work-visas-legal-incapacity-not-retrenchment.aspx Recent blitz inspections by the Department of Home Affairs (DHA) and other enforcement authorities have placed employers under increasing pressure to address non-compliance with immigration laws. Where inspections reveal that foreign national employees lack valid work authorisation, employers may be compelled to take immediate remedial action, including terminating employment relationships that have become unlawful. 2026-02-23T22:00:00Z 3dddc422-b05e-469b-b1f0-e0aeea533444 https://www.webberwentzel.com//News/Pages/changes-proposed-to-bbbee-rules-on-transformation-fund-and-preferential-procurement.aspx On Thursday, 29 January 2026, the Minister of Trade, Industry and Competition published draft changes to the broad-based black economic empowerment (B-BBEE) Codes of Good Practice (Codes) regarding the proposed Transformation Fund and changes to the way that preferential procurement is measured to incentivise businesses to buy from suppliers that are wholly owned by Black people. 2026-02-02T22:00:00Z 78ee76cf-0227-4754-b9dd-df1a3bc26d35 https://www.webberwentzel.com//News/Pages/employers-now-subject-to-dual-enforcement-for-non-payment-of-benefit-fund-contributions.aspx The Minister of Employment and Labour (the Minister) has withdrawn a long-standing exemption that previously shielded employers from labour law enforcement regarding deadlines for payment of benefit fund contributions. This change strengthens the enforcement framework and creates additional compliance obligations for employers. 2026-01-18T22:00:00Z de08602e-e3f4-471f-a47a-a4ea1a12a60f https://www.webberwentzel.com//News/Pages/remote-work-and-pe-what-the-oecds-new-framework-clarifies-and-what-it-leaves-unresolved.aspx The OECD Commentary on the Model Tax Convention (Commentary) November 2025 guidance on home office permanent establishment (PE) clarifies when a home or remote location may constitute a fixed place of business PE under Article 5(1). 2026-01-13T22:00:00Z ad234892-0c86-428d-aa98-43d4b59af115 https://www.webberwentzel.com//News/Pages/the-case-for-inclusive-road-maintenance-in-johannesburg.aspx How we access our homes, places of work, friends, family, hospitals and other critical services in Johannesburg depends, in one way or another, on the municipality's road infrastructure. 2025-12-16T22:00:00Z 53629572-b536-4a7d-bf93-9dfaac904d68 https://www.webberwentzel.com//News/Pages/when-privacy-is-mistaken-for-defamation-national-union-of-metal-workers-of-south-africa-v-b.aspx It is easy to understand why privacy and defamation often become tangled in public discourse and even in litigation. Both involve publishing information about a person. Both can cause deep personal harm, provoking humiliation, anger and a profound sense of invasion. 2025-12-07T22:00:00Z d1553173-47da-48f0-9f22-90879aaafe05 https://www.webberwentzel.com//News/Pages/draft-payments-industry-documents-published-for-public-comment.aspx In meeting its policy commitments and addressing the regulatory amendments required to implement the Payments Ecosystem Modernisation (PEM) Programme, the South African Reserve Bank (SARB) published two draft documents for public comment. 2025-11-18T22:00:00Z db196916-d554-413a-9bf4-12a21f0de7f5 https://www.webberwentzel.com//News/Pages/no-way-out-mediation-is-not-optional-in-the-gauteng-division-of-the-high-court.aspx With effect from 22 April 2025, the Gauteng Division of the High Court has introduced mandatory mediation before civil trials. This requires parties to first undergo mediation before they can apply for a trial date. 2025-11-17T22:00:00Z 5e94a9e6-a776-4701-b6cc-6d5ce757a356 https://www.webberwentzel.com//News/Pages/navigating-phase-two-of-carbon-tax-amendments-allowance-reform-and-offset-expansion.aspx Phase Two of the carbon tax will be implemented from 1 January 2026 until 31 December 2030 (Phase Two). 2025-11-17T22:00:00Z 546e78a8-ce0a-40db-9708-27eea1f4c989 https://www.webberwentzel.com//News/Pages/south-africas-prudential-authority-issues-updated-climate-related-disclosure-guidance-for-banks-and-insurers.aspx Climate risk management requires ongoing capacity building and capability development, especially for banks and insurers that are highly susceptible to climate-related risks. The South African financial sector is particularly exposed to both financial and non-financial impacts as a result of exposure to climate-sensitive sectors. 2025-11-10T22:00:00Z 5ef0dec3-7dbf-40cc-baba-c63061a79e3d https://www.webberwentzel.com//News/Pages/beyond-umk-cc-a-good-cause-for-high-court-tax-litigation.aspx The Constitutional Court (CC) in United Manganese of Kalahari (Pty) Limited v CSARS and Others (CCT 72/24) (31 March 2025) (UMK) has fundamentally reshaped the jurisdictional framework for High Court tax litigation in South Africa. The judgement replaced the current restrictive "exceptional circumstances" test in section 105 with a more flexible "good cause" standard, creating new strategic opportunities for litigants. 2025-11-09T22:00:00Z 37d75ca4-2092-467f-8dbb-bc183f763ecd https://www.webberwentzel.com//News/Pages/the-fintech-future-revolutionising-the-african-financial-services-landscape.aspx Africa’s fintech sector is evolving from isolated national systems into a regionally connected ecosystem which hope to bring the continent closer. As start-ups, traditional financial institutions and investors look beyond domestic markets, the conversation is shifting from innovation to integration - and from competition to connectivity. 2025-11-09T22:00:00Z 0544ed06-4110-4e69-a5ba-69a235e347ba https://www.webberwentzel.com//News/Pages/bnpl-payment-method-vs-credit-agreement-which-is-it-and-can-it-be-both.aspx Buy now pay later (BNPL) is an agreement for the sale of a product where the seller allows the payment to be extended over a specific period of time. These options generally offer interest-free instalments, although fees or interest may apply if payments are missed or delayed. 2025-11-06T22:00:00Z b0798daf-0f75-4ffe-b951-615ed46840a1 https://www.webberwentzel.com//News/Pages/casting-caution-to-calderbank.aspx The Supreme Court of Appeal (SCA) handed down its judgment on 16 October 2025 in the case of Itokolle-Clinix Private Hospital (Pty) Ltd v MNT obo DORM (863/2024) [2025] ZASCA 153. This judgment should serve as a caution for defendants when faced with a Calderbank offer. 2025-11-05T22:00:00Z 998e9094-db04-4928-991f-593700717f9c https://www.webberwentzel.com//News/Pages/from-headline-to-effective-navigating-phase-two-with-offsets-as-a-tax-asset.aspx The carbon tax (as defined in section 1 of the Carbon Tax Act 15 of 2019 (CTA) is a tax on the carbon dioxide (CO2) equivalent of greenhouse gas emissions. It is imposed in terms of section 2 of the CTA at the applicable carbon tax rate, which escalates annually in the amounts as set out in section 5 of the CTA. 2025-11-03T22:00:00Z 6abcf7ae-3076-40cc-af2b-8d509aa26038 https://www.webberwentzel.com//News/Pages/a-national-payments-utility-the-egyptian-case-study.aspx The recent PASA International Payments Conference (PIPC), held in Johannesburg on 16 and 17 October, offered valuable insights and sparked anticipation for the future of payments in South Africa. 2025-10-29T22:00:00Z 77c5a920-4faa-4d06-85f1-a5c969759a56 https://www.webberwentzel.com//News/Pages/bitcoin-vs-1961-why-south-africas-crypto-crackdown-just-hit-a-legal-wall.aspx When the Supreme Court of Appeal (SCA) hears the appeal of the High Court’s Standard Bank v SARB decision in 2026, the court will determine whether the 1961 Exchange Control Regulations (Regulations) can be stretched to apply to a borderless, digital asset such as Bitcoin. 2025-10-28T22:00:00Z bbf7a03d-4a69-4645-975a-eeb85d79cc72 https://www.webberwentzel.com//News/Pages/navigating-change-of-control-legal-and-commercial-considerations.aspx In a South African company law context, a change of control refers to the acquisition or establishment of direct or indirect control over the whole or a part of another company’s business. 2025-10-28T22:00:00Z 6bac81af-f581-4b00-b41e-0ebfd95cbbad https://www.webberwentzel.com//News/Pages/sa-delisted-what-comes-next.aspx The Financial Action Task Force's (FATF) confirmed at its Plenary held during the week of 20 – 24 October 2025 that South Africa has been removed from the FATF's greylist. 2025-10-26T22:00:00Z 30a9013d-9efd-4809-90f8-c4b5dc8f9150 https://www.webberwentzel.com//News/Pages/the-mythical-life-of-a-south-african-taxpayer.aspx If South African tax were a fable, it would feature three enduring characters: the weary taxpayer, the watchful SARS, and the elusive concept known as certainty. All three appear in our legislation, but only one consistently shows up in practice — SARS. 2025-10-20T22:00:00Z 3f544c69-de9b-4402-bc0f-8e8b2c3e95b2 https://www.webberwentzel.com//News/Pages/parental-leave-in-financial-services-navigating-the-van-wyk-judgment.aspx On 3 October 2025, the Constitutional Court handed down a unanimous ruling in Van Wyk v Minister of Employment and Labour and Others, confirming that South Africa's statutory four months and 10 days of parental leave may be shared between both parents. 2025-10-16T22:00:00Z b3ac7f06-afe8-48ac-841c-2cf1161d2b13 https://www.webberwentzel.com//News/Pages/the-landmark-parental-leave-judgment-cementing-all-classes-of-parents-as-equal-participants-in-their-childrens-lives.aspx On 3 October 2025, the Constitutional Court handed down a unanimous ruling in Van Wyk v Minister of Employment and Labour and Others, confirming that South Africa's statutory four months and 10 days of parental leave may be shared between both parents. 2025-10-14T22:00:00Z eb146fc5-1f8a-446a-b282-48f6a5219dee https://www.webberwentzel.com//News/Pages/practical-implication-of-the-revised-fic-guidance-note-7a.aspx In line with South Africa's attempts to get off the Financial Action Task Force's (FATF) greylist, the Financial Intelligence Centre (FIC) issued the Revised Guidance Note 7A (revised GN 7A) on 1 September 2025. 2025-10-02T22:00:00Z a1125d92-440b-445a-8541-9f7d5c5d8241 https://www.webberwentzel.com//News/Pages/beyond-the-contract-hr-focus-and-the-commercial-reality-test.aspx The recent High Court judgment in CSARS v HR Focus CC fundamentally clarifies when payroll administrators become liable for skills development levies (SDL) and value-added tax (VAT). 2025-10-01T22:00:00Z 0d02212f-813a-4e3d-b0ab-b424f4cf6b7b https://www.webberwentzel.com//News/Pages/national-treasurys-vicious-crackdown-on-cis-tax-avoidance.aspx National Treasury has proposed three major amendments affecting portfolios of Collective Investment Schemes (CISs) in the draft Taxation Laws Amendment Bill, 2025 (TLAB). 2025-09-14T22:00:00Z 2aee6882-6c06-4e2b-a1e9-b4c5d44e2909 https://www.webberwentzel.com//News/Pages/effective-immediately-how-the-finalised-code-of-good-practice-on-dismissals-reshapes-employer-obligations.aspx The Code of Good Practice on Dismissals (COP), published in the Government Gazette on 4 September 2025, introduces significant developments to Schedule 8 of the Labour Relations Act, 1995 (LRA). 2025-09-08T22:00:00Z 166a9a6f-4b23-4c82-a82a-0483580fea52 https://www.webberwentzel.com//News/Pages/virtual-assets-regulation-in-southern-africa-a-regional-comparative-analysis-article.aspx The digital revolution is reshaping the global financial landscape, with virtual assets emerging as a powerful force in how financial transactions are conducted. 2025-09-03T22:00:00Z 32127093-3520-4bbb-a9ad-01bb32a33c18 https://www.webberwentzel.com//News/Pages/a-test-of-organisational-integrity-protecting-people-protecting-employers-and-rethinking-how-to-handle-harassment-in-the-workplace.aspx Harassment in the workplace, particularly sexual harassment, continues to challenge organisations across industries. While laws and policies provide a framework for handling complaints, the way cases are managed in practice often determines whether employers truly protect their people and themselves. 2025-09-03T22:00:00Z 71246a15-86c2-43f8-abbc-7bc75ed26730 https://www.webberwentzel.com//News/Pages/new-draft-tax-bill-hides-a-stealth-tax-in-your-unit-trust-investments.aspx For millions of South Africans, a unit trust or a portfolio of a Collective Investment Scheme (CIS) is one of the pillars of their financial future, serving as a vehicle for retirement savings, children's education funds, and long-term wealth creation. 2025-09-02T22:00:00Z 2df5a2b9-019c-4451-a0e3-ebfff2d09eac https://www.webberwentzel.com//News/Pages/turning-tariffs-into-strategy-south-africas-competition-law-pivot.aspx On 2 April 2025, the United States (US) administration issued an executive order imposing a baseline 10% import duty on nearly all goods entering the US. Higher country specific tariff rates were also applied, with South Africa subject to a 30% duty. 2025-09-01T22:00:00Z 2d300bdd-56dd-4999-8fcf-921aab7772a8 https://www.webberwentzel.com//News/Pages/practical-considerations-when-implementing-esop-and-hdp-transactions.aspx Employee share ownership programmes (ESOPs) and HDP (historically disadvantaged persons) transactions have gained prominence in the context of mergers and acquisitions, where the South African competition authorities have increasingly conditionally approved mergers subject to ESOPs or HDP transactions to address public interest concerns. 2025-08-27T22:00:00Z 873db22e-fbf8-4c67-8947-e2f7cc8eebca https://www.webberwentzel.com//News/Pages/fsca-publishes-new-conduct-standard-for-collective-investment-scheme-managers.aspx The Financial Sector Conduct Authority (FSCA) has published Conduct Standard 3 of 2025 (CIS), titled Requirements for Managers of Collective Investment Schemes (the Conduct Standard), together with a Statement of Need and Impact and a Consultation Report. The Conduct Standard was published on 14 August 2025 and will come into effect 12 months after the date of publication (ie on 15 August 2026). 2025-08-21T22:00:00Z cd1d2c8a-5c55-4d1a-89da-53ff0315b679 https://www.webberwentzel.com//News/Pages/navigating-the-global-tide-how-african-businesses-can-thrive-under-mandatory-human-rights-due-diligence.aspx Since the unanimous endorsement of the United Nations Guiding Principles on Business and Human Rights (UNGPs) by the UN Human Rights Council in 2011, a new era of socially responsible and sustainable business has taken shape and continues to build momentum. 2025-08-20T22:00:00Z 8b24a03a-cdae-4eb2-848d-557d3fc20357 https://www.webberwentzel.com//News/Pages/draft-amendments-to-the-affordability-assessment-regulations-under-the-national-credit-act.aspx On 13 August 2025, the Department of Trade, Industry and Competition published the draft National Credit Act Amendment Regulations (Amendment Regulations) in the Government Gazette, proposing amendments to various Regulations under the National Credit Act 34 of 2005 (NCA), including Regulations 18,19 and 23A. 2025-08-17T22:00:00Z b1ce69fb-5736-4675-9181-c177fea8dddd https://www.webberwentzel.com//News/Pages/the-fsca-ushers-in-a-new-era-for-pension-fund-administrators-after-23-years.aspx The Financial Sector Conduct Authority (FSCA) has published Conduct Standard 2 of 2025 (the 2025 Standard), setting out reformed conditions for pension fund benefit administrators under section 13B(1) of the Pension Funds Act, 1956. 2025-08-14T22:00:00Z 9396f785-4aef-45de-bbce-f4acaa39a4f9 https://www.webberwentzel.com//News/Pages/ndas-and-workplace-harassment-south-africas-existing-legal-protections.aspx Non-disclosure agreements (NDAs) have been widely criticised for silencing victims of workplace harassment in several jurisdictions. 2025-08-14T22:00:00Z 1c226afb-04c3-453e-8095-cffac8face5a https://www.webberwentzel.com//News/Pages/the-cofi-bill-what-financial-institutions-need-to-know.aspx Once enacted, the much-anticipated Conduct of Financial Institutions Bill (COFI) will introduce a significant shift in the legislative and regulatory landscape of South Africa’s financial services sector. 2025-08-13T22:00:00Z 7eaf63e7-ca0b-49a6-91d5-865223447905 https://www.webberwentzel.com//News/Pages/a-new-paradigm-for-executive-dismissals-analysing-the-proposed-amendments-to-the-lra-on-remedies-for-high-icome-employees.aspx The South African labour law landscape may be on the cusp of a significant shift with the proposed amendments to the Labour Relations Act 66 of 1995 (LRA), as detailed in the final National Economic Development Labour Council (Nedlac) report on the Labour Law Reform Process. 2025-08-04T22:00:00Z 78fbfea8-00e5-4202-932a-d162082261f1 https://www.webberwentzel.com//News/Pages/mauritius-reborn-navigating-the-new-anti-corruption-landscape.aspx Mauritius has embarked on its most ambitious anti-corruption reform in decades. The establishment of the Financial Crimes Commission (FCC), along with new legal liabilities, suggest a paradigm shift. 2025-07-28T22:00:00Z 440b536e-7b10-4feb-909d-1284715d6a34 https://www.webberwentzel.com//News/Pages/virtual-assets-regulation-in-southern-africa-a-regional-comparative-analysis.aspx Virtual Assets, digital assets, crypto assets all refer to the same concept, namely a digital representation of value. This guide examines the development of the regulatory regime for virtual assets across the southern region of Africa. 2025-07-28T22:00:00Z 55486e9f-aa6c-492a-8b45-7b4725e42336 https://www.webberwentzel.com//News/Pages/beyond-the-balance-sheet-contextualising-the-costs-and-benefits-of-b-bbee.aspx The current media debate around Broad-Based Black Economic Empowerment (B-BBEE) has brought fresh attention to the policy’s impact on the economy – raising important questions about its effectiveness, costs and outcomes. 2025-07-23T22:00:00Z cce21443-8257-4f9e-b1ba-b0bbc856360c https://www.webberwentzel.com//News/Pages/employers-failure-to-comply-with-employment-laws-renders-a-foreign-nationals-dismissal-unlawful.aspx In a recent judgment of the Eastern Cape High Court, Mthatha (Court), the Court declared the dismissal of a foreign national employee unlawful, despite the individual’s failure to have a valid work visa. 2025-07-15T22:00:00Z e86d434a-4031-4af0-81c9-87d56da447c4 https://www.webberwentzel.com//News/Pages/part-1-esg-disclosure-requirements-for-financial-institutions-in-south-africa-a-2025-update.aspx Environmental, social, and governance (ESG) considerations have become increasingly important for organisations globally, including financial institutions in South Africa. 2025-07-14T22:00:00Z 67d7f8b2-8d14-4d84-99c4-b6ba97d11299 https://www.webberwentzel.com//News/Pages/update-usa-tariffs-to-increase-again-on-south-african-imports.aspx On 7 July 2025, President Donald Trump of the United States of America (USA) announced, in a letter addressed to President Cyril Ramaphosa, that a tariff rate of 30% "on any and all South African products sent into the United States" will be imposed from 1 August 2025. 2025-07-10T22:00:00Z b682a12a-7725-47e7-9dc6-3fde825352c1 https://www.webberwentzel.com//News/Pages/key-themes-influencing-african-infrastructure-development-in-2025.aspx In 2025 Africa's infrastructure landscape is being impacted by recent changes in the world economy including a tightening infrastructure financing environment; rapid population growth, increasing urbanisation, technological advances and changes in the geo-political landscape. 2025-07-01T22:00:00Z 71bc72ea-27c6-481e-8303-157ed7267e37 https://www.webberwentzel.com//News/Pages/how-the-western-cape-high-court-got-subrogation-wrong.aspx In June 2025, the Western Cape Court handed down a judgment on subrogation that changes established legal principles and settled practice. The Court held that an insurer exercising its subrogation rights must specifically disclose and plead subrogation and be cited as a party to any civil proceedings. 2025-06-30T22:00:00Z f138ef04-560b-4ef9-89c0-ebf3915e88b1 https://www.webberwentzel.com//News/Pages/navigating-the-future-of-south-africas-national-payment-system-regulatory-framework.aspx In meeting its policy commitments and addressing the regulatory challenges that come with the rising prominence of non-bank payment operations, the South African Reserve Bank (SARB) published two draft documents in the first quarter of 2025. 2025-06-24T22:00:00Z d3e0f224-d714-410a-abb8-65fa46986e3c https://www.webberwentzel.com//News/Pages/the-value-of-battery-energy-storage-bess-in-the-future-energy-grid.aspx Is what happened to Blue Nova reflective of South Africa's BESS market? 2025-06-11T22:00:00Z 644e6408-1a9c-4fbb-9af2-1dafc3fda1b5 https://www.webberwentzel.com//News/Pages/knoetze-v-botes-developers-cant-hide-behind-exemption-clauses.aspx In Knoetze v Botes, the High Court clarified the limits of exemption clauses in property sale agreements, commonly referred to as voetstoots clauses, particularly where the seller is also the developer and fails to disclose a latent defect. 2025-06-11T22:00:00Z 2ff4e335-d736-45e2-9948-fc0241cfec05 https://www.webberwentzel.com//News/Pages/a-walk-around-the-block-an-overview-of-recent-block-exemptions.aspx In recent months, the Minister of Trade, Industry, and Competition has published several block exemption regulations in terms of section 10(10) of the Competition Act, 1998. 2025-06-11T22:00:00Z b713733d-3cbf-4c48-8bc0-53deb72094b8 https://www.webberwentzel.com//News/Pages/buy-now-panic-later-a-legal-deep-dive-into-south-africas-payment-revolution.aspx Buy Now, Pay Later (BNPL) payment options have strutted onto South Africa’s financial runway with the swagger of innovation, offering interest-free instalments, bypassing traditional credit checks, and boasting sleek user interfaces that make old-school lay-bys look prehistoric. 2025-05-29T22:00:00Z d1aec5b6-dbc5-4fee-b6a2-741638e25fc3 https://www.webberwentzel.com//News/Pages/competition-commission-draws-distinction-between-pure-internal-restructurings-and-minority-shareholder-transactions.aspx The Competition Commission recently published guidelines aiming to provide clarity on whether internal restructurings require prior approval from the competition authorities. 2025-05-29T22:00:00Z 1516a557-9415-4032-ad8e-28ba1d02ec21 https://www.webberwentzel.com//News/Pages/is-your-financial-institution-ready-for-the-new-employment-equity-targets.aspx The transformation imperative in South Africa’s financial services sector has reached a critical juncture with the recent amendments to the Employment Equity Act 55 of 1998 (EEA), which came into effect on 15 April 2025. 2025-05-28T22:00:00Z b54a61bb-6a70-419c-8d4d-c24572672889 https://www.webberwentzel.com//News/Pages/mind-the-gap-municipal-liability-and-the-hidden-dangers-beneath-our-feet.aspx A recent High Court judgment (Yende v City of Johannesburg Metropolitan Municipality and Another) offers important insights into the evolving jurisprudence on municipal liability for injuries caused by defective public infrastructure. 2025-05-18T22:00:00Z 44027102-63ff-470b-a601-60aa8b4af784 https://www.webberwentzel.com//News/Pages/caution-to-motorists-the-case-of-simayile-sigijimi-v-road-accident-fund.aspx The Western Cape Division of the High Court recently delivered a significant judgment in Noluvuyo Simayile-Sigijimi v Road Accident Fund, highlighting key issues of negligence and liability in pedestrian-related road accident claims. 2025-05-18T22:00:00Z 7496b250-fcd1-4852-bf3c-fc107fcb0591 https://www.webberwentzel.com//News/Pages/asset-forfeiture-and-unlawful-money-schemes.aspx South Africa has no shortage of unlawful financial and investment schemes. In recent years, numerous pyramid, Ponzi, multiplication, and other fraudulent and unlawful schemes have appeared in news headlines as the subject of investigations and legal proceedings. 2025-05-18T22:00:00Z 1ed8ea46-877a-4659-9076-93fa715dfc1f https://www.webberwentzel.com//News/Pages/merging-ahead-navigating-south-africas-complex-competition-landscape.aspx The last quarter of 2024 and the beginning of 2025 were marked with a flurry of activity by the South African competition authorities, which signalled a shift from their recent overemphasis on public interest effects of mergers, to age-old competition considerations. 2025-05-15T22:00:00Z 8a62d9c3-4d57-4e77-8894-1fa1387a0a63 https://www.webberwentzel.com//News/Pages/honesty-is-the-best-and-paramount-to-your-policy-mavela-v-outsurance.aspx In the recent case of Mavela v Outsurance Insurance Company Limited, the High Court (Free State Division, Bloemfontein) considered an insurer's right to reject a claim where the insured misrepresented facts and/or failed to provide accurate and complete information. 2025-05-04T22:00:00Z dc8d9e63-ee33-408d-a849-056d37d40872 https://www.webberwentzel.com//News/Pages/understanding-employers-pension-fund-obligations-directors-personal-liability-for-unpaid-pension-contributions.aspx In today’s challenging economic climate, many companies face financial distress and even insolvency. However, recent legal developments make it clear that financial hardship is no excuse for failing to meet statutory obligations, particularly the obligation to pay over retirement fund contributions deducted from employees' salaries. 2025-04-28T22:00:00Z d85bf3b6-adbc-4435-881c-cabc2ef304ae https://www.webberwentzel.com//News/Pages/under-pressure-navigating-financial-regulatory-heat-in-south-africa-in-2025.aspx We explore key regulatory trends shaping South Africa’s legal and compliance landscape in 2025 and offer practical guidelines on how businesses can navigate them. 2025-04-22T22:00:00Z 703271a4-999b-4838-89e9-32421d959336 https://www.webberwentzel.com//News/Pages/fsca-proposes-new-reporting-and-disclosure-requirements-for-short-sales.aspx Following extensive industry feedback on the draft conduct standard regarding the reporting and disclosure of short sales, published in March 2023, the FSCA has engaged with targeted stakeholders and published a revised version for a second round of public consultation. Comments should be submitted until 19 May 2025. 2025-04-15T22:00:00Z 806237f4-b425-4adc-8dec-2087f046c4e1 https://www.webberwentzel.com//News/Pages/update-90-day-pause-on-increased-us-tariffs-for-south-african-goods.aspx On 9 April 2025, the President of the United States of America, Donald Trump, announced a 90-day “pause” on the implementation of most increased tariff rates. 2025-04-13T22:00:00Z 87eee5ac-2970-4a10-a280-bf1b221fbc0c https://www.webberwentzel.com//News/Pages/employers-failure-to-intervene-renders-female-pastor-successful-in-constructive-dismissal-claim.aspx A recent Labour Court judgment confirms that where employers fail to properly address grievances or mitigate the cause of an employee’s complaint, a constructive dismissal claim may succeed. 2025-04-13T22:00:00Z 95626038-7c1e-4d2f-8294-71e76cea970e https://www.webberwentzel.com//News/Pages/usa-tariffs-increase-on-south-african-imports.aspx On 2 April 2025, the President of the United States of America (USA), Donald Trump, issued an executive order imposing an additional 10% import duty on nearly all imports into the USA. 2025-04-03T22:00:00Z 432501cb-a054-41ce-aaa7-9403eb0a1dbc https://www.webberwentzel.com//News/Pages/liability-on-the-move-what-the-sca-says-about-runner-spectator-accidents.aspx Running is a popular sport, whether for health, social engagement, or community awareness. But what happens when a runner collides with a spectator? This question was considered by the Supreme Court of Appeal (SCA) in the recent judgment of Kalmer v Davids NO (in her capacity as Executor in the Estate: Late Yasmin Salie) and Another. 2025-04-02T22:00:00Z 76e68de3-daec-4671-8274-e8122413dd7c https://www.webberwentzel.com//News/Pages/companies-amendment-acts-of-2024-a-deep-dive-into-the-newly-introduced-director-prescribed-officer-remuneration-provisions.aspx The Companies Amendment Acts of 2024 (Amendment Acts) were signed into law on 30 July 2024. The Amendment Acts aim to enhance the ease of doing business by clarifying, simplifying, and strengthening certain sections of the Companies Act 71 of 2008 (Companies Act), while also improving transparency and disclosure requirements for companies. 2025-04-01T22:00:00Z 51ab8972-90af-412b-b2fe-14b6ae75ebf2 https://www.webberwentzel.com//News/Pages/the-effective-use-of-disclaimer-notices-and-clauses-to-exclude-liability.aspx In recent years, South African courts have upheld the enforceability of disclaimer notices, provided they meet specific legal requirements. A disclaimer notice is a contractual clause that exempts one party from liability for losses incurred by another party. Businesses frequently use these notices to mitigate or limit risk. 2025-03-24T22:00:00Z 1b78d9c6-12b8-4e18-bcad-180cc33c7e04 https://www.webberwentzel.com//News/Pages/whos-to-blame-court-finds-claimant-partially-liable-for-own-injuries.aspx In a recent judgment that highlights the importance of maintaining safe premises for public use and the need for individuals to exercise reasonable care for their own safety, the court in Stephens vs Minister of Police found the plaintiff partially liable for injuries sustained by him when he fell at a police station. 2025-03-17T22:00:00Z 3b1747af-8e3c-49dc-8f04-e0f063f4f2d9 https://www.webberwentzel.com//News/Pages/what-if-your-clients-beneficial-owner-is-in-a-sanctioned-jurisdiction.aspx This article relates to accountable institutions listed in Schedule 1 to the Financial Intelligence Centre Act 38 of 2001 (FIC Act) and examines (i) beneficial ownership and (ii) whether an accountable institution must terminate a relationship with a client if the client has a beneficial owner in a sanctioned jurisdiction. 2025-03-02T22:00:00Z b9994508-9bd8-4c44-bafa-190efa4e70c8 https://www.webberwentzel.com//News/Pages/expropriation-without-compensation-implications-for-the-insurance-industry.aspx The Expropriation Act 13 of 2024 (the Act), which has been promulgated to give effect to the Property clause in the Constitution of the Republic of South Africa, 1996 has drawn mixed reactions both locally and abroad. 2025-03-02T22:00:00Z 7753f67b-c055-4f2d-8ded-2a36935508d9 https://www.webberwentzel.com//News/Pages/the-expropriation-act-a-solution-to-south-africas-land-reform-challenges.aspx The Expropriation Act (the Act), recently signed into law by President Ramaphosa, has sparked mixed reactions from various groupings across the country. Some, probably influenced by certain misconceptions, remain strongly opposed to the Act's purport, while some have strongly defended the Act. 2025-02-24T22:00:00Z 337cafd2-6ddc-4eea-b353-2f5ecd3a9a35 https://www.webberwentzel.com//News/Pages/fic-publishes-final-guidance-note-7a.aspx The Financial Intelligence Centre (FIC) concluded a comprehensive consultation process, resulting in the publication of the final Guidance Note 7A (GN 7A) on 13 February 2025. GN 7A replaces Guidance Note 7 (GN 7), incorporating valuable stakeholder input from three rounds of consultation held between April 2022 and June 2024. 2025-02-20T22:00:00Z 3c7c6496-c39f-4468-8680-0e5974cbb863 https://www.webberwentzel.com//News/Pages/national-minimum-wage-increases-from-1-march-2025-as-new-rates-take-effect.aspx The Minister of Employment and Labour has announced adjustments to the national minimum wage, which will take effect on 1 March 2025. 2025-02-05T22:00:00Z 5fea0481-98a8-4aca-a6b6-62f0fb75b5e6 https://www.webberwentzel.com//News/Pages/competition-commission-aims-to-provide-clarity-on-internal-restructurings.aspx The legal position on whether internal restructurings within South African businesses require prior approval from the competition authorities has been uncertain for some time. In a welcome development, on 24 January 2025, the Competition Commission took steps to clarify this issue by publishing draft guidelines on internal restructurings. 2025-01-28T22:00:00Z ac645220-0210-4820-a0d0-e6ddf9a2b910 https://www.webberwentzel.com//News/Pages/draft-pcc-23a-guidance-provided-for-determination-of-credit-providers-as-accountable-institutions.aspx With effect from 19 December 2022, schedule 1 to the Financial Intelligence Centre Act, 38 of 2001 (FICA) was amended to include persons who provide credit in the list of accountable institutions in schedule 1 of FICA. 2025-01-12T22:00:00Z f092b38d-2dcd-4f98-8667-c68ae6341fa8 https://www.webberwentzel.com//News/Pages/draft-determination-relating-to-foreign-collective-schemes-soliciting-investments-in-the-republic.aspx On 29 August 2024, the Financial Sector Conduct Authority (FSCA) published the draft Determination relating to Foreign Collective Schemes Soliciting Investments in the Republic (draft Determination) and invited written submissions which were due on or before 11 October 2024. 2024-11-25T22:00:00Z 33f51361-99e3-435b-adff-cdeb5cd7b0fd https://www.webberwentzel.com//News/Pages/botswana-a-new-era-of-governance-and-investment.aspx The political landscape in Botswana has shifted significantly with the recent electoral success of the Umbrella for Democratic Change (UDC), which ended 58 years of rule by the Botswana Democratic Party (BDP). 2024-11-20T22:00:00Z c0f10e3b-8dda-4236-b802-7f9be58f940b https://www.webberwentzel.com//News/Pages/latest-developments-in-south-african-immigration-point-based-system-remote-work-visa-visa-backlogs-and-extended-concessions.aspx Over the past 10 months, the Department of Home Affairs (DHA) rolled out several significant changes that will impact the immigration space in South Africa. 2024-11-05T22:00:00Z a4e85a17-8215-45a2-bec2-c0b8b1837cc6 https://www.webberwentzel.com//News/Pages/the-chamber-of-financial-secrets-uncloaking-the-mysteries-of-administrative-penalties.aspx ZAR 475 million, ZAR 210 million, ZAR 59 million, these are not lottery-winning jackpot amounts. They are some of the eye-watering administrative penalties that have recently been imposed by the Financial Sector Conduct Authority (FSCA) and the Prudential Authority (PA). 2024-11-04T22:00:00Z 8c468cb6-6ba5-4602-8cee-e9ea88a54fb7 https://www.webberwentzel.com//News/Pages/should-all-tokens-be-equal-in-the-crypto-market.aspx As of June 2024, the Financial Sector Conduct Authority (FSCA) has issued 138 crypto asset service provider (CASP) licences. With the rolling out of licences, the discussion around the crypto industry moves from whether crypto assets should be regulated, to more detailed topics around "what should be regulated?" and "how should it be regulated?" 2024-10-21T22:00:00Z dd78961d-6773-4855-8cb9-8165791fd1d1 https://www.webberwentzel.com//News/Pages/sars-intensifies-focus-on-crypto-traders.aspx SARS is increasing its scrutiny of crypto traders by issuing tax notices and clarifying exchange control regulations. Traders must immediately comply to avoid penalties. 2024-09-04T22:00:00Z 6ba4e890-ea86-47c5-9545-30aef9e3857e https://www.webberwentzel.com//News/Pages/shorten-the-disciplinary-carousel-to-benefit-employees-and-employers.aspx The Labour Relations Act (LRA) in South Africa goes to great lengths to provide employees and employers with a structure they can use to address matters around conduct and discipline. However, since the LRA and Commission for Conciliation, Mediation and Arbitration (CCMA) came into existence, a perception exists that disciplinary matters are events of almost last resort because of their cost in time and money. 2024-08-21T22:00:00Z 566291ec-f28d-4359-95f4-5e52d5396ef6 https://www.webberwentzel.com//News/Pages/the-digital-nomads-are-coming-what-are-the-tax-and-employment-implications.aspx An increasing number of jurisdictions are embracing digital nomads as a potential source of economic good, lightly taxed but who contribute to the fiscus through their daily and considerable spending habits. South Africa is no exception, following some recent exciting developments within the immigration policy space. 2024-08-20T22:00:00Z ef5d4d1c-3557-4744-91c0-79cfc41310c2 https://www.webberwentzel.com//News/Pages/three-year-regulation-plan-by-the-financial-sector-conduct-authority.aspx On 5 July, the Financial Sector Conduct Authority (FSCA) published its three-year regulation plan (2024 Regulation Plan) for the period 1 April 2024 to 31 March 2027. The FSCA's strategy is to develop a plan that better aligns South Africa's regulatory framework with international standards while identifying topical and emerging sector-specific risks. 2024-07-31T22:00:00Z e400c922-42cb-4c37-92c2-babefb119bd1 https://www.webberwentzel.com//News/Pages/on-the-cusp-of-important-company-law-changes-companies-amendment-acts-gazetted.aspx The long-awaited amendments in the Companies Amendment Bills, 2023 have been signed into law and published in the Government Gazette as Acts of Parliament. The Companies Amendment Act, 2024 includes provisions to enhance transparency and provide for more disclosure by companies. The Companies Second Amendment Act, 2024 extends the time bars applicable to applications for director delinquency and proceedings to recover loss due to director liability. 2024-07-30T22:00:00Z 1293c16b-455f-4a82-ab42-e2d3d0960bd1 https://www.webberwentzel.com//News/Pages/changes-on-the-horizon-for-esg-disclosures-in-south-africa.aspx Boards should be aware of changes that are on the horizon to South Africa's ESG reporting landscape, including the potential incorporation of the ISSB Standards. However, the mechanics still need to be fleshed out. 2024-07-17T22:00:00Z c58c7976-6d01-470a-93c6-0072b68cf98e https://www.webberwentzel.com//News/Pages/on-the-road-to-a-cashless-society-sarb-digital-payments-roadmap.aspx On 18 April 2024, the South African Reserve Bank (SARB) published its digital payments roadmap. The document entitled Digital Payments Roadmap: Towards Inclusive, Accessible, Effective and Sustainable Digital Payments in South Africa, sets out a 17-action item plan that the SARB has for tackling identified obstacles, barriers and challenges to the adoption of an increase and effective use of digital payment in South Africa. This Roadmap follows from the National Payment System Framework and Strategy Vision 2025: Action Plan published in March 2018. 2024-05-26T22:00:00Z 38404cbe-92f3-44bc-b61a-150d8eb923fb https://www.webberwentzel.com//News/Pages/strategic-structuring-the-keystone-of-startup-success.aspx In the fast-paced world of startups, particularly those breaking new ground, the excitement of innovation and market disruption often takes centre stage. However, amidst this buzz, it's crucial for startups to prioritise their foundational business structures from the outset. Working with entrepreneurs for over 25 years, it's clear that that meticulous initial structuring is a key linchpin for long-term success. 2024-05-22T22:00:00Z bc4d69b6-ede7-4335-a739-ef231725d500 https://www.webberwentzel.com//News/Pages/the-jse-moves-forward-with-its-market-segmentation-proposals.aspx To enhance transparency, competitiveness, fairness and efficiency, the Johannesburg Stock Exchange (JSE) proposes to introduce a market segmentation model for the JSE Main Board. This would create two segments: Main Board Prime and Main Board General. The Main Board General segment would offer several less onerous listing obligations for companies listed in this segment. 2024-04-29T22:00:00Z 14eb433d-3f65-4d46-9742-5996244d94eb https://www.webberwentzel.com//News/Pages/stamping-out-racially-charged-misconduct.aspx A recent Labour Court judgment reaffirms the court's position to support employers that dismiss employees for racial misconduct, whether casual or brazen. 2024-04-15T22:00:00Z 7e97f020-4404-489a-b52b-a2d2bdc1140e https://www.webberwentzel.com//News/Pages/third-reminder-from-the-companies-and-intellectual-property-commission-on-beneficial-ownership-filings-hard-stop-restrictio.aspx A third customer notice from the CIPC reminds companies of their beneficial ownership and beneficial interest disclosure obligations and reiterates that from 15 April 2024, companies will not be able to file annual returns unless the relevant information has been submitted. 2024-04-07T22:00:00Z 8b2cf8ee-8ae1-45f0-b00e-c03e5e0b24d1 https://www.webberwentzel.com//News/Pages/partnership-between-the-fsca-and-bbbee-commission-in-pursuit-of-transformation-in-the-financial-sector.aspx On 5 March 2024, the Financial Sector Conduct Authority announced a Memorandum of Understanding with the Department of Trade, Industry and Competition’s Broad-Based Black Economic Empowerment Commission. 2024-04-03T22:00:00Z a9450e5a-3597-4dc4-997d-204cc7254f77 https://www.webberwentzel.com//News/Pages/a-snapshot-of-the-key-amendments-in-the-companies-amendment-bills-2023.aspx South Africa's Parliament has passed the Companies Amendment Bills, 2023. The Companies Amendment Bill, 2023 includes provisions to enhance transparency and provide for more disclosure and governance of executive remuneration. 2024-04-03T22:00:00Z b91d23da-674f-4651-b1b3-40b5218f101a https://www.webberwentzel.com//News/Pages/the-digital-tightrope-walk-for-business-and-human-rights.aspx AI offers unprecedented opportunities for growth and innovation but also presents significant challenges and risks, especially concerning human rights and corporate governance. 2024-03-24T22:00:00Z 2ec4d45e-ca9d-4516-80e8-b47228c15269 https://www.webberwentzel.com//News/Pages/2024-earnings-threshold-announced.aspx The earnings threshold will increase to R254 371.67 with effect from 1 April 2024, entitling employees falling below the threshold to stricter protections in terms of labour legislation. 2024-03-05T22:00:00Z d9b67b13-3370-4e94-a1f5-b0fe23706d41 https://www.webberwentzel.com//News/Pages/beyond-60-landmark-judgment-upholds-right-to-work-challenges-retirement-norms.aspx A recent judgment by the Labour Court confirms the current untenable position that many working-class South Africans find themselves in - being unable to retire comfortably at the standard retirement age, thus necessitating working beyond retirement. 2024-02-27T22:00:00Z e838e531-df64-4bc7-9e09-196be8898eba https://www.webberwentzel.com//News/Pages/one-year-grey-south-africas-bumpy-road-to-meeting-international-best-practice.aspx It has been a year since the grim reality of South Africa's greylisting status by the Financial Action Task Force (FATF). While the shadow of this decision persists, a careful analysis reveals a landscape marked by both challenges and encouraging progress. 2024-02-27T22:00:00Z 48669dbd-10af-4583-afc0-40885c7da1d8 https://www.webberwentzel.com//News/Pages/private-equity-legal-developments-in-2024.aspx The world of private equity is ever-changing, presenting both challenges and opportunities. In this overview, our experts highlight and provide insights on recent legal developments in tax, corporate, B-BBEE, competition, financial regulatory, infrastructure, energy, and employment that are relevant to private equity. 2024-02-26T22:00:00Z 9e13d6db-7434-4bfc-81a9-3c7ad5c62cb3 https://www.webberwentzel.com//News/Pages/contributed-tax-capital-and-the-provisos.aspx The Taxation Laws Amendment Act 20 of 2022 substituted the further proviso to the definition of ‘contributed tax capital’ in section 1(1) of the Income Tax Act 58 of 1962 (Act). The further proviso had been inserted by the Taxation Laws Amendment Act 20 of 2021 and was scheduled to come into operation on 1 January 2023. This article explores the background to the provisos and how they operate in relation to CGT and dividends tax. 2024-02-26T22:00:00Z ec729e47-9c97-4d43-86f7-9b9119f7ba12 https://www.webberwentzel.com//News/Pages/another-reminder-from-the-companies-and-intellectual-property-commission-on-beneficial-ownership-filings.aspx A second customer notice from the CIPC reminds companies to file the required beneficial ownership and beneficial interest information and notes that enforcement action may be taken against continuously non-compliant companies. 2024-02-25T22:00:00Z c50cf5a6-c903-4329-82ed-673adee36129 https://www.webberwentzel.com//News/Pages/estate-duty-and-the-succeeding-usufruct.aspx This article examines a variation of the bare dominium/usufruct arrangement employed by estate planners to avoid estate duty. It involves the creation of a succeeding usufruct for a limited period after the death of the second-dying spouse who is the initial usufructuary. 2024-02-20T22:00:00Z 1f687a99-ab90-4db6-b28c-54b631119244 https://www.webberwentzel.com//News/Pages/godongwana-teetering-on-the-highwire.aspx Over the last few years there have been calls on the government to curtail its spending, prune its bloated cabinet, and stop bailing out badly managed state-owned entities. This year’s budget demonstrates that the government has heeded these calls. 2024-02-20T22:00:00Z 79e92855-e3b4-4721-8723-1eb827e290e3 https://www.webberwentzel.com//News/Pages/capital-reconciliations.aspx In its annual report for the year ending 31 March 2022 SARS indicated that it had undertaken 25 lifestyle audits with a value of R474,7 million. These audits involve mainly using capital reconciliations and third-party data and focus mainly on individuals who have access to luxury assets and extensive business relations. 2024-02-18T22:00:00Z 8cde5d84-ccbd-450c-b208-3ea696174668 https://www.webberwentzel.com//News/Pages/budget-2024-navigating-uncertainty-in-challenging-times.aspx Minister of Finance Enoch Godongwana will deliver the 2024 Budget Review to Parliament next week as the South African economy faces a gloomy economic outlook. The economy is still recovering from the impact of COVID-19 and state capture. 2024-02-18T22:00:00Z a16bb595-4886-4c4d-81ae-40b0665de2cc https://www.webberwentzel.com//News/Pages/navigating-tax-deductions-lessons-from-the-unitrans-holdings-case.aspx The Gauteng High Court recently dismissed the appeal of Unitrans Holdings (Unitrans) against the Tax Court judgment which had denied a tax deduction for interest incurred. The court found that the interest incurred was not closely connected to Unitrans’ business operations as an investment holding company and that the purpose of the interest was not to produce income but to further the interests of the subsidiaries. 2024-02-15T22:00:00Z ff09330d-8483-415d-9ff0-0762971f18b0 https://www.webberwentzel.com//News/Pages/mass-dismissals-for-strike-misconduct-without-meeting-the-threshold-for-common-purpose.aspx Mass dismissals for strike misconduct without meeting the threshold for common purpose can be a complex legal matter that requires careful considerations of the specific circumstances, particularly in establishing a clear link between an individual's actions and the collective misconduct. 2024-02-11T22:00:00Z aee926b4-3fa6-451c-93b0-cbc7b8cc1a2f https://www.webberwentzel.com//News/Pages/practical-insights-draft-regulations-on-proposed-sectoral-targets-open-for-public-comment.aspx On 1 February 2024, the Minister of Employment and Labour issued new draft regulations concerning sectoral targets (draft regulations), providing a 90-day window for interested parties to comment. 2024-02-05T22:00:00Z 5b3ecdad-7d8f-4ae4-bdcd-0a2ba3f0e44f https://www.webberwentzel.com//News/Pages/minings-green-shift-partnering-for-sustainable-transitions.aspx The Just Energy Transition (JET) and the global move towards net zero by 2050 require coordinated action by mining companies, governments, unions, and communities to ensure just transitions for mines and communities. 2024-02-05T22:00:00Z 884424d5-19c6-4f19-920d-633202751c61 https://www.webberwentzel.com//News/Pages/part-4-a-closer-look-at-the-competition-commissions-draft-public-interest-guidelines.aspx The South African Competition Commission's Draft Public Interest Guidelines provide insights into the Commission's likely approach when performing its evaluation of each public interest factor listed in the Competition Act during merger proceedings. 2024-01-24T22:00:00Z 55319dae-97d3-4867-9c4c-6f468f66a529 https://www.webberwentzel.com//News/Pages/latest-developments-in-south-african-immigration-visa-backlogs-and-extended-concessions.aspx Several immigration developments from the Department of Home Affairs (DHA) unfolded over the 2023 festive season. These include an extension of temporary concession for foreign nationals awaiting outcomes to their pending applications and granting extended exemptions for both Zimbabwe and Lesotho nationals. 2024-01-15T22:00:00Z bca53eb6-8252-442b-91af-5e1516ae993f https://www.webberwentzel.com//News/Pages/webber-wentzel-fusion-elevating-legal-excellence-for-a-tech-forward-tomorrow.aspx Webber Wentzel, the leading full-service law firm in Africa, has expanded its NewLaw and legal technology division and rebranded it as Webber Wentzel Fusion. This is the next step in the firm's innovation journey, following its five-year long incubation of an alternative legal services centre and its early investment in artificial intelligence. 2024-01-15T22:00:00Z 260353e1-d3a7-4997-b1e3-89db031cb8c8 https://www.webberwentzel.com//News/Pages/section-12ba-light-at-the-end-of-the-tunnel.aspx National Treasury has released proposed amendments to the Income Tax Act to encourage taxpayers to invest in alternative energy generation as a matter of urgency. 2023-12-10T22:00:00Z fe5967c3-6435-4d98-8692-9ba581148dea https://www.webberwentzel.com//News/Pages/moonlighting-your-side-hustle-can-cost-you-your-job.aspx The duty of good faith and the implications of moonlighting for employees was underscored in a recent Labour Court judgment. The court emphasised the necessity of proactive disclosure to employers, affirming that moonlighting, without prior approval, constitutes a breach of fiduciary duties and undermines the employer's prerogative to make informed decisions. 2023-12-06T22:00:00Z 35a67c1a-7afb-4685-be29-28eb30ffbc69 https://www.webberwentzel.com//News/Pages/cop28-south-africas-climate-change-regime-and-just-energy-transition-stocktake.aspx The first Global Stocktake is set to conclude at COP28 which allows the global community to measure the progress made since the signing of the Paris Agreement and to take collective action to accelerate mitigation, adaptation, and financing for further climate ambition. 2023-12-05T22:00:00Z c74907df-16c3-4c68-8de1-47a7e07dedf1 https://www.webberwentzel.com//News/Pages/the-challenge-of-change-unpacking-onerous-adjustments-to-the-apportionment-formula.aspx The shortcomings of the VAT apportionment formula set out in 2011, have been addressed in a new formula which applies with effect from all financial years commencing on or after 1 January 2024. We highlight important adjustments to the formula which is laid out new Binding General ruling, BGR 16 (Issue 3). 2023-12-04T22:00:00Z 41eee0d9-2ed2-43ec-bc27-273096cc42d8 https://www.webberwentzel.com//News/Pages/two-pot-system-effective-date-1-september-2024.aspx Discussions with the National Treasury, SARS, FSCA, GEPF and the Government Pensions Administration Agency have indicated that the date proposed by the Minister of 1 September 2024 would be achievable. 2023-12-04T22:00:00Z 61245d0c-b17d-4ce2-8f62-6ee57cdb701b https://www.webberwentzel.com//News/Pages/the-power-of-proactive-fraud-detection-and-the-evolution-of-fraud-in-the-public-sector.aspx Fraudulent activities, prevalent in both the private and public sector, pose significant challenges to organisations and their stakeholders. There has been a noticeable shift in employing different methods and tools (such as cutting-edge AI and data analytics) which are revolutionising fraud detection and prevention. 2023-11-28T22:00:00Z 095786c1-f7f1-4b77-b1e5-8f2a745a9388 https://www.webberwentzel.com//News/Pages/high-court-judgment-reshapes-parental-leave-rights-in-south-africa.aspx A recent High Court judgment has the potential to reshape parental leave rights in South Africa, possibly granting parents more flexibility and equality in sharing caregiving responsibilities. 2023-11-28T22:00:00Z f3b47881-66d7-48d0-b3cb-60c2848f3989 https://www.webberwentzel.com//News/Pages/does-a-restraint-of-trade-agreement-survive-the-transfer-of-a-business.aspx In a recent judgment, the High Court had to determine whether a restraint agreement survives the transfer of a business. The Court concluded that it is a fact-specific enquiry that involves determining whether the benefit created by the restraint constituted a component of the goodwill transferred to the purchaser. 2023-11-27T22:00:00Z bdede99c-25bf-47bb-a804-38c4e4a0e579 https://www.webberwentzel.com//News/Pages/financial-intelligence-centre-published-draft-public-compliance-communication-121-on-beneficial-ownership.aspx The Financial Intelligence Centre (FIC) released Draft Public Compliance Communication 121 guidance on beneficial ownership and the application of section 21B of the Financial Intelligence Act (FICA), 38 of 2001 (Draft PCC 121), on 15 November 2023. 2023-11-23T22:00:00Z 9353575d-bfd8-41ce-8e01-a19365871255 https://www.webberwentzel.com//News/Pages/ransomware-and-the-obligation-to-stop-fraud.aspx Cyber security has taken centre stage in South African commerce, and it's no surprise, given the prevalence of ransomware attacks on businesses in Africa. 2023-11-06T22:00:00Z 48166257-5fb3-4ac7-a4c2-f163d6cdae2c https://www.webberwentzel.com//News/Pages/landmark-judgment-seeks-to-overhaul-existing-maternity-and-parental-leave-provisions.aspx In a judgment with constitutional significance for the workplace, the High Court has ruled that all parents, irrespective of gender, should be entitled to four months of parental leave from their employers. 2023-10-25T22:00:00Z 333f1366-c5b5-4c6b-a3fb-b06c6be6415c https://www.webberwentzel.com//News/Pages/open-finance-compulsory-information-request-for-all-financial-institutions-and-fintechs.aspx In June 2023, the Financial Sector Conduct Authority (FSCA) published a draft Position Paper on Open Finance which builds on the FSCA's initial assessment of the Open Finance landscape published in its 2020 Consultation and Research Paper on Regulating Open Finance. 2023-10-17T22:00:00Z 8c138bc6-d384-4609-aedb-c600745051e1 https://www.webberwentzel.com//News/Pages/when-can-an-employer-reject-a-medical-certificate-used-by-an-employee-to-justify-absence-from-the-workplace.aspx A medical certificate produced by an employee to justify a period of absence constitutes hearsay evidence, which employers are entitled to challenge. That challenge shifts the onus to employees to prove indisposition. 2023-10-16T22:00:00Z aeb101f4-6313-44f7-8ac7-4ab3a8c72ff7 https://www.webberwentzel.com//News/Pages/bbbee-commission-explains-its-investigation-process.aspx The B-BBEE Commission has published a notice explaining how a complaint about fronting may be lodged and how it will respond. 2023-10-11T22:00:00Z e302b0d4-d269-4bc5-bd9e-d4f8d23bf601 https://www.webberwentzel.com//News/Pages/financial-services-regulation-quarterly-alert-june-august-2023.aspx Keep up to date on key financial services regulatory developments in South Africa in the third quarter of 2023. 2023-10-08T22:00:00Z 16f6cada-124a-4c60-b5c8-64b08d7805bf https://www.webberwentzel.com//News/Pages/reminder-from-cipc-on-beneficial-ownership-and-beneficial-interest-filings.aspx The CIPC recently published a customer notice as a timely reminder to companies to file the required beneficial ownership and beneficial interest information. 2023-10-08T22:00:00Z 9bb4dcff-1c82-404c-a7fb-bf32f99e687d https://www.webberwentzel.com//News/Pages/regulatory-developments-in-the-digital-finance-era.aspx Webber Wentzel attended the Digital Finance Africa Conference in Johannesburg, which highlighted several trends and developments that will be of interest to our clients. 2023-09-25T22:00:00Z 39662169-9f94-48c9-93bc-5cb4dfe23557 https://www.webberwentzel.com//News/Pages/tax-laws-amendment-ignores-global-business-outsourcing-realities.aspx Proposed amendments to the tax laws, following the Coronation SCA judgment, will make it very difficult for controlled foreign companies with foreign business establishments to outsource functions. 2023-09-11T22:00:00Z bc8c1bb9-d2fb-4796-b4d5-75d0f744f385 https://www.webberwentzel.com//News/Pages/company-law-changes-gather-momentum-a-snapshot-of-the-key-proposed-amendments-in-the-companies-amendment-bills-2023.aspx Two Companies Amendment Bills have been introduced in Parliament, heralding important changes for company law in South Africa. While several of the proposed changes are welcome, ambiguities remain. This snapshot explores some of the key proposed amendments. 2023-09-05T22:00:00Z 31cb6e9a-c3fb-4871-b079-59a5b52f398d https://www.webberwentzel.com//News/Pages/certain-provisions-of-financial-intelligence-centre-amendment-act-2017-come-into-force.aspx Sections of the FICA Amendment Act have come into force, including reporting requirements for international funds transfers and a new definition of trust and company service providers 2023-08-23T22:00:00Z d0263fcc-2194-4cfa-9126-783dcb89adb8 https://www.webberwentzel.com//News/Pages/beyond-competition-the-prominent-role-of-public-interest-conditions-in-financial-sector-mergers.aspx The competition authorities are increasingly imposing public interest conditions when approving mergers, including on employment, and broadening ownership. 2023-08-17T22:00:00Z cffb2675-3d21-48f2-9b28-e743efe62fdd https://www.webberwentzel.com//News/Pages/data-protection-and-cybersecurity-in-the-open-finance-space.aspx The FSCA has published a draft paper addressing the risks and possible remedies arising from data sharing in Open Finance, on which it is seeking public comment. 2023-08-17T22:00:00Z 49fa66fa-0c0e-4678-b305-5a5ca6b95e46 https://www.webberwentzel.com//News/Pages/taking-tech-to-tradition-mitigating-risk-in-the-evolving-financial-services-sector.aspx As technology distorts the boundaries between the physical and digital realms, adequate risk mitigation measures must be built into collaborations between banks and fintech companies. 2023-08-16T22:00:00Z 6270517c-1d20-40ed-8c41-d82133b9a038 https://www.webberwentzel.com//News/Pages/tobacco-bill-will-have-far-reaching-consequences-for-the-industry-and-economy.aspx The government is currently considering the Tobacco Products and Electronic Delivery Systems Control Bill, which will regulate the display, promotion and packaging of traditional tobacco products and electronic delivery systems. 2023-08-16T22:00:00Z 6a0d8787-4c05-483b-9359-69f1173b7f47 https://www.webberwentzel.com//News/Pages/prudential-authority-publishes-highly-anticipated-draft-guidance-notes-for-banks-and-insurers-on-climate-related-risks.aspx Mirroring other leading financial sector regulators across the globe, South Africa's Prudential Authority (PA) has signalled to banks and insurers that it is time for them to consider and integrate climate-related risks into their business practices, strategy, and management and disclose climate-related risks. 2023-08-13T22:00:00Z 32bf7a4c-9314-4f76-be1f-07d4854aec2a https://www.webberwentzel.com//News/Pages/a-snapshot-of-the-public-procurement-bill-2023.aspx The Public Procurement Bill, which was introduced in the National Assembly on 30 June 2023, aims to create a single framework to regulate public procurement by all state organs. 2023-07-26T22:00:00Z 2a889f58-f605-491f-b752-b5dfe98deeeb https://www.webberwentzel.com//News/Pages/blockchain-makes-crypto-asset-transactions-transparent-and-traceable.aspx At the 2023 Digital Assets and Sanctions Compliance Conference, Lerato-Lamola Oguntoye participated in a panel discussion on the regulation of crypto assets in South Africa and globally. The conference highlighted how distributed ledger technology/blockchain potentially diminishes anonymity in crypto-asset transactions. 2023-07-25T22:00:00Z b64a15a9-973f-40d1-ac37-22a15243dbbd https://www.webberwentzel.com//News/Pages/e-alert-prudential-authority-publishes-draft-amendments-to-the-commercial-paper-exemption-notice-1994.aspx The Prudential Authority has published proposals to amend the rules on commercial paper issuance, including new definitions, a minimum size for issuers, and a new regulatory return 2023-07-23T22:00:00Z 3531716e-b782-470d-a335-634936c90cc5 https://www.webberwentzel.com//News/Pages/when-are-government-restrictions-arms-length-a-lesson-from-3m.aspx A recent tax case involving payments by a Brazilian affiliate of 3M for IP it was licensed to use has cast some light on the complexities of determining an arm’s length price for intra-group services 2023-07-17T22:00:00Z b162f4fd-7f15-4c88-ae28-7ad15f209bc1 https://www.webberwentzel.com//News/Pages/fsca-publishes-draft-position-paper-on-open-finance.aspx The FSCA has published for comment a Draft Position Paper setting out its policy and proposed approach towards regulating the Open Finance sector. 2023-07-16T22:00:00Z 2cea2957-2a96-42cb-a848-dcc57ea85c12 https://www.webberwentzel.com//News/Pages/new-draft-rules-on-the-proposed-two-component-two-pot-retirement-system.aspx The anticipated draft amendments to legislation that will implement the first phase of the two-component retirement system have been published for comment. 2023-07-12T22:00:00Z b6c9eef3-026e-4811-ace5-46c439866494 https://www.webberwentzel.com//News/Pages/trusts-and-pbos-now-required-to-file-third-party-returns-to-sars.aspx SARS has published the notice requiring trusts and section 18A entities to file third-party returns, which will be used to pre-populate tax returns. 2023-07-11T22:00:00Z a7244cea-5988-444c-b5a1-c101dcf8fb1d https://www.webberwentzel.com//News/Pages/the-financial-intelligence-centre-publishes-final-guidance-for-crypto-asset-services-providers.aspx The FIC has published final guidance for crypto asset services providers, which are listed as accountable institutions as of 19 December 2022. 2023-07-09T22:00:00Z bf20dda6-a7b4-4e38-b916-5d11054bd2f6 https://www.webberwentzel.com//News/Pages/the-tax-implications-of-exporting-excess-electricity-to-the-municipality.aspx South Africa’s energy supply system is in flux. While this is causing some pain, it is also opening up new income-earning opportunities for those with the capital to spend on installing solar PV or wind generation facilities at their homes or premises. 2023-07-09T22:00:00Z 0b636534-0c93-4eaf-9263-352eba6d48fa https://www.webberwentzel.com//News/Pages/insurance-informer-exemption-from-liability-for-theft-by-own-employee.aspx Exemption clauses exempt a contracting party from liability in certain circumstances. The enforceability of these clauses, especially in light of the Constitution, has long been a difficult topic, raising interesting debates. 2023-07-06T22:00:00Z a8c637d9-6b2f-4880-a6ee-a12af121699c https://www.webberwentzel.com//News/Pages/weighted-voting-share-structures-free-float-and-spacs-amendments-to-the-listings-requirements-effective-17-july-2023.aspx The JSE has approved amendments to its Listings Requirements to regulate the listing of companies with weighted voting share structures, reduce the free float threshold, alter the current free float assessment, and enhance the JSE's SPAC offering. 2023-06-25T22:00:00Z ffcb97e1-61ad-4a90-a98b-53b8629fb0e9 https://www.webberwentzel.com//News/Pages/recent-changes-to-coida-an-overview-of-key-amendments.aspx The Compensation for Occupational Injuries and Diseases Act (COIDA) has recently undergone several amendments, bringing about important changes that impact employers and employees. 2023-06-25T22:00:00Z 25c615cd-4df8-4c49-b74d-eda7a70f461e https://www.webberwentzel.com//News/Pages/draft-rehabilitation-reintegration-and-return-to-work-regulations.aspx On 15 June 2023, the Department of Employment and Labour (DEL) published the Draft Rehabilitation, Reintegration and Return to Work Regulations in terms of the Compensation for Occupational Injuries and Diseases Act (COIDA) for public comment. These draft regulations propose new and significant obligations for employers to fulfil. 2023-06-25T22:00:00Z 83cdb7e2-6684-486b-b4e1-71ea40c20de3 https://www.webberwentzel.com//News/Pages/paia-deadline-for-section-83-4-report-less-than-a-week-away.aspx The Information Regulator published a notice on 7 May 2023, inviting all private bodies to submit a report by Friday, 30 June 2023, detailing requests for access to the records of these private bodies. 2023-06-22T22:00:00Z 7c870c1b-3ea2-4481-96e3-db5c2d8c5e9f https://www.webberwentzel.com//News/Pages/webber-wentzel-embraces-generative-ai-as-part-of-its-ongoing-innovation-journey.aspx Webber Wentzel is taking the lead on responsible Artificial Intelligence (AI) investment within the African legal landscape as part of its continued commitment to deliver an exceptional client experience and foster an open, creative, and entrepreneurial culture. 2023-06-22T22:00:00Z 779c234d-8f47-4cf7-8d6e-79171ce47b51 https://www.webberwentzel.com//News/Pages/from-fraud-to-fortification-strengthening-hiring-processes-to-prevent-the-need-to-litigate.aspx By verifying documents during hiring, employers could save themselves costly litigation against employees who submit fraudulent credentials to secure jobs and promotions. 2023-06-21T22:00:00Z 5fa28b9d-e5e3-40d3-952c-d515ceac8dbd https://www.webberwentzel.com//News/Pages/tax-incentive-for-rooftop-solar-a-proverbial-two-birds-one-stone.aspx The South African Reserve Bank estimated that the rolling blackouts hitting South African businesses and households cost the economy approximately ZAR 900 million a day. 2023-06-21T22:00:00Z 702080c7-364f-4c4a-a6ea-f16525352a14 https://www.webberwentzel.com//News/Pages/minister-of-finance-increases-maximum-monetary-fines-for-auditors.aspx South Africa's Minister of Finance increased the maximum fines that the Independent Regulatory Board for Auditors can impose on auditors for misconduct. 2023-06-19T22:00:00Z 6619efbc-f64c-44fa-8fc4-c4ab5e167e8c https://www.webberwentzel.com//News/Pages/new-frontiers-options-for-dispute-resolution-under-the-afcfta-investment-protocol.aspx The recently-adopted AfCFTA Protocol on Investment will be followed by an Annex which will tackle the contentious issue of regulating trade and investment disputes without impinging on national sovereignty. 2023-06-18T22:00:00Z cd3d1907-9819-42c3-914b-1695d5bd3794 https://www.webberwentzel.com//News/Pages/the-costs-and-consequences-of-insurance-fraud.aspx In 2001, the House of Lords stated that "there seems to be a widespread belief that insurance companies are fair game, and that defrauding them is not morally reprehensible". This has never rung truer than in times of financial turbulence. 2023-06-14T22:00:00Z cfa4d6bf-89c2-47e8-86c4-71908b1dca5c https://www.webberwentzel.com//News/Pages/national-treasury-takes-proposed-two-pot-retirement-system-forward.aspx Revisions to the draft legislation on the “two-pot” system for retirement funds were published on 9 June 2023, incorporating proposals mentioned in Chapter 4 of the 2023 Budget Review 2023-06-12T22:00:00Z 595b0166-ca1b-4168-a388-6bf72e3adc71 https://www.webberwentzel.com//News/Pages/update-further-relief-for-zep-holders-with-the-concession-extended-until-31-december-2023.aspx A new Immigration Directive issued gives Zimbabwean Exemption Permit (ZEP) holders further relief with the extension of the concession to 31 December 2023. 2023-06-07T22:00:00Z 852ba6b8-b126-4020-83f6-74c38a278b9d https://www.webberwentzel.com//News/Pages/insurance-informer-mauritian-supreme-court-awards-unprecedented-damages-in-a-road-accident-claim.aspx In the Judgment of Moollan I. v Mosaheb M. & Ors 2023 SCJ 34, the Mauritian Supreme Court awarded more than MUR 200 million to Mr Moollan (the claimant), who was involved in a road accident over 19 years ago. 2023-06-05T22:00:00Z 69472954-e21e-4daa-9c3c-01a7af855e57 https://www.webberwentzel.com//News/Pages/zimbabwean-exemption-permit-holders-30-June-2023-is-closer-than-you-may-realise.aspx The six-month extension period for the Zimbabwean Exemption Permits (ZEP) is concluding on 30 June 2023 and it is closer than you may think. 2023-06-01T22:00:00Z b12137e5-0115-455c-8b33-3cd5306d1794 https://www.webberwentzel.com//News/Pages/supreme-court-of-appeal-strikes-out-the-mandatory-audit-firm-rotation-rule.aspx In a significant judgment for the auditing profession, the Supreme Court of Appeal has ruled that the Independent Regulatory Board for Auditors did not have the power to mandate audit firm rotation 2023-05-30T22:00:00Z 99ff771c-bc3a-416a-b7ac-929e5c904759 https://www.webberwentzel.com//News/Pages/financial-services-regulation-monthly-update-may-2023.aspx Keep up to date with key Financial Services Regulation developments in South Africa in May 2023. 2023-05-29T22:00:00Z 95924e24-803c-4b06-88e7-52e89f06f9ff https://www.webberwentzel.com//News/Pages/south-african-crypto-providers-now-caught-in-licensing-net.aspx South African regulators have now defined crypto as a financial asset. But what does it mean in practice? 2023-05-28T22:00:00Z d5aec575-ce0b-4d9b-945c-5693222e13eb https://www.webberwentzel.com//News/Pages/batteries-pesticides-and-lubricants-added-to-extended-producer-responsibility-schemes.aspx Portable batteries, pesticides and lubricant oils now fall under the Extended Producer Responsibility Regulations, and have to comply with rules on transportation, storage and waste. 2023-05-24T22:00:00Z a5f785a0-4498-43e1-9d5d-88e342b6e008 https://www.webberwentzel.com//News/Pages/retrenched-by-hal-9000-what-employers-should-know-before-using-ai-in-dismissals-based-on-operational-requirements.aspx Employers using AI systems to identify employees for retrenchment need to be cautious of potential discrimination and should ensure that human bias is not systematised. 2023-05-15T22:00:00Z 909bbccc-03ee-468b-a4d7-358c476ce926 https://www.webberwentzel.com//News/Pages/worth-their-weight-in-gold-high-value-goods-dealers-fall-within-fica-ambit.aspx Amendments to the Financial Intelligence Centre Act established a new category of accountable institutions, high-value goods dealers, who now have compliance and reporting obligations 2023-05-09T22:00:00Z 86a8bc1d-a3d2-45ee-9480-85859995ba55 https://www.webberwentzel.com//News/Pages/financial-services-regulation-monthly-update-april-2023.aspx Keep up to date on key Financial Services Regulation developments in South Africa in April 2023. 2023-05-04T22:00:00Z 9cf10d5a-d90b-4e43-b13e-982a0dcfae35 https://www.webberwentzel.com//News/Pages/south-africa-potential-copyright-calamity.aspx South Africa’s Copyright Amendment Bill and Performers Protection Amendment Bill could potentially harm rather than help the creative industry and needs serious reconsideration. 2023-04-25T22:00:00Z 617a6a41-94d8-4762-88a0-cf05856ecfb2 https://www.webberwentzel.com//News/Pages/patenting-ai-inventions-the-robots-are-not-going-to-work-for-free.aspx While South Africa’s Copyright Act protects non-human inventors, the Patents Act does not, which is an unsatisfactory position. 2023-04-24T22:00:00Z 3542a7e9-f0e5-4032-af8a-c9354ac1fd57 https://www.webberwentzel.com//News/Pages/a-popia-perspective-on-the-financial-intelligence-centre-directive-8.aspx The FIC’s Directive 8, requiring accountable institutions to screen employees, should be applied while complying with POPIA’s restrictions on processing personal information. 2023-04-23T22:00:00Z de0a4deb-bbfb-49a2-a593-7295ad57d0b0 https://www.webberwentzel.com//News/Pages/constitutional-court-judgment-brings-finality-to-the-meaning-of-in-response-to-a-strike-when-employers-use-replacement.aspx On 18 April 2023, the Constitutional Court handed down judgment in National Union of Metalworkers of South Africa (NUMSA) v Trenstar (Pty) Ltd (Trenstar). 2023-04-19T22:00:00Z 3a09e481-f524-467f-aa22-1b679ee726df https://www.webberwentzel.com//News/Pages/are-you-ready-fic-employee-screening-directive-is-effective.aspx The FIC has issued a directive requiring accountable institutions to screen employees to help manage the risks of illegal activities, but this screening also has to comply with employment laws. 2023-04-18T22:00:00Z f6c06539-0513-4d84-8609-db6a0b252eff https://www.webberwentzel.com//News/Pages/insurance-informer-business-email-compromise-and-contractual-obligations.aspx In the recent case of Gerber, the High Court found that the defendant was liable for the losses suffered by the plaintiff when hackers deceived the defendant into making various payments from the plaintiff's account. 2023-04-17T22:00:00Z 8307d5a5-6b7d-4bda-a270-1f3464e9ca30 https://www.webberwentzel.com//News/Pages/department-of-home-affairs-issues-new-Immigration-directive.aspx A new Immigration Directive issued by the Minister of Home Affairs (DHA) aims is to reduce certain burdens on foreign nationals applying for South African temporary residence and South African permanent residence. 2023-04-16T22:00:00Z e817f178-4bf8-4920-8a0f-d514adef2194 https://www.webberwentzel.com//News/Pages/employment-equity-amendment-bill-2020-signed-into-law-employers-must-act-swiftly-and-take-a-measured-approach.aspx The Employment Equity Amendment Act has been signed into law, which paves the way for setting enforceable numerical targets for employment equity for economic sectors and fining employers who are non-compliant. 2023-04-12T22:00:00Z 247f8351-aca6-4e0b-9e89-1da6539cd289 https://www.webberwentzel.com//News/Pages/deduction-of-income-tax-and-estate-duty.aspx The net value of an estate for estate duty purposes may be reduced by income tax, CGT payable on the sale of assets by the executor, and income tax on the sale of trading stock. 2023-04-11T22:00:00Z e1c3f436-43de-4815-a6f6-b38af7123229 https://www.webberwentzel.com//News/Pages/self-generated-goodwill-and-cgt.aspx Self-generated goodwill has to be valued when a business is sold as a going concern, and if it commenced before 1 October 2001, the time-apportionment method of valuation can be used. 2023-04-11T22:00:00Z a31bd961-1fea-4eaa-966a-99adb1e303fd https://www.webberwentzel.com//News/Pages/gender-empowerment-in-the-workplace-is-more-than-a-moral-obligation.aspx The term "gender empowerment" was developed to describe the process of increasing the power and influence of women in society, while recognising the importance of including men and non-binary individuals in the process. 2023-04-10T22:00:00Z dddf23fc-0469-4f3d-8092-1450d7f0ffc5 https://www.webberwentzel.com//News/Pages/contributions-to-employee-share-incentive-trusts.aspx The contributions that companies make to employee share trusts should be tax deductible if they are made to incentivize employees but, if there are other benefits, there may be a capital gains liability. 2023-04-10T22:00:00Z 2d2aa1ac-67d1-45cc-bae0-1b22cc50002f https://www.webberwentzel.com//News/Pages/share-buy-backs.aspx The tax implications of share buybacks by companies are complex for both the company and its shareholders, and harsh penalties may be levied for non-compliance. 2023-04-10T22:00:00Z b8ae4cb0-9824-40de-a431-337849c09ab7 https://www.webberwentzel.com//News/Pages/financial-services-regulation-monthly-update-march-2023.aspx Keep up to date on key Financial Services Regulatory developments in South Africa in March 2023. 2023-04-03T22:00:00Z 3d4e2ff6-a6c4-4be8-90f8-a5e641784a94 https://www.webberwentzel.com//News/Pages/home-affairs-extends-temporary-measures-to-manage-visa-and-waiver-applications.aspx The Department of Home Affairs (DHA) has introduced temporary measures to address a backlog in processing visa and waiver applications. 2023-03-29T22:00:00Z 352a41f1-e190-4dc8-947b-4922c1f6d040 https://www.webberwentzel.com//News/Pages/south-africans-bask-in-new-tax-breaks-for-solar-power.aspx Government has announced temporary incentives for residential and business solar PV installations to help boost South Africa’s energy generation. 2023-03-29T22:00:00Z 57c96a8e-526c-416a-98de-981bf47dafa9 https://www.webberwentzel.com//News/Pages/foreign-employers-will-be-required-to-register-with-sars.aspx National Treasury proposed in the February 2023 Budget that it intends to align the obligations on South African and foreign employers, which creates certain practical issues. 2023-03-23T22:00:00Z 9feab861-3e62-42be-a5db-372c0f8c08ee https://www.webberwentzel.com//News/Pages/collective-misconduct-and-the-burden-of-proof-lessons-for-employers.aspx The Labour Appeal Court has ruled against an employer's reliance on collective misconduct for shrinkage in an unfair dismissal case, reinforcing the importance of evidence and the burden of proof placed on the employer. 2023-03-22T22:00:00Z cd386006-f2fc-4bc8-9b25-5d37cc5755d0 https://www.webberwentzel.com//News/Pages/greylisting-turns-the-spotlight-on-beneficial-ownership-of-companies-and-financial-institutions.aspx South Africa has put new laws in place to address the Financial Action Task Force’s (FATF) concerns, and those relating to beneficial ownership will have a significant impact on financial institutions and companies. 2023-03-19T22:00:00Z a7b4a6ff-d4c6-4379-b1be-8b366801f085 https://www.webberwentzel.com//News/Pages/when-should-the-locked-box-mechanism-be-used-and-how-can-purchasers-ensure-that-they-are-protected.aspx Originally used predominantly by private equity investors looking for a clean separation at the conclusion of a transaction, the locked box pricing mechanism continues to gain traction in the South African and global M&A market. 2023-03-16T22:00:00Z 59c8bcb1-d9d4-447f-bc11-0d871881e4a3 https://www.webberwentzel.com//News/Pages/new-tax-dispute-resolution-rules-come-into-effect-immediately.aspx New tax dispute resolution rules provide for, amongst others, 80 days to submit an objection and more independence of an ADR facilitator. 2023-03-13T22:00:00Z c33a52f5-f876-45b7-b0f8-8fb47e7f5e71 https://www.webberwentzel.com//News/Pages/unpopular-employee-lessons-for-employers.aspx In Zimbini Makuleni v Standard Bank of South Africa Ltd and Others , the Labour Appeal Court (LAC) determined whether an employer could dismiss an employee for misconduct where the facts demonstrated that they were an unpopular boss. 2023-03-12T22:00:00Z 41290102-5abc-4499-84e5-517d19784513 https://www.webberwentzel.com//News/Pages/draft-notice-of-amendment-of-board-notice-90-of-2014.aspx The Financial Sector Conduct Authority has published a draft notice of amendment of Board Notice 90 of 2014 2023-03-09T22:00:00Z 6123af0b-b98d-4e87-9635-14212c821cb5 https://www.webberwentzel.com//News/Pages/the-impact-of-greylisting-on-south-africa-hospitality-and-leisure-sector.aspx South Africa has experienced a seasonal boom in its hospitality and leisure sector, with the Western Cape being the primary beneficiary. 2023-03-07T22:00:00Z cf638e3c-5a60-4ed0-81b7-d9929e55270c https://www.webberwentzel.com//News/Pages/financial-services-regulation-monthly-update-february-2023.aspx Keep up to date on key Financial Services Regulation developments in South Africa during February 2023. 2023-03-05T22:00:00Z 694c56e5-29fa-43a6-acce-e16e2ef7391b https://www.webberwentzel.com//News/Pages/webber-wentzel-dispute-resolution-outlook-2023.aspx In 2022, there were significant changes in the South African dispute resolution landscape. New legislation and regulations were introduced on cryptocurrency and ESG disclosures by listed companies, paving the way for developments in commercial litigation and arbitration in these sectors. 2023-02-28T22:00:00Z 5b35389f-69b8-429f-94ab-b4805460c663 https://www.webberwentzel.com//News/Pages/what-you-need-to-know-about-chatgpt-and-copyright.aspx Large language models provide a wide range of services but the way they synthesise their information may infringe copyright laws. 2023-02-28T22:00:00Z fa269456-bdd4-4143-9449-8a3d2f80b178 https://www.webberwentzel.com//News/Pages/restraints-of-trade-and-settlement-agreements-a-lesson-for-employers-on-the-full-and-final-settlement-of-disputes.aspx According to a recent judgment from the Labour Appeal Court (LAC), when concluding settlement agreements with former employees, employers must actively preserve their rights to enforce restraint of trade undertakings, and other important protections. 2023-02-26T22:00:00Z 0fb2baf5-9ca1-4574-9ba9-2a3004e1cb2c https://www.webberwentzel.com//News/Pages/impact-of-the-national-minimum-wage-on-agribusinesses.aspx Hard-pressed agribusinesses battle to contain costs and maintain operational viability in the current economic climate which makes the sector vulnerable to the impact of large National Minimum Wage (NMW) increases 2023-02-26T22:00:00Z e54f650b-02e8-442a-928f-8785369f47d9 https://www.webberwentzel.com//News/Pages/south-africa-has-been-grey-listed-what-are-the-implications-for-the-country-going-forward.aspx South Africa’s greylisting by the Financial Action Task Force (FATF) has significant implications for its economic growth and global competitiveness, but moves are already being taken to satisfy the FATF 2023-02-23T22:00:00Z f536ec36-d673-44ed-bcfd-d5e08cf09df9 https://www.webberwentzel.com//News/Pages/new-national-minimum-wage-announced.aspx Employers need to be aware of the new higher National Minimum Wage rates from 1 March and to take these rates into account when they engage in collective bargaining agreements. 2023-02-21T22:00:00Z 6f57920f-ca38-4c49-8a14-f57dcfb36878 https://www.webberwentzel.com//News/Pages/budget-2023-gives-relief-to-hard-pressed-south-african-taxpayers.aspx The National Budget delivered today by South Africa’s Minister of Finance, Enoch Godongwana, showed that government is making some significant financial commitments to restore Eskom to viability and to maintain social grants. 2023-02-21T22:00:00Z 0935682f-ebf2-41e6-9616-664fab0e30c3 https://www.webberwentzel.com//News/Pages/2023-earnings-threshold-entitles-employees-to-stricter-labour-legislation-protections.aspx From 1 March 2023, the earnings threshold will increase to ZAR 241 110.59, entitling employees falling below the new threshold to stricter protections in terms of labour legislation. 2023-02-20T22:00:00Z 772b9733-283e-4f6a-9e1e-d9d5899defd5 https://www.webberwentzel.com//News/Pages/lawyers-2.0-in-a-chatgpt-world-the-human-ai-connection.aspx The legal industry is facing a future where Artificial Intelligence (AI) promises to take over many of the tasks that lawyers have traditionally done. Months after its release, the hype surrounding OpenAI's ChatGPT has not relented. 2023-02-13T22:00:00Z c738d247-2486-4938-a318-a602c38f9bad https://www.webberwentzel.com//News/Pages/insurance-informer-slip-and-trip-rainy-days-part-2-of-2.aspx In Cenprop Real Estate (Pty) Ltd v Holtzhauzen [2022] ZASCA 183 (19 December 2022), the SCA held an owner of a shopping mall and the entity controlling the mall liable for failing to take reasonable steps to prevent a slip and trip that occurred on a rainy day. 2023-02-13T22:00:00Z 649a2d5c-24a1-42fc-b36d-bd8660ee5075 https://www.webberwentzel.com//News/Pages/new-sec-compensation-clawback-rules-impact-us-listed-south-african-private-issuers.aspx A new US Securities Exchange Act Rule will take effect on 27 January 2024 and impact US-listed private issuers and dual-listed companies. 2023-02-13T22:00:00Z efb723de-7068-4dbc-a184-659e60af1e1e https://www.webberwentzel.com//News/Pages/is-your-business-an-accountable-institution-your-90-days-are-running.aspx Towards the end of 2022, several amendments and proposed changes to the structure of South Africa's anti-money laundering and counter-terrorist regime were implemented. 2023-02-08T22:00:00Z d9c64654-e219-44b2-884a-81d75bde66e2 https://www.webberwentzel.com//News/Pages/financial-services-regulation-monthly-update-january-2023.aspx Keep up to date on key Financial Services Regulation developments in South Africa during December 2022 and January 2023. 2023-02-01T22:00:00Z af271e4a-f373-486a-a71d-848536663d3f https://www.webberwentzel.com//News/Pages/a-matter-already-judged-cannot-be-judged-again.aspx In a recent judgment, the Labour Court has confirmed that instituting a claim for unlawful termination may follow an unsuccessful claim for unfair dismissal at the CCMA. 2023-01-26T22:00:00Z 2aca3c18-cd35-448b-8293-d9306d6b4fd9 https://www.webberwentzel.com//News/Pages/commencement-of-the-general-laws-anti-money-laundering-and-combating-terrorism-financing-amendment-act.aspx The General Laws (Anti-Money Laundering and Combating Terrorism Financing) Amendment Act has been signed into law. Cascading commencement dates for different sections have been proclaimed. 2023-01-24T22:00:00Z 2ed6ff2b-c0ad-46cc-b256-023b17b73e48 https://www.webberwentzel.com//News/Pages/insurance-informer-slip-and-trip-part-1-of-2-dangerous-situation.aspx In the recent case of Davidtz v Klimax Manufacturing (Pty) Ltd (25112/2019) [2022] ZAGPPHC 904 (22 Nov'22), the High Court reaffirmed that a legal duty rests on companies to prevent the damage from materialising. 2023-01-16T22:00:00Z adf51c6b-f9df-4460-9aac-e6be56af8170 https://www.webberwentzel.com//News/Pages/webber-wentzel-recognised-as-2022-south-africa-law-firm-of-the-year-by-top-ranked-legal.aspx Webber Wentzel has been awarded the 2022 South Africa Law Firm of the Year in the EMEA Awards by Top Ranked Legal. 2022-12-20T22:00:00Z 60716425-84d6-4a3c-b22b-a0ea08dcd3cc https://www.webberwentzel.com//News/Pages/new-preferential-procurement-regulations-a-placeholder.aspx The new Preferential Procurement Regulations allow organs of state to set quantifiable, transformative goals in their tenders. Bidders will need to consider tender documents carefully to determine whether they may be eligible to receive points for meeting specific goals stipulated in a tender document. 2022-12-12T22:00:00Z dfd8c64d-ddb8-4c45-adf1-e25038d4e1bb https://www.webberwentzel.com//News/Pages/webber-wentzel-outranks-its-south-african-peers-in-fintech.aspx Webber Wentzel is proud to have been singled out by Chambers Legal as a “Band 1” firm in FinTech legal advice, with two of its partners, Christoff Pienaar and Dawid de Villiers, ranked in Band 1 and Band 2 respectively. 2022-12-08T22:00:00Z d0340696-d0fa-41c4-8c7b-d40cd23afe4f https://www.webberwentzel.com//News/Pages/the-ever-changing-cti-landscape.aspx In this vidcast, Webber Wentzel’s team of competition, trade and investment (CTI) experts share some valuable knowledge and insights. 2022-12-07T22:00:00Z 512ada7a-dbe7-44a3-ba39-c592616b8316 https://www.webberwentzel.com//News/Pages/resolving-customs-and-excise-disputes-with-sars-litigation-part-4-of-4-parts-series.aspx There are various mechanisms to resolve disputes with SARS' Customs and Excise divisions. In this article, we consider the final mechanism: litigation against SARS. 2022-12-05T22:00:00Z 38c9d97c-6a54-49d4-918a-fafcfac20f64 https://www.webberwentzel.com//News/Pages/financial-services-regulation-monthly-update-november-2022.aspx ​​​Keep up to date on key Financial Services Regulation developments in South Africa during November 2022. 2022-12-04T22:00:00Z 7143ab56-5755-4f8c-8a77-4cf984b1fe38 https://www.webberwentzel.com//News/Pages/national-assembly-passes-a-revised-version-of-the-general-laws-amendment-bill-omnibus-bill.aspx On 22 November 2022, the National Assembly passed a revised version of the Omnibus Bill, which proposes to amend five pieces of legislation, including the Companies Act, 2008. 2022-11-28T22:00:00Z 1bb95ac4-34d1-49ec-9750-72a00fc09646 https://www.webberwentzel.com//News/Pages/staving-off-greylisting-requires-action-from-south-africas-public-and-private-sectors.aspx The measures South Africa is putting in place in response to the Financial Action Task Force’s recommendations will affect all industries and all employees. 2022-11-21T22:00:00Z a9d51697-b1b2-4edc-9608-5db2086d2452 https://www.webberwentzel.com//News/Pages/uneven-barter-transactions.aspx Case law gives guidance on the correct values to be used for tax purposes in the event that assets are exchanged for more or less than the market price. 2022-11-20T22:00:00Z 840f00a0-0845-4e69-945a-123dd95f00c4 https://www.webberwentzel.com//News/Pages/greenwashing-and-the-role-of-the-advertising-regulatory-board-in-south-africa.aspx South Africa’s Advertising Regulatory Board and the Consumer Protection Act enable consumers to lodge complaints when they suspect an advertiser or marketer of greenwashing. 2022-11-20T22:00:00Z dd01367a-5641-43d2-8506-4708e8f74f45 https://www.webberwentzel.com//News/Pages/embracing-neurodiversity-beyond-disability.aspx Disability Rights Awareness Month runs from 3 November to 3 December 2022 and is focussed on “empowering persons with disabilities through resourceful, sustainable and safe environments”, while recognising that not all disabilities are visible. 2022-11-17T22:00:00Z a0fafcc5-e2da-431c-92d7-94a72ea5fb82 https://www.webberwentzel.com//News/Pages/capital-gains-cannot-flow-through-multiple-discretionary-trusts-sca.aspx A recent SCA judgement has clarified that a capital gain distributed from one trust to a second and then to a natural person beneficiary must be taxed in the hands of the second trust, not the natural person 2022-11-17T22:00:00Z 70dcb93a-b19c-4509-ae00-77c1593a5968 https://www.webberwentzel.com//News/Pages/public-sector-strike-action-may-put-the-new-essential-service-committee-regulations-of-2022-to-the-test.aspx Trade unions in the public sector vow that planned protest action will disrupt essential services such as hospitals and courts during a 'National Day of Action' on 22 November 2022, with promises of full-blown strike action thereafter. How do the restrictions on workers' right to strike in essential services mitigate the potential disruption? 2022-11-17T22:00:00Z c9bf908a-3acd-454f-823a-d3eb3fa4eee9 https://www.webberwentzel.com//News/Pages/the-jse-moves-forward-with-its-consultation-paper-proposals-to-amend-the-listings-requirements.aspx After publishing its Consultation Paper and Response Paper with broad proposals to reform the Listings Requirements in light of international developments and make listing on the exchange more attractive, the JSE proposes to introduce a weighted voting share structure offering and amend its free float requirements and SPAC provisions. 2022-11-16T22:00:00Z 98492d3a-b662-4050-9c9b-3466c6e6794a https://www.webberwentzel.com//News/Pages/webber-wentzels-2022-financial-services-round-up.aspx In September 2022, experts from our Financial Services Sector Group across our Johannesburg and Cape Town offices, hosted a Financial Services round up, to unpack key insights on the below issues that impact the sector: 2022-11-14T22:00:00Z 7f3f981d-3946-4bbe-b49f-cb2e3431f77c https://www.webberwentzel.com//News/Pages/dismissal-emanating-from-wearing-high-heeled-shoes-sartorial-elegance-against-health-and-safety.aspx In a recent judgment , the Labour Court reinstated an employee who had been dismissed for voicing her dissatisfaction with the company’s policy on wearing high-heeled shoes on mine premises. 2022-11-09T22:00:00Z 30820b40-22c5-4f8a-8e20-57756a3d7723 https://www.webberwentzel.com//News/Pages/win-for-new-mothers-as-brandt-v-quoin-rock-wines-develops-protection-from-unfair-discrimination-on-the-grounds-of-pregnancy.aspx A recent Labour Court judgment develops the prohibition against unfair discrimination on the grounds of pregnancy. 2022-11-08T22:00:00Z e8b7e409-9bb7-45c2-a632-06dadfcda6e8 https://www.webberwentzel.com//News/Pages/financial-services-regulation-monthly-update-october-2022.aspx Keep up to date on key Financial Services Regulation developments in South Africa during October 2022. 2022-11-03T22:00:00Z 55c60539-ec01-41b8-8c40-ba4edf7399a3 https://www.webberwentzel.com//News/Pages/investment-by-the-private-sector-will-drive-the-afcfta-forward.aspx Four key value chains (automotive, agri-business, healthcare, and logistics) are leading the implementation of the African Continental Free Trade Agreement, with planning, lobbying and investment 2022-11-03T22:00:00Z 520b56ec-0fcc-42d3-b9ba-6efaa93cebcf https://www.webberwentzel.com//News/Pages/trading-under-the-afcfta-becomes-a-reality-guided-trade-initiative-launched.aspx The African Continental Free Trade Area (AfCFTA) Secretariat has launched the AfCFTA Guided Trade Initiative (GTI). The launch of the GTI is a significant milestone that marks the commencement of 'commercially meaningful' trade in terms of the AfCFTA agreement. 2022-11-03T22:00:00Z a1a4d935-751f-472a-b013-771fa07704c9 https://www.webberwentzel.com//News/Pages/restrain-or-react-greylisting-in-south-africa.aspx In 2019, the Financial Action Task Force ("FATF") red-flagged South Africa for high levels of corruption. That means South Africa has to address its partial compliance or non-compliance with 20 of the FATF’s “Forty Recommendations” by February 2023. 2022-11-01T22:00:00Z e418e1c0-5edb-4944-ae2a-c86a9a67d31e https://www.webberwentzel.com//News/Pages/supreme-court-of-appeal-dismisses-challenge-to-agreement-not-to-sue.aspx The Supreme Court of Appeal recently dismissed a challenge to a contractual undertaking not to institute legal proceedings (known as a pactum de non petendo), finding that the undertaking was not against public policy. 2022-10-30T22:00:00Z ceb6bac7-92fa-4cc4-9b44-78fb7bc2b0aa https://www.webberwentzel.com//News/Pages/violence-and-intimidation-associated-with-industrial-action-using-picketing-rule-and-code-on-harasment-to-migitate-violence.aspx Employers trying to tackle violence related to industrial action have traditionally reacted with court proceedings and disciplinary action once such action has taken place. 2022-10-26T22:00:00Z 1391e918-70ff-4b7e-9094-8999985a81f8 https://www.webberwentzel.com//News/Pages/are-brps-and-liquidators-overlooking-potential-esg-benefits-and-ignoring-possible-risks.aspx BRPs in South Africa should incorporate ESG considerations into their business plans to attract more investors and comply with the SA’s climate change commitments. 2022-10-25T22:00:00Z 73e58b74-12a4-4d62-adf7-2f4e36ae5e66 https://www.webberwentzel.com//News/Pages/amended-ee-bill-tightens-up-on-transformation-targets.aspx Employers will face consequences if the Employment Equity Amendment Bill is implemented, specifically that hard-coded sector targets will be enforced, together with fines for non-compliance. 2022-10-25T22:00:00Z f43a77c6-d12c-4ef7-a339-b7dfb4f2b549 https://www.webberwentzel.com//News/Pages/webber-wentzel-won-the-african-legal-awards-for-african-law-firm-of-the-year.aspx Webber Wentzel has been named African Law Firm of the Year (Mid-Large Sized Practice) at the 2022 African Legal Awards. 2022-10-23T22:00:00Z 70850e9d-fdbf-44ce-a03f-106ccce68619 https://www.webberwentzel.com//News/Pages/sars-somewhat-lifts-prohibition-on-distributions-from-resident-trusts-to-offshore-trusts.aspx SARS will now consider applications from South African-resident trusts for approval to distribute funds to non-resident trusts. 2022-10-20T22:00:00Z 6fa815f7-81be-461d-83a4-16c7311de11b https://www.webberwentzel.com//News/Pages/fsca-declares-crypto-assets-a-financial-product.aspx The Financial Sector Conduct Authority has published the first of what will be a series of regulations to manage crypto assets and their providers. 2022-10-20T22:00:00Z 9729b1e3-049c-43f4-824e-3fcf5a12af3a https://www.webberwentzel.com//News/Pages/national-treasury-and-sars-refine-two-pot-retirement-proposals-in-response-to-feedback.aspx After wide consultation, National Treasury and SARS have made some changes and clarifications to the original proposals on introducing a “two pot” retirement system. 2022-10-17T22:00:00Z c0c95c26-4642-48de-aec7-9c1dabca3dcb https://www.webberwentzel.com//News/Pages/webber-wentzel-won-the-african-legal-awards-litigation-and-dispute-resolution-team-of-the-year.aspx Webber Wentzel represented a financial sector client in resolving an international commercial dispute concerning investments in two high-impact development projects in the "Global South", worth hundreds of millions of US Dollars. 2022-10-16T22:00:00Z aacb1370-bef6-4b75-a7e5-895866832576 https://www.webberwentzel.com//News/Pages/employers-role-in-eradicating-gender-based-violence-legally-required-or-simply-virtuous.aspx The National Council on Gender Based Violence and Femicide draft Bill, published on 30 September 2022 prompts employers to reflect on their role in dealing with gender-based violence. 2022-10-13T22:00:00Z a124fe16-5a66-449f-aa2f-5ebdda4eadf0 https://www.webberwentzel.com//News/Pages/debt-bondage-in-an-esg-era-are-garnishee-orders-indicators-of-forced-labour.aspx Employers applying emolument attachment orders to employees’ salaries should be wary of this being perceived as a form of debt bondage. If so, it could fall foul of European Commission proposals on forced labour. 2022-10-05T22:00:00Z e5e48baf-0c71-441b-ac4b-80a68f64c2cd https://www.webberwentzel.com//News/Pages/gbv-bill-establishing-the-national-council-on-gbv-and-femicide-to-be-introduced-to-parliament.aspx On 30 September 2022, the Minister of Women, Youth and Persons with Disabilities published the National Council on Gender-Based Violence and Femicide Bill (Bill). 2022-10-04T22:00:00Z 386c2c4f-3833-4eef-b58a-27c814498bd1 https://www.webberwentzel.com//News/Pages/prescription-specialised-knowledge-of-damage.aspx In a recent judgment (Zurich Insurance Company South Africa Ltd v Gauteng Provincial Government ), 2022-10-03T22:00:00Z 80ac5e36-1869-42c3-8070-93c1b85ffe33 https://www.webberwentzel.com//News/Pages/financial-services-regulation-monthly-update-september-2022.aspx Keep up to date on key Financial Services Regulation developments in South Africa during September 2022. 2022-10-02T22:00:00Z ba3ff61f-0784-4a08-a3b4-ff0666aefa4b https://www.webberwentzel.com//News/Pages/in-depth-look-at-the-general-laws-anti-money-laundering-and-combating-terrorism-financing-amendment-bill-2022.aspx The General Laws (Anti-Money Laundering and Combating Terrorism Financing) Amendment Bill, 2022 was tabled in Parliament on 29 August 2022. 2022-09-28T22:00:00Z 230d35cf-7c7a-4068-8433-2ff5b3cd4b15 https://www.webberwentzel.com//News/Pages/omnibus-bill-proposed-amendments-to-the-trust-property-control-act-1988.aspx The Omnibus Bill introduces a new section, dealing with beneficial ownership, into the Trust Property Control Act, 1988 (TPCA). 2022-09-28T22:00:00Z a72f271c-f232-4890-aab7-d35c426ca54c https://www.webberwentzel.com//News/Pages/omnibus-bill-proposed-amendments-to-the-companies-act-2008.aspx The Omnibus Bill proposes amendments to the Companies Act, 2008 (Companies Act), primarily related to disclosure of information concerning beneficial ownership. 2022-09-28T22:00:00Z d861dd9c-fbe1-4479-ade8-59238de69f01 https://www.webberwentzel.com//News/Pages/omnibus-bill-proposed-amendments-to-the-financial-intelligence-centre-act-2001.aspx The Omnibus Bill amends several definitions in the Financial Intelligence Centre Act, 2001 (FICA) and introduces other definitions. 2022-09-28T22:00:00Z beb87d99-df99-4f76-8064-18da18de02ee https://www.webberwentzel.com//News/Pages/omnibus-bill-proposed-amendments-to-the-financial-sector-regulation-act-2017.aspx The Omnibus Bill amends the Financial Sector Regulation Act, 2017 (FSR Act). The Omnibus Bill introduces the concept of beneficial owners into the FSR Act by introducing a new Chapter 11A into the FSR Act. 2022-09-28T22:00:00Z c1813e6b-9a09-4024-9e8e-df9029a57c5e https://www.webberwentzel.com//News/Pages/omnibus-bill-proposed-amendments-to-the-nonprofit-organisations-act-1997.aspx The Omnibus Bill proposes amendments to the Nonprofit Organisations Act, 1997 (NOA), primarily related to registration of nonprofit organisations and disclosure of information relating to their office-bearers, control structure, governance, management, administration, and operations. 2022-09-28T22:00:00Z e232efde-8668-40a7-a268-2aeff133378c https://www.webberwentzel.com//News/Pages/the-employment-services-amendment-bill-gives-a-glimpse-into-the-future-of-digital-labour-platforms.aspx The Employment Services Amendment Bill introduces certain employment obligations for digital labour platforms and this may mark the beginning of more extensive regulation of these platforms. 2022-09-27T22:00:00Z 1f62eb4f-8938-48b4-8794-250af0dc9dd9 https://www.webberwentzel.com//News/Pages/new-guidelines-aim-to-capture-more-notifiable-mergers.aspx On 23 September 2022, the Competition Commission published final Guidelines on Small Merger Notification which significantly expand the scope of potentially notifiable mergers. 2022-09-26T22:00:00Z 94bc8423-691b-4acf-9413-12567a5edc32 https://www.webberwentzel.com//News/Pages/webber-wentzel-won-the-african-legal-awards-m-and-a-team-of-the-year.aspx Webber Wentzel won the African Legal Awards M&A Team of the Year for advising on the joint venture between Sanlam Limited, its subsidiaries, and Allianz BV, a subsidiary of Allianz SE. 2022-09-25T22:00:00Z 9e23a295-7f48-4cd1-a807-bbebf19f9d95 https://www.webberwentzel.com//News/Pages/international-arbitration-in-conversation-with-some-of-our-experts.aspx A few insights from four of our young partners who are specialists in international arbitration. 2022-09-22T22:00:00Z 9308bd61-38a9-4746-8288-bfa51ed608a5 https://www.webberwentzel.com//News/Pages/welcome-back-gabi.aspx Gabi Richards-Smith has re-joined Webber Wentzel as a partner in the Financial Regulatory Practice. 2022-09-18T22:00:00Z f8f55830-861c-4d4b-af2e-017a424211f8 https://www.webberwentzel.com//News/Pages/how-will-amendments-to-fica-schedules-1-2-and-3-apply-to-credit-providers.aspx Amendments to schedules 1,2 and 3 of FICA will see the inclusion of credit providers as accountable institutions. 2022-09-13T22:00:00Z 412bff6b-0064-4477-a7f1-9945d9aba8da https://www.webberwentzel.com//News/Pages/ten-things-you-ought-to-know-about-sa-planned-two-pot-system-for-retirement-savings.aspx Draft amendments have been published to introduce the proposed two-pot system for retirement savings. Here is a summary of the main features. 2022-09-12T22:00:00Z 92ab08ac-e977-4ded-9174-f2f5bde81c9d https://www.webberwentzel.com//News/Pages/home-affairs-introduces-temporary-measures-to-manage-pending-visa-and-waiver-applications.aspx The Department of Home Affairs (DHA) has introduced further temporary measures in respect of a backlog towards processing outcomes on visa and waiver applications. 2022-09-11T22:00:00Z 0bd35ad0-84aa-47ae-864f-8e94fd6f0e52 https://www.webberwentzel.com//News/Pages/regulators-take-steps-to-encourage-esg-in-the-financial-services-industry.aspx The FSCA is taking a number of steps, beyond introducing amendments to Regulation 28, to encourage pension funds to invest in green and other ESG investments. 2022-09-11T22:00:00Z beb78e72-75ca-451a-a668-25d52b0a3794 https://www.webberwentzel.com//News/Pages/esg-disclosure-framework-in-the-pipeline-for-south-african-financial-services-companies.aspx The South African Reserve Bank will shortly issue a draft sketching an ESG disclosure framework for the financial services organisations that it supervises. 2022-09-11T22:00:00Z 46382eeb-9b55-4fb5-976a-d644b1f719ce https://www.webberwentzel.com//News/Pages/do-androids-recognise-electric-sheep-south-africa-recognition-of-blockchain-arbitration-agreements.aspx The enforceability of (foreign) blockchain arbitrations under South Africa's international arbitration regime might be difficult but there are possible solutions. 2022-09-11T22:00:00Z 8b9437c3-6e33-4197-8b8a-5712d4611eb2 https://www.webberwentzel.com//News/Pages/high-court-finds-that-plaintiff-challenge-is-really-a-challenge-to-the-resolution-approving-a-scheme-of-arrangement.aspx The High Court recently ruled that regardless of how a challenge is framed, if it entails a direct or indirect attack on a resolution approving a scheme of arrangement, it can only be brought under section 115 of the Companies Act. Extra-statutory relief is barred. 2022-09-07T22:00:00Z f80c357a-2896-4b53-a77c-a74a8ca2cdf4 https://www.webberwentzel.com//News/Pages/whistleblowing-in-africa.aspx The Webber Wentzel Dispute Resolution Team is proud to present this whistleblowing cross-jurisdictional guide. It focuses on 9 key questions across 8 African jurisdictions. 2022-09-07T22:00:00Z 5695933d-8615-41c1-86f4-3cd112eb41d9 https://www.webberwentzel.com//News/Pages/banking-on-climate-change-the-rise-of-climate-finance-related-disputes.aspx Following ESG trends, South Africa’s banking sector is gearing up to provide sustainable financing. This shift into a new era of clean energy will give rise to complex ESG related disputes, and stakeholders should consider including an arbitration clause in underlying contracts to mitigate their risks. 2022-09-05T22:00:00Z cf038fab-1066-4b8a-9faa-4e63447415ae https://www.webberwentzel.com//News/Pages/some-relief-for-zimbabweans-and-another-internal-change.aspx Zimbabwean Exemption Permits (ZEP) have been extended for another six months and additional internal changes have been made to South Africa's visa processing system. 2022-09-05T22:00:00Z 27660f8c-95d5-444a-989f-d798eea07f26 https://www.webberwentzel.com//News/Pages/financial-services-regulation-monthly-update-august-2022.aspx Keep up to date on the most important Financial Services Regulation developments in South Africa during August 2022. 2022-09-04T22:00:00Z 27f5ac43-45e3-41c1-a61a-5361873ca51d https://www.webberwentzel.com//News/Pages/seminar-invitation-webber-wentzel-financial-services-round-up-cape-town-edition.aspx Please join us in Cape Town for our upcoming seminar where the experts from our Financial Services Sector Group will present their key insights. 2022-09-04T22:00:00Z 84a14fe0-ea8e-4255-a3a5-74044f0c72ca https://www.webberwentzel.com//News/Pages/update-cabinet-approves-the-general-laws-anti-money-laundering-and-combating-terrorism-financing-amendment-bill.aspx The General Laws (Anti-Money Laundering and Combating Terrorism Financing) Amendment Bill, 2022, which will make the necessary changes to avoid South Africa being “greylisted”, has been tabled. 2022-08-31T22:00:00Z 33f695d5-a585-4db0-835a-efdb848f98e5 https://www.webberwentzel.com//News/Pages/significant-changes-to-transformation-in-the-workplace-set-for-1-september-2023.aspx The Employment Equity Amendment Bill which proposes wide-reaching changes to the regulation of transformation in the workplace will be signed into law imminently according to the Department of Employment and Labour's Acting Deputy Director-General of Labour Policy and Industrial Relations, with 1 September 2023 as the effective date. 2022-08-31T22:00:00Z aef55578-a03d-4caa-9886-e700617aec6f https://www.webberwentzel.com//News/Pages/common-purpose-in-strike-related-misconduct-when-seeing-evil-is-not-enough.aspx A recent Constitutional Court judgment refines the application of the doctrine of common purpose in matters of strike-related misconduct. Establishing proximity is not sufficient grounds to dismiss large groups of employees. 2022-08-31T22:00:00Z 00770556-84d0-4650-9c6a-6f34104d2e8e https://www.webberwentzel.com//News/Pages/a-look-to-the-future-ligitation-risks-faced-by-the-financial-sector-in-relation-to-esg-statements.aspx With increasing public and regulatory scrutiny of claims by companies about their ESG achievements, it is essential that these are accurate, well-founded and backed up with data. 2022-08-30T22:00:00Z 0b8c3bf2-fb07-4337-abfb-cc5b8099a936 https://www.webberwentzel.com//News/Pages/an-intersectional-approach-to-unfair-discrimination-based-on-pregnancy.aspx During Women’s Month, it is apt to consider issues that women continue to face in the workplace. One of those is discrimination by employers on the grounds of pregnancy. 2022-08-30T22:00:00Z e18b5b73-ba94-4ae4-8bee-0c51e9ea2ee2 https://www.webberwentzel.com//News/Pages/south-africa-green-finance-taxonomy-project.aspx Following a two-year consultation and development process, South Africa’s first national Green Finance Taxonomy was launched on 1 April 2022 by the Taxonomy Working Group as part of South Africa’s Sustainable Finance Initiative. 2022-08-29T22:00:00Z 840c36f9-e2c3-4ad9-b8dd-8b0600ddae66 https://www.webberwentzel.com//News/Pages/esg-reporting-and-disclosure-in-a-new-era-for-companies.aspx Few businesses in the world can be ignorant of the shift in business norms to a much more conscious world, where stakeholders are increasingly interested in the non-financial parameters that affect a business’s operations. 2022-08-29T22:00:00Z 33aa8371-86bf-40ef-b92d-83c0b3048b77 https://www.webberwentzel.com//News/Pages/treasury-proposes-changes-to-its-anti-money-laundering-and-terrorist-financing-regime-to-fight-potential-greylisting.aspx On 18 August, the Minister of Finance published an explanatory note on the General Laws (Anti-Money Laundering and Combatting Terrorism Financing) Amendment Bill (the Bill), which National Treasury plans to table before the National Assembly in the third quarter of 2022. 2022-08-25T22:00:00Z 123c2f03-36a5-49ae-b7aa-ecf5c1736479 https://www.webberwentzel.com//News/Pages/esg-achieving-net-zero-and-the-role-of-carbon-tax.aspx A reduction in carbon emissions is integral to South Africa's global commitment to achieve net zero. The South African government strategically introduced carbon tax to combat global warming by encouraging a low carbon economy. 2022-08-17T22:00:00Z 4f17cec1-f7ee-443a-95a8-20365243011f https://www.webberwentzel.com//News/Pages/b-bbee-commission-releases-2021-national-status-and-trends-report.aspx The B-BBEE Commission’s latest report on empowerment trends shows a decrease in overall black ownership, as well as in black women ownership. 2022-08-16T22:00:00Z cacd9267-37e2-412e-b75d-8e0425bf372b https://www.webberwentzel.com//News/Pages/are-international-financial-Institutions-immune-from-insolvency-proceedings.aspx Insolvency law (or bankruptcy law as it is referred to in other jurisdictions) is quite clear on how to deal with a domestic entity facing financial difficulty. But what insolvency regime regulates international institutions? 2022-08-15T22:00:00Z ce19a61a-d846-4446-9ef6-b37c313ea777 https://www.webberwentzel.com//News/Pages/legal-considerations-relating-to-electronic-meetings.aspx As more companies convene virtual shareholders’ meetings post-pandemic, they need to follow certain procedures to avoid falling foul of the Companies Act. 2022-08-11T22:00:00Z 2aa535f1-e936-4528-82f6-416de228f359 https://www.webberwentzel.com//News/Pages/esg-matters-need-a-coordinated-and-practical-approach.aspx The growing importance of Environmental, Social and Governance (ESG) matters to stakeholders necessitates a co-ordinated approach to managing and reporting these issues to the board, which could justify appointing a dedicated ESG Manager. 2022-08-11T22:00:00Z f9b53961-bf7a-4f3e-964a-9ee6d6488e53 https://www.webberwentzel.com//News/Pages/sca-decision-on-advertising-regulatory-boards-powers-a-victory-for-brand-owners-and-consumers.aspx A recent ruling of the SCA has upheld the Advertising Regulatory Board (ARB)’s power to make rulings on advertisements of non-members for the benefit of ARB members. 2022-08-04T22:00:00Z 47c871c3-3e27-4701-b014-4558435cb0b2 https://www.webberwentzel.com//News/Pages/resolving-customs-and-excise-disputes-with-SARS-ancillary-dispute-resolution-mechanisms-part-3-of-4-part-series.aspx There are various mechanisms to resolve disputes with SARS' Customs and Excise divisions. In this article, we consider the uses and value of certain ancillary mechanisms. 2022-08-03T22:00:00Z 248ef684-9065-44b4-ac4e-334507fb5964 https://www.webberwentzel.com//News/Pages/sars-outlines-plans-to-require-new-third-party-data-submission-from-trusts-and-section-18a-institutions.aspx In line with its Vision 2024 to streamline tax collection, SARS will implement new systems for reporting trust distributions and donations to approved institutions. 2022-08-02T22:00:00Z a1f1504a-64fb-4bac-8587-a840337d04e2 https://www.webberwentzel.com//News/Pages/financial-services-regulation-monthly-update-july-2022.aspx Keep up to date on key Financial Services Regulation developments in South Africa during July 2022. 2022-08-01T22:00:00Z 0e2dfac7-ec3f-4b66-9b04-c470b9977871 https://www.webberwentzel.com//News/Pages/final-draft-of-the-replacement-nema-financial-provisioning-regulations-published.aspx The fourth draft of the replacement FP regulations is out, presenting the final opportunity to comment on the replacement regulations to be published ahead of the September 2023 deadline for compliance. 2022-07-27T22:00:00Z fbb8b7bd-7a65-40a0-8e62-50f0de291a94 https://www.webberwentzel.com//News/Pages/south-african-energy-crisis-the-practical-implications-of-the-government-proposed-interventions.aspx On 25 July 2022, President Cyril Ramaphosa announced the Government's intention to implement various "bold, courageous and decisive action[s] to close the electricity gap" in South Africa and bring an end to loadshedding. 2022-07-26T22:00:00Z 201b4b75-374b-4eb3-b5bb-574b654e673e https://www.webberwentzel.com//News/Pages/linking-the-s-in-esg-to-employment-tax-incentives.aspx While companies need to focus on their environmental and governance principles to meet their ESG requirements, they should not ignore the integral role of non-financial factors, which make up the "S" in ESG. 2022-07-26T22:00:00Z 81a5b89f-3fa7-4780-abe3-9e14282f6a76 https://www.webberwentzel.com//News/Pages/are-you-drone-spy-legal-implications-of-the-private-operation-of-drones-and-the-right-to-privacy.aspx Certain legal restrictions apply to drones, which are increasingly being deployed by hobbyists and commercial operators, and the penalties for infringing privacy are severe. 2022-07-25T22:00:00Z 1a6fe389-3043-4a77-b301-07f90a1b4d89 https://www.webberwentzel.com//News/Pages/key-considerations-for-companies-when-removing-a-director-from-office.aspx Removing a director from office in an unfair or unlawful manner exposes companies to liability under the Labour Relations Act as well as the Companies Act. This article raises some key considerations for companies looking to achieve the smooth departure of a director. 2022-07-25T22:00:00Z 097e5ebf-a9a1-4fea-a3ea-d15ad8ae3349 https://www.webberwentzel.com//News/Pages/retirement-funds-and-salaries-are-not-a-refuge-from-the-taxman.aspx SARS has the powers to appoint third parties to collect outstanding tax debts from a taxpayer’s retirement or salary payments. 2022-07-19T22:00:00Z 44365445-71cb-4b6d-9e34-7a3b24596f53 https://www.webberwentzel.com//News/Pages/the-south-african-reserve-bank-confirms-that-it-is-now-looking-at-crypto-regulation.aspx The SARB has confirmed it is preparing various regulations for the crypto asset sector, taking a phased approach over the next 12 to 18 months. 2022-07-18T22:00:00Z ad6111d6-02b3-4cf2-8303-ed30b5de8807 https://www.webberwentzel.com//News/Pages/the-green-the-bad-and-the-ugly-the-risks-of-greenwashing.aspx Greenwashing is the act of misleading the public about an organisation's environmental or sustainability practices or deceiving the public about how eco- (and ESG-) friendly a product or practice is 2022-07-18T22:00:00Z ae892a3a-a88b-42d4-9e1a-db2557488520 https://www.webberwentzel.com//News/Pages/preparing-for-an-investigation-into-your-transfer-pricing-practices.aspx In this series of articles, we will guide you through the process of dealing with a transfer pricing audit from SARS, what to expect and how to respond to ensure the best outcome. 2022-07-13T22:00:00Z 588e730d-bec1-42eb-a734-ce049f6db896 https://www.webberwentzel.com//News/Pages/importers-obligation-to-disclose-transfer-pricing-year-end-adjustments-under-the-customs-and-excise-act.aspx SARS' Customs Branch and National Targeting Unit have been focusing more extensively on the impact that transfer pricing year-end adjustments have on the value of imported goods. Advance notice of potential adjustments is required in terms of the Customs and Excise Act to avoid penalties. 2022-07-12T22:00:00Z 483de497-4356-4cb2-bacc-5e917f375c76 https://www.webberwentzel.com//News/Pages/financial-services-regulation-monthly-update-june-2022.aspx Keep up to date on the most important Financial Services Regulation developments in South Africa during June 2022. 2022-07-11T22:00:00Z eb1573f6-2643-4508-923c-f5416d25c6b8 https://www.webberwentzel.com//News/Pages/nemlaa-iv-will-introduce-changes-to-nema-appeals-some-positive-some-negative.aspx The recent enactment of the National Environmental Management Amendment Act IV (NEMLAA IV) will introduce significant changes to the environmental laws, including the NEMA appeal provisions. 2022-07-10T22:00:00Z eb351960-8d25-41f3-9980-1db92af530fc https://www.webberwentzel.com//News/Pages/new-visa-system-taking-flight-a-turbulent-period-for-foreign-employees-as-visa-application-backlogs-increase.aspx South Africa's immigration system sees a complete overhaul on the horizon starting with long term visa applications for foreign nationals wishing to stay for over three months in South Africa. 2022-07-06T22:00:00Z 60732449-ec90-48d9-af69-6cf37b45a75a https://www.webberwentzel.com//News/Pages/b-bbee-commission-findings-are-not-beyond-legal-scrutiny-so-says-the-high-court.aspx The High Court recently ruled that findings by the B-BBEE Commission against Sasol Oil were capricious and irrational in several respects and its recommendations constituted an abuse of power. 2022-07-04T22:00:00Z 0da17327-f7cf-46ba-9e6e-d8334ce16c06 https://www.webberwentzel.com//News/Pages/le-tour-de-ip.aspx The annual Tour de France was founded as a way to promote a brand and it is associated with numerous registered brands, providing a reminder of the importance of protecting IP. 2022-07-03T22:00:00Z 7b6afd07-60ec-401c-881d-b7c3144a8ff7 https://www.webberwentzel.com//News/Pages/fsca-regulation-plan-for-1-april-2022-to-31-March-2025.aspx The FSCA has published its Regulatory Plan for the next three years (from 2022 to 2025) to support transparency and help the industry to prepare for legislative changes. 2022-07-03T22:00:00Z 25830fd2-23e1-4e51-9861-475375fea45e https://www.webberwentzel.com//News/Pages/nemla-iv-will-tighten-rectification-processes.aspx The proposed amendments to the rectification application process are intended to tighten the risk associated with these applications and deter abuse. 2022-06-30T22:00:00Z 677349a0-1e02-41a9-8e90-fd429d71bdb2 https://www.webberwentzel.com//News/Pages/invalid-or-unfair-formulating-dismissal-claims-to-bypass-the-ccma-is-not-a-shortcut-to-the-labour-court.aspx The Labour Court has confirmed in a recent judgment that terminating a contract of employment can be invalid, but it does not always follow that employees are entitled to jump the queue at the Labour Couert for redress, and certainly not in circumstances in which the true dispute relates to an unfair dismissal claim governed by the Labour Relations Act. 2022-06-30T22:00:00Z 404025ac-5c16-44eb-9c46-4d79e2764b09 https://www.webberwentzel.com//News/Pages/supreme-court-of-appeal-provides-clarity-on-fica.aspx A recent Supreme Court ruling has clarified the duties of an accountable institution under the Financial Intelligence Centre Act (FICA) in a case of a bank customer wishing to close its account. 2022-06-30T22:00:00Z 7a136a36-563c-4e40-a353-9c6e4ad6d802 https://www.webberwentzel.com//News/Pages/nemla-iv-sets-the-scene-for-major-changes-to-financial-provisioning-laws.aspx The recently published NEMLA Act sets out the general principles, as well as mining-specific principles, on making financial provision for rehabilitation and closure of operations – which will soon come into force. 2022-06-28T22:00:00Z f5abe27f-fc4e-4aea-918f-798f3cddf711 https://www.webberwentzel.com//News/Pages/legal-issues-in-the-metaverse-part-2.aspx In this Part 2 of our Legal Issues in the Metaverse Series, we focus on the legal considerations for businesses that intend to commercialise opportunities in the Metaverse. 2022-06-23T22:00:00Z f9352c4f-61a0-4bed-aed4-1489d72debd7 https://www.webberwentzel.com//News/Pages/covid-19-regulations-eased-masks-gatherings-and-border-crossings-see-major-change-in-regulation.aspx In the later hours of 22 June 2022, the Minister of Health repealed major Covid-19 measures in place as the country sees the virus becoming more endemic. 2022-06-22T22:00:00Z 49b977cb-83d9-49c4-8765-5f1b97c582bf https://www.webberwentzel.com//News/Pages/sars-streamlines-auto-assessments-for-the-2022-tax-filing-season.aspx Taxpayers who are satisfied with their auto assessments need not take any further action, under the new procedures introduced by SARS for the 2022 tax filing season. 2022-06-22T22:00:00Z 6ef50f87-f21f-4590-bd4a-788632ceb027 https://www.webberwentzel.com//News/Pages/fsca-request-for-information-on-paid-up-members-of-retirement-funds.aspx Retirement funds and administrators have until 30 September 2021​ to provide information about paid-up members in the required format to the Financial Sector Conduct Authority. 2022-06-22T22:00:00Z 691e16eb-0a9d-4631-ba29-b4aa1473a4ba https://www.webberwentzel.com//News/Pages/national-treasury-sheds-light-on-its-thinking-around-retirement-reform.aspx In a recent conference, National Treasury Acting DG Ismail Momoniat explained National Treasury’s views on the two-pot retirement system, governance of umbrella funds and changes to Reg 28. 2022-06-22T22:00:00Z 9ce21fb0-8295-499c-9153-9874bc18f4cb https://www.webberwentzel.com//News/Pages/who-can-exercise-minority-rights-in-fundamental-transactions-and-is-it-necessary-to-hold-separate-scheme-meetings.aspx A decision of the High Court (Western Cape Division, Cape Town) deals with the questions of who can exercise minority rights in fundamental transactions and in what circumstances separate scheme meetings should be convened. 2022-06-21T22:00:00Z b8b8f6e4-d698-4a44-82ba-36b5eee6538d https://www.webberwentzel.com//News/Pages/unfairly-excluding-south-africans-from-employment-opportunities-in-favour-of-foreign-nationals-regarded-discrimination.aspx The employment of foreign nationals must not adversely impact the rights of unskilled South Africans and excluding South Africans from employment opportunities may constitute unfair discrimination. 2022-06-21T22:00:00Z 77d389a0-fb17-41e9-87c2-de238374f757 https://www.webberwentzel.com//News/Pages/seminar-invitation-webber-wentzel-financial-services-roundup.aspx Please join us for our upcoming seminar where the experts from our Financial Services Sector Group will present their key insights of the issues impacting the sector 2022-06-20T22:00:00Z f08cc4b5-be04-4cc8-9860-ea33b6496cd8 https://www.webberwentzel.com//News/Pages/supreme-court-of-appeal-upholds-minority-shareholder-rights-in-share-repurchase.aspx A recent decision of the Supreme Court of Appeal upholds the rights of dissenting minority shareholders in situations where a company intends to repurchase more than 5% of its issued shares of any particular class. 2022-06-13T22:00:00Z 80f574bb-1a33-494f-9f69-65b7c0a0304e https://www.webberwentzel.com//News/Pages/timing-is-everything-in-the-labour-court-dismissing-a-claim-due-to-inordinate-delay.aspx In a recent ruling, the Labour Court has clarified the circumstances under which an application may be made to dismiss a case because of inordinate delay by the referring litigant 2022-06-07T22:00:00Z a6dae5ab-063a-433f-ac09-4a9dd919f3ad https://www.webberwentzel.com//News/Pages/sars-publishes-income-tax-return-filing-dates-for-the-2022-year-of-assessment.aspx SARS has announced the deadline dates for filing income tax returns for the 2022 year of assessment as well as the details of those exempt from filing returns. 2022-05-30T22:00:00Z e51b4941-2119-4388-96c1-e6f94b74d65d https://www.webberwentzel.com//News/Pages/you-better-mean-it-when-you-say-I-am-out.aspx A recent Labour Court judgment has reinforced the unilateral nature of an employee’s resignation and clarified the legal authority of an administrator to hire employees. 2022-05-29T22:00:00Z 0f766085-d65e-485e-81ef-93220e0a242d https://www.webberwentzel.com//News/Pages/greater-esg-compliance-will-help-to-address-cost-and-reputational-problems-in-building-contracts.aspx ESG compliance is essential to address some of the environmental, social and governance problems that have beset the South African construction industry in recent years. 2022-05-23T22:00:00Z a13d912d-5faa-4786-ab05-eade028987b7 https://www.webberwentzel.com//News/Pages/new-harassment-code-will-require-employers-to-overhaul-existing-policies.aspx A new Code of Good Practice on the Prevention and Elimination of Harassment in the Workplace has become effective. The new code will require a total overhaul of sexual harassment and harassment policies that employers currently have in place as well as how these policies are implemented 2022-05-23T22:00:00Z 4b0b0f97-e196-4aee-a147-b741fdd2ebf0 https://www.webberwentzel.com//News/Pages/further-update-nema-financial-provisioning-regulations-2015-more-than-an-extra-year-added-to-comply.aspx The Minister of Forestry, Fisheries and the Environment has amended the transitional arrangements in the National Environmental Management Act (NEMA) Financial Provisioning Regulations, 2015 (FP Regs), for the fourth time. 2022-05-18T22:00:00Z 12351b71-6191-43eb-9c5c-41b21ee8d6d5 https://www.webberwentzel.com//News/Pages/third-party-cell-captive-conduct-standard-tabled-in-parliament.aspx The long-awaited conduct standard, "Requirements relating to third party cell captive insurance business" (2022 Conduct Standard), together with the Statement of Need and Intended Operation as well as the Consultation Report, was tabled in the National Assembly and National Council of Provinces recently. 2022-05-17T22:00:00Z ec32b5f1-73eb-450d-94e5-7a077ad341b4 https://www.webberwentzel.com//News/Pages/cutting-red-tape-amendments-to-the-listings-requirements-effective-from-1-June-2022.aspx Amendments to the JSE Listings Requirements to cut red tape and achieve effective, fit-for-purpose regulations for financial markets have been approved. 2022-05-12T22:00:00Z 33e6fd4a-d424-469f-92f8-a3d2acbf7f61 https://www.webberwentzel.com//News/Pages/legal-issues-in-the-metaverse-part-1.aspx We have compiled a series, "Legal issues in the Metaverse", in which we will unpack some of the legal considerations surrounding the Metaverse. In this edition, we are focusing on the Metaverse user (consumer). 2022-05-10T22:00:00Z 5fd2a28a-fd77-4c79-89f4-ab83fb5ec3ce https://www.webberwentzel.com//News/Pages/financial-services-regulation-monthly-update-april-2022.aspx Keep up to date on the most important Financial Services Regulation developments in South Africa during April 2022 2022-05-09T22:00:00Z ae1f2364-fab1-4275-8efd-210a5062f85f https://www.webberwentzel.com//News/Pages/chambers-and-partners-corporate-m-and-a-2022.aspx In this guide, the Webber Wentzel team of experts focus primarily on how M&A activity intensified in South Africa in 2021, as well as key trends seen in 2021, which are expected to persist into 2022. 2022-05-04T22:00:00Z 357e4142-78bd-408a-9e63-2856c98ba7ee https://www.webberwentzel.com//News/Pages/electronic-dispute-process-now-available-to-employers-objecting-to-sars-administrative-penalties.aspx SARS has enabled its current dispute process on eFiling to employers requesting a remission, or objecting and appealing against administrative penalties on late or non-submission of EMP501 Employer Reconciliation Declarations 2022-05-04T22:00:00Z 9a7b833e-2f4d-42a8-a9eb-ab3b61eb11b8 https://www.webberwentzel.com//News/Pages/supply-chain-risks-need-to-be-built-into-construction-contracts.aspx Current logistical bottlenecks present high risks for contractors in completing capital projects, for miners and other industries, and they need to protect themselves against penalties. 2022-05-02T22:00:00Z 8946cc95-ffc8-4db7-97e9-c931e48637c9 https://www.webberwentzel.com//News/Pages/insurance-informer-contempt-of-court-against-directors.aspx In a recent case, the SCA re-stated the circumstances under which directors of an entity may be held in contempt of court for actions taken by the entity. 2022-04-27T22:00:00Z 66d982f4-9f85-4241-8bfe-534a908e1cbb https://www.webberwentzel.com//News/Pages/POPIA-thoughts-and-perspectives-10-months-in.aspx Recent developments relevant to data protection issues offer some guidance for businesses, including in the event of data breaches and M&A transactions. 2022-04-24T22:00:00Z 25be7950-1834-425f-8871-c49897da6a84 https://www.webberwentzel.com//News/Pages/voting-against-the-adoption-of-business-rescue-plan-is-your-vote-inappropriate.aspx Creditors who vote against the adoption of a business rescue plan out of self-interest, without considering the rights of other affected parties, may risk having their votes deemed inappropriate by a court. 2022-04-19T22:00:00Z 4ebd2536-9312-4c61-abab-90951b00c353 https://www.webberwentzel.com//News/Pages/can-an-external-company-be-wound-up-in-sa-an-update.aspx A relevant ruling in the Steinhoff case gives welcome clarity on the status of insolvent external companies in South Africa 2022-04-19T22:00:00Z bb6c193d-36b0-40f1-b5ce-cb2aa17a90b7 https://www.webberwentzel.com//News/Pages/the-impact-of-public-interest-on-m-and-a-transations-in-2022.aspx Over the past few years, the scope of public interest considerations in mergers has expanded more in South Africa than in any other jurisdiction globally. 2022-04-06T22:00:00Z 469a7045-93ae-4f25-96ce-58c192fe09fa https://www.webberwentzel.com//News/Pages/national-treasury-launches-the-green-finance-taxonomy-paper.aspx National Treasury has launched South Africa’s first Green Finance Taxonomy, which will help investors and financial institutions make more informed decisions on “green” projects. 2022-04-04T22:00:00Z 80f7b634-2c38-4535-a98d-792a914ac899 https://www.webberwentzel.com//News/Pages/financial-services-regulation-monthly-update-march-2022.aspx Keep up to date on the most important Financial Services Regulation developments in South Africa during March 2022. 2022-04-03T22:00:00Z 8cdee86f-e9ba-4b94-924c-c379e64d4378 https://www.webberwentzel.com//News/Pages/competition-commission-increases-focus-on-digital-economy.aspx In 2020, the South African Competition Commission made clear its intention to increase its focus on the digital economy in South Africa. In its paper Competition in the Digital Economy, the Commission appeared to effectively provide a blueprint for its approach to tackling competition issues in this sector. 2022-03-31T22:00:00Z 20c650fd-eeb7-4688-9aa9-d66a5cc682b8 https://www.webberwentzel.com//News/Pages/business-rescue-what-about-the-shareholders.aspx Can shareholders block a business rescue practitioner’s plan to issue shares in the company as part of the business rescue plan, thereby diluting the shareholding of any class of shareholders? 2022-03-29T22:00:00Z 77861d65-7a79-4477-9775-2923abd7e425 https://www.webberwentzel.com//News/Pages/insurance-informer-prescription-and-joinder-applications-update.aspx The Webber Wentzel insurance team provides clients with regular updates on new developments in insurance law in South Africa. This update unpacks a recent medical malpractice case. 2022-03-22T22:00:00Z 8dc33aaa-fb34-428d-9e34-87e801592a6b https://www.webberwentzel.com//News/Pages/22-legal-developments-for-businesses-to-monitor-in-2022.aspx We have collated a snapshot of key themes to track in 2022 and of 22 legal developments for the year which you will need to keep a tab on. In 2022, various legal developments are expected to have an impact on businesses, particularly in the fields of liability, ESG, digital and economic transformation. 2022-03-22T22:00:00Z 1006eea0-a0e0-4441-8627-e5232168677a https://www.webberwentzel.com//News/Pages/sa-procurement-regulatory-regime-finds-itself-in-muddy-waters.aspx Regulatory uncertainty abounds in the procurement space after the recent Constitutional Court judgment upholding the Supreme Court of Appeal's decision to invalidate the 2017 Preferential Procurement Regulations. 2022-03-21T22:00:00Z d6b683c0-77f0-49d0-8123-61ae07f73e38 https://www.webberwentzel.com//News/Pages/sars-vision-2024-greater-efficiency-in-collections-but-questions-remain.aspx SARS plans to implement Vision 2024 with the objective of collecting taxes from individuals on a real-time monthly basis, but a number of practical issues need to be addressed. 2022-03-21T22:00:00Z 1f35e8a7-0097-4b01-bb36-905e10c856d0 https://www.webberwentzel.com//News/Pages/managing-covid-19-after-the-national-state-of-disaster.aspx A new Code of Practice has been issued to guide employers on measures that need to be taken in the workplace to contain Covid-19 infections, once the National State of Disaster ends. 2022-03-15T22:00:00Z a166f005-bc28-4dca-8f20-765de925848b https://www.webberwentzel.com//News/Pages/eu-proposed-directive-for-corporate-sustainability-due-diligence-unpacking-the-impact-for-sa-businesses.aspx The European Union (EU) published a proposed Directive on Corporate Sustainability Due Diligence ahead of sustainability becoming a legislated feature in the global economy. This EU proposal may affect South African businesses. 2022-03-14T22:00:00Z e981aa89-be22-44af-bf87-98846d47227b https://www.webberwentzel.com//News/Pages/you-are-not-entering-at-own-risk-covid-19-admission-policies-the-labour-court-weighs-in.aspx A recent Labour Court judgment has upheld an employer’s right to require employees to have a Covid-19 vaccination or provide a weekly negative test if they decline to be vaccinated, but it leaves several important questions unanswered. 2022-03-14T22:00:00Z cb344aa6-00ff-46d4-9a3e-4e071d45dd3d https://www.webberwentzel.com//News/Pages/access-insights-series.aspx ​​​​​​​​​​​To mark the culmination of the most recent topic of focus between Africa Legal and Webber Wentzel, we are proud to present a downloadable compilation of content focused on ‘access’ to new markets, sectors and technology. 2022-03-10T22:00:00Z 602351e0-43d2-4bec-ab7e-07a7efabc996 https://www.webberwentzel.com//News/Pages/strike-interdicts-identify-the-oaks-the-highest-court-finds.aspx A recent decision by the Constitutional Court has important implications for employers in relation to seeking final interdictory relief in a strike marred with unlawful conduct. 2022-03-09T22:00:00Z 677b1a8d-7258-482e-819a-a84f2d1f73b2 https://www.webberwentzel.com//News/Pages/esg-its-not-just-business-its-personal.aspx A greater emphasis is being placed on the human rights obligations of businesses than before, with likely moves towards binding treaties. 2022-03-07T22:00:00Z 34bb10cd-edf1-4d1f-926f-759aec2b7e7a https://www.webberwentzel.com//News/Pages/financial-services-regulation-monthly-update-february-2022.aspx Keep up to date on the most important Financial Services Regulation developments in South Africa during December 2021 to February 2022. 2022-03-06T22:00:00Z 9524fbeb-140e-4f51-aee4-293a365b7ab4 https://www.webberwentzel.com//News/Pages/significant-shift-in-environmental-landscape-anticipated-as-NEMLAA4-enters-home-stretch.aspx The long-awaited NEMLAA4 has been sent to the President for signature concluding a 6-year long parliamentary process. NEMLAA4 once signed will introduce higher environmental compliance standards across the board, as well as stricter penalties for environmental transgressions. 2022-03-06T22:00:00Z 8120f325-b0fb-46d7-bd1f-c6ccf35ae5a2 https://www.webberwentzel.com//News/Pages/covid-19-organisations-and-their-donors-are-in-sars-cross-hairs.aspx SARS appears to be reviewing the tax deductibility of donations made after 30 September 2021 to organisations set up to provide economic forms of disaster relief for Covid-19. 2022-03-06T22:00:00Z 7d79e392-4281-41cc-ba67-82c05fd52544 https://www.webberwentzel.com//News/Pages/Curbing-abuse-of-the-Employment-Tax-Incentive-project.aspx Amendments to the Employment Tax Incentive Act, 2013 geared towards halting the abuse of employment tax incentives came into force on 1 March 2022 2022-03-02T22:00:00Z 4fd2a08b-9432-46a0-95d2-33703cc802a0 https://www.webberwentzel.com//News/Pages/good-news-in-budget-2022-but-implementation-still-the-key.aspx On 25 February 2022, Webber Wentzel hosted a client webinar, "Post Budget Speech Panel Discussion | What does the 2022 South Africa budget mean for you and your company?" Panellists at the webinar were Dr Azar Jammine - Director & Chief Economist of Econometrix, Brad Webber, Samantha Pokroy, Brian Dennehy and Julian Jones. Here's some of the insights from the panel of experts. 2022-02-27T22:00:00Z 5d2b4e9b-06a1-4b33-b0af-a977bf00ca03 https://www.webberwentzel.com//News/Pages/A-measured-approach-Budget-2022.aspx Webber Wentzel’s Tax Team welcomed a balanced National Budget presented by Minister of Finance Enoch Godongwana on Wednesday. 2022-02-23T22:00:00Z 112a595e-8213-4536-b653-56dc8c7cc881 https://www.webberwentzel.com//News/Pages/Resources-and-dedication-are-pushing-AfCFTA-forward.aspx The African Continental Free Trade Agreement is making steady advances, with more than 80% of the first tariff lines having been agreed under the Rules of Origin. 2022-02-23T22:00:00Z 139d3cef-596d-4096-849c-f0de21c0e439 https://www.webberwentzel.com//News/Pages/New-Draft-Interpretation-Note-on-Intra-group-Financial-Transactions-brings-welcome-clarity.aspx SARS has released a new draft interpretation note that will help to clarify issues around intra-group loans, but several key issues still need to be addressed. 2022-02-22T22:00:00Z 84458509-6d0b-4cb9-96d6-88b6cb42c346 https://www.webberwentzel.com//News/Pages/future-trends-in-green-financing.aspx Green financing is likely to evolve over the next few years, with financial institutions increasingly requiring more accurate measurements of borrowers’ achievements against targets. 2022-02-22T22:00:00Z f6264de7-7c45-4e8c-ac74-c4bb921d8942 https://www.webberwentzel.com//News/Pages/Climate-change-bill-introduced-in-Parliament.aspx The Climate Change Bill, which will implement South Africa’s effective climate change response, has been introduced in Parliament. 2022-02-21T22:00:00Z a78302b0-252d-46ff-86ed-075fcc65690b https://www.webberwentzel.com//News/Pages/National-Treasury-makes-strides-on-devising-new-risk-free-bank-rate.aspx Details of a new wholesale overnight lending rate, Zaronia, will be published this year, with the aim of providing a more reliable rate to replace Jibar. 2022-02-21T22:00:00Z d5c2db6d-4f1f-4808-a7a7-4c7c1d2c0c69 https://www.webberwentzel.com//News/Pages/webber-wentzel-recognised-in-chambers-global-2022.aspx Earlier this year, Webber Wentzel was awarded South Africa Law Firm of the Year at the Chambers Africa Awards 2022. Yesterday, Chambers Global released its 2022 results, ranking law firm practices and lawyers according to their client service, commercial vision, business understanding, diligence and value for money. 2022-02-17T22:00:00Z 3ec62fe2-a6e5-4e67-b6e4-dbc26b95a96c https://www.webberwentzel.com//News/Pages/Consumers-may-have-the-right-to-access-open-source-software-in-devices.aspx A US body has launched a legal challenge to Vizio, a TV manufacturer, for failing to provide the source code for the software in its smart TV, which may have implications for other software developers. 2022-02-15T22:00:00Z 7bf65a19-7ed7-4492-856b-99fce67fe902 https://www.webberwentzel.com//News/Pages/The-aged-usufructuary.aspx Valuing a usufruct for estate duty purposes may incur a greater tax liability than disposing of it while the usufructuary is alive and paying donations tax, transfer duty and CGT. 2022-02-14T22:00:00Z d0420b16-0f9b-4a00-8773-4cd9d9175e0d https://www.webberwentzel.com//News/Pages/The-tax-burden-on-annuitants-spread-not-lightened.aspx The latest move by SARS to require the withholding of PAYE from annuity payments at an "Effective Tax Rate" as required in directives issued to payers of annuities may help some annuitants to plan their finances, but may disadvantage others. 2022-02-14T22:00:00Z 5b6332cc-7fec-481d-b719-53f73e1559a6 https://www.webberwentzel.com//News/Pages/to-object-or-take-sars-on-review-that-is-the-question.aspx A recent transfer pricing case raised a number of interesting issues about procedure in the event that a taxpayer disputes SARS’s findings following an audit 2022-02-14T22:00:00Z 5a062657-9cb9-4a14-994e-a364cf5ede16 https://www.webberwentzel.com//News/Pages/EAP-Registration-Deadline-Extended.aspx Environmental Assessment Practitioners have been granted an extension to 8 August 2022 to register with the Environmental Assessment Practitioners Association of South Africa. Unless they register, they cannot take primary responsibility for Environmental Impact Assessments. 2022-02-14T22:00:00Z f8fdf2ac-b66e-4507-a64e-9679844170c4 https://www.webberwentzel.com//News/Pages/competition-law-annual-review-2021-and-2022.aspx 2021 was an important year for competition law across the continent. Key focus areas of the South African competition authorities were primarily public interest and digital markets. 2022-02-13T22:00:00Z 2d79bc26-f8b0-4a4e-a627-ba4eb9fdf09a https://www.webberwentzel.com//News/Pages/a-cross-jurisdictional-assessment-of-the-development-of-climate-change-related-legislation-across-africa.aspx This cross-jurisdictional assessment unpacks 8 key questions across 9 African jurisdictions, namely: Botswana, Kenya, Mozambique, Namibia, Nigeria, South Africa, Tanzania, Zambia and Zimbabwe. 2022-02-08T22:00:00Z 7d60e8a9-d292-4cc6-8787-2bff5793b801 https://www.webberwentzel.com//News/Pages/are-personal-rights-assets-for-capital-gains-tax-purposes.aspx Although personal rights are clearly assets for CGT purposes, they add a layer of complexity which has not been clarified in recent court decisions. 2022-02-07T22:00:00Z f2caff4c-634a-4dcb-b6a2-e0b00e1623d1 https://www.webberwentzel.com//News/Pages/directors-face-potential-liability-for-climate-change-risks.aspx Directors face potential liability if they fail to carry out their fiduciary duties to curb climate change risks and do not make complete disclosures about climate-related risks. 2022-02-07T22:00:00Z 614b003e-7f1c-42bc-9b19-e722b679b46b https://www.webberwentzel.com//News/Pages/alternative-dispute-resolution-the-problematic-problem-solver.aspx While alternative dispute resolution helps to achieve a speedier outcome for commercial disputes than a court process, it presents challenges in developing legal jurisprudence. 2022-02-07T22:00:00Z 86dbd37e-2dab-4576-bd36-c91bcccecec0 https://www.webberwentzel.com//News/Pages/treasury-plots-for-earlier-access-to-retirement-savings-and-better-governance.aspx National Treasury recently published two papers on retirement reforms for public comment, the first proposes a “two-pot” system to improve accessibility and preservation of retirement savings, and the second to improve governance of umbrella funds 2022-02-03T22:00:00Z 2f8ca13e-be3f-4e1e-9db5-466a1877cedd https://www.webberwentzel.com//News/Pages/conflict-of-interest-moonlighting-and-the-duty-of-good-faith.aspx A recent judgment in the Labour Appeal Court (LAC) has re-emphasized that employees have a duty of good faith to their employers, by disclosing material activities that may result in a conflict of interest. 2022-01-31T22:00:00Z ab3fdd4c-5c1f-4cb5-801d-ba819683fe7e https://www.webberwentzel.com//News/Pages/8-data-hygiene-tips-to-mark-international-data-privacy-day.aspx 28 January is International Data Privacy Day - a day dedicated to reminding nations, businesses and individuals of the importance of good data protection practices. However, data privacy is really a 365-day-a-year event, and everyone that processes personal information should be constantly thinking about how to improve their data protection strategies. 2022-01-27T22:00:00Z 2ec4ed8e-c703-4971-8676-2baf0bb3663d https://www.webberwentzel.com//News/Pages/cancellation-of-contracts-revisited-tax-insights-on-the-issue.aspx Parties wishing to cancel a contract should try to do so within the same year of assessment as it was entered into, to avoid adverse cash-flow consequences. 2022-01-26T22:00:00Z 6336c973-e2cc-42d2-a581-317ec652bb5e https://www.webberwentzel.com//News/Pages/access-to-banking-and-insurance-in-africa-and-the-role-of-technology.aspx Africa may be the most underbanked continent in the world, but access to financial markets is gaining momentum, thus presenting a myriad of opportunities – and risks. A team of experts share their views on this topic with Africa Legal’s Tom Pearson. 2022-01-20T22:00:00Z a1cd0172-d94b-47e8-94b7-87404dfd879d https://www.webberwentzel.com//News/Pages/employee-dismissed-for-abusing-sick-leave-to-watch-rugby.aspx A recent judgement in the Labour Appeal Court (LAC) held that an employee can be fairly dismissed for dishonesty if the employee claims to be ill and then uses sick leave entitlement to attend a sports match. 2022-01-19T22:00:00Z 7950f7f5-b6c5-4f32-a080-db20181f6cf2 https://www.webberwentzel.com//News/Pages/south-african-law-year-to-come-2022-and-year-in-review-2021.aspx Webber Wentzel has contributed to the Linklaters' global guide series - Year to Come 2022 and Year in Review 2021. The series brings together analysis, thinking and highlights from lawyers around the world across multiple jurisdictions, in the form of topic-specific and jurisdictional guides. 2022-01-17T22:00:00Z e6c2077f-d74c-4c4a-bd02-10ba9034a383 https://www.webberwentzel.com//News/Pages/employers-and-employees-cautioned-against-false-termination-information.aspx In a recent judgement, the Labour Court found that misrepresentation of facts in a UI-19 form is a criminal offence under the Unemployment Insurance Act, 63 of 2001 (UIA). 2022-01-16T22:00:00Z 92c19a22-ed60-4040-927d-2b74eb970522 https://www.webberwentzel.com//News/Pages/proposed-model-and-legislation-for-an-apa-programme-in-south-africa.aspx SARS has published a draft model and proposed legislation to establish an advance pricing agreement programme and is inviting comments on it by the end of January. 2021-12-19T22:00:00Z 3066fc49-5058-4785-ab1e-6fcd3f3eb5d8 https://www.webberwentzel.com//News/Pages/financial-services-regulation-monthly-update-november-2021.aspx Keep up to date on the most important Financial Services Regulation developments in South Africa during November 2021. 2021-12-07T22:00:00Z 2389c5ac-fc8b-41e2-9783-64379ac043ee https://www.webberwentzel.com//News/Pages/should-an-employee-accept-a-voluntary-severance-package-when-business-rescue-proceedings-are-anticipated.aspx When business rescue is looming, it may be better for employees to wait before accepting a voluntary severance package, as they will rank higher as creditors if they accept the VSP after the business rescue plan is adopted 2021-12-05T22:00:00Z 3cf1aacd-98ac-46cc-838a-259c0340af90 https://www.webberwentzel.com//News/Pages/proposed-changes-to-the-extended-producer-responsibility-regulations.aspx Amendments to the Extended Producer Responsibility Regulations have been published for public comment, affecting the lighting, electrical and electronic equipment, and paper and packaging sectors 2021-12-05T22:00:00Z cd13e00a-80fb-4865-bb23-e2fef22aa98c https://www.webberwentzel.com//News/Pages/update-on-the-copyright-amendment-bill-and-the-performers-protection-amendment-bill.aspx Some of the proposed amendments to the Copyright Amendment Bill and the Performers’ Protection Amendment Bill will shortly be advertised for public comment 2021-12-02T22:00:00Z d63bab69-9403-43aa-a0e4-a4d5fc7882ec https://www.webberwentzel.com//News/Pages/the-cybercrimes-act-becomes-partially-operational.aspx Certain provisions of the Cybercrimes Act become operational on 1 December 2021, as South Africa gets closer to protecting businesses and individuals against cyber attacks and malicious communications. 2021-11-30T22:00:00Z 935c3bc4-ae89-4ef7-9c39-329ef14952a8 https://www.webberwentzel.com//News/Pages/national-credit-act-case-law-update.aspx There have been two important case law developments under the National Credit Act, 2005. 2021-11-29T22:00:00Z 5beb5f52-774d-4730-b9a6-73935ccb0a50 https://www.webberwentzel.com//News/Pages/winding-up-an-external-company-in-south-africa.aspx Is it possible for creditors to apply for the winding up of a South African branch of a foreign company (“an external company”), even if the foreign holding company remains solvent, since the two entities are legally one and the same entity? 2021-11-17T22:00:00Z 7c983999-1749-4dbd-b8f3-64cc8c7cbf84 https://www.webberwentzel.com//News/Pages/information-regulator-publishes-its-paia-manual.aspx The Information Regulator has published its manual, setting out how requests for access to information can be made to it, the categories of records that it holds, and how it processes personal information 2021-11-17T22:00:00Z 2179b3e1-272e-4e91-9b88-a7ba777a9f42 https://www.webberwentzel.com//News/Pages/post-cop26-reflections-more-programmes-policies-and-resources-for-mitigation-and-adaptation.aspx Various Outcome Statements were published after the two-week COP 26 conference. They make it clear that both mitigation and adaptation efforts need to intensify, in global partnership 2021-11-16T22:00:00Z 9f4266bf-8d08-498c-b6ba-c26a299eb3a4 https://www.webberwentzel.com//News/Pages/supreme-court-of-appeal-clarifies-position-on-trading-of-water-use-entitlements.aspx The SCA has recently found that section 25 of the National Water Act allows for the transfer of water use entitlements. This decision is important as it is contrary to the position held by the Department of Water and Sanitation and may also have significant implications from a deal making perspective. 2021-11-11T22:00:00Z 1feb6a67-c6bb-466f-8035-184c0f32ea15 https://www.webberwentzel.com//News/Pages/this-artgreater-availability-of-warranty-and-indemnity-insurance-could-unlock-more-deals-in-africa.aspx Warranty and indemnity insurance for private equity transactions can be challenging to obtain outside certain jurisdictions in Africa, but there may be ways to increase its availability. 2021-11-11T22:00:00Z 70840ddb-0074-484f-a421-67ad79f817c2 https://www.webberwentzel.com//News/Pages/private-sector-involvement-is-key-for-sustainable-cities-and-towns.aspx Creating sustainable and environmentally-friendly cities is a central feature of climate change adaptation, embracing themes such as AI, IP law and post-mining economies 2021-11-10T22:00:00Z afa9eab1-1190-42c5-b9af-c8e76b8bb6fb https://www.webberwentzel.com//News/Pages/the-insurance-odyssey-2021-digi-brochure.aspx Webber Wentzel recently partnered with our alliance and relationship firms to prepare a new insurance focused insight series titled "the Insurance Odyssey 2021". 2021-11-07T22:00:00Z 661d62c0-25f7-4bc1-830e-88b8fb963e87 https://www.webberwentzel.com//News/Pages/technology-is-the-key-to-unlocking-a-green-future.aspx According to several reports, the Southern Africa interior is warming at twice the global rate. Significant changes to long-term weather patterns, agriculture and food security, water availability and biodiversity are likely and their effects disastrous. Existing and new technologies will be critical to mitigate and manage the damage of global warming. 2021-11-04T22:00:00Z 95b23ee9-d7a2-4a64-9655-cccc1c69551b https://www.webberwentzel.com//News/Pages/financial-services-regulation-monthly-update-october-2021.aspx Keep up to date on the most important Financial Services Regulation developments in South Africa during October 2021. 2021-11-03T22:00:00Z 498646e4-1270-4e44-a46a-3b321acb2cd1 https://www.webberwentzel.com//News/Pages/south-africas-energy-landscape-evolves-partly-driven-by-climate-change-goals.aspx Legislative reforms are making South Africa’s energy sector greener and more competitive, which will encourage economic growth and help the country meet its climate change commitments 2021-10-20T22:00:00Z 2a8e0106-5943-4c33-bbc9-a10664a99364 https://www.webberwentzel.com//News/Pages/information-regulator-publishes-an-invitation-for-public-comments-on-new-popia-regulations.aspx New amended draft regulations on POPIA have been published for comment, covering various steps that people can take in exercising their rights under POPIA and how businesses can request consent for direct marketing purposes 2021-10-19T22:00:00Z 4aab6ec5-3547-4af3-a281-2b47a1309e60 https://www.webberwentzel.com//News/Pages/mandatory-vaccination-in-the-workplace-considerations-for-employers.aspx Various unanswered questions around mandatory vaccination may be tested in the courts after several organisations have announced that they are implementing mandatory vaccination policies at their workplaces 2021-10-19T22:00:00Z 6a774c14-2cd6-4e77-9271-3a285bfa8981 https://www.webberwentzel.com//News/Pages/south-africa-innovates-in-sustainable-finance-for-biodiversity-protection.aspx South Africa was the first country in the world to grant the tax concession in Section 37D of the Income Tax Act to protect biodiversity, which provides a sustainable financing solution 2021-10-18T22:00:00Z 94ae23b7-2271-43fc-9ec3-765f8f90ce01 https://www.webberwentzel.com//News/Pages/a-new-chapter-has-opened-for-commercial-funding-of-sustainability-projects.aspx Innovative funding for sustainability projects is spurring legal firms like Webber Wentzel to innovate also in the loan agreements that they are drafting for clients 2021-10-18T22:00:00Z 942acc96-39a3-4249-9d7f-ebfe83d29b2d https://www.webberwentzel.com//News/Pages/paia-guide-published-by-the-information-regulator-on-12-october-2021.aspx An updated PAIA Guide has been published which provides easy-to-understand direction on how to obtain various items of information from an organisation 2021-10-17T22:00:00Z 6c9fd42d-bf70-4ba8-8e42-637bf6246a59 https://www.webberwentzel.com//News/Pages/cop26-what-it-means-for-south-africa-and-africa.aspx This series of articles leading up to and accompanying the COP26 conference, Webber Wentzel is focusing on what the conference means for South Africa and Africa and, specifically on businesses operating in Africa. 2021-10-17T22:00:00Z a3f54ba8-b259-4991-92f0-1f36e50f6a8d https://www.webberwentzel.com//News/Pages/the-2021-un-climate-change-conference-what-it-means-for-south-africa.aspx At the United Nations climate change conference in Paris (COP21), governments agreed that mobilising stronger and more ambitious climate action is urgently required to achieve the goals of the Paris Agreement. 2021-10-17T22:00:00Z 45eeebfb-342e-407b-a64e-8881aed48440 https://www.webberwentzel.com//News/Pages/what-does-the-just-transition-look-like-in-south-africa.aspx Ahead of COP26 later this month, South Africa's commitment to the Just Transition will be a crucial element of its negotiating position. 2021-10-17T22:00:00Z b824520e-3080-42b3-8a90-03cacea22a28 https://www.webberwentzel.com//News/Pages/tighten-the-esg-focus-or-face-litigation.aspx Litigation on Environmental, Social and Governance matters is rising in volume, both globally and domestically, but there are various steps that companies can take to mitigate the risks 2021-10-13T22:00:00Z 365f85b7-fe9f-496a-8900-63149b2d357a https://www.webberwentzel.com//News/Pages/the-companies-amendment-bill-2021-could-have-unintended-consequences-for-business-rescue.aspx Proposed amendments to sections 135 and 145 of the Companies Act raise various concerns related to post-commencement financing in the business rescue process 2021-10-06T22:00:00Z 12848898-c459-4dee-87b3-0b67839218c9 https://www.webberwentzel.com//News/Pages/new-draft-companies-amendment-bill-snapshot-of-key-proposed-amendments.aspx A new draft of the Companies Amendment Bill has been published. Although the Bill clarifies many important company law issues; several ambiguities related to the current Act remain. 2021-10-03T22:00:00Z 4250d93b-1e62-45ed-8cb5-0bfe7a6a73d6 https://www.webberwentzel.com//News/Pages/the-role-of-incapacity-in-dismissals-for-misconduct.aspx A recent judgment* by the Labour Court addresses the role that incapacity can play when an employee is charged with misconduct, and whether an employer is required to exclude the possibility of incapacity in these circumstances. 2021-10-03T22:00:00Z 400297c4-7b51-453d-aac6-b62da532e6e0 https://www.webberwentzel.com//News/Pages/financial-services-regulation-monthly-update-september-2021.aspx Keep up to date on the most important Financial Services Regulation developments in South Africa during September 2021. 2021-09-29T22:00:00Z 673a6935-8567-44ca-bf15-db2423b4bb50 https://www.webberwentzel.com//News/Pages/complex-issues-arise-in-limiting-the-rights-of-the-non-vaccinated.aspx The South African government may introduce “vaccine passports”, following moves by authorities in other jurisdictions, and the limitation of constitutional rights is arguably justifiable 2021-09-28T22:00:00Z 7417c33b-052a-4fff-a740-fab7d2f55fe2 https://www.webberwentzel.com//News/Pages/keep-your-creditors-close-but-your-lawyers-closer.aspx Although companies in financial distress, and their creditors, are often reluctant to pay for legal advice, having legal guidance to navigate the intricacies of the business rescue process can help to avoid costly mistakes 2021-09-22T22:00:00Z 1a1c6ff7-e10a-4e85-bfd0-6f24de3bfb20 https://www.webberwentzel.com//News/Pages/chinas-new-privacy-law-its-impact-on-south-african-organisations.aspx South African businesses with links to China need to be aware of the country’s recently-passed Personal Information Protection Law (PIPL), which comes into force in November 2021 2021-09-21T22:00:00Z 40be11d2-e849-4665-8ab5-fb3bfc33a061 https://www.webberwentzel.com//News/Pages/resolving-customs-and-excise-disputes-with-sars-alternative-dispute-resolution-part-2-of-4-part-series.aspx There are various mechanisms to resolve disputes with SARS' Customs and Excise divisions. In this article, we consider the alternative dispute resolution procedure. 2021-09-19T22:00:00Z 8abb8f0f-6866-4c43-95e0-dd74691b5304 https://www.webberwentzel.com//News/Pages/lexology-getting-the-deal-through-merger-control-2022.aspx Webber Wentzel has contributed to the Lexology Getting The Deal Through Merger Control 2022 South Africa chapter. 2021-09-07T22:00:00Z 45c1184d-7c66-4108-8113-3bfc12e63305 https://www.webberwentzel.com//News/Pages/comesa-competition-commission-issues-first-ever-merger-related-fine.aspx On 6 September 2021, the COMESA Competition Commission (CCC) issued its first fine for failure to notify a transaction to the CCC within the prescribed time period under Article 24 (1) of the COMESA Competition Regulations of 2004. 2021-09-06T22:00:00Z 0b02296d-ceb0-4b91-a6bf-9cddf829dc0d https://www.webberwentzel.com//News/Pages/managing-mental-health-issues-in-the-workplace.aspx Managing mental health related issues in the workplace can be difficult. Employers should manage employees with mental health related issues carefully and fairly, working with, rather than against, employees with mental health related issues. This may alleviate the need to terminate an employee's employment and assist the employee in dealing with their mental illness. 2021-09-01T22:00:00Z b861dd29-d259-49ad-8831-fd4702d15ac3 https://www.webberwentzel.com//News/Pages/financial-services-regulation-monthly-update-august-2021.aspx Keep up to date on the most important Financial Services Regulation developments in South Africa during August 2021. 2021-08-30T22:00:00Z e473dd28-350c-44c2-9387-c83263181a9d https://www.webberwentzel.com//News/Pages/popia-training-ready-steady-go.aspx POPIA. Non-compliance can result in lost stakeholder trust, reputational harm, administrative fines, damages claims and even imprisonment.  Expert training can be a significant step in ensuring that your organisation is POPIA compliant. 2021-08-24T22:00:00Z 3dfaf6d5-e9b2-406c-afbd-c7294c56fedf https://www.webberwentzel.com//News/Pages/a-journey-of-growth-and-success.aspx Webber Wentzel Senior Partner Christo Els and Managing Partner, Sally Hutton, chat to Tom Pearson in a podcast focussing on the growth and success of one of Africa’s foremost law firms. 2021-08-09T22:00:00Z 3b57bf5a-41f9-44ff-b3ba-cdf85e141104 https://www.webberwentzel.com//News/Pages/no-doge-ing-the-tax-bill-on-cryptocurrency-transactions.aspx SARS is tightening tax collection on cryptocurrency transactions, which makes it important to distinguish between events that will trigger income tax rates or CGT rates. 2021-08-03T22:00:00Z d7499200-7626-40c9-95d2-6a3ecb307cca https://www.webberwentzel.com//News/Pages/financial-services-regulation-monthly-update-july-2021.aspx Keep up to date on the most important Financial Services Regulation developments in South Africa during July 2021. 2021-08-02T22:00:00Z c615fd9e-b56f-47aa-b5fd-814c5783fd47 https://www.webberwentzel.com//News/Pages/a-new-global-taxation-regime-is-in-the-pipeline-start-preparing-now.aspx The recent agreement by 130 of the 139 countries participating in the OECD/G20 Inclusive Framework (IF) to implement the two-pillar package will result in a fundamental shift in the way international taxation has worked in the past. It “wipes the slate clean”. 2021-07-28T22:00:00Z 11cf7814-772a-442d-b8f2-d0822c78179b https://www.webberwentzel.com//News/Pages/a-guide-to-employers-tax-obligations-after-damage-to-their-premises.aspx The recent looting and damage to businesses in KwaZulu-Natal and Gauteng has had a devastating impact on many businesses, both small and large. In some cases, the damage is so severe that the business cannot continue to produce or sell, and valuable data may have been lost, including employee and tax records. 2021-07-27T22:00:00Z 07794908-3a55-40b7-bc9a-83432d467458 https://www.webberwentzel.com//News/Pages/tokyo-2020-its-not-a-typo.aspx The Tokyo Olympics are taking place under the “2020” brand for a number of reasons related to intellectual property and the unusual circumstances around this year’s event 2021-07-25T22:00:00Z e67aacda-6219-4955-a915-f4ca82d2e3e0 https://www.webberwentzel.com//News/Pages/disclosure-of-third-party-funding-arrangements.aspx AFSA International – a branch of the Arbitration Foundation of Southern Africa – has recently released its new rules, which require the disclosure of third-party funding (TPF) arrangements in the international arbitrations it administers. 2021-07-22T22:00:00Z 8118d85c-69dd-401e-9242-476ca3b6305f https://www.webberwentzel.com//News/Pages/the-complex-tax-consequences-of-riot-insurance-payments.aspx Businesses able to claim from SASRIA for damage to premises or equipment from the recent unrest need to be aware of the tax implications of payouts 2021-07-20T22:00:00Z d96807cf-e102-4817-a05f-b04c466a9645 https://www.webberwentzel.com//News/Pages/civil-unrest-and-public-looting-managing-key-employment-issues.aspx Employers seeking an appropriate response to the civil unrest and public looting in Gauteng, KwaZulu-Natal and other parts of South Africa will have to consider different factual circumstances. 2021-07-14T22:00:00Z 69e656e6-4447-4f66-a138-402f87f8024f https://www.webberwentzel.com//News/Pages/sa-riots-does-force-majeure-apply.aspx Businesses experiencing disruption from the recent events in South Africa may be able to invoke force majeure clauses in contracts, or the law of supervening impossibility, depending on the circumstances 2021-07-14T22:00:00Z 5599b4de-e129-42c2-b146-406aeb792c61 https://www.webberwentzel.com//News/Pages/sa-riots-limitations-on-insurance-claims.aspx Businesses seeking to recover losses from the widespread damage caused by recent riots and looting recently need to act promptly in filing claims to SASRIA 2021-07-14T22:00:00Z 30aa538c-e27b-4276-b072-a5ca23348790 https://www.webberwentzel.com//News/Pages/riots-in-sa-what-happens-under-a-state-of-emergency-declaration.aspx If the President decides to declare a state of emergency as a result of the recent extensive looting and unrest, it will be different from those declared during apartheid 2021-07-14T22:00:00Z 59f3801b-a926-4139-af66-69b421b67b56 https://www.webberwentzel.com//News/Pages/competition-block-exemptions-for-the-security-of-supply-of-essential-goods.aspx On 15 July 2021, the Minister of Trade, Industry and Competition issued Block Exemptions for the Security of Supply of Essential Goods (Government Gazette No.44854) (the Essential Goods Exemption) – in effect from today until 15 August 2021. 2021-07-14T22:00:00Z 693f3162-c162-488f-8a77-b2ebefe972ba https://www.webberwentzel.com//News/Pages/new-draft-guideline-for-climate-change-impact-assessments-to-be-undertaken-when-pursuing-environmental-consent-applications.aspx A Climate Change guideline will shortly be published to assist with incorporating climate change considerations in various applications for environmentally-related licences 2021-07-13T22:00:00Z 4d637cf0-1422-4147-aad5-69f84d91e726 https://www.webberwentzel.com//News/Pages/popia-has-unexpected-implications-for-b-bbee-schemes.aspx Sharing personal information of trust beneficiaries to verify black ownership under the scorecards requires companies and trusts to be aware of POPIA requirements. 2021-07-13T22:00:00Z f4bc943f-db0c-4de3-848c-69ef8d17bd3a https://www.webberwentzel.com//News/Pages/fsca-communication-on-electronic-signatures-and-pre-populated-documents.aspx The Financial Sector Conduct Authority (FSCA) has raised concerns about the potential risks of financial services providers using clients’ electronic signatures for financial transactions when the client is not present. 2021-07-12T22:00:00Z 6fc4cb28-5a8d-44f7-9c31-0c3f90fe0fab https://www.webberwentzel.com//News/Pages/to-compile-a-paia-manual-or-not-to-compile-a-paia-manual-that-is-the-question.aspx Certain entities are exempt from compiling a PAIA Manual until 31 December 2021, but this depends on various factors, such as the type of entity, the sector in which the entity operates and the entity's total annual turnover or number of employees. 2021-07-05T22:00:00Z 945bde81-6f47-430d-b8b6-5da18f1a032f https://www.webberwentzel.com//News/Pages/Employer-Roles-on-Mandatory-Vaccination-Roll-outs.aspx Employers considering putting a mandatory Covid-19 vaccination policy in place need to take several factors into account, including appropriate steps if an employee refuses 2021-07-05T22:00:00Z d3e2d7f4-532a-47ae-997a-ae1bf1122d11 https://www.webberwentzel.com//News/Pages/financial-services-regulation-monthly-update-june-2021.aspx Keep up to date on the most important Financial Services Regulation developments in South Africa in June 2021. 2021-07-05T22:00:00Z 19d13712-96e9-45ba-9128-f1c9cf592d40 https://www.webberwentzel.com//News/Pages/transferring-listed-shares-to-an-offshore-exchange.aspx The recently-introduced Section 9K to the Income Tax Act triggers a potential tax liability when dual-listed shares are migrated from a South African to an offshore stock exchange. 2021-07-05T22:00:00Z 128ed887-6244-4ec6-b931-56e93d05e9ff https://www.webberwentzel.com//News/Pages/competition-law-africa-quarterly-update-june-2021.aspx Keep up to date on the most important competition law developments across Africa for the second quarter of 2021. 2021-07-05T22:00:00Z 945ea7aa-5949-46a3-8c98-a547baf50585 https://www.webberwentzel.com//News/Pages/highest-court-finds-that-dismissed-employees-compensation-for-procedural-unfairness-may-be-reduced.aspx The Constitutional Court has handed down a judgment confirming that it can reduce compensation awarded for procedurally unfair dismissals. The case also shines a light on the real costs of employers not following the correct processes – legal costs, punitive costs, and time with protracted litigation. 2021-06-30T22:00:00Z d6f3270c-52c7-4718-b7d2-b85d9d026755 https://www.webberwentzel.com//News/Pages/the-impact-of-the-impending-aarto-act-on-employers.aspx The Administrative Adjudication of Road Traffic Offences Act 4 of 2019 (AARTO) comes into effect on 1 July 2021. AARTO intends to address non-compliant behaviour to road traffic laws and reduce the number of road accidents in South Africa. AARTO will also, however, impose new obligations on employers. 2021-06-29T22:00:00Z a4c402eb-eec0-4065-a4b4-360ee7b5e0d3 https://www.webberwentzel.com//News/Pages/dismissing-employees-for-not-observing-workplace-covid-19-protocols.aspx Two recent decisions from labour dispute resolution forums have dealt with discipline of employees for failing to observe Covid-19 protocols – one dismissal was found to be fair while the other unfair. Understanding the circumstances and differentiators of these two decisions is important for employers. 2021-06-29T22:00:00Z 8d84a762-c075-4069-ab7d-451465ce7e04 https://www.webberwentzel.com//News/Pages/emergency-arbitrators-afsas-latest-innovation.aspx The Arbitration Foundation of South Africa (AFSA) is the latest of a growing number of leading arbitral institutions to incorporate the appointment of an emergency arbitrator and emergency arbitration provision into its new international rules (the new rules). This is a welcome step by AFSA in promoting South Africa as a modern arbitration destination. 2021-06-29T22:00:00Z 0d32990b-3ae1-4a56-8ab8-3bc23dec1f71 https://www.webberwentzel.com//News/Pages/clarity-on-popia-exemptions-and-information-officer-registration.aspx The Information Regulator has published guidance for organisations on applying for exemptions from POPIA and appointing information officers, ahead of the 30 June 2021 deadline for compliance 2021-06-23T22:00:00Z 9adb075b-0f0c-48c7-a830-7d5a3ebc4a16 https://www.webberwentzel.com//News/Pages/information-regulator-extends-commencement-date-for-popia-prior-authorisation.aspx The Information Regulator has extended the commencement date of the POPIA provision that requires organisations to obtain prior authorisation if they process certain categories of personal information. The commencement date of that provision is now 1 February 2022. 2021-06-17T22:00:00Z 05749863-9714-4210-8559-59b44787397f https://www.webberwentzel.com//News/Pages/revised-covid-19-direction-on-health-and-safety-in-the-workplace-published.aspx A revised Covid-19 Direction on Health and Safety in the Workplace sets out the regulations on vaccines and guidelines for employers considering mandatory vaccinations of employees 2021-06-10T22:00:00Z 5d9b4f64-5652-459c-bab0-850261dad1d1 https://www.webberwentzel.com//News/Pages/highest-court-decision-has-implications-for-all-loyalty-programme-providers.aspx The Constitutional Court recently handed down judgment on the Clicks Retailers (Pty) Ltd v CSARS case, which has wide ramifications for all loyalty programme providers. Loyalty programme future expenditure will as a result, be claimable only if the obligation for such expenses is imposed in the same income-producing contract. 2021-06-06T22:00:00Z 817e8931-bd8a-4e19-89dc-1bc09d9d5e7e https://www.webberwentzel.com//News/Pages/the-extended-producer-responsibility-regulations-laudable-goals-challenging-implementation.aspx The Extended Producer Responsibility Regulations recently introduced in South Africa are expected to drive the circular economy agenda, but continue to provide legal conundrums and interpretational challenges 2021-06-02T22:00:00Z b772aebd-bbd8-4750-84c6-d730b8bf2d5b https://www.webberwentzel.com//News/Pages/burger-king-making-a-meal-of-public-interest-in-m-and-a-transactions-dont-upsize-your-deal-quite-just-yet.aspx For the first time in 20 years, a merger may be prohibited on public interest grounds alone. A ground-breaking decision by the Competition Commission to prohibit the proposed sale by Grand Parade Investments Limited of its investment in Burger King (South Africa) to a US private equity firm will have severe consequences for the future of M&A transactions and investment into South Africa.​ 2021-06-02T22:00:00Z c9bb18a9-e16d-4e31-9399-697fa5143a30 https://www.webberwentzel.com//News/Pages/cybercrimes-bill-signed-by-the-president.aspx The Cybercrimes Bill has been signed by the President. This Bill will now be known as the Cybercrimes Act 19 of 2020. This development is a welcome move in the fight against the ever-increasing rise in online and internet-based crime. 2021-06-01T22:00:00Z 5376d136-f167-4ad8-ba7c-1489a3b940ab https://www.webberwentzel.com//News/Pages/the-new-afsa-international-arbitration-rules-simply-explained.aspx The Arbitration Foundation of Southern Africa’s new Rules, which came into effect on 1 June, are a welcome move that will help to grow South Africa's reputed position as an international arbitration seat. 2021-06-01T22:00:00Z 5a20ced1-aa6f-4216-993d-e4334a3671f1 https://www.webberwentzel.com//News/Pages/financial-services-regulation-monthly-update-may-2021.aspx Keep up to date on the most important Financial Services Regulation developments in South Africa during May 2021. 2021-05-31T22:00:00Z 0fad532d-4f80-413b-8e37-73f690fe5de7 https://www.webberwentzel.com//News/Pages/is-your-chatbot-popia-compliant.aspx Artificial Intelligence and digitisation are transforming the business landscape. Many new technologies are being created to streamline customer engagement, such as chatbots. Given the quantity of personal information which a chatbot may acquire, how do you ensure that your chatbot is POPIA compliant? 2021-05-30T22:00:00Z 8698ea0b-f364-4bae-af90-400314439a45 https://www.webberwentzel.com//News/Pages/south-africa-b-bbee-developments-clarity-provided-on-black-ownership-schemes-and-structures.aspx Minister Patel has issued a Practice Note in terms of the Broad-Based Black Economic Empowerment Act on Rules for discretionary Collective Enterprises to provide much needed clarity on how ownership schemes and structures should be interpreted under the B-BBEE Codes. 2021-05-18T22:00:00Z 7328dc1f-cd52-45ca-944e-a4516a346f4a https://www.webberwentzel.com//News/Pages/afcfta-insights-report.aspx We are delighted to release a downloadable compilation of expert insights focussed on the issues around the African Continental Free Trade Area (AfCFTA). We produced this report over many months in collaboration with Africa Legal. 2021-05-18T22:00:00Z 3f633b31-7d48-49df-bc31-6d1ce2c1ac6d https://www.webberwentzel.com//News/Pages/popia-and-consent-red-flags-for-insurance-companies.aspx The terms and conditions of insurance policies are currently going through a major overhaul after the unexpected events of the Covid-19 pandemic highlighted new areas of risk for insurers. 2021-05-13T22:00:00Z 44d26ccf-db84-4beb-bb4e-e06b8969990d https://www.webberwentzel.com//News/Pages/the-protection-of-personal-information-act-what-insurers-need-to-know.aspx Insurance companies have until 30 June 2021 to ensure that their business operations comply with the Protection of Personal Information Act, 2013, or they risk facing penalties by the Information Regulator. 2021-05-13T22:00:00Z 74112ef6-150c-4d63-8c6f-7b59bd476f77 https://www.webberwentzel.com//News/Pages/financial-regulatory-developments.aspx There have been two key developments in the financial regulatory space which stakeholders should be aware of. Firstly, to the Financial Sector Laws Amendment Bill and also to the Pension Funds Amendment Bill. Comments on both should be in by no later than 12:00 on Monday 17 May 2021. 2021-05-13T22:00:00Z 9af1d0b0-2a8a-4c0b-944a-d71ab5647d1e https://www.webberwentzel.com//News/Pages/popia-requires-a-new-look-at-insurance-agreements-with-a-real-focus-on-specific-consent.aspx Personal information provided for one purpose, such as obtaining insurance, is often shared within the insurance world for other data-gathering purposes. This typically requires specific consent, if those collecting the information are not to find themselves in breach of POPIA from 1 July 2021 2021-05-12T22:00:00Z 785d0dcc-2fd2-4c24-8e59-bac0e9fd8391 https://www.webberwentzel.com//News/Pages/draft-paia-regulations-published-ahead-of-popia-commencement.aspx Draft PAIA Regulations have been published, setting out the transition of functions from the South African Human Rights Commission to the Information Regulator, and some additional obligations of information officers. 2021-05-09T22:00:00Z dc190d8b-d7b5-4e58-a0eb-4fc2e5a22c5d https://www.webberwentzel.com//News/Pages/employee-dismissed-for-reporting-to-work-with-covid-19.aspx A recent judgment by the Labour Court implores employers to consider whether existing Covid-19 health and safety protocols are being taken seriously by employees. Such protocols are meaningless if they are merely "in place and on paper" 2021-05-06T22:00:00Z ccfb3c1d-0c6a-44a1-bbfa-27b4f60fb315 https://www.webberwentzel.com//News/Pages/the-legal-effect-of-a-liquidated-company-on-review-proceedings-at-the-labour-court.aspx In a recent judgment, the Labour Court found that it did not have jurisdiction to determine review proceedings for a liquidated company if the person who instituted the legal proceedings failed to deliver the necessary notice to the liquidators 2021-05-05T22:00:00Z b42eb8d7-cbed-4922-8dc7-f4c7761efa4e https://www.webberwentzel.com//News/Pages/strike-guidelines-set-aside-by-high-court.aspx The High Court recently set aside guidelines issued by the Minister of Employment and Labour on balloting for strike action on the grounds that they were ultra vires 2021-05-05T22:00:00Z c206d935-acc1-4f53-a366-e900ea1d54b2 https://www.webberwentzel.com//News/Pages/employer-liable-to-pay-a-portion-of-r3-9-million-awarded-for-sexual-assault-in-the-workplace.aspx A recent High Court judgment upholds the potential consequences for an employer that does not provide a safe working environment for employees, including one free of sexual assault or other forms of harassment 2021-05-04T22:00:00Z cc216e65-5004-422f-83d6-7d6f0a3eabc6 https://www.webberwentzel.com//News/Pages/the-complexities-of-group-governance.aspx The Insurance Act provides a useful framework for governance of increasingly complex and multi-product financial services groups 2021-04-29T22:00:00Z 5e4b219e-c9ec-473c-915e-a66aa0b858e9 https://www.webberwentzel.com//News/Pages/financial-services-regulation-monthly-update-april-2021.aspx Keep up to date on the most important Financial Services Regulation developments in South Africa during April 2021. 2021-04-29T22:00:00Z fcb4eb1c-9ff4-4f26-9795-6f8c0c1a75f6 https://www.webberwentzel.com//News/Pages/australias-fair-work-commission-rules-on-dismissal-of-employee-for-refusing-to-take-flu-vaccine.aspx A recent decision of Australia’s Fair Work Commission upheld an employer’s reasonable requirement for staff to be vaccinated against influenza, but we caution that this principle remains untested in the Covid-19 vaccination rollout in South Africa 2021-04-28T22:00:00Z 0b8e3199-528c-4388-8735-9ab3976d07b5 https://www.webberwentzel.com//News/Pages/doubling-down-on-plastic-bag-producers.aspx South Africa’s amended Plastic Bag Regulations and the new Extended Producer Responsibility Regulations raise concerns about double taxation in the plastic bag sector 2021-04-27T22:00:00Z 7c57144f-43e7-4013-91d4-d282040963c0 https://www.webberwentzel.com//News/Pages/jse-consultation-paper-proposes-amendments-to-the-listings-requirements.aspx The JSE has issued a consultation paper proposing changes to the Listings Regulations to cut red tape and achieve an effective, fit-for-purpose set of regulations for financial markets 2021-04-21T22:00:00Z dc7cb1b9-24ca-4020-a33d-e0f5d70db9ba https://www.webberwentzel.com//News/Pages/some-well-awaited-certainty-on-kenyan-withholding-taxes-for-inbound-services.aspx A recent decision by the Tax Appeals Tribunal of Kenya has provided much needed clarity on withholding tax payable by South African residents providing services to Kenyan entities 2021-04-15T22:00:00Z 4326b64a-174c-49e5-8ead-52c17dc89887 https://www.webberwentzel.com//News/Pages/ccma-reinstates-employee-dismissed-for-absence-without-permission.aspx The CCMA recently reinstated an employee who took leave without permission during the Covid-19 lockdown, in a ruling which delivers an important lesson for other employers 2021-04-11T22:00:00Z dea0b2d5-5fd6-475f-bcf5-e6aa455e1a4c https://www.webberwentzel.com//News/Pages/labour-appeal-court-upholds-dismissal-of-employees-for-carrying-weapons-during-strike-action.aspx The Labour Appeal Court has ruled that employees can be dismissed for carrying weapons during a strike and it is reasonable to expect them to know that this is a dismissable offence 2021-04-11T22:00:00Z 77f74ad9-d92e-4f11-a198-8fc5befcb04f https://www.webberwentzel.com//News/Pages/popia-101.aspx All businesses with employees, customers and suppliers must comply with POPIA, which comes into effect on 1 July 2021. Here’s a practical guide to the most important aspects 2021-03-31T22:00:00Z 72a9eafb-dcae-4982-8ba0-ace56a07b0f9 https://www.webberwentzel.com//News/Pages/financial-services-regulation-monthly-update-march-2021.aspx Keep up to date on the most important Financial Services Regulation developments in South Africa during March 2021 2021-03-29T22:00:00Z 9f25c73f-7024-4015-8035-90fc846222a6 https://www.webberwentzel.com//News/Pages/webber-wentzel-successfully-obtains-community-unrest-interdicts-for-different-clients-operating-in-the-mining-industry.aspx On two recent occasions involving mining operations in Limpopo and Mpumalanga, Webber Wentzel has assisted different clients operating in the mining industry to obtain interdicts against the SAPS to compel them to fulfil their duty to maintain law and order 2021-03-28T22:00:00Z d5fa8872-4933-475d-beb9-1aaf1beb4ba6 https://www.webberwentzel.com//News/Pages/proposals-of-interest-to-employers-in-the-2021-budget-review.aspx In the 2021 Budget, there are proposals to halt abuse of employment tax incentives and expand the scope of what constitutes a long-service award 2021-03-25T22:00:00Z c8fdbf1c-6125-433f-8029-026bcb49d2ec https://www.webberwentzel.com//News/Pages/annuitisation-of-provident-funds-finally-commences.aspx From 1 March 2021, members of provident funds on retirement will have to buy an annuity with two-thirds of their retirement funding, bringing them in line with pension and RA fund members 2021-03-25T22:00:00Z ac26840d-859c-4ef5-a559-c81cdafc954d https://www.webberwentzel.com//News/Pages/employee-attacked-at-work-during-protest-action-may-claim-damages-from-her-employer.aspx A recent Supreme Court of Appeal judgment has provided new guidance on COIDA cover and when employers may be exposed to direct claims for damages by employees. 2021-03-24T22:00:00Z b57ca11e-3f42-45f6-8478-c834c9eacd1e https://www.webberwentzel.com//News/Pages/sabs-issues-new-standard-for-hand-sanitisers.aspx The SABS has issued a new standard for hand sanitisers, which manufacturers of these products and employers distributing them in the workplace should comply with 2021-03-15T22:00:00Z 7e9c6542-ceef-4e47-9796-efff586e2320 https://www.webberwentzel.com//News/Pages/information-regulator-publishes-guidance-note-on-applications-for-prior-authorisation.aspx The Information Regulator has issued helpful guidelines for applicants who require prior authorisation to process certain categories of information under POPIA 2021-03-15T22:00:00Z 9adb8fc5-4d7e-4a39-960f-d96e647b59e1 https://www.webberwentzel.com//News/Pages/the-roadmap-for-ending-libor.aspx The UK Financial Conduct Authority is considering whether it will be necessary to publish some synthetic LIBOR benchmarks after the termination dates set out by ICE Benchmark Administration to assist legacy contract holders 2021-03-10T22:00:00Z c9c7494e-2867-4bdd-adf2-5bb19af940d2 https://www.webberwentzel.com//News/Pages/covid-19-ters-extension-key-information-for-employers.aspx A new directive sets out conditions for the extension of benefits under the Covid-19 TERS scheme, which applies only to four categories of employees. 2021-03-10T22:00:00Z ae2284c9-43c9-495c-8ca6-1091ca17c0cc https://www.webberwentzel.com//News/Pages/incentivising-strategic-development-moving-one-step-closer-or-two-steps-back.aspx Recent moves to incentivise renewable energy development in designated areas are welcome, but a new requirement has been introduced which may prove onerous and cause significant delays. 2021-03-07T22:00:00Z 6dfaca9d-f5ea-4f6f-ba22-ed1211b19e15 https://www.webberwentzel.com//News/Pages/treasury-further-tightens-the-noose-on-retirement-assets-of-emigrants.aspx The Budget Review 2021 includes a proposal to impose a deemed retirement withdrawal tax on retirement assets of emigrants as an exit tax. The proposal is unclear and has numerous issues. 2021-03-02T22:00:00Z c14dbe59-cb03-4fb4-9abd-0787920f08c0 https://www.webberwentzel.com//News/Pages/competition-law-africa-monthly-update-february-2021.aspx Keep up to date on the most important competition law developments across Africa in February 2021. 2021-03-01T22:00:00Z 9b198138-87d0-409e-bd81-cd5f6e19d68d https://www.webberwentzel.com//News/Pages/sa-lets-do-business-ebook.aspx ​A tailored and on-the-ground perspective for business in South Africa and those looking to invest in South Africa. 2021-02-28T22:00:00Z fb3e1b6a-0668-45db-b00f-81a8debf1cde https://www.webberwentzel.com//News/Pages/dealmaking-in-sub-saharan-africa-2020-in-review-and-predictions-for-2021.aspx Read a Q&A with Christo Els, senior partner and M&A specialist on Dealmaking in Sub-Saharan Africa - 2020 in review and predictions for 2021 2021-02-25T22:00:00Z d65b55cc-19d3-4804-bdfa-f82d9bdafd63 https://www.webberwentzel.com//News/Pages/mboweni-sticks-to-a-realistic-path-in-2021-22-budget.aspx South African Finance Minister Tito Mboweni delivered the 2021/22 Budget on 24 February that treads a pragmatic path between over-spending and too much austerity, as the economy grapples with the impact of Covid-19 and lockdowns. 2021-02-24T22:00:00Z 195e2d7f-5710-4e26-8115-1fbb72ae089f https://www.webberwentzel.com//News/Pages/draft-critical-skills-list-out-for-public-comment.aspx The critical skills list identifies occupations in various sectors for skilled immigration. Section 19(4) of the Immigration Act 13 of 2002 provides that the Department of Home Affairs can issue a critical skills work visa to a foreign employee possessing skills or qualifications considered to be critical for South Africa. 2021-02-23T22:00:00Z e2b01282-da77-4df3-a813-1a2d1f3fa5bb https://www.webberwentzel.com//News/Pages/webber-wentzels-expertise-recognised-by-chambers-global.aspx Chambers Global has released their 2021 results. Webber Wentzel had an exceptional year with key highlights. 2021-02-21T22:00:00Z 2928316a-b559-4713-bcd1-1da356fd0eaa https://www.webberwentzel.com//News/Pages/21-legal-developments-for-businesses-to-monitor-in-2021.aspx We have collated a snapshot of key themes to track in 2021 and of 21 legal developments for the year which you will need to keep a tab on. 2021-02-17T22:00:00Z 5d266408-0d20-4ff5-8c6b-b41f1bde47e2 https://www.webberwentzel.com//News/Pages/covid-19-ters-scheme-extended-to-15-march-2021.aspx The president has announced the TERS benefit will be extended to 15 March 2021 for certain sectors but there are unanswered questions over aspects of the extension. 2021-02-16T22:00:00Z bb6e31fb-330f-4b8d-a65f-056d8a188e5f https://www.webberwentzel.com//News/Pages/b-bbee-commission-requires-entities-to-make-increased-disclosures.aspx A new Explanatory Notice issued by the B-BBEE Commission in January requires more supporting evidence for B-BBEE claims. Although this may seem onerous, it will strengthen the Commission’s ability to make recommendations for improvement 2021-02-15T22:00:00Z 14d36c6c-840e-40ab-b331-efc8a55415f8 https://www.webberwentzel.com//News/Pages/budget-2021-finding-revenue-from-a-highly-taxed-base.aspx The South African government is likely to be tempted to increase marginal rates of tax on top earners in the February Budget, but non-tax measures would be more effective in raising funds for the fiscus 2021-02-10T22:00:00Z 5d8c01ab-c60e-43a7-aa8c-7ae79acb1c98 https://www.webberwentzel.com//News/Pages/recent-labour-appeal-court-and-constitutional-court-judgments-not-applicable-to-private-sector.aspx Important judgments were recently handed down by the Labour Appeal Court and Constitutional Court. Given the issues dealt with in these judgments (collective bargaining and interception of communication), questions were raised about their impact on the private sector. 2021-02-10T22:00:00Z cb8b1c2e-b2a8-483f-aadd-d9da5a966c9c https://www.webberwentzel.com//News/Pages/increases-to-national-minimum-wage-from-1-march-2021.aspx The Department of Employment and Labour (DEL) has announced increases to the national minimum wage that will come into effect from 1 March 2021. These increases follow the recommendations made by the National Minimum Wage Commission in late 2020. 2021-02-09T22:00:00Z 36fb583b-b0f3-408c-b086-e6bc56055a00 https://www.webberwentzel.com//News/Pages/corruption-watch-releases-new-report-on-covid-19-ters-scheme.aspx A report by Corruption Watch into the payment of TERS benefits has exposed maladministration and corruption in the UIF, highlighting that the department of employment and labour needs to improve its systems 2021-02-07T22:00:00Z 42408e0d-1253-4520-9764-170ce2129d29 https://www.webberwentzel.com//News/Pages/podcast-covid-19-vaccines-employer-considerations.aspx Over this 6-part series, We will be unpacking various issues from the possibility of mandatory vaccination policies for employees to personal information management of employee vaccination data.​ 2021-02-04T22:00:00Z 679805d6-b115-427d-8130-c4341a36e1d9 https://www.webberwentzel.com//News/Pages/changes-to-the-south-african-exchange-control-rules.aspx On 4 January 2021 the South African Reserve Bank released Exchange Control Circular No. 1/2021 which provides for the long-awaited relaxation of the South African exchange control rules relating to “loop” structures and investments. 2021-01-11T22:00:00Z 892e6120-cf14-46d7-af09-774c5fa662cc https://www.webberwentzel.com//News/Pages/integrating-esg-factors-in-the-investment-strategies-of-institutional-investors.aspx A draft revision of the Code for Responsible Investment in South Africa (CRISA) to align it with advances in regulation and governance of ESG issues, has been published for comment. 2020-12-17T22:00:00Z 277d4aeb-fcc1-4131-bf5b-c6fe4ac36a68 https://www.webberwentzel.com//News/Pages/resignation-with-immediate-effect-meaningless-when-disciplinary-hearing-occurs-in-the-notice-period.aspx In a recent judgment, the Labour Appeal Court had to once again deal with the interplay between resignation with immediate effect and disciplinary action. 2020-12-13T22:00:00Z 8b9e7aec-f2d7-40aa-b26c-952a39a3e933 https://www.webberwentzel.com//News/Pages/4-5-percent-increase-to-national-minimum-wage-on-the-cards.aspx The National Minimum Wage Commission has recently published a report with recommendations on the annual review of the national minimum wage for 2021. This is in line with the Commission's overall mandate under section 6 of the National Minimum Wage Act 9 of 2018. 2020-12-10T22:00:00Z 481e8fb1-8121-4858-b156-1e51765b9e04 https://www.webberwentzel.com//News/Pages/covid-19-ters-external-audit-and-forensic-process-underway.aspx On 27 November 2020, the Unemployment Insurance Fund (UIF) announced that it will be implementing its C-19 External Audit and Forensic Process effective 1 December 2020. 2020-12-10T22:00:00Z 89bffa57-8e01-407e-be3c-e07574e49524 https://www.webberwentzel.com//News/Pages/ibor-reform-has-significant-implications-for-sa-financial-industry.aspx Since 2017, Interbank Offered Rate (IBOR) reform has been on the cards in many markets around the world. The use of the London Interbank Offered Rate (LIBOR) as a benchmark, is set to be discontinued. 2020-12-08T22:00:00Z d76b3ca7-e225-4a97-9c87-0be23877484a https://www.webberwentzel.com//News/Pages/linklaters-global-guide-year-in-review-2020-and-year-to-come-2021.aspx We have contributed to the Linklaters' global guide series - Year in Review 2020 and Year to Come 2021. 2020-12-06T22:00:00Z 9032d8e4-df71-46d1-9e37-4d4a152516fc https://www.webberwentzel.com//News/Pages/ibor-reform-in-the-context-of-south-african-financial-institutions.aspx On 27 November 2020, we hosted a webinar titled IBOR reform in the context of South African financial institutions. 2020-11-30T22:00:00Z dbac8b26-e821-430c-ad95-78974fb4fc8b https://www.webberwentzel.com//News/Pages/popia-gdpr-or-both.aspx Businesses need to ensure compliance with the General Data Protection Regulation passed by the European Union and with South Africa’s Protection of Personal Information Act by July 2021. Compliance with one, does not, however, ensure compliance with the other. 2020-11-29T22:00:00Z 4cd70063-d3d6-4f10-b632-7581c65ece14 https://www.webberwentzel.com//News/Pages/working-from-home-when-does-supervision-infringe-on-personal-rights.aspx Since Covid-19 lockdowns and self-isolation, remote working with associated overtime claims has become the norm, which presents employers with challenges around monitoring and privacy 2020-11-26T22:00:00Z 943b20ec-1567-4581-a38e-f02711c7ec35 https://www.webberwentzel.com//News/Pages/b-bbee-challenged-in-public-tenders.aspx The Supreme Court of Appeal has ruled that the 2017 Preferential Procurement Regulations do not provide the required framework for the application of considerations such as broad-based black economic empowerment contributor status and black ownership to be used for pre-qualification of bidders or as a condition for mandatory sub-contracting in public tenders. 2020-11-22T22:00:00Z 14638cde-b051-4f1a-86a3-8d44302f8d82 https://www.webberwentzel.com//News/Pages/2020-future-of-jobs-report-world-economic-forum.aspx A recent World Economic Forum report has highlighted evolving trends in the workforce, globally and in South Africa, as the local labour market faces the combined impact of the Covid-19 pandemic and the Fourth Industrial Revolution (4IR) 2020-11-18T22:00:00Z 655da02d-c0ab-40b0-b172-99c9714bff97 https://www.webberwentzel.com//News/Pages/the-cipc-revokes-temporary-covid-19-relaxation-measures.aspx The Companies and Intellectual Property Commission (CIPC) has announced that the temporary relaxation measures granted to companies during the national lockdown will lapse on 1 December 2020. 2020-11-16T22:00:00Z 50c77903-e83e-4997-853d-e8b60469a0ef https://www.webberwentzel.com//News/Pages/insider-trading-recent-fines-imposed-by-the-fsca.aspx Recent significant fines imposed by the FSCA on Jooste and others for trading on inside information have highlighted the extensive powers contained in the Financial Markets Act and the dangers of insider trading 2020-11-08T22:00:00Z 2a524c6b-2e57-49c9-b90a-c0ca7ca11ffa https://www.webberwentzel.com//News/Pages/advertising-regulatory-board-requires-adverts-and-commercials-to-toe-the-line-with-covid-19-regulations.aspx In a recent decision by the Advertising Regulatory Board against FlySafair, the board found that compliance with Covid-19 regulations extends to "make-believe" marketing initiatives such as advertisements or commercials 2020-11-04T22:00:00Z 98ced402-cb71-47d0-bb24-9acbf425f9f4 https://www.webberwentzel.com//News/Pages/the-impact-of-covid-19-on-south-africas-insurance-sector.aspx The Covid-19 global pandemic has caused disruptions to economies around the world and it is no surprise that the South African economy has not been spared. 2020-11-01T22:00:00Z 2f6aee38-7a02-409d-b510-4817ef96dece https://www.webberwentzel.com//News/Pages/mec-for-social-development-not-liable-for-damages-caused-to-child-injured-on-outdoor-playground-at-preschool.aspx The Supreme Court of Appeal has handed down a judgment confirming that the Member of the Executive Council for Social Development is not liable for damages of a child injured by an outdoor play equipment at a preschool. 2020-10-28T22:00:00Z a68bf091-11a7-406e-af3e-35741957763a https://www.webberwentzel.com//News/Pages/playing-safely-with-personal-information-inside-a-regulatory-sandbox.aspx Artificial Intelligence (AI) is driving innovation; with data a critical component to enabling AI. Data often includes personal information which may raise issues from a data protection laws perspective. Sandboxes may, however, create safe spaces for technology innovators. 2020-10-26T22:00:00Z 1cd34f52-d7bf-4a60-ad4d-e8eb4512cd79 https://www.webberwentzel.com//News/Pages/the-insurance-odyssey-2020-brochure.aspx This publication called 2020: An Insurance Odyssey, is a whirlwind tour of 20 judgments handed down by our Courts over the last 20 years or so, in which certain basic and some rather complicated principles of Insurance Law have been set out and developed. 2020-10-26T22:00:00Z 27f71d39-083a-4e1c-a57c-e31e0de9b8f0 https://www.webberwentzel.com//News/Pages/smart-contracts-adoption-could-be-tripped-up-by-legal-validity-and-privacy-laws-concerns.aspx Covid-19 forced businesses to accelerate the rate at which they adopt and adapt to, technological change. Many businesses are looking to conclude agreements by taking advantage of technology platforms that promise efficiency and cost-savings; including using smart contracts. 2020-10-25T22:00:00Z 5e5010bf-304e-42f0-8761-ca703e818bdd https://www.webberwentzel.com//News/Pages/cyber-attacks-call-for-rapid-response-and-strategic-leadership.aspx As the experts say, it is not a question of “if” but “when” a cyber-attack will occur in your organisation. Organisations should be preparing their strategy now in the event of a cyber-attack, given the rise in such events 2020-10-22T22:00:00Z 91a4ad10-abfe-4254-b388-a94d2ef169c4 https://www.webberwentzel.com//News/Pages/level-1-lockdown-regulations-key-considerations-for-employers.aspx Government has published new regulations on the alert level 1 lockdown which took effect at 00h01 on Monday, 21 September 2020. 2020-10-11T22:00:00Z 365008c7-9adf-4ff4-816b-65bb7dc27bb8 https://www.webberwentzel.com//News/Pages/resigning-after-disciplinary-action-but-before-sanction-what-is-the-legal-effect.aspx The Labour Court in a recent judgment considered whether an employee who has been found guilty of serious misconduct can avoid the ultimate sanction of dismissal by resigning before the employer imposes the sanction. 2020-10-06T22:00:00Z dfddc17f-a159-42a0-953d-63e3384ae1dd https://www.webberwentzel.com//News/Pages/intolerability-is-a-high-standard-new-labour-court-decision-on-constructive-dismissal.aspx In a recent judgment, the Labour Court confirmed that intolerability is a high threshold in constructive dismissal matters. Intolerability is more than a working environment or working under employment conditions that are difficult, unpleasant or stressful. 2020-09-30T22:00:00Z c1f7e40f-cbd4-4fb3-aca5-cb5419ee1ef8 https://www.webberwentzel.com//News/Pages/the-early-bird-catches-the-worm.aspx Early dismissal procedures can be used in international arbitration to dispose of defective claims and defences, without incurring the costs of a full hearing. 2020-09-28T22:00:00Z a1201748-f85e-4398-bd19-754c9fcecdac https://www.webberwentzel.com//News/Pages/sars-stand-in-line-how-tax-debts-rank-in-business-rescue.aspx A company in financial distress may have a variety of outstanding tax debts at the commencement of business rescue. 2020-09-22T22:00:00Z 2dc7fada-a876-4ec1-afa3-b7d472eef90f https://www.webberwentzel.com//News/Pages/recent-uk-supreme-court-decision-may-impact-global-frand-licensing.aspx A recent decision by the UK Supreme Court on FRAND licences may initially appear to favour owners of standards essential patents and stimulate global FRAND licensing, but could in the longer term have the opposite effect 2020-09-20T22:00:00Z 7bea5239-2833-4a67-8e37-9f5b9cb02a20 https://www.webberwentzel.com//News/Pages/relaxation-of-loop-structures-but-at-what-tax-cost.aspx The envisaged future relaxation of the prohibition on “loop structures” will be accompanied by amended tax laws, but current proposals are likely to result in more tax on certain structures 2020-09-20T22:00:00Z a762e2af-1bff-48b6-a0b8-9d6fe779b600 https://www.webberwentzel.com//News/Pages/jse-guidance-on-effective-communication-with-investors.aspx The JSE has identified focus areas for listed companies to consider when raising capital to weather the Covid-19 crisis, including the amount of information they need to disclose 2020-09-16T22:00:00Z 1b86d71a-317f-4749-8874-57f1ecf641db https://www.webberwentzel.com//News/Pages/How-to-navigate-a-transfer-pricing-audit-to-a-mutually-unacceptable-outcome.aspx Transfer pricing audits can be onerous, but taxpayers can achieve a more successful outcome by providing all information requested, anticipating areas of concern, and engaging openly with SARS 2020-09-16T22:00:00Z c53215b9-2a49-4aa9-83de-7162e3f9f5d2 https://www.webberwentzel.com//News/Pages/draft-code-of-practice-on-violence-and-harassment-in-the-workplace-published.aspx The Minister of Employment & Labour has published for comment a Draft Code of Practice on the Prevention and Elimination of Violence and Harassment in the World of Work. 2020-09-14T22:00:00Z 149797f1-03dc-4059-8dc5-393f03848357 https://www.webberwentzel.com//News/Pages/want-to-withdraw-retirement-funds-on-emigration-national-treasury-and-sars-say-try-again-in-3-years-time.aspx The National Treasury published the Draft Taxation Laws Amendment Bill, 2020 (Draft Tax Bill) for public comment. 2020-09-03T22:00:00Z 96b8add7-0db3-441c-9da7-69d37b3bc890 https://www.webberwentzel.com//News/Pages/tackling-buyer-power-in-south-africa.aspx The Competition Commission has offered some guidance on how the new buyer provisions of the Competition Act will affect businesses - providing insights on how complaints will be screened, how long assessments are likely to take and the thresholds that will apply. 2020-09-03T22:00:00Z 8e31bc0c-17b8-4c72-8232-b531fa8a8766 https://www.webberwentzel.com//News/Pages/eap-registration-deadline-extended-to-8-february-2022.aspx The Minister of Environment, Forestry and Fisheries has announced that Environmental Assessment Practitioners will have until 8 February 2022 to register with the Environmental Assessment Practitioners Association of South Africa. 2020-08-27T22:00:00Z 8130d51d-bd67-4496-ad94-e22296ce1b70 https://www.webberwentzel.com//News/Pages/life-in-a-remote-world-tax-enforcement-in-transfer-pricing.aspx The unusual business conditions of the Covid-19 outbreak will require a more flexible approach from tax authorities when analysing transfer pricing in the 2020 year of assessment 2020-08-24T22:00:00Z 874bfb80-572e-41ae-aeca-f26e167b2956 https://www.webberwentzel.com//News/Pages/lockdown-level-2-regulations-explained.aspx Since government announced a move to level 2 lockdown – employers will be grappling with a new norm. This infographic provides a useful overview of the key aspects of level 2. 2020-08-19T22:00:00Z 53bcce2a-e567-44dc-8a88-c1eb58f1cbd0 https://www.webberwentzel.com//News/Pages/focus-on-quality-education-and-skills-development-to-create-an-inclusive-sa-economy.aspx The B-BBEE Commission’s latest report on trends shows an overall decline in black economic empowerment across almost all measured elements. 2020-08-18T22:00:00Z 6d0a5d21-e0f5-4cc9-88d0-8e54756601b1 https://www.webberwentzel.com//News/Pages/popia-what-employers-need-to-know.aspx The Protection of Personal Information Act 4 of 2013 (POPIA) which came into force on 1 July 2020 places several obligations on employers in terms of managing employees personal information; it also gives certain rights to privacy to employees. 2020-08-17T22:00:00Z 4141f7df-0775-4087-99e8-c38724540fe9 https://www.webberwentzel.com//News/Pages/ters-new-direction-published.aspx A new direction which regulates the extension of C-19 TERS benefits for the extended application period (1 July - 15 August 2020) was published on 13 August 2020. 2020-08-16T22:00:00Z 9c3aa095-018e-4ee3-a8ab-fc92151672d7 https://www.webberwentzel.com//News/Pages/depressed-employees-dismissal-is-not-automatically-unfair.aspx Depression is an important issue, with about 264 million people suffering from depression according to The World Health Organisation. 2020-08-16T22:00:00Z b6949654-df53-4a01-8ccb-32b38ff79484 https://www.webberwentzel.com//News/Pages/artificial-intelligence-has-popia-implications.aspx Organisations using personal data in artificial intelligence applications need to manage it carefully to ensure they remain compliant with POPIA 2020-08-12T22:00:00Z 5604213b-aee4-4ff2-b99b-7b20d0cf9343 https://www.webberwentzel.com//News/Pages/psychological-testing-and-other-similar-assessments-of-employees-an-update.aspx Three years after a relevant High Court ruling, a draft amendment to the Employment Equity Act proposes removing the requirement for HPCSA certification of psychological and other similar employee tests 2020-08-11T22:00:00Z 7027f2a8-7c1f-4dca-92c3-c3d92719e09f https://www.webberwentzel.com//News/Pages/covid-19-new-directions-on-isolation-and-quarantine-periods.aspx Recent amendments to Department of Health directions reduce the isolation period for Covid-19, provide new definitions and set out the criteria government will use to determine different alert levels 2020-08-11T22:00:00Z b2579ca2-011d-4d02-a450-892b82a46fe4 https://www.webberwentzel.com//News/Pages/digital-transformation-in-the-financial-services-sector.aspx Data protection and cybercrime are becoming more pressing issues for financial services companies to address from a legal perspective, as Covid-19 accelerates digital transformation 2020-08-04T22:00:00Z af43ee05-aca5-414a-b124-cd96bc66ae03 https://www.webberwentzel.com//News/Pages/catching-covid-19-at-work.aspx The Department of Employment and Labour has issued revised guidelines on how to submit claims to the Compensation Fund for Covid-19 contracted in the workplace. 2020-08-03T22:00:00Z f571edd7-5eda-434b-98cc-be465dd4e51e https://www.webberwentzel.com//News/Pages/b-bbee-commission-releases-2019-national-status-and-trends-report.aspx The B-BBEE Commission’s latest report on empowerment trends in 2019 shows an increase in black ownership, but this is not necessarily reflected in management control scores 2020-08-02T22:00:00Z 4976c463-8b25-4811-a19e-1ff4ba0af961 https://www.webberwentzel.com//News/Pages/TERS-8-Key-Updates-For-Employers.aspx The South African Institute of Chartered Accountants (SAICA) hosted a webinar on 30 July 2020 with UIF representatives to discuss the status of TERS. The following is a summary of key points discussed at the webinar. The information below is not yet confirmed by gazetted notices or media statements on the DEL website. If necessary, we will update the information below when these notices or statements are available. 2020-07-30T22:00:00Z 6ec2935f-117c-4ab5-98cb-85b15b1ea7b1 https://www.webberwentzel.com//News/Pages/employment-equity-amendment-bill-to-be-introduced-in-the-national-assembly.aspx On 20 July 2020, the Department of Employment and Labour gazetted the Employment Equity Amendment Bill (EEAB). The EEAB will shortly be formally introduced in the National Assembly. 2020-07-28T22:00:00Z 180d22b2-528b-4e60-a1a9-e5c799e6bf9b https://www.webberwentzel.com//News/Pages/auto-assessments-and-the-shorter-tax-filing-season.aspx This year, taxpayers should be aware that SARS will be assessing a number of non-provisional taxpayers automatically and has also shortened the 2020 tax filing season 2020-07-23T22:00:00Z 71d6d3b9-10e1-4018-8985-7a4e1b39abcd https://www.webberwentzel.com//News/Pages/popia-information-regulator-invites-comment-on-the-draft-guidelines-relating-to-the-registration-of-information-officers.aspx Now that the Protection of Personal Information Act, 2013 (POPIA) has commenced, the Information Regulator may be issuing various notices and other guideline documents to give meaning to POPIA. 2020-07-20T22:00:00Z fe7aef72-8daf-4356-8297-eec1c6785d3b https://www.webberwentzel.com//News/Pages/deductions-available-for-commission-earners.aspx Commission earners could make an argument to SARS that they should be allowed to deduct their normal range of business expenses, even if commission is no longer more than 50% of their total remuneration under the exceptional circumstances of the Covid-19 pandemic. 2020-07-19T22:00:00Z 2986bf12-ddfb-4ec4-8532-8a4925f6cd2d https://www.webberwentzel.com//News/Pages/new-level-3-lockdown-regulations.aspx We highlight in this infographic some key considerations for employers related to these new regulations. 2020-07-19T22:00:00Z ab7d8d0b-579b-47d1-bf9c-18337118307a https://www.webberwentzel.com//News/Pages/popia-unpacked-what-you-need-to-know.aspx After years of start and stops - virtually all the operational provisions of the Protection of Personal Information Act 4 of 2013 (POPIA) finally came into force on 1 July 2020. 2020-07-16T22:00:00Z 2d0644f7-74cf-4b39-aa39-d76b54b438fb https://www.webberwentzel.com//News/Pages/data-breaches-and-popi-nowhere-to-hide.aspx The POPI clock is now ticking and everyone should be aware of what is required by these new laws. 2020-07-15T22:00:00Z 8a97f7b8-0880-4380-bdd4-e52db14eef33 https://www.webberwentzel.com//News/Pages/working-together-to-keep-workplaces-open-and-safe-through-covid-19.aspx To assist business, five reputable institutions have come together to identify key challenges and risk areas and providing legally compliant, practically implementable solutions based on best in class clinical and engineering input. 2020-07-15T22:00:00Z c013dca1-ea98-4e0a-a742-7ff838c970e4 https://www.webberwentzel.com//News/Pages/new-labour-appeal-court-decision-on-pregnancy-discrimination.aspx In a recent decision, the Labour Appeal Court (LAC) found that a mining house unfairly discriminated against an employee on the grounds of pregnancy. 2020-07-14T22:00:00Z c7fec728-245c-4b31-951f-ed1ec92399e9 https://www.webberwentzel.com//News/Pages/temporary-respite-for-companies-trading-in-insolvent-circumstances.aspx Many companies may be trading in insolvent circumstances, potentially in contravention of the Companies Act 71 of 2008. 2020-07-14T22:00:00Z a539374b-a4cb-4f0e-900a-e102d46ebc6a https://www.webberwentzel.com//News/Pages/who-can-hold-directors-accountable-for-breach-of-their-duties.aspx This insight looks at two recent South African court cases that considered the rights of shareholders to hold directors accountable for breaching their fiduciary duties. 2020-07-08T22:00:00Z ce0a7337-7d72-4fa8-99f3-51fea2af7d57 https://www.webberwentzel.com//News/Pages/proposed-amendments-to-fica-schedules.aspx Proposed amendments to Schedules 1, 2 and 3 of the Financial Intelligence Centre Act (FICA) have recently been published to align FICA with the current International Standards of the Financial Action Task Force as well as recent legislative amendments. Comments on the proposed amendments should be submitted by 18 August 2020. 2020-07-06T22:00:00Z 44e28334-d6d7-4e3a-93e6-a097a2c426f2 https://www.webberwentzel.com//News/Pages/june-applications-for-c-19-ters-are-now-open.aspx The UIF has opened June applications for TERS. Visit www.uifecc.labour.gov.za/covid19 to apply. 2020-06-23T22:00:00Z 241e6d7c-1bfe-4f3a-b03f-015c88928682 https://www.webberwentzel.com//News/Pages/examining-the-impact-of-selling-restrictions-in-b-bbee-transaction-documents.aspx Restrictions on the sale of a Broad-Based Black Economic Empowerment (B-BBEE) shareholder's interest in a company is often a contentious point of negotiation in a B-BBEE transaction. 2020-06-23T22:00:00Z 6a80ced8-cef8-48da-adca-20e45747a16b https://www.webberwentzel.com//News/Pages/Facts-of-a-disciplinary-enquiry-may-be-taken-into-account-when-debarring-a-representative-under-FAIS-Act.aspx A Supreme Court of Appeal decision considers the interplay between disciplinary inquiries convened under the Labour Relations Act and debarments of representatives under the Financial Advisory and Intermediary Services Act. The SCA also considered how to deal with institutional bias of debarment decision makers. Prior to this judgment, it was not clear whether a disciplinary hearing convened in terms of the LRA is sufficient to satisfy the procedural fairness requirements in relation to PAJA and the FAIS Act. 2020-06-23T22:00:00Z 0d85a556-4973-40f9-97fd-2e46cd2798b5 https://www.webberwentzel.com//News/Pages/Recent-High-Court-decision-wrong-no-work-no-pay-principle-during-lockdown-upheld-by-Labour-Court.aspx In a recent judgment, the South Gauteng High Court placed two Johannesburg restaurants into business rescue after they failed to pay employee salaries during lockdown. The court did not accept the restaurants' defence that it could not pay salaries due to the impact of the nationwide lockdown. In summary, this High Court judgment is not correct, employers who applied the no work no pay principle during lockdown and who claimed TERS benefits for their employees should not be distressed about their course of action, which was correct. 2020-06-22T22:00:00Z 08192b5c-1606-4dd9-a451-f184012437f0 https://www.webberwentzel.com//News/Pages/Tick-tock-The-POPI-countdown-will-commence-on-1-July-2020.aspx Virtually all of the remaining provisions of the Protection of Personal Information Act 4 of 2013 (POPIA) are finally set to commence according to an announcement by President Ramaphosa this morning, 22 June 2020. The announcement comes after an almost 6 year wait since April 2014, when certain provisions of POPIA commenced, such as those provisions that established the office of the Information Regulator, and set out the office's powers, functions and duties, as well as those provisions which enable the Minister to make various regulations under POPIA. 2020-06-21T22:00:00Z 810b0265-8ad5-4527-8190-8efb5b2f0aef https://www.webberwentzel.com//News/Pages/Joint-Standard-on-margin-requirements-for-non-centrally-cleared-over-the-counter-derivative-transactions-published.aspx On 2 June, the Financial Sector Conduct Authority and the Prudential Authority published Joint Standard 2 of 2020, dealing with margin requirements for non-centrally cleared OTC derivative transactions. The objectives of the standard include achieving consistent pricing across the OTC derivatives market and international compliance. This update highlights key features likely to be of interest to banks and asset managers. 2020-06-17T22:00:00Z 414f0f9e-19e4-48f9-8b93-ed3718781f8e https://www.webberwentzel.com//News/Pages/business-rescue-and-liquidation-have-consequences-for-intellectual-property.aspx Intellectual property is often overlooked when a business is compelled to seek business rescue or liquidation but it may form a valuable asset, requiring decisions to be made on whether to sell it or maintain it. 2020-06-08T22:00:00Z abd23b23-0738-4c4c-9585-eaa1be7994c3 https://www.webberwentzel.com//News/Pages/covid-19-temporary-exemption-from-holding-physical-general-meetings-to-help-companies-raise-capital.aspx During the Covid-19 crisis, issuers are facing challenges in holding the general meetings which are required in a number of instances under the Listings Requirements of the JSE Limited. 2020-06-07T22:00:00Z b311549e-3f4c-4c39-90db-4aa019fc0b19 https://www.webberwentzel.com//News/Pages/business-rescue-offers-a-framework-not-a-solution.aspx South African businesses under pressure from the Covid-19 effects may be tempted to apply for business rescue, but the process has a better chance of success if the board takes early steps to find solutions 2020-06-01T22:00:00Z 3a81aeb6-df47-4665-85df-924228d4e864 https://www.webberwentzel.com//News/Pages/implications-of-the-new-policy-objectives-of-the-competition-act.aspx A number of fundamental changes to the Competition Act demonstrate government's strengthened policy commitment to drive radical economic transformation in South Africa, and are likely to be more regularly used in the midst of Covid-19. 2020-06-01T22:00:00Z 9acd8ac0-2bf7-4e17-94e9-7ed0845226a7 https://www.webberwentzel.com//News/Pages/10-Key-Considerations-For-Employers---Moving-into-Level-3-Lockdown-on-1-June-2020.aspx As South Africa faces lockdown level 3 lockdown, government has published amendments to the lockdown regulations. We set out in this infographic, 10 key considerations employers need to be aware of. 2020-05-31T22:00:00Z 31f11b45-9b1f-478c-a9d1-5c6855021f82 https://www.webberwentzel.com//News/Pages/covid-19-companies-in-financial-distress-practical-m-a-considerations-in-restructuring.aspx The Covid-19 Lockdown has battered the already ailing South African economy. Despite the pending lift of the Lockdown, companies will likely battle to stay afloat as the full impact of the pandemic plays out. 2020-05-25T22:00:00Z 5035826f-d833-48ce-9a7a-ecce3a567358 https://www.webberwentzel.com//News/Pages/final-standards-on-delegation-of-administration-functions-by-cis-managers.aspx The Financial Services Conduct Authority has published the final conduct standards for managers of Collective Investment Schemes to follow when delegating administrative functions, to ensure all potential risks are managed. 2020-05-25T22:00:00Z 53db8c82-4a49-4886-b942-65ebab4882b4 https://www.webberwentzel.com//News/Pages/covid-19-emergency-measures-and-investor-state-arbitration-claims.aspx The unprecedented nature of the Covid-19 pandemic has re-kindled debates around the appropriateness of investor-state dispute settlement (ISDS) provisions in bi- and multi-lateral investment treaties. This article unpacks the key issues around the debate. 2020-05-25T22:00:00Z 0f57fb93-1ecb-4cd6-94b2-a0be81b2efd3 https://www.webberwentzel.com//News/Pages/covid-19-tax-relief-measures-and-a-time-concessions.aspx The following is a summary of the Revised Draft Disaster Management Tax Relief Bill and Revised Draft Disaster Management Tax Relief Administration Bill, Draft Explanatory Memorandum, National Treasury Media Statement and Draft rule amendments of the Customs and Excise Act 1964. 2020-05-21T22:00:00Z 0f1bbae8-bb47-4d78-9b55-cef9e4c2d1a5 https://www.webberwentzel.com//News/Pages/covid-19-cipc-recognises-rusiness-rescue-filings-made-during-initial-lockdown-period.aspx Under the Companies Act, 2008, a business rescue initiated by the board of a company only formally starts once the necessary resolution is filed with the Companies and Intellectual Property Commission. 2020-05-10T22:00:00Z 7a12cea9-515e-4f80-bb53-85d20d951a5a https://www.webberwentzel.com//News/Pages/big-data-and-the-south-african-financial-services-sector.aspx Changes in the way customers expect to engage with the financial services sector and increasing pressure from regulators is compelling financial services companies to come up with innovative ways to manage their data. 2020-05-10T22:00:00Z 8b62c032-8375-4a81-8d6f-ad5409192e43 https://www.webberwentzel.com//News/Pages/learning-from-edcons-misfortunes.aspx Edcon, one of southern Africa’s largest non-food retailers, which has operated for 90 years, has been placed in business rescue. This has significant consequences for retail in South Africa as well as for many stakeholders, including thousands of employees, creditors and shareholders. 2020-05-06T22:00:00Z 4c3f5537-1412-4bc3-a467-bb1bc6b35575 https://www.webberwentzel.com//News/Pages/covid-19-how-to-manage-place-of-effective-management-tax-risk-during-lockdown.aspx Covid-19 is only anticipated to peak in South Africa (SA) in September 2020, with international air travel only being permitted once the current lockdown restrictions are reduced to Level 1. 2020-05-05T22:00:00Z b565d968-8516-4164-9196-1ab667e64364 https://www.webberwentzel.com//News/Pages/covid-19-and-downgrades-directors-duties-unpacked.aspx During grappling with a nationwide lockdown to curb the spread of Covid-19 South Africa's credit rating was also downgraded to below investment grade by Moody's Investors Service. 2020-05-04T22:00:00Z de3220d2-4aa6-4334-9654-b2472989040b https://www.webberwentzel.com//News/Pages/covid-19-ters-5-important-updates.aspx Since the launch of TERS, there has been (almost) daily changes introduced by the Unemployment Insurance Fund. 2020-04-29T22:00:00Z 2cfb5fba-a27e-4048-b595-514e6494f6a9 https://www.webberwentzel.com//News/Pages/planning-for-a-safe-return-to-work-all-risks-considered.aspx Government has announced the implementation of a risk-adjusted strategy in easing the nationwide lockdown. This strategy entails the use of a system of alert levels applicable nationally and provincially. 2020-04-23T22:00:00Z 41e7a750-0fe3-4598-9068-7f0111b965b5 https://www.webberwentzel.com//News/Pages/covid-19-arbitration-may-avert-the-massive-court-backlogs.aspx South African courts already face massive issues related to backlogged matters. Court closures and hearing of limited matters to flatten the Covid-19 curve will raise further delays in resolving disputes. 2020-04-22T22:00:00Z e85427d5-5a46-4c86-bacb-a478ce1d3d95 https://www.webberwentzel.com//News/Pages/covid-19-providing-essential-financial-services-heres-a-summary-of-everything-you-need-to-know.aspx The regulations published to give effect the national lockdown directed the Prudential Authority and Financial Sector Conduct Authority to issue directives and guidance to all financial institutions under its jurisdiction in respect of precautionary measures to be taken when performing essential financial services. 2020-04-21T22:00:00Z 0f425a41-d5a0-40b5-99af-147d046285b7 https://www.webberwentzel.com//News/Pages/covid-19-directive-to-financial-institutions-on-precautionary-measures-when-performing-essential-financial-services.aspx The Financial Sector Conduct Authority and Prudential Authority issued a directive on 9 April 2020, under the Disaster Management Act, setting out appropriate precautionary measures that financial institutions performing essential financial services should follow during the Covid-19 lockdown. 2020-04-20T22:00:00Z 8c64fd05-3a90-4c05-aedb-39ab54e159d4 https://www.webberwentzel.com//News/Pages/covid-19-employment-relief-and-reputational-risk-for-banks-and-insurers.aspx During the period of national lockdown caused by the outbreak of Covid-19, companies will have to shut down and employees potentially laid off temporarily. 2020-04-20T22:00:00Z 324e29b0-7b5e-44cf-b82b-6bf3ac83fb19 https://www.webberwentzel.com//News/Pages/covid-19-relief-for-jse-listed-companies-in-relation-to-certain-financial-reporting-obligations.aspx The ability of listed companies to meet their financial reporting obligations has, in many instances, been severely impacted by the Covid-19 crisis. 2020-04-15T22:00:00Z 06e9cc56-97a3-49f0-9327-4811b009f693 https://www.webberwentzel.com//News/Pages/maintaining-good-corporate-governance-during-extraordinary-times.aspx The Covid-19 pandemic and emergency measures taken by the South African Government have caused unprecedented business disruption. 2020-04-08T22:00:00Z e2b8207f-3a7e-4c91-95ef-fb831e4361ad https://www.webberwentzel.com//News/Pages/webber-wentzel-uses-technology-to-resolve-disputes-throughout-covid-19-lockdown.aspx Webber Wentzel is encouraging its clients to use its technology tools and capability to progress and resolve disputes during the Covid-19 lockdown, rather than postpone matters indefinitely. 2020-04-07T22:00:00Z a7253033-ea6b-42e9-85a3-fb2efea3b80b https://www.webberwentzel.com//News/Pages/covid-19-lockdown-laws-the-unanswered-questions.aspx What happens if specific time limits are imposed for action to be taken in terms of acts, by-laws, regulations, policies and other instruments and adherence to these time limits is impacted by the lockdown? 2020-04-01T22:00:00Z a35ef788-6cc3-473e-8fff-88eae48ca73b https://www.webberwentzel.com//News/Pages/covid-19-impact-on-banks-non-insurance-financial-has-institutions-and-expectations-on-regulated-are-entities.aspx In response to the Covid-19 emergency, the South African Reserve Bank and the South African financial sector regulators, the Prudential Authority and the Financial Sector Conduct Authority, have implemented several mitigation measures to support the economy and companies. 2020-03-31T22:00:00Z 2dd1e50e-362e-40b2-9f56-b9f46007fd5b https://www.webberwentzel.com//News/Pages/Covid-19-tax-relief-proposed-by-the-president.aspx The address by President Cyril Ramaphosa on Monday, 23 March 2020, set out certain fiscal relief measures to help small and medium enterprises and vulnerable firms mitigate cash flow constraints as a consequence of the COVID-19 outbreak. 2020-03-25T22:00:00Z 95f296b3-ed9e-4e63-91c0-33a9c45b1f12 https://www.webberwentzel.com//News/Pages/covid-19-electronic-signatures-in-lockdown-times.aspx In business, handwritten signatures are required on nearly every document. However, in the wake of the Covid-19 outbreak it has become almost impossible to obtain multiple original handwritten signatures on the same document. 2020-03-25T22:00:00Z 801e8551-23a8-40f6-8d53-ef6239713d7d https://www.webberwentzel.com//News/Pages/covid-19-closed-trade-marks-designs-patents-and-copyright-offices-raise-further-risk-for-the-economy.aspx One only has to look back in history to appreciate the extent to which necessity is indeed the mother of invention. 2020-03-25T22:00:00Z 5cfd93f3-451f-497b-b565-2f7155e363b3 https://www.webberwentzel.com//News/Pages/covid-19-assessing-risk-patent-infringements-in-public-healthcare-emergencies.aspx Patented technology holds the key to many solutions that assist medical professionals daily in the diagnosis and treatment of patients. 2020-03-25T22:00:00Z 1fef9998-9e52-44a4-8ae4-b41d48dffeb6 https://www.webberwentzel.com//News/Pages/covid-19-competition-exemptions-for-banking-and-retail-property-sectors.aspx On the back of the declaration of COVID-19 as a national disaster and the subsequent publication of the COVID-19 Block Exemption for the Healthcare Sector under the Competition Act, 1998, the Minister of Trade, Industry and Competition (the Minister) on 23 and 24 March 2020 published the Block Exemptions for the Banking Sector and Retail Property Sector, respectively. 2020-03-24T22:00:00Z 7ae6ed07-be70-441f-a6e0-ea3702ad71ce https://www.webberwentzel.com//News/Pages/covid-19-a-new-environment-for-insurers-and-claimants.aspx After the likely spike in insurance claims arising from the COVID-19 pandemic, insurers are likely to introduce new or changes to existing exclusionary clauses which were not previously considered to be necessary. 2020-03-17T22:00:00Z e3dbf6b1-ff6e-4dfa-921f-9ba17ce8f5c4 https://www.webberwentzel.com//News/Pages/covid-19-and-business-interruption-are-you-covered.aspx The out-break of Covid-19, which originated in China and has since spread to most of the world, is one of the most serious threats to public health in recent times. 2020-03-16T22:00:00Z d2fbe31b-5efc-4012-8047-521055704f23 https://www.webberwentzel.com//News/Pages/companies-prepare-for-the-cipcs-new-compliance-checklist.aspx The Companies and Intellectual Property Commission has introduced a new requirement for all South African companies to declare their compliance with specific sections of the Companies Act 2008 by completing and submitting a compliance checklist online. 2020-02-12T22:00:00Z 567fc963-cc19-407c-955f-8408a76cd264 https://www.webberwentzel.com//News/Pages/commencement-the-protection-of-personal-information-act-.aspx The Information Regulator has requested that the President declare that the remaining provisions of the Protection of Personal Information Act commence on 1 April 2020. 2020-01-26T22:00:00Z a257f273-83d6-4b7d-8871-d1938f3a8a7c https://www.webberwentzel.com//News/Pages/sa-insurance-update-good-news-law-on-claims-for-indemnity-clarified.aspx The law regarding prescription of an insured's contingent right to claim indemnification from an insurer under an insurance policy has been clarified following a recent Supreme Court of Appeal judgment. 2020-01-15T22:00:00Z b8113abf-b98f-479f-8d3b-a1e60c637355 https://www.webberwentzel.com//News/Pages/seeking-to-rely-on-a-signed-exclusion-of-liability-and-indemnity-clauses.aspx A recent High Court decision is a good reminder of the protection provided by the Consumer Protection Act to consumers who have entered into agreements which limit and/or exclude the liability of suppliers for damages arising from services rendered. 2020-01-15T22:00:00Z fde34af3-8d8e-4fd4-b81e-b31f4a19ce0a https://www.webberwentzel.com//News/Pages/reflections-on-2019-and-key-insights-for-2020.aspx Each year we publish a South Africa - Year in Review and Year to Come 2019/2020 insights piece with our alliance partner, Linklaters. 2020-01-08T22:00:00Z cf1f57b8-a597-4f8d-8b75-4319a20b92a2 https://www.webberwentzel.com//News/Pages/understanding-the-obligation-on-shareholders-regulated-companies-to-disclose-information-related-to-beneficial-shareholders.aspx Private companies that are "regulated companies", as well as the shareholders of such regulated private companies, are required to comply with additional disclosure and reporting obligations as set out in the Companies Act for as long as the company is regulated. 2019-11-10T22:00:00Z e1d9659f-f918-4277-8d89-cde89c1838b9 https://www.webberwentzel.com//News/Pages/selecting-a-best-fit-cloud-solution-for-a-business.aspx The multitude of benefits that a business can reap from the correct implementation of cloud services has been well publicised and accordingly, many businesses are taking the decision to either, move business operations in their entirety to cloud platforms. 2019-10-31T22:00:00Z 2743a96c-4a91-4693-9759-5e1633b2e19f https://www.webberwentzel.com//News/Pages/webber-wentzel-bolsters-its-leading-insurance-offering.aspx Webber Wentzel has for many years been considered a leader in the insurance field. 2019-10-27T22:00:00Z c21ee446-eeaf-48c2-b926-bf3abaaaf727 https://www.webberwentzel.com//News/Pages/webber-wentzel-is-african-law-firm-of-the-year-at-the-african-legal-awards.aspx Webber Wentzel received the coveted African Law Firm of the Year award at the 2019 African Legal Awards on Friday, 6 September 2019. 2019-09-08T22:00:00Z 52513c1b-07e7-4902-afc1-d5e835caefc9 https://www.webberwentzel.com//News/Pages/5-new-partners-and-two-consultants-appointed.aspx Webber Wentzel has appointed five new partners and two consultants, enhancing its leading, full-service offering to its clients 2019-09-02T22:00:00Z e6577410-8e3f-451f-bd42-ae09252a32f0 https://www.webberwentzel.com//News/Pages/catch-up-with-competition-law-now-august-2019.aspx The Competition Tribunal conditionally approved the merger between Mosstrich (Pty) Ltd and Klein Karoo International (Pty) Ltd. The merger was initially prohibited by the Competition Commission. 2019-08-29T22:00:00Z 669704c4-2c6e-4c25-9660-d484e4fc7195 https://www.webberwentzel.com//News/Pages/4ir-and-south-africa.aspx The Fourth Industrial Revolution (4IR) is upon us. 4IR is affecting all levels of society, including the world of work. 2019-08-20T22:00:00Z 81f448da-439e-48f0-b5a0-09b343f96677 https://www.webberwentzel.com//News/Pages/catch-up-with-competition-law-now-july-2019.aspx Competition Appeal Court dismisses two collusion matters, Constitutional Court dismisses predatory pricing case against Media24, East African Community Competition Authority finalises strategic plans, our recent work and more. 2019-08-04T22:00:00Z 73fad9cb-0e6b-419d-b855-04cdb5b72295 https://www.webberwentzel.com//News/Pages/do-snitches-get-stitches.aspx All employers, employees and trade unions will need to be aware of the Constitutional Court's recent Dunlop decision which has clarified much of the uncertainty around how derivative misconduct is applied in the workplace. 2019-07-28T22:00:00Z 312e2777-2f20-4a8d-ad5b-b3a9f5be6cc9 https://www.webberwentzel.com//News/Pages/upcoming-compliance-dates-to-diarise.aspx There are a number of important upcoming environmental law related compliance dates to diarise. 2019-07-21T22:00:00Z 16d879d7-7a5e-4eec-9065-8b046ceb0179 https://www.webberwentzel.com//News/Pages/partial-commencement-of-the-competition-amendment-act-2018.aspx Certain sections of the Competition Amendment Act 2018 (the Amendment Act) have come into effect today, 12 July 2019 by the publication of Proclamation No. 46 of 2019 in Government Gazette No. 42578. 2019-07-11T22:00:00Z 9aae194d-e2cb-4c3d-ad16-b7d0dc7d30a1 https://www.webberwentzel.com//News/Pages/key-developments-across-africa-in-the-first-half-of-2019.aspx Although we are only halfway through the year, there have already been significant competition law developments across Africa. A number of new authorities have become operational and various legislative changes have been effected, impacting the competition law landscape in several jurisdictions. 2019-07-04T22:00:00Z 8d87bc9e-e63a-4063-9258-16d36a7b4504 https://www.webberwentzel.com//News/Pages/beware-employers-you-can-no-longer-discipline-an-employee-after-a-resignation-with-immediate-effect.aspx Employees often resign with immediate effect when facing disciplinary action. Employers may be unsure whether they can continue with an intended disciplinary action? 2019-07-03T22:00:00Z f841d2e9-60b8-415e-84be-4ccb0eb17903 https://www.webberwentzel.com//News/Pages/catch-up-with-competition-law-now-june-2019.aspx The Competition Tribunal (Tribunal) issued an administrative penalty of approximately ZAR16 million against Uniplate Group (Pty) Ltd (Uniplate) for abusing its dominance. 2019-06-30T22:00:00Z 47f347f5-1ed9-41fd-a3f4-6c03990a68e7 https://www.webberwentzel.com//News/Pages/assessing-legal-risks-in-the-move-to-cloud.aspx With the fourth industrial revolution in full swing, businesses are looking for faster and more efficient ways to service customers. Customers are also increasingly tech-savvy and demand more from their service providers, including quicker access and more tailored offerings. 2019-06-24T22:00:00Z b9e50992-ed64-424b-a3cc-e58a2cc6aed3 https://www.webberwentzel.com//News/Pages/navigating-merger-control-complexities-in-africa.aspx Merger control complexities in Africa can undermine the commercial value of a proposed transaction - we take a look at some of the potential stumbling blocks to doing business in Africa. 2019-06-20T22:00:00Z 02c549da-2ec7-44a4-baa6-99cc00924565 https://www.webberwentzel.com//News/Pages/a-rand-backed-cryptocurrency-in-the-form-of-a-stablecoin.aspx Cryptocurrencies, such as Bitcoin and Ethereum, have become well known for their volatile value. In contrast to this, "stablecoins" are cryptocurrencies that have been specifically designed to have a stable value. 2019-06-09T22:00:00Z 845f325a-fc72-4709-8f34-8e4163aa622f https://www.webberwentzel.com//News/Pages/amendments-to-the-amended-generic-codes-of-good-practice-on-b-bbee.aspx On 9 April 2019, the Minister of Trade and Industry signed four amendments to the Amended Generic B-BBEE Codes of 2013 (Codes). 2019-06-02T22:00:00Z fa821f63-ac47-442b-ae1c-336e5d17c6c1 https://www.webberwentzel.com//News/Pages/navigating-the-administrative-regime-of-the-carbon-tax-act.aspx The Carbon Tax Act 15 of 2019 (Carbon Tax Act), the Customs and Excise Act 91 of 1964 (Customs Act) and the Customs and Excise Amendment Act 13 of 2019 (Customs Amendment Act) pose numerous uncertainties on the road to implementation of carbon tax. 2019-05-29T22:00:00Z 6e2f18af-81db-479d-8486-dcfe366ef928 https://www.webberwentzel.com//News/Pages/carbon-tax-laws-effective-from-1-june-2019-business-be-warned-.aspx On 22 May 2019, President Cyril Ramaphosa assented to the long-awaited Carbon Tax Act, 2019, which was gazetted on 23 May 2019. 2019-05-23T22:00:00Z 08ecc73a-a2e9-42de-8634-a0e96110f154 https://www.webberwentzel.com//News/Pages/dont-speak-ill-of-your-employer-in-public-it-may-get-you-fired.aspx In a recent matter the Labour Court considered the dismissal of three employees who made disparaging statements about their employer on public radio. 2019-05-19T22:00:00Z bcbdc6b4-25a8-42e1-bf0c-09bb688e3354 https://www.webberwentzel.com//News/Pages/sars-clarifies-what-transport-services-rendered-by-the-employer-means.aspx To assist employers and employees with over-coming transport-related difficulties, the Income Tax Act, 1962 (the Act) introduced a mechanism to allow employers to provide transport services to their employees and that, although qualifying as a taxable fringe benefit in the employees' hands, no taxable value was given to such benefit. 2019-05-12T22:00:00Z 0a6b4526-2c69-404d-a6f3-38636ff7afc7 https://www.webberwentzel.com//News/Pages/fsca-proposes-introduction-of-a-conduct-standard-for-banks.aspx On 29 April 2019, the Financial Sector Conduct Authority (FSCA) released a statement supporting the draft Conduct Standard applicable to the conduct of banks under section 106(2)(b) of the Financial Sector Regulation Act 9 of 2017 (FSR Act). 2019-05-06T22:00:00Z 4b50386f-180a-44c7-a098-542451c14179 https://www.webberwentzel.com//News/Pages/jse-proposes-changes-to-listings-requirements-to-strengthen-regulation-of-primary-listings.aspx On 12 April, the JSE published for comment proposed amendments to its Listings Requirements to strengthen the regulation of primary listings and secondary listings. 2019-04-29T22:00:00Z 1953c741-7ef4-43df-9d91-cadd9b1fa2ee https://www.webberwentzel.com//News/Pages/higher-penalties-on-the-cards-for-failing-to-notify-mergers.aspx When faced with legislation that requires parties to take certain steps or prevents them from implementing a particular course of action, the questions often asked include "what are the consequences and who will be liable to pay?" 2019-04-09T22:00:00Z 8304e5e2-3900-4cd5-8e4d-d3d61a73f2e9 https://www.webberwentzel.com//News/Pages/will-proposed-amendments-to-the-companies-act-make-raising-post-commencement-funding-harder.aspx Recent proposals to amend sections 134 and 135 of the Companies Act includes changes which may have the effect of unfairly benefiting landlords and other lessors of property (who are proposed to be considered as post commencement finance (PCF) providers) to the detriment of other PCF providers, namely lenders. 2019-03-27T22:00:00Z a6b8241d-7f95-4352-bf92-7f48d9f01e98 https://www.webberwentzel.com//News/Pages/vat-electronic-services-regulations-finally-promulgated.aspx The introduction of the new VAT regime for cross-border e-commerce transactions is a major game changer, regardless of whether the recipient is an individual or company. 2019-03-18T22:00:00Z 68f324f1-b29e-4076-9e21-c6c33da5372a https://www.webberwentzel.com//News/Pages/sca-decision-a-shake-up-for-insurers-who-underwrite-pi-insurance-advisers-intermediaries-brokers.aspx The issues considered on appeal in a decision by the Supreme Court of Appeal (SCA) are important both for insurers who underwrite Professional Indemnity (PI) insurance and advisers, intermediaries and brokers. 2019-03-17T22:00:00Z 0068d9fe-6c8f-4ed1-8920-79b80c840a52 https://www.webberwentzel.com//News/Pages/smart-contracts-vs-traditional-contracts-same-but-different.aspx Smart contracts mark the evolution of the binding contract from a set of terms and conditions, governed by the common law, into a set of conditional statements governed by a programming language and the tenets of blockchain technology. 2019-03-12T22:00:00Z 4a5c2831-74b8-4a5d-9df2-58206f96df4d https://www.webberwentzel.com//News/Pages/understanding-the-exemption-to-the-new-national-minimum-wage.aspx The National Minimum Wage Act 9 of 2018 (NMWA) came into operation on 1 January 2019. The Minister of Labour also released the National Minimum Wage Regulations, 2018 (Regulations) which came into operation on 1 January 2019. 2019-01-16T22:00:00Z b45dac42-e41a-42f3-b485-9c0859ed7100 https://www.webberwentzel.com//News/Pages/webber-wentzel-publishes-insights-pieces-looking-at-key-legal-and-regulatory-developments-for-2018-2019.aspx Webber Wentzel together with its alliance partner, Linklaters, recently published a Year in Review and Year to Come 2018/2019 insights piece. This publication highlights significant legal and regulatory developments that took place in South Africa during 2018, and expected changes for 2019. 2019-01-14T22:00:00Z 8a977d16-1394-4d16-b6ce-5d3eff3786cd https://www.webberwentzel.com//News/Pages/catch-up-with-competition-law-now-november-2018.aspx On 20 November 2018, the National Council of Provinces' Economic and Business Development Committee adopted the "B" Version of the Competition Amendment Bill 2018 (the Bill). 2018-12-02T22:00:00Z bcf18d78-541b-454b-be27-2160eb8657d9 https://www.webberwentzel.com//News/Pages/revised-carbon-tax-bill-introduced-to-parliament.aspx Last week the Minister of Finance introduced the revised Carbon Tax Bill (Bill) to Parliament. The Bill takes into account feedback received during the Parliamentary hearings on the December 2017 draft Bill that took place earlier this year. The Bill aims to give effect to South Africa's objectives and commitments to reduce greenhouse gas (GHG) emissions under the National Climate Change Response Policy and the Paris Agreement, respectively. 2018-11-27T22:00:00Z 44346db3-7069-4bb9-b971-758cf04ba476 https://www.webberwentzel.com//News/Pages/catch-up-with-competition-law-now-october-2018.aspx The "B" Version of the Competition Amendment Bill 2018 (the Bill) was passed by the National Assembly on 23 October 2018. A summary of important additional proposed amendments in the "B" version of the Bill, particularly in relation to the sections on abuse of dominance can be accessed here. The Bill is currently at NCOP level and comments on the latest version are due on 7 November 2018. 2018-10-30T22:00:00Z 56c0cc52-a8a4-4cef-9115-912a83489a4c https://www.webberwentzel.com//News/Pages/the-launch-of-webber-wentzel-alert.aspx Webber Wentzel is excited to announce the launch of “Webber Wentzel Alert”, an online tool designed to launch a co-ordinated legal emergency response at the click of a button in the event of a search and seizure by the police and/or other regulatory authorities (commonly known as "a dawn raid"). 2018-09-28T22:00:00Z c054862e-ad15-48b1-817b-7cd949413cd2 https://www.webberwentzel.com//News/Pages/catch-up-with-competition-law-now-august-2018.aspx Public hearings to discuss the Competition Amendment Bill, 2018 (the Bill) took place in Parliament on 28 and 29 August 2018. Our recent client alert setting out the key amendments proposed by the Bill is available here. Comprehensive submissions were made by various stakeholders such as the Law Society of South Africa, the Black Business Council, COSATU, Business Unity South Africa and Section 27. We will keep you updated on all further developments. 2018-09-05T22:00:00Z 8e24c408-fe45-41d7-b67d-d14fa3a382c0 https://www.webberwentzel.com//News/Pages/disrupting-the-disrupted-the-dawn-of-fintech-regulation-in-the-twin-peaks-new-world-order.aspx The South African Revenue Service (SARS) has effectively broken the regulator blood oath taken in 2014 that had frozen the South African cryptocurrency market in the realm of regulatory neutrality for the past 3 years. 2018-04-10T22:00:00Z 8d53b691-4cc6-4045-8d33-f86a86f52218 https://www.webberwentzel.com//News/Pages/cryptocurrency-transactions.aspx In South Africa, as with most other countries around the world, there is no guidance and regulation regarding cryptocurrencies such as Bitcoin. 2018-03-25T22:00:00Z ee616cdd-f987-44b4-bbfc-a91100487fe7 https://www.webberwentzel.com//News/Pages/presentation-from-the-financial-regulatory-workshop-on-recent-developments-in-the-financial-services.aspx Thank you to all who attended the Webber Wentzel Financial Regulatory workshop on recent developments in the financial services sector hosted on Wednesday, 24 January 2018 in Cape Town and Thursday, 25 January 2018 in Johannesburg. 2018-01-25T22:00:00Z d2c36f2b-7c95-44cd-a1af-ba8f0f906cd3 https://www.webberwentzel.com//News/Pages/amended-b-bbee-financial-sector-code-effective-from-1-december-2017.aspx On 1 December 2017, the Department of Trade and Industry published the long-awaited amended financial sector code of good practice on broad-based black economic empowerment (B-BBEE) (Amended FSC). 2017-12-05T22:00:00Z 05d9aada-de19-45e2-9cf8-e4768dd1e32d https://www.webberwentzel.com//News/Pages/taxation-laws-amendment-bill-2017-part-5.aspx In this fifth and final e-alert covering the Taxation Laws Amendment Bill, 2017 (TLAB), we discuss amendments to the Income Tax Act, 1962 (ITA) on the contributed tax capital (CTC) limitations to non-resident shareholders, amendments relevant to long-term insurers, alignment of section 24JB to the International Financial Reporting Standards 9 (IFRS 9), and the additional doubtful debt deduction available to banks. 2017-11-09T22:00:00Z 9ed550bc-4765-43fe-b16b-5ea90d17c05e https://www.webberwentzel.com//News/Pages/financial-sector-regulation-act-2017-signed-into-law.aspx On 21 August 2017, President Zuma signed into law the Financial Sector Regulation Act 2017 (FSR Act). 2017-08-21T22:00:00Z 3715c626-b6dd-469f-84f6-805701cd7061 https://www.webberwentzel.com//News/Pages/climate-chang-ing-the-scope-of-lender-due-diligence-and-annual-reporting.aspx On 7 August 2017, an Australian couple (the Applicants) filed a law suit against the Commonwealth Bank of Australia (CBA), where they allege that the CBA failed to disclose material risks in relation to climate change in their financial report for the 2016 financial year (CBA Application). 2017-08-20T22:00:00Z 8ce21934-3f16-4ae2-9ddd-24bd1d452241 https://www.webberwentzel.com//News/Pages/expansion-of-banks-power-to-hold-funds-on-suspicion-of-a-tax-offence.aspx The 2017 draft Taxation Laws Amendment Bill and draft Tax Administration Laws Amendment Bill were released for comment on 19 July 2017. 2017-08-14T22:00:00Z 64be8ef1-06ff-4811-a7ab-fdb4b35037c4 https://www.webberwentzel.com//News/Pages/feedback-from-the-financial-regulatory-workshop-on-the-impact-of-impending-legislative-amendments-on.aspx Thank you to all who attended the Financial Regulatory workshop on the impact of impending legislative amendments on group scheme structures hosted on Wednesday, 19 July 2017. 2017-07-25T22:00:00Z 9470dfaf-89d0-43de-aa99-f3decf9850be https://www.webberwentzel.com//News/Pages/cyber-resilience-guidance-note-issued-by-the-sarb.aspx On 15 May 2017, the South African Reserve Bank (SARB), through the Office of the Registrar of Banks (the Office), issued Guidance Note G4/2017 dealing with cyber resilience (the Guidance Note) to banks, branches of foreign institutions, controlling companies, eligible institutions and auditors of banks or controlling companies (banks). 2017-07-02T22:00:00Z acc99e28-044c-4de2-bc11-edd49ca9363e https://www.webberwentzel.com//News/Pages/financial-sector-regulation-bill.aspx The parliamentary process on the Financial Sector Regulation Bill (FSR Bill) has been completed. The National Assembly passed the FSR Bill on 23 June 2017, and it has been sent to the president for his signature. 2017-06-26T22:00:00Z f7a5e45b-52c6-458d-9934-5238d7f434e8 https://www.webberwentzel.com//News/Pages/Catch-Up-With-Competition-Law-Now-May-2017.aspx The Minister of Economic Development, Ebrahim Patel, has announced that proposed changes to the Competition Act, 89 of 1998 (Competition Act) are being finalised. During the 2017 Budget Vote Speech, Minister Patel said that the proposed changes will address, "high levels of economic concentration and racially-skewed ownership profiles" 2017-05-30T22:00:00Z