Companies Act: Implementation date deferred (posted 30 September 2010)

The Department of Trade and Industry has announced the deferral of the effective date of the Companies Act, 2008.

The Companies Act, No. 71 of 2008 (the Act), was due to become effective during the last quarter of 2010. The Act is however being substantially amended by an Amendment Bill that still has to be introduced in Parliament. The draft Regulations to the Act have apparently also been substantially amended and are also still to be published.

The targeted implementation date has been deferred April 2011, which will allow the Department of Trade and Industry additional time to complete the process by publishing the Amendment Bill and Regulations for comment, as well as allowing business some time to prepare for the implementation of the Act.

Additional information