Close Corporations - Should Private Companies be Abolished in South Africa?

3089 9 69667 2 2409884 document 69667 lightbox.jpg image/png 5104d891778cbb49179ff9eb6011c7a3 MD5 61086 2020-10-16 01:10:17 https://vuir.vu.edu.au/3089/2/lightbox.jpg 3089 2 2 image/png other Thumbnails conversion from text to thumbnail_lightbox en staffonly

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http://eprints.org/relation/isVersionOf https://vuir.vu.edu.au/id/dark_document/69649 http://eprints.org/relation/isVolatileVersionOf https://vuir.vu.edu.au/id/dark_document/69649 http://eprints.org/relation/issmallThumbnailVersionOf https://vuir.vu.edu.au/id/dark_document/69649 archive 664 disk0/00/00/30/89 2011-08-19 05:50:34 2021-08-27 07:44:36 2011-08-19 05:50:34 article show Spisto Michael Spisto, Michael Close Corporations - Should Private Companies be Abolished in South Africa? pub FOR_2008_180100 Law ResPubID10236, South African company law, British company law system, legal needs of small businessmen, Close Corporations Act, private companies in South Africa, New Zealand corporate system, private and public companies In 1984 South Africa became the first country with a British company law system to effectively provide for the legal needs of the small businessman. The Close Corporations Act is one of the most remarkable and significant innovations in South African company law. Thus, since the close corporation has been introduced, a fundamental question arose as to whether this should result in the phasing out of the private company in South Africa. It can be argued that the boundaries between public and private companies in South Africa have become increasingly indistinct partly due to the creation of close corporations and partly because the present Companies Act, due to its voluminous nature and complexity, is difficult to apply and is out of touch with the needs of the country. Thus, the necessity for the continued rigid adherence to traditional statutory distinctions between private and public companies in South Africa should be seriously questioned. It would be advisable for South Africa to study the New Zealand corporate system. Although South Africa has the close corporation, which New Zealand does not have, the distinction between private and public companies in New Zealand was abolished. More than a decade has now passed and the abolition of these company types remains in New Zealand. In May 2004 the DTI issued for public comment a policy document to establish the approach that government intends taking to review company law in South Africa. 2006 published LexisNexis Australia 69649 2 2409854 dark_document 69649 Spisto Michael.pdf application/pdf 97c4c6cf02beefeaa0ce8a894b0f1207 MD5 45579 2020-10-16 01:00:12 3089 1 1 application/pdf text Generic Permission Form en staffonly

Spisto Michael.pdf

other none Australian journal of corporate law 20 1 116-123 TRUE 1037-4124 Includes bibliographical references FALSE