09:00 - 13:00 (Registration from 08:15)
Durban Country Club
101 Walter Gilbert Road
Durban, KZN 4001
Moniqua Janse Van Vuuren
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Fundamental Principles: New Companies Act & MOI - Presented by Prof Walter Geach
Overview & Objectives
1 May 2012 marked the first anniversary since the inception of the Companies Act, 2008.
This unique half-day seminar will focus on fundamental aspects of the new Companies Act and offer insights into various sections of the Act and their practical application one year since inception.
The New Companies Act, 2008 brought about a number of tax consequences that are different from the corresponding provisions in the Companies Act, 1973. Frequently asked questions include:
Over and above the concealed tax implications, Professor Geach will also deal with the rights of
- What are the tax consequences of scrapping the par-value concept?
- Will the liquidity and solvency requirements of the New Companies Act have any tax effects?
- What are the unforeseen tax implications of "fundamental transactions" as envisaged in section 164 of the Companies Act.
- Will a company be required to have its financial statements audited for tax purposes as described in section 30 of the Act?
- Does the new memorandum of incorporation (MOI) have any hidden tax consequenses for companies?
(a) shareholders; (b) directors; (c) employees; (d) trade unions; (e) minority shareholders and (f) the public will be highlighted. The duties and liabilities of directors will also be highlighted.
The types of company (profit, non-profit, as well as the various types of for-profit company) that are possible in terms of the new Act will also be highlighted.
In addition the contents of an MOI and what an MOI should contain will be addressed in detail.
Provisions of business rescue provisions will also be explained by way of practical examples.
The practical effect of the financial and accounting aspects will all be looked at in detail. The importance of the audit function will be examined and compared with the requirements relating to an independent review.
Attending the seminar will result in a real practical understanding of the provisions of the new Act, and these can be understood in the context of the principles behind the Act.
Who should attend
- Tax and accounting professionals
- Legal professionals
- Company secretaries
- Business owners
- Financial advisors
About the presenter
Prof Walter Geach
Professor Geach is a Chartered Accountant and an Advocate of the High Court of South Africa. He is a Professor in the Department of Accounting at the University of the Western Cape.
He specialises in taxation, corporate law, trusts, financial accounting and financial planning and regularly presents seminars on these topics throughout South Africa. He has published a number of authoritative texts with LexisNexis, Juta and Company and Oxford University Press.
Your attendance will also give you 4 valuable hours of CPD.
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