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Lecture notes Companies Act of 2008 Lesson 2 (AIC22A2)

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Companies Act of 2008 Lesson 2

Institution
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Written for

Institution
Module

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Uploaded on
May 10, 2022
Number of pages
40
Written in
2016/2017
Type
Lecture notes
Professor(s)
D de villiers
Contains
All classes

Subjects

Content preview

Faculty of Economic and Financial Sciences
Unit 4

Rights and Duties covered by statute

,Department of Commercial
Accounting



Companies Act 2008

Lesson 1

2

,Department of Commercial
Accounting

Why the new Act?
Because of changes in:
•Economic
•Social
•Political landscape

, Department of Commercial
Accounting

The Company law was also needed to promote
competitiveness and development of South African
Economy by:
•Encouraging entrepreneurship and enterprise development,
thereby creating jobs
•Promoting innovation and investments in SA markets, e.g.
predictable and effective regulatory environment
•Promoting efficiency of companies and their management
•Encouraging transparency & high standards of governance
•Harmonising Company Law with international best practice
jurisdictions
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