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Black Economic Empowerment – Amended Company Laws will stimulate Deal Activity

20 May 2008Deneys Reitz

Historically, our company laws prohibited a company from providing financial assistance for the purchase of its own shares. This restriction was aimed at preserving the company’s capital and protecting the minority shareholders and creditors of the company. However, in recent years, it also had the effect of hampering the implementation of black economic empowerment in South Africa in that empowerment partners could not look to the company for financial assistance to take up shares in the company.

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Quick Polls

QUESTION

Health Minister Aaron Motsoaledi has said that the NHI will bring about change in the industry which will see medical schemes a slim picture of their former selves. Do you think this is the right approach to be taken?

ANSWER

No, medical schemes offer invaluable coverage in a market that is being ravaged by high costs.
Yes, universal healthcare will benefit the country in the long run.
Just wait, the minister will soon find out that a medical industry without medical schemes is no industry at all.
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