PERSONAL LIABILITY OF DIRECTORS
This edition reviews the latest cases relevant to directors’ liability with particular reference to the appointment of a curator to investigate misconduct on the part of directors.
It also gives a brief summary of the new provisions relating to directors’ liability as proposed in the new Companies Bill and deal with the latest case on liability in terms of suretyship obligations.
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TAX AMENDMENTS - 2007
The Revenue Laws Amendment Bill, the Revenue Laws Second Amendment Bill, the Securities Transfer Tax Bill and the Securities Transfer Tax Administration Bill were all tabled in Parliament on 30 October 2007. These Bills provided for some fairly wide ranging and substantive changes to the fiscal terrain, and the more important amendments are dealt with hereunder.
A number of these have different effective or commencement dates, which will be detailed where appropriate. Except for these, the amendments to the Income Tax Act (the Act) are deemed to come into operation as from the commencement of tax years ending on or after 1 January 2008, ie they will apply, for example, for the years ending 29 February, 30 June, 30 September and 31 December 2008.
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