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ALP East Africa

Amendments to Companies and Insolvency Laws in Uganda

The 2022 amendments to companies and insolvency laws seek to streamline operations of companies (and insolvent companies and individuals) by addressing inadequacies as well as administrative and operational shortcomings in the laws.

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Sal & Caldeira Advogados

Introduction of the concept of Affiliated Companies under the New Commercial Code

We hereby inform the business community and other interested parties of the introduction of the concept of affiliated companies (sociedades coligadas) under the new Commercial Code, approved by Decree-Law no. 1/2022, of 25 May (..

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Templars

Stress-Testing the Legal Regime for Single-Member Private Companies

The legal framework for single member private companies was one of the major reforms introduced by the Companies and Allied Matters Act 2020 (CAMA). In principle, this corporate structure allows for the formation, management, and operation of a private company, by a singl..

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KN Law

Changes To Capital Market Regulations

The Cabinet Secretary Finance recently gazetted the Capital Markets (Whistleblower Regulations) 2022 to give effect to the amendments to the Capital Markets Act (the Act) in 2018 by setting up a framework for the payment of rewards to whistleblowers. The  amendmen..
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Clyde & Co.

When may a South African court find that a director owes fiduciary duties to shareholders

More than 100 years ago the Salomon principle – that a company is distinct from its members – was laid down. A pillar of this principle is that the fiduciary duties of a director are owed to the company, not its shareholder..

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Fasken

Directors beware: the court emphasises the importance of disclosure in Atlas Park Holdings (Pty) Ltd v Tailifts South Africa (Pty) Ltd

South African company law has long recognised the general rule that a contract made by a company with one of its directors, or with a company or firm in which that director is interested, is voidable at the instance of the company in question, unless the company’s s..

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N. Dowuona & Company

Ghana Securities Industry Draft Guidelines (Crowdfunding), 2022

The Securities and Exchange Commission of Ghana (“SEC”) in April 2022 released the Draft Ghana Securities Industry (Crowdfunding) Guidelines (“Draft Guidelines”). These Draft Guidelines were published by the SEC pursuant to the Securities Industry Act, 2016 (Act 929) and ..

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FB Attorneys

Beneficial Ownership Threshold now 5%

Following the requirement to disclose beneficial ownership (BO) information through the amendment of the Companies Act vide the Finance Act, No. 8 of 1 July 2020 and the subsequently-issued Regulations, there has been a dilemma regarding the threshold percentage of ..

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Sal & Caldeira Advogados

Approval of the new Commercial Code

We hereby inform the business community and other interested parties that the new Commercial Code has been adopted/approved. In general, this new legislation aims to respond to the development of the private sector and the socio-economic dynamism that has occurred in rece..

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