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Cecil Kilpin | October 2023 Newsletter

By |2023-10-17T11:05:57+02:00October 17th, 2023|Accounting, Business, Finance + Economics, Goverment, Newsletter|

Companies First Amendment Bill, 2023 And Second Amendment Bill, 2023. The Companies First Amendment and Second Amendment Bill were tabled in Parliament on the 28 August 2023, and have been published. [The initial draft of the Companies Amendment Bill was published in 2018, followed by a revised draft Bill in 2021, both of which have undergone extensive public consultation and engagement]. The First Amendment Bill seeks to, inter alia:Remove certain obstacles to legitimate business activityFacilitate greater equity between directors and senior management on the one hand, and shareholders and workers on the other hand – among other things by ensuring greater transparency regarding the disclosure of senior executive remuneration and its ‘reasonableness’. The Bill proposes that shareholders be advised at annual [...]

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Cecil Kilpin | September 2023 Newsletter

By |2023-09-19T15:07:45+02:00September 19th, 2023|Business, Finance + Economics, Goverment, Newsletter|

What You Need to Know About Living Wills. A living will is not the same as a last will and testament. A living will is a document that lets you express your preferences for medical care in case you become unable to communicate them yourself. A living will can help you avoid unwanted or unnecessary interventions, such as life support, resuscitation, or tube feeding, that may prolong your suffering or go against your values. A living will can also help your family and doctors make difficult decisions on your behalf, and reduce the potential for conflicts or disputes. A living will should be prepared separately from your last will and testament. Your last will and testament only takes effect [...]

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Cecil Kilpin | Legislation Changes – Beneficial Ownership

By |2023-06-13T11:15:32+02:00June 13th, 2023|Business, Environmental, Finance + Economics, Goverment, Newsletter, Tax|

AMENDMENTS TO THE TRUST PROPERTY CONTROL ACT. The General Laws (Anti-Money Laundering and Combating Terrorism Financing) Amendment Act (no. 22 of 2022) came into force on 1 April 2023, and amends the Trust Property Control Act [as well as the Nonprofit Organisations Act (no.71 of 1997), the Financial Intelligence Centre Act (no.38 of 2001), and the Companies Act (no.71 of 2008)]. It is hereinafter referred to as “the Amendment Act”. The amendments to the Trust Property Control Act are significant – the intention is to increase the disclosure requirements on trustees, to prevent the misuse of trusts, and to combat money laundering, terrorist financing and other financial crimes. The Amendments Comprise: The insertion of the definition of ‘‘accountable institution’’ Increased disclosure [...]

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Cecil Kilpin | May 2023 Newsletter

By |2023-05-29T13:10:46+02:00May 29th, 2023|Business, Environmental, Finance + Economics, Goverment, Innovation & I.T, Newsletter, Tax|

Cybercrime and the Role of Directors. The recent pandemic has seen a dramatic move towards the use of technology in the business world. While the use of technology has in some instances increased productivity and eased the way of doing business, cybercrime has become is a global phenomenon with company data being hacked on an all to regular basis. The big question is who is responsible for the safety of data and privacy of information. South Africa has world class legislation which at times does not deter cyber criminals due to the lack of enforcement by authorities. Legislation clearly puts the onus on directors of a company to take all reasonable steps to protect sensitive data. Directors duties [...]

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Cecil Kilpin | December 2020 Newsletter

By |2022-01-20T11:41:44+02:00November 30th, 2020|Business, Finance + Economics, Goverment, Newsletter|

(extract from the World economic forum’s “The Great Reset”) The COVID-19 crisis has highlighted many ways to do business more responsibly once it recedes. The cost of continuing with business as usual after COVID-19, without shifting investment from polluting fossil fuels to clean renewable energy, will only lead to further crises, according to a letter sent on behalf of more than 40 million health professionals to the leaders of G20 countries in May 2020. The letter asked that as governments devise massive stimulus packages in the wake of the pandemic they prioritize clean air, clean water, and a stable climate - in ways that build resilience to future health crises while at the same time creating more sustainable jobs. According [...]

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Cecil Kilpin | September 2020 Newsletter

By |2022-01-20T11:50:23+02:00October 1st, 2020|Business, Finance + Economics, Goverment, Newsletter, Tax|

Economic Overview The economic effects of the coronavirus crisis have been extensive and a recovery to pre-pandemic levels will take several years. Current forecasts from the IMF show global gross domestic product (GDP) contracting by about 4.9% this year, although the general economic outlook has improved somewhat. Second quarter GDP outcomes for most economies have been massively negative, as expected. At this stage, third and fourth quarter recoveries for 2020 are expected to be robust. However, the pace of growth into 2021 could be modest, depending on control of new virus outbreaks, the extent of supply and demand losses, and future growth in investment and productivity.   The Covid-19 outbreak has had major health, social and economic impacts, presenting difficulties in forecasting domestic and global [...]

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