Page 46 - Nexia SAB&T Business in South Africa Guide 2024

IMPORTANT LAWS AFFECTING BUSINESSES IN SOUTH AFRICA

Knowledge of and compliance with legislation is essential for the good
governance of a company. When doing business in SA, it is important to have a
working knowledge of the guidance provided in The King Report and King Code.
While this list is not exhaustive, important legislation (and legislative
amendments where applicable) to be aware of includes:
■ The Companies Act, as amended.
■ The Close Corporation’s Act.
■ The General Laws (Anti-Money Laundering and Combating Terrorism
Financing) Amendment Act.
■ The South African Income Tax Act.
■ The Labour Relations Act.
■ The Occupational Health and Safety Act.
■ The Employment Equity Act.
■ Promotion of Access to Information Act.
■ Financial Intelligence Centre Act.
■ Trade Marks Act.
■ Business Names Act.
■ Consumer Protection Act.
■ The Competition Act.
■ Electronic Communications and Transactions Act.
■ The Protection of Personal Information Act.
■ National Credit Act.
■ Basic Conditions of Employment Act.
■ Broad-Based Black Economic Empowerment Act.
■ Industry or sector specific legislation.
■ Listed companies must adhere to JSE regulations.
■ On 1 December 2021, parts of the Cybercrimes Act, 19 of 2020, came into
operation. The President may fix different dates for different provisions of
the Act.

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