Short description
This is a long-awaited book that comprehensively and easily addresses the
law of business undertakings in South Africa, and draws a comparative
analysis with the English position, where necessary.
Long description
This is a long-awaited book that comprehensively and easily addresses the
law of business undertakings in South Africa, and draws a comparative
analysis with the English position, where necessary. The book is presented
in an easy to follow structure and covers most legal aspects concerning
major forms of business undertakings (sole proprietorships, partnerships,
close corporations and companies) in South Africa without derogating from
the dynamism of the substance. Although this long overdue book covers an
overview of major forms of business undertakings in South Africa, its
emphasis is on legal and entrepreneurial issues affecting companies with a
share capital, more especially in view of the recent reforms in the
corporate governance area. In dealing with issues affecting companies, the
book is conveniently divided into two interrelated parts: Corporate Finance
Law and Corporate Governance. The author believes that corporate law must be
seen as essentially concerned with providing a corporate entity or organ, in
the first place, to facilitate and regulate the process of raising capital
(legal principles of Corporate Finance) and, in the second, to impose
controls on persons whose power is derived from the finance that the use of
the corporate form has placed at their disposal (Corporate Governance).
Corporate governance issues covered include the role of directors and
shareholders in corporate governance; executive pay and corporate
governance; stakeholder concerns; enforcement of corporate governance
standards; insider trading; protection of minorities and delinquent
directors. The book comprehensively considers the Code of Corporate
Practices and Conduct in the King Report (2002). This is the first book of
its kind on Corporate Law in South Africa, and probably one of the few, if
not the only one, in the entire commonwealth jurisdiction since it deviates
from the approach of many books that treat corporate law and corporate
governance as if the two were mutually exclusive.