How the New Companies Act Will Affect the Concept of "Residence"

In an article at Business LIVE, Grant Ford and Yaniv Kleitman investigate the “thorny issue” of the concept of “residence” as it applies in the New Companies Act. Ford and Kleitman say that “the concept of ‘residence’ may be of fundamental importance for the purpose of determining which division of the High Court has jurisdiction over a company in respect of a particular matter”.

For more about the legislation, read The New Companies Act Unlocked by Carl Stein:

The concept of “residence” may be of fundamental importance for the purpose of determining which division of the High Court has jurisdiction over a company in respect of a particular matter.
The “residence” of a company is a thorny issue at best as, being a juristic person, it only acts through its officers wherever such officers may be physically present at any given time.

This concept was adjudicated upon by Judge Binns-Ward in the Western Cape High Court case of Sibakhulu Construction (Pty) Ltd v Wedgewood Village Golf and Country Estate (Pty) Ltd in the context of concurrent liquidation and business rescue proceedings in different jurisdictions.

• Complete article: Business LIVE

Book details

• The New Companies Act Unlocked by Carl Stein
  Book homepage
  EAN: 9781920025281
  Find this book with BOOK Finder!