BUSI MAVUSO: Mooted regulations will only keep more companies away from SA
A new bill will diminish SA’s attractiveness as a place for companies to do business by adding to many other onerous compliance requirements
The Draft Companies Amendment Bill was approved by the cabinet in September and is now out for public comment. It adds significant administrative burdens on companies while diminishing SA’s attractiveness as a place to do business.
The bill has two main thrusts. The first is that listed companies are going to be required to disclose the ratio of the top paid to the bottom paid 5% of workers. The second is a requirement to identify shareholders who are the “true or beneficial” owners of shares in a company...