Sanchia Temkin in Business Report:
“New company laws dealing with schemes of compromise could create further inroads into the rights of creditors.
Companies no longer have to apply to the high court before a compromise is proposed to creditors. The new law is an attempt by the legislature to bring business rescue and compromises closer to US and UK bankruptcy law with “pre-packaged” arrangements, said company lawyers.
Under the new Companies Act the board or liquidator of a company will merely have to propose the arrangement by delivering a copy of the proposal …

The Consumer Protection Bill has become the Consumer Protection Act. The Department of Trade and Industry has released a press statement:
“President Kgalema Motlanthe has signed into law the Consumer Protection Bill. The primary purpose of the new Act is to prevent exploitation or harm on consumers and to promote the social well being of consumers. The Act seeks to create and promote an economic environment that supports and strengthens a culture of consumer rights and responsibilities, whilst through the measures adopted therein; it seeks to promote fair, efficient and transparent …