The confusion and uncertainty that seems to surround most Department of Trade legislation these days continues. The new Companies Act that was so much of a dog’s breakfast in it’s original form that it required an amendment before implementation appears to have been delayed again. This because the amendment Bill to try correct all the grammatical and reference errors has not be signed by the President, who is currently out of the country.

The Amended Companies Act was meant to have come into operation at the end of September last year was delayed until  the 1st April 2011 (yes there is a certain irony in that) now appears to have been delayed further.

In a statement from the  DTI today it said: “the DTI notes the public interest regarding implementation date of the Companies Act 71 of 2008. It is important to acknowledge that the parliamentary process in regard to the adoption of the Companies Amendment Bill was only finalised on 24 March 201 (sic), following a rigorous and inclusive consultative process that resulted in the incorporation of recommendations from stakeholders. The parliamentary process took slightly longer than anticipated.

“The Companies Amendment Bill is currently going through the necessary approval processes for the President’s assent. the dti is of the view that the Presidency must be allowed to apply its mind sufficiently in processing the Companies Amendment Bill before signing it into Law. the dti will continuously advise stakeholders of progress in this regard. the dti is confident that all systems and processes necessary for the Companies and Intellectual Property Commission’s operation are on track, and  acknowledge the practical challenges surrounding the implementation date.”