Namibia industrial development agency act 16 of 2016. Section 2 of the said act deals with the applicability of certain parts of the act to certain persons and situations. In terms of section 452 of the companies act, 2004 act no. Section 295 4 deals with the penalty section of any such transaction which falls under section 295 and require approval of central government.
Today, we learn the provisions of section 295 of incometax act 1961. Act to provide for the formation of the national fishing. This act may be cited as the companies act, 2011, and shall come into operation on such a date as the minister may, by notice published in the gazette, appoint. The united nations convention on the law of the sea hereinafter referred to as. Me morand um and ar ticlcs of association of corporation. Be it enacted by the parliament of the republic of namibia, as follows. Definition of carrier against shares substituted by sec 1a of act 26 of 1992. Namibia industrial development agency act, 2016 under section 352 of the namibia industrial development agency act, 2016 act no. The companies act financial assistance background the companies act 71 of 2008 the act came into effect on 1 may 2011. Companies act 2014, section 295 irish statute book.
The executive part of the security sector is concerned with the development, management and. Registration of external companies as companies in namibia. Act to provide for the incorporation, management and liquidation of companies. These standards and regulations are pending until implementation of the standards act no. Download pdf government gazette republic of namibia. Republic of namibia 4 annotated statutes regulations close corporations act 26 of 1988 general regulations 3 subject to the provisions of section 61 of the act, any fee, additional fee or other money payable to the registrar may, except where otherwise provided in these regulations, be paid at any office of the receiver of revenue. The policy framework aimed to provide guidance on the regulation of the consumer. Most of the amendments made, however, relate to a modernisation of the act with wording amendments.
The heading of section 5 in the text of the act is seal of. A significant change from the previous act of 1973 arises in section 45 relating to financial assistance. Companies act, 2004 summary of key changes deloitte. Recently, we have discussed in detail section 294 act to have effect pending legislative provision for charge of tax of it act 1961.
You may click here to get latest amended and updated ebook on the companies act 20 in pdf and click here for corporate law in amazon kindle format. China, the china capital iron and steel corporation took part in the. Section interpretation 1 definitions chapter i 2 4 application of act chapter ii 5 18 administration of act. I the provisions of the companies act shall apply to the corporation. In this section, we define how these terms are used in this paper. Most of the amendments made, however, relate to a modernisation of the act with wording amendments, from south west africa to namibia, to remove gender bias, to include namibian legislation. To provide for the establishment of the namibia industrial development agency.
Companies act, 2004 under section of the companies act, 2004 act no. Application of companies act, banking institutions act, 1998, and other laws 4. Democratic control implies that the military act in ways. Application of act to existing companies and savings. Government notice 173 of 2010 gg 4536 came into force on 1 november 2010 regulation 65 as amended by. Sec 2 substituted by sec 25 of act 51 of 1988 and by sec 37 of act 3 of 2001. Nature of securities or other assets which may be included in unit portfolios 2.
Companies act 71 of 2008 english text signed by the president assented to. Chapter viii 208 251 directors chapter ix 252 268 remedies of members chapter ixa 268a268i secretary for public companies chapter ixa inserted by s. The namibian companies act 28 of 2004, amended 2011, contains a numberof provisions that will directly impact all companies, directors and officers. Companies amendment act 3 of 2011 act to provide for the incorporation, registration, organisation and management of companies, the capitalisation of profit companies, and the registration of offices of.
In 1997, the namibia water corporation act was passed and, with that. Secretaries and an expert from national petroleum corporation of namib. The heading of section 5 in the body of the act is seal of. Republic of namibia 1 annotated statutes regulations companies act 28 of 2004 companies administrative regulations, 2010. The public enterprises governance act referred to is act 2 of 2006. Section 295 of it act 1961 provides for power to make rules. Public procurement act, 2015 act 15 of 2015 public procurement regulations public procurement act 15 of 2015 amendment. The provisions of section 295 are effective from 15th. Companies act means the companies act, 1973 act 61 of 1973 as amended. Supervisory authority act, 2001, as the chief executive officer of the namibia financial institutions supervisory authority shall be the registrar of stock exchanges. Signed by the president on 19 december 2004 arrangement of sections section chapter 1 interpretation and application of act 1. Namibia industrial development agency act 16 of 2016 gg 6202 brought into force in relevant part on 15 november 2018 by gn 295 2018 gg 6767 the act is amended by section 101a of the income tax act 24 of 1981, as inserted by the income tax amendment act.
Auditors act, 1951 act 51 of 1951, and who is a member of the institute of chartered accountants of namibia referred to in that act. Local participation in decentralized water governance. Institute of standards and technology, part of the u. Close corporations act 26 of 1988 parliament of namibia. National housing enterprise act, 1993 act 5 of 1993 namibia. Companies act 28 of 2004 gg 3362 brought into force on. Certain provisions to be included in memorandum of association. Part 1 companies registration office and registrar. Companies act 28 of 2004 companies administrative regulations, 2010 9. Please refer to schedule 5 of the new companies act, no. An impact assessment of the regulation of microfinance.
Today, we learn the provisions of section 295 of the companies act 20. National fishing corporation of namibia act 28 of 1991. Act 16 of 2016 gg 6202 brought into force on 1 october 2018 by gn 2532018 gg 6724 with the exception of sections 30, 32, 33 and 34, which were brought into force on 15 november 2018 by gn 295 2018 gg 6767 act. Republic of namibia 2 annotated statutes companies act 28 of 2004 6. Act 8 of 2016 substitutes board for minister throughout the act, except in sections, 15, 987, 16 and 29, 1476, 3361 and 452. Continental shelf submission of namibia the united nations. And in 2014 a becomes director of the company, then section 295 will not apply in this case, as a has taken loan in a capacity of other than the director. Section 1 of the agricultural commercial land reform act, 1995 hereinafter referred to as the principal act, is hereby amended. Deloitte namibia changes to the 2004 companies act made. In this act, unless the context indicates otherwise board means the board of directors of the corporation.
Insider trading in south africaanother attempt 2000 south african law journal 295, 284. Amendment of section 2 of act 30 of 1941, as amended by section i of act 27 of 1945, section i of act 36 of 1949, section i of act 51 of 1956, section i of act 9 of 1970, section i of act ii of 1974, section i of act 24 of 1984 and section 3 of proclamation 45 of 1990. Provisions of section 295 of companies act 20 aubsp. The act was initially applied to south west africa by the. Insolvency act 24 of 1936 sa income tax act 31 of 1941 sa sa gg 2906 came into force on 1 july 1941 section 97 of act 31 of 1941 hirepurchase act 36 of 1942 sa sa gg 3050 came into force on date of publication. The companies act 61 of 1973 has been replaced by the. Republic of namibia 1 annotated statutes regulations companies act 28 of 2004 companies administrative regulations, 2010 regulations made in terms of companies act 28 of 2004 section companies administrative regulations, 2010 government notice 173 of 2010 gg 4536 came into force on 1 november 2010 regulation 65 arrangement of regulations.
It is obvious that it was never intended to apply to a citizen of namibia because it would remove. Prohibition of partnership exceeding twenty m embers. An act to reform company law and restate the greater part of the enactments relating to companies. To provide for the incorporation, management and liquidation of companies. Financial assistance to directors university of cape town. Provisions supplementing definition of holding company in section 3.
The authority administers the following acts statutes and related regulations. Security commission established under article 114 of the namibian. Registrar and offices for registration of companies. Namfisa was established by the namibia financial institutions supervisory authority act, act 3 of 2001. Companies act 28 of 2004 companies administrative regulations, 2010 3 subregulation 2 does not apply in respect of a copy referred to in section 12 of the act which document is certified by the registrar of the high court as a true copy of the original document.
Insolvency act 24 of 1936 sa legal assistance centre. The namibian companies act, act 28 of 2004 the act contains a number of provisions that will directly impact all companies, directors and officers. Download all sections of the companies act 20 in pdf format. Chapter xxiii sections 281 to 298 of the income tax act 1961 deals with the provisions related to miscellaneous. Offence to issue incomplete financial statements and circulars.
This report is a critical legal analysis of the law and practice with regards to. The following act which has been passed by the parliament and signed by the president in terms of the namibian constitution is hereby published in terms of article 56 of that constitution. Signed by the president as amended by act to provide for. Appointment of registrar, deputy registrar and delegation of power. Trevor manuel the then minister of finance raised concern regarding intragroup company loans without. Insolvency amendment act 16 of 1943, which stated in section 37.
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