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Reconsidering Distributions: A Critical Analysis of the Regulation of Distributions to Shareholders in the Companies Act of 2008, with Special Reference to the Solvency and Liquidity Requirement
Thesis (LLM)--Stellenbosch University, 2015
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| Format: | Thesis |
| Language: | en_ZA |
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Stellenbosch : Stellenbosch University
2015
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| _version_ | 1867614109626793984 |
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| access_status_str | Open Access |
| author | Van der Merwe, Constant Pieter |
| author2 | Sutherland, P. J. |
| author_browse | Sutherland, P. J. Van der Merwe, Constant Pieter |
| author_facet | Sutherland, P. J. Van der Merwe, Constant Pieter |
| author_sort | Van der Merwe, Constant Pieter |
| collection | Thesis |
| dc_rights_str_mv | Stellenbosch University |
| description | Thesis (LLM)--Stellenbosch University, 2015 |
| format | Thesis |
| id | oai:scholar.sun.ac.za:10019.1/97133 |
| institution | Stellenbosch University (South Africa) |
| language | en_ZA |
| last_indexed | 2026-06-10T12:46:49.061Z |
| license_str | Other — see source repository |
| provenance_str_mv | Harvested via OAI-PMH from SUNScholar — Stellenbosch University Repository |
| publishDate | 2015 |
| publishDateRange | 2015 |
| publishDateSort | 2015 |
| publisher | Stellenbosch : Stellenbosch University |
| publisherStr | Stellenbosch : Stellenbosch University |
| record_format | dspace |
| source_str | SUNScholar — Stellenbosch University Repository |
| spelling | oai:scholar.sun.ac.za:10019.1/97133 Reconsidering Distributions: A Critical Analysis of the Regulation of Distributions to Shareholders in the Companies Act of 2008, with Special Reference to the Solvency and Liquidity Requirement Van der Merwe, Constant Pieter Sutherland, P. J. Stellenbosch University. Faculty of Law. Department of Mercantile Law Companies -- Shareholders -- Regulations Company liquidity -- Law and legislation Company insolvency -- Law and legislation UCTD South Africa -- Companies Act, 2008. South Africa -- Companies regulations Business enterprises -- Law and legislation -- South Africa Thesis (LLM)--Stellenbosch University, 2015 ENGLISH ABSTRACT : The Companies Act 71 of 2008 introduces a completely new system for the regulation of distributions by a company to its shareholders. The preferred method for protecting the interests of creditors in distributions is now based on a solvency and liquidity test. Regrettably, the provisions setting out the requirements for distributions on the one hand and the solvency and liquidity test on the other have been poorly drafted. This thesis first explains and then applies an innovative interpretation theory to these provisions with a view to piecing together coherent content. The thesis finds that creative interpretations will not suffice in various places, meaning that substantive revision is required. The thesis concludes with brief amendment proposals and accompanying commentary. AFRIKAANSE OPSOMMING : Die Maatskappywet 71 van 2008 bied ‘n radikaal nuwe sisteem vir die regulering van uitkerings van 'n maatskappy aan sy aandeelhouers. Die voorkeur metode om die belange van skuldeisers in uitkerings te beskerm, is nou op ‘n solvensie- en likwiditeittoets gebaseer. Ongelukkig is die wetlike bepalings wat die vereistes vir uitkerings aan die een kant uiteensit, en die solvensie en likwiditeit toets aan die ander kant, swak opgestel. Hierdie tesis verduidelik eerstens die bepalings, en pas dan 'n innoverende interpretasie teorie op hierdie bepalings toe, met die doel om 'n samehangende inhoud daar te stel. Die tesis bevind dat kreatiewe interpretasies op verskeie plekke nie voldoende sal wees nie. Dit beteken dat substantiewe hersiening noodsaaklik is. Ten slotte bied die tesis kortliks wysigings-voorstelle met meegaande kommentaar. 2015-05-20T09:29:51Z 2015-05-20T09:29:51Z 2015-03 Thesis http://hdl.handle.net/10019.1/97133 en_ZA Stellenbosch University 141 pages ; illustrations application/pdf Stellenbosch : Stellenbosch University |
| spellingShingle | Companies -- Shareholders -- Regulations Company liquidity -- Law and legislation Company insolvency -- Law and legislation UCTD South Africa -- Companies Act, 2008. South Africa -- Companies regulations Business enterprises -- Law and legislation -- South Africa Van der Merwe, Constant Pieter Reconsidering Distributions: A Critical Analysis of the Regulation of Distributions to Shareholders in the Companies Act of 2008, with Special Reference to the Solvency and Liquidity Requirement |
| title | Reconsidering Distributions: A Critical Analysis of the Regulation of Distributions to Shareholders in the Companies Act of 2008, with Special Reference to the Solvency and Liquidity Requirement |
| title_full | Reconsidering Distributions: A Critical Analysis of the Regulation of Distributions to Shareholders in the Companies Act of 2008, with Special Reference to the Solvency and Liquidity Requirement |
| title_fullStr | Reconsidering Distributions: A Critical Analysis of the Regulation of Distributions to Shareholders in the Companies Act of 2008, with Special Reference to the Solvency and Liquidity Requirement |
| title_full_unstemmed | Reconsidering Distributions: A Critical Analysis of the Regulation of Distributions to Shareholders in the Companies Act of 2008, with Special Reference to the Solvency and Liquidity Requirement |
| title_short | Reconsidering Distributions: A Critical Analysis of the Regulation of Distributions to Shareholders in the Companies Act of 2008, with Special Reference to the Solvency and Liquidity Requirement |
| title_sort | reconsidering distributions a critical analysis of the regulation of distributions to shareholders in the companies act of 2008 with special reference to the solvency and liquidity requirement |
| topic | Companies -- Shareholders -- Regulations Company liquidity -- Law and legislation Company insolvency -- Law and legislation UCTD South Africa -- Companies Act, 2008. South Africa -- Companies regulations Business enterprises -- Law and legislation -- South Africa |
| url | http://hdl.handle.net/10019.1/97133 |
| work_keys_str_mv | AT vandermerweconstantpieter reconsideringdistributionsacriticalanalysisoftheregulationofdistributionstoshareholdersinthecompaniesactof2008withspecialreferencetothesolvencyandliquidityrequirement |