Dear Clients A shareholder’s rights of pre-emption, or pre-emptive rights as they are more commonly referred, in essence refers to a shareholders right of first refusal to be offered another shareholders shares in the event that such shareholder should wish to dispose of his / her shares. By way of example, if a shareholder should […]

Dear Clients Family Trusts have come under increasing scrutiny by the Broad-Based Black Economic Empowerment (“B-BBEE”) Commission (“the B-BBEE Commission”) who seem to take a dim view on Trusts when it comes to claiming black ownership recognition under the B-BBEE Act and B-BBEE Codes of Good Practice (“the Codes”). For those who are not familiar […]

Dear Clients As you are all aware, as of 31 December 2020 commercial fishing rights allocated in terms of section 18 of the Marine Living Resources Act 18 of 1998 (MLRA) in the following sectors expired and have reverted back to State: Hake Deep Sea Trawl, Small Pelagic, South Coast Rock Lobster, KZN Prawn, Hake […]

MINISTER OF ENVIRONMENT, FORESTRY AND FISHERIES : FRAP “POLICY PICKLES”   Introduction   With the recent notice granting exemptions to existing rights holders (whose rights expire at the end of 2020) to continue fishing for the year 2021, the focus of Minister Creecy and her team at DEFF, should fall squarely on getting FRAP 2021 […]

INTRODUCTION It would appear that Department of Environment, Forestry and Fisheries (DEFF) and its Minister are already behind on their most recent timeline for FRAP 2020/21. The latest official notification regarding the FRAP 2020/21 rights allocations was published by the Minister of Environment, Forestry and Fisheries (the Minister) on 26 June 2020 setting out the […]