1. COMPANY LAW
We expect a revised draft of the Companies Amendment Bill will be published and tabled in Parliament early this year. The revised amendments may come into force this year.
2. BLACK ECONOMIC EMPOWERMENT
We expect a panel will be appointed to provide a report on ways to address critical issues related to B-BBEE to ensure the appropriate changes are made to minimise exploitation of the B-BBEE provisions and ensure that broad-black ownership strengthens the transformation of the economy.
3. TRADE ACROSS AFRICA
Although trading under the African Continental Free Trade Area was due to start in 2021, this has not been the case. As of February 2022, 41 of the 54 signatories have deposited their instruments of rati cation. Negotiations to nalise the rules of origin took place in January 2022. The Pan-African Payment and Settlement System was also launched in January 2022 – the system aims to save currency convertibility costs. South Africa and other member states will continue to work towards implementing the AfCFTA.
Land expropriation will remain a hot topic, although the Expropriation Bill is unlikely to be passed as the country is still dealing with the pandemic.
The Property Practitioners Act, 2019 (assented to on 19 September 2019) and accompanying regulations (published on 14 January 2022) commenced on 1 February 2022. Given the short time frame between the publishing of the regulations and the commencement of this Act, the property market is under severe pressure to comply with the Act or face punitive measures.