Since 1 January 2013, section 19 of the Income Tax Act, 1962 (the “Act”) and paragraph 12A of the Eighth Schedule to the Act (the “Eighth Schedule”) have determined the tax implications where a debt owing by a taxpayer is cancelled, waived, forgiven or discharged for no consideration (or for consideration that is less than the amount of the debt) ...
Amendments to Zimbabwe’s controversial Indigenisation and Economic Empowerment Act, Chapter 14:33 (the “Act”), were gazetted on 14 March 2018. These far-reaching changes, first announced in the 2018 Budget in December 2017, should pave the way for foreign investors wishing to establish operations in the country and boost the economy ...
With the advent of the Construction Regulations, 2014 (the “regulations”), which are binding in terms of the Occupational Health and Safety Act, 1993 (“OHASA”), additional duties are now placed on the “client” that did not exist under the previous regulatory regime. For example, the client now assumes the duty to prepare a baseline risk assessment for a construction work project and, depending on the factual circumstances, to apply for a construction work permit ...
A group of 50 striking employees confront their manager in his office. An altercation ensues, which culminates in the manager being violently assaulted. Only five of the striking employees are caught “red-handed”, having been identified as the perpetrators of the violent assault. The rest are only identified as having been there when the assault took place ...
The advent of streaming video on demand platforms (SVOD) has made access to virtual content relatively easy. As a matter of fact, it is one of the many benefits that comes with the internet and technological evolution. However, when sharing or transmitting virtual contents to consumers or subscribers, these platforms must ensure that the appropriate licences are obtained from holders of intellectual property rights to avoid claims of infringement ...
There’s an interesting trade mark case brewing in Australia, one that has some useful trade mark lessons.Online retail giant Amazon is opposing a trade mark application filed in 2015 by an Australian clothing retailer, Live Clothing, to register the trade mark Glamazon for retail services, including those relating to clothing. On the face of it, this case looks like an absolute “slam-dunk” for Amazon. This case is, however, far from clear ...
In July 2016, the South African Department of Trade and Industry (the “DTI”) published, and invited public comment on, its Intellectual Property Consultative Framework (the “IPCF”). The IPCF reflects the DTI’s views on South Africa’s IP policy position in the form of a consultative instrument ...
On 25 May 2021, the Central Bank of Nigeria (“CBN”) issued a circular to deposit money banks, payment service providers and other financial institutions notifying them of the release of the Regulatory Framework for Non-Bank Acquiring in Nigeria (“the Framework”). In this article, our Olubusola Oyeyosola Diya examines the provisions of the Framework and considers its impact on financial service providers ...
The global financial crisis, which originated in the United States, had a major impact on the world economy and the economic recovery prospects of developed countries. As the countries with the most active economic growth in the world, BRICS countries (Brazil, Russia, India, China and South Africa) face a great challenge. They need to adjust their development strategies when facing the new challenge in order to achieve rapid and sustainable economic development ...
In 2014, a South African court convicted Paralympian Oscar Pistorius of culpable homicide (manslaughter), following the shooting of his girlfriend Reeva Steenkamp, and he was given a custodial sentence of five years. The conviction was later replaced with one of murder and his sentence increased to six years imprisonment ...
Angolan Central Bank (Banco Nacional de Angola, “BNA”) recently published Notice 10/22 of 6 April to update the scope of application of Notice 10/20 of 3 April on the granting credit to the real sector of the economy. The new Notice establishes (i) the terms and conditions applicable to the this type of credit, (ii) the minimum requirements in terms of number and total value and (iii) the treatment in the calculation of the reserve requirements ...
We publish the new edition of the newsletter on Banking and Finance, Capital Markets and Insurance Law in Angola for the 2nd quarter of 2022 brings together the most significant new developments in these areas. In this newsletter, you can find legislative news regarding the National Bank of Angola, President of the Republic, Government/Parliament and CMC ...
Angolan Central Bank (Banco Nacional de Angola, “BNA”) Notice no. 9/22 of 6 April was recently published to establish special schemes for mortgage credit and construction credit. The Notice is binding on banking financial institutions of systemic importance in the domestic market and optional for other banking financial institutions ("Commercial Banks") ...
Note on Circular Letter No. 002/DCC/2020 With the approval of Notice No. 2/2020, of January 2020 (“Notice 2/2020”), the National Bank of Angola (“BNA”) introduced a greater flexibility in the foreign exchange sector, as it eliminated prior licensing and delegated on commercial banks the validation of the operations. With the publication of the Circular Letter No ...
There’s seemingly no end to the question of whether or not Nestlé can register the four-finger shape of its Kit Kat chocolate bar as a trade mark.Except, of course, in South Africa, where we know that it can. We know that because the South African Supreme Court of Appeal came to that conclusion in 2014 ...
Another day, another failed colour trade mark application. But there may be some lessons to be learned from a recent Australian decision. The quest to monopolise colour goes on, and we have written on this topic on several occasions. In the latest Australian case on colour trade marks, Frucor Beverages Limited, manufacturer of an energy drink called V, applied to register the colour green as a trade mark for its energy drinks ...
In light of the recent Adjusted Alert Level 4 restrictions, the TERS has officially been extended once again for certain affected employees. The new claim period is from 16 March 2021 to 25 July 2021. Applications for the extended TERS benefit opened on 19 July 2021 and payments are due to commence from 26 July 2021 ...
The Anton Piller order is an extraordinary thing. It’s essentially an evidence-preserving legal mechanism. It allows a party that feels that their rights are being infringed to approach the court as a matter of urgency and without notice to the alleged wrongdoer for an order sanctioning a raid of the premises of the alleged wrongdoer in order to find and preserve evidence that it believes will otherwise be destroyed ...
Are the two trade marks confusingly similar? It’s the question that’s most commonly asked in trade mark law. The issue of confusion can arise in the context of registration: should the trade mark be registered in the face of the earlier trade mark? It can also arise in the context of use: does the trade mark that’s being used infringe the registered trade mark? The two cases that we will consider here both involve registration ...
he office of the South African Information Regulator recently published its first draft regulations in terms of the Protection of Personal Information Act, 2013 (“POPI”), entitled “Regulations relating to the Protection of Personal Information, 2017”. The draft regulations are open for public comment until 7 November 2017 ...
