Commencement of the Companies Amendment Act, 2024 -Cox Yeats Attorneys

On 22 May 2026, the President signed a proclamation determining that Sections 5, 6 and 19 of the Companies Amendment Act comes into effect.

Section 5 amends Section 30(4) by stipulating that if a company’s financial statements need to be audited, then they must include particulars showing the benefits received by each director and each prescribed officer.

Section 6 provides for the inclusion of a new Section 30A to stipulate that all public companies and State owned companies must present, for approval, a remuneration policy.  The remuneration policy must be approved by shareholders at a shareholder meeting.

Section 19 provides an alternative to applying for relief to a court or filing a complaint with the Company Commission. Instead, a person may now refer a matter for resolution by mediation, conciliation or arbitration.

Important: This summary is for informational purposes only and does not constitute legal advice. It should not be relied upon as a substitute for specific legal guidance.

For further information or tailored advice, please contact Michael Jackson, Partner at mjackson@coxyeats.co.za | +2731 536 8512 | +2782 808 7891 or Ross Booth, Senior Associate at rbooth@coxyeats.co.za | +2731 536 8575 | +2772 536 1975

Commencement of the Companies Amendment Act, 2024 -Cox Yeats Attorneys