Sharia Compliant Financing Arrangements

In Albaraka Bank Ltd v Halaal Royal Snacks (Pty) Ltd, the court emphasized that, “there is nothing intrinsically wrong, unlawful or contrary to public policy in banking transactions being entered into according to the Sharia law[/Islamic Law].”[1] The court went on to point out that, “banking transactions according to Sharia law is a rapidly growing…

Poor Work Performance vs Misconduct

A dismissal is unfair if it is not effected for a fair reason (substantive fairness) and in accordance with a fair procedure (procedural fairness).[1] There are three grounds on which a termination of an employee might be legitimate, namely conduct, capacity and operational requirements.[2] The Code of Good Practice provides for guidelines relating to dismissals…

Business Rescue Proceedings

Following the commencement of the Companies Act 71 of 2008 (hereafter referred to as the “Act”),[1]  Business Rescue Proceedings have been introduced as a mechanism to assist with the rescue and recovery of financially distressed companies in such a manner that it balances the rights and interests of all relevant stakeholders.[2] The purpose of this…

Striking an Agreement Before Striking Gold

Following the commencement of the Mineral and Petroleum Resources Development Act[1] (MPRDA) in 2004, the State is now the custodian of the mineral and petroleum resources in South Africa.[2] As such, the Minister of Mineral Resources is empowered to grant prospecting rights and mining rights after certain statutory requirements have been satisfied. One such requirement…

Blacklisting: How to legally blacklist consumers

Although not defined in the National Credit Act 34 of 2005 (the Act), nor in the Regulations thereto, “blacklisting” is a far too familiar concept to most South African consumers and businesses. “Blacklisting” can be defined as the submission of negative payment information to a registered credit bureau. (LS Crawford v JD Group Limited 2015)…