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The first South African company legislation was the Companies Act [3] of 1926, which was based on the Transvaal Companies Act, [4] which was in turn based on the British Companies (Consolidation) Act 1908. The next major South African legislation in this area was the Companies Act [5] of 1973, which remained in force until 31 April 2011.
The Companies and Intellectual Property Commission (CIPC) is an agency of the Department of Trade, Industry and Competition in South Africa. [1] The CIPC was established by the Companies Act, 2008 (Act No. 71 of 2008) [2] as a juristic person to function as an organ of state within the public administration, but as an institution outside the public service.
The word "incumbent" is derived from the Latin verb incumbere, literally meaning "to lean or lay upon" with the present participle stem incumbent-, "leaning a variant of encumber, [1] while encumber is derived from the root cumber, [2] most appropriately defined: "To occupy obstructively or inconveniently; to block fill up with what hinders freedom of motion or action; to burden, load."
In July 1993, the Institute of Directors in South Africa asked retired Supreme Court of South Africa judge Mervyn E. King to chair a committee on corporate governance. He viewed this as an opportunity to educate the newly democratic South African public on the working of a free economy. [4]
A South African general election was held on 29 May 2024 to elect the 28th Parliament of South Africa. [1] [2] Support for the incumbent governing party, the African National Congress (ANC), significantly declined in the election; the ANC remained the largest party but lost its majority in the National Assembly for the first time since the inaugural post-apartheid election in 1994. [3]
In South Africa the Department of Public Enterprises is the shareholder representative of the South African Government [1] with oversight responsibility for state-owned enterprises in key sectors. Some companies are not directly controlled by the Department of Public Enterprises, but by various other departments.
An incumbent local exchange carrier (ILEC) is a local telephone company which held the regional monopoly on landline service before the market was opened to competitive local exchange carriers, or the corporate successor of such a firm.
The Chief Whip of the Majority Party is an official office bearer in the National Assembly of South Africa. As of June 2024 [update] , Mdumiseni Ntuli of the African National Congress (ANC) serves as the Chief Whip of the Majority Party, replacing Pemmy Majodina , who was only the second woman to hold the office.