South Africa's Companies Act amendments start, with faster changes to company constitutions
Parts of South Africa's Companies Amendment Act 16 of 2024, and all of the Companies Second Amendment Act 17 of 2024, came into force on 27 December 2024. An amendment to a company's memorandum of incorporation (MOI) now takes effect ten business days after the Companies and Intellectual Property Commission (CIPC) receives the notice, unless the CIPC endorses or rejects it sooner. Public companies must also present social and ethics committee reports at their AGMs.
The two amendment acts were signed in July 2024. The President brought the Second Amendment Act and some sections of the first act into force on 27 December 2024. The rest followed later.
What changed
- MOI amendments: an amendment takes effect ten business days after the CIPC receives the notice of amendment, unless the CIPC endorses or rejects it with reasons before then, or on a later date set out in the notice. It cannot be backdated.
- Social and ethics committee: public and state-owned companies must present the committee's report at the AGM, and committee appointments need approval.
- Other changes: clearer rules on financial assistance to subsidiaries and on the appointment of auditors.
Who is affected
South African companies, and company secretaries who file MOI amendments with the CIPC.
Later developments
The remuneration disclosure and voting rules came into force on 22 May 2026. See our coverage.