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Masters Degrees (Business Law)

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Browsing Masters Degrees (Business Law) by Author "Badul, Chantal Jacqueline."

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    A critical discussion of the 'pay now argue later’ rule in South African tax law.
    Muyonjo, Amanda Elizabeth.; Badul, Chantal Jacqueline.; Subramanien, Darren Cavell.
    The process of tax recovery is a significant and necessary one. However, it is also fraught with complexities and controversy. The State has enacted laws to facilitate the efficient collection of taxes. When it comes to the various stringent tax laws in the South African tax system aimed at ensuring the efficient collection of taxes, the ‘pay now, argue later’ rule is certainly a contender. The practical impact of the rule is that neither the noting of an objection nor an appeal suspends a taxpayer’s pre-existing obligation to pay tax. The provisions of the Tax Administration Act 28 of 2011 contain wide powers that are conferred upon the South African Revenue Service (SARS). These provisions in conjunction with the rule are the catalysts through which taxpayers’ co-operation with SARS is achieved. It is therefore not surprising that the State may enact and execute its laws in a manner so as to effectively achieve its tax collection mandate, whilst not having sufficient regard to the rights of taxpayers. The purpose of this mini dissertation is to engage in a critical discussion of the ‘pay now, argue later’ rule and to show the need to ameliorate the effect of the powers bestowed upon SARS in order to ensure better protection of taxpayers’ rights. There is a need to create better awareness of taxpayers’ rights and for tax legislation to be a lot more understandable and unambiguous in the interest of creating certainty for taxpayers, SARS and the courts.
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    A discussion of the success and failures of business rescue as a remedy for ailing companies.
    (2018) Sobantu, Vuyo.; Subramanien, Darren Cavell.; Badul, Chantal Jacqueline.
    Companies are constantly facing risks, including financial constraints, which may contribute to companies being unable to trade in the manner desired. Unfortunately, companies that find themselves in this predicament have, in reality, been without a remedy from as early as statutory provisions regulating company law were promulgated in 1926. Judicial management, as a remedy, is notorious for being an outright failure, but the current Companies Act 71 of 2008 introduced the remedy of business rescue for financially distressed companies. The scrutiny and spotlight on the new remedy turns on whether it can be truly accessible for the companies in question and what significant changes it has made to favour financially distressed companies. This mini dissertation will aim to discuss whether the remedy of business rescue has been a success or failure.
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    The effects of business rescue on the companies’ stakeholders : a comparative analysis between business rescue and judicial management.
    (2018) Xaba, Ntombikhona Thandeka.; Subramanien, Darren Cavell.; Badul, Chantal Jacqueline.
    Upon the recognition that the implementation of the judicial management process would not be the success that it was anticipated it would be, it became apparent that there was need for a system of corporate rescue appropriate to the needs of a modern South African economy. The legislature then introduced a new business rescue regime when the Companies Act 71 of 20082 (the Act) came into effect in the South African law. This new Act remarkably changed corporate law. One of the central features of the Act is the introduction of business rescue- a procedure which provides for the rehabilitation of financially distressed companies in a manner that seeks to balance the rights of all stakeholders. These provisions are said to be the appropriate method for modern South African economy and they differently affect the stakeholders of a company. This thesis will be discussing the different rights given to affected persons in the new Companies Act and examine how the provisions of business rescue affect different stakeholders of the company and compare such effects with those experienced under judicial management, specifically in light of the improvements of the positions of the stakeholders. Although the new business rescue is a remarkable improvement from the old judicial management system, there is still room for improvement.