Provision of section 58a and applicability to private co. The important provisions of the rules are summarised as under. The namibian companies act 28 of 2004, amended 2011, contains a numberof provisions that will directly impact all companies, directors and officers. All domestic listed companies in namibia are required to comply with ifrss effective 1 january 2005 under the requirements of the namibian stock exchange act. This an act to consolidate and amend the law relating to companies. Deloitte namibia changes to the 2004 companies act made. Companies act 28 of 2004 legal assistance centrenamibia. The companies act, 20 passed by the parliament has received the assent of the president of india on 29th august, 20. Changes that have been made appear in the content and are referenced with annotations. An application, in terms of section 491 of the act, for the registration of a shortened form of a name of a company must be lodged with the registrar on form. The council of the municipality of windhoek has, under section 941 of the local authorities act, 1992 act no.
The namibian companies act, act 28 of 2004 the act contains a number of provisions that will directly impact all companies, directors and officers. Most of the amendments made, however, relate to a modernisation of the act with wording amendments, from south west africa to namibia, to remove gender bias, to include namibian legislation. Companies act 28 of 2004 companies administrative regulations, 2010 6 subregulation 1 applies, with necessary changes, to the binding of a document translated in terms of subregulation 5, where that document contains more than one sheet of paper. Communications act, 2009 published as general notice no.
The heading of section 5 in the text of the act is seal of the registration office. In exercise of the powers conferred by section 58a read with subclauses a and b of sub section 1 of section 642 of the companies act, 1956 1 of 1956, the central government, in consultation with the reserve bank of india, hereby makes the following rules further to amend the companies acceptance of deposits rules, 1975, namely. Signed by the president as amended by act to provide for. Please verify this registration by opening the link. And whereas the provisions of section 55a, section 111 and section 111a of the companies act, 1956 1 of 1956 which correspond to section 24, section 58 and section 59 of the said act confer abovesaid powers on the company law board constituted under the companies act. In terms of section 452 of the companies act, 2004 act no. Hits of jurisdiction act n2 3 of 1990 territorial sea and exclusive economic zone of namibia act, 1990 be it eactedby the national assembly of the republic of namibia.
Act to consolidate and amend the law relating to companies. Act dealing with public companies, other than those provisions pertaining to the shares or share capital of a company, apply. The communications regulatory authority of namibia, in terms of section 80 read with section 129 of the communications act, 2009 act no. Administratorgeneral for state president territory for republic, except in sections 92, 1412a, 142, second provisio to section 1751 and section 314. Provisions related to acceptance of deposit by companies u.
The nta will act as a collecting agent and will be responsible for the administration of the vet fund in namibia. There are changes that may be brought into force at a future date. Companies act 28 of 2004 act legal assistance centre. Section 1 of the companies act defines a director as including any person. In exercise of the powers conferred by section 58a read with subclauses a and b of subsection 1 of section 642 of the companies act, 1956 1 of 1956, the central government, in consultation with the reserve bank of india, hereby makes the following rules further to amend the companies acceptance of deposits rules, 1975, namely. Namibia refugees recognition and control act, act no. As per the provisions of section 58a of the companies act, 1956. You may have offered your employees access to the companys holiday house. Representation of company or other body corporate at certain meetings. To provide for the incorporation, management and liquidation of companies. An act to make provision about competition and the abuse of a dominant position in the market.
Calculation of remuneration and basic wages 1 this section applies when, for any purpose of this act, it is necessary to determine the applicable hourly, daily, weekly or monthly rate of pay of an employee a whose remuneration is based on a different time interval. Deloitte namibia changes to the 2004 companies act made in 2011. For some time the receiver of revenue has been extremely concerned about the erosion of the namibian tax base by multinational companies who. Amendments to the customs and excise act of namibia.
Namibia newsletter special edition january 2016 new tax legislation value added tax amendment act on 29 december 2015 the vat amendment bill act 12 of 2015 was published in the government gazette and thus making the previously proposed changes effective on 1 january 2016. Birth, marriage and death registration act, act no. The companies act, 20 has been notified in the official gazette on 30th august, 20 but the provisions of this act shall come into force on such dates as the central government may notify in the. The central government may, in consultation with the reserve bank of india, prescribe the limits up to which, the manner in which and the conditions subject to which deposits may be invited or accepted by a company either from the. Most of the amendments made, however, relate to a modernisation of the act with wording amendments. The namibian companies act 28 of 2004, amended 2011, contains a numberof provisions that will directly. Unlisted namibian companies have the option to use ifrss or namibian gaap. Namibia qualifications authority act, 1996 the minister has, under section 14 of the namibia qualifications authority act, 1996 act no. Be it enacted by the parliament of the republic of namibia, as follows. An application submitted under section 58a 8 of the companies act, 1956 should be in accordance with the companies application for extension of time or exemption under subsection 8 of section 58a rules, 1979 and be accompanied by the following. Section 58a of companies act, 1956 has put restrictions on acceptance of deposits by any company subject to rules being prescribed. Section 21 companies in existence before 1 november 2010 are deemed to comply with the requirements of. Companies act 2006, section 434 is up to date with all changes known to be in force on or before 10 april 2020.
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