South Africa has no specialised business law practitioners to deal with company law, Trade and Industry Minister Rob Davies said on Tuesday.
“We don’t have specialised lawyers, judges, and litigators to tackle business law,” he said at a company law symposium in Johannesburg.
The symposium was examining, among other things, the Companies Act.
Davies said the act had brought real benefits for company registration.
“The law itself makes registration easier and quicker.”
He was hopeful the symposium would afford those attending the opportunity to exchange views on company law, business rescue processes, and takeovers and mergers.
Among those present was former top US judge Myron Steele of the state of Delaware.
He spoke about takeovers, mergers, and fundamental transactions, and what could be done in anticipation of takeovers and mergers.
He gave an example of Delaware law, where a shareholder could put a stop to the sale of a company by approaching the courts if he or she was unhappy with certain aspects of the process.