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How to Register a New Company in South Africa(New Company Act)

This is an extract from CIPC website.

New Company Registrations

A company is incorporated by the lodging of the following main forms:

For more information on customer registration and the required supporting documentation, click here.

Memorandum of Incorporation (MOI)

The most important document governing a company is the MOI, which is a consolidation of the current Memorandum and Articles of Association of a company. The Act imposes certain specific requirements on the content of a Memorandum of Incorporation, as necessary to protect the interests of shareholders in the company, and provides for a number of default company rules / alterable provisions, which companies may accept or alter as they wish as long as it is in line with the Companies Act. 

Alterable provisions within the Companies Act, 2008:

  • A company has all the legal powers and capacity of an individual, except to the extent that
    • A juristic person is incapable of exercising any such powers, or having any such capacity; or
    • The company’s MOI provides otherwise (e.g. the MOI may state that no director may contract on behalf of the company in his/her own capacity).
  • Private, non-profit and incorporated companies may elect to comply with the extended accountability requirements of Chapter 3 of the Act (Sect 34(2));
  • Shares within the same class has the same rights, limitations and terms, unless the MOI provides otherwise (Sect 37(1));
  • MOI may exclude the right of first refusal of current shareholders of a private company in respect of shares issued by the company (Sect 39(3);
  • MOI may forbid the board to render financial assistance to parties wanting to acquire shares in the company (Sect 45(2);
  • MOI may provided for longer minimum notice periods for meetings;
  • Electronic notice and electronic participation in meetings are allowed unless MOI prohibits it (Sect 63(2);
  • Companies may determine a higher number of minimum directors than what the Act prescribes (Sect 66(2).

Unalterable provisions are provisions of the Act which the company may not change, such as directors’ duties and responsibilities and enhanced accountability requirements for public and state owned companies. In instances where the MOI is in conflict with the Act, the Companies Act will prevail. In addition, the Act allows for companies to add provisions to address matters applicable to that company, not addressed in the Act itself, but all provisions of the MOI must be consistent with the Act. 
The Memorandum of Incorporation CoR 15.1A-E (whichever is applicable) contains the following information:

  • Detail of Incorporators
  • Number of directors and alternate directors
  • Share capital (maximum issued)
  • Content of MOI

The Notice of Incorporation (CoR 14.1), which must be lodged together with CoR 15.1 contains the following information:

  • Type of company
  • Incorporation date
  • Financial year end
  • Registered address (main office)
  • Number of directors
  • Company name
    • Whether company name will be the registration number;
    • The reserved name and reservation number;
    • List of 4 (four) names to be checked by the Commission.

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Interview Tips

Advice on getting the Interview


Getting an interview for a position you have applied for is not as easy as it sounds. Below are a few basics to increase your chances of getting a call back from the company you would like to work for.

  • Keep your CV updated and concise. Mention the critical learning’s from each job and how long the position was held for.
  • Spelling and Grammar are important Use spell check, proof read your CV, get a second opinion. Make your first impression a lasting one and increase your chances of getting that interview
  • Resume formatting does not have to be stayed. You can keep your individuality and still make your CV look professional. The norm is to keep it chronological, informative without being too drawn out.
  • Do not embellish your CV. You can elaborate on your experiences but you must be able to substantiate your experiences and skills.
  • When sending your CV to apply for a position, personalize the company and contact name for each application you send through. The employer will not look kindly on generic blanket applications.
  • The reality is that you can be under or over qualified for a position. If you are under qualified do not feel offended if the company does not want to spend resources on training you, there will be another opportunity down the road. Be realistic about your skill set and target positions where there could be a potential match. Being overqualified also has it challenges. A company could be concerned with whether you will be satisfied with the position and stay for a long term. Be honest with yourself. Jumping around on your CV makes employers nervous.
  • Follow up. Make the call; companies could not be getting back to you because they have been sidetracked. There is nothing wrong following up and finding out additional information on the position.
  • Be patient, finding a job takes time in the current market. Do not get despondent.
  • Register your CV updated on job portals. Agency and companies use this resource to find candidates from the current talent pool.
  • Use a litmus test in the back of your mind when applying for a position, is this a position you could really see yourself in day in and day out? Be true to yourself

 

Good luck with your Interview, if you require any tips please do not hesitate to contact Talent Fusion.


Interview Mistakes to Avoid


Interviews are the most nerve-wracking part of the hiring process for most people, because no longer can you let your resume and cover letter do the talking, but you actually have to meet with the potential employer face-to-face. But you can learn from the mistakes of others to impress your interviewer and get that offer. 

Here are mistakes to avoid during an interview:

Arriving late or too early – This will be the first impression you give the employer, so make sure you arrive to your interview on time. Look up the directions to the company the night before to determine the best route, how long the commute will take and when you need to leave in order to arrive on time, allowing some wiggle room in case there is traffic. Also avoid arriving more than 10 minutes early, so that your interviewer doesn't feel rushed to meet you.

Dressing inappropriately – Companies have different dress codes, but in general, plan to dress professionally and conservatively, unless you're interviewing for a fashion job. You can also do a little research to find out what is acceptable dress for your industry, or give the company a call to ask the receptionist what people wear in the office. 

Answering your cell phone during the interview – This is one of the biggest mistakes you can make in an interview, and shows you have poor manners. Turn your cell phone off or to silent before your interview starts, or even better—before you walk in the door.

Asking what the company does – By the time you're interviewing with a company, you should not only know what the company does, but its products or services, competitors and other key information. Demonstrate your knowledge about the company and industry to show your enthusiasm, rather than "winging" it—which only showcases your lack of preparation.

Bad-mouthing anyone or being negative – Even if you had a terrible manager or you disagreed with the direction of the company, do not speak negatively about your previous employer or anyone else. Your interviewer won't want to hire someone who comes off as a complainer, and they might believe you'll talk badly about them down the line as well. 

Asking about compensation/benefits – Wait for the interviewer to bring up the topics of pay and benefits. You want to prove that you're the best candidate for the job before you start talking pay, to show that you're genuinely interested in the position and company and not just the money.

Lying – Never lie in an interview about your past experience or qualifications. The employer will find out eventually that you don't know as much as you said you did, and chances are, won't hesitate to let you go and bring someone in who actually can do the job. 

Not asking questions – An interview is a two-way street; you are interviewing the company as much as they are interviewing you. Ask good questions to determine whether this job or company is a good fit. And you don't have to wait until the end of the interview to speak up—if you have a question in line with the conversation, ask it then.

Being unable to articulate your achievements – As you prepare for your interview, think about how your past experience and achievements relate to the job you're interviewing for. You will need to demonstrate how you are the best person for the job.

By avoiding these mistakes, you'll increase the chances of being asked in for a second interview. Good luck!

 

 

 

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