Corporate laws go digital

Charged has an article about legislation that was tabled in Parliament recently. The Corporate Laws Amendment Bill (No. 6 of 2006) will, when passed, facilitate the digital filing of notices, corporate information and the digital certification of registration documents:

An amendment to South Africa’s corporate laws, tabled in Parliament recently, provides for the use of electronic signatures, the online registration of companies and close corporations and the electronic lodgement of corporate notices and forms.

According to technology lawyer, Reinhardt Buys of Buys Inc. Attorneys, the Corporate Laws Amendment Bill 6 of 2006 is a giant leap towards effective e-government and a true paperless regulatory environment for local businesses.

The Bill also seeks to amend both the Companies Act, 1973, and the Close Corporations Act, 1984, so as to enable electronic disclosure of corporate information, cost-effective ways of publishing notices of incorporation and electronic certification of registration documents.

This is quite exciting legislation because it could bring digital filings into the mainstream through business and, in the process, make out a strong case for digital filings in other areas to improve efficiency and reduce the costs associated with paper filings. One area which could benefit from digital filings is our court system.

(via Buys Incorporated)

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