Companies act 28 of 2004 legal assistance centrenamibia. Republic of namibia namibia qualifications authority. In this article we have given all the reference books and book authors and topics and contents about the book the companies act 20. The act consolidates and amends the law relating to companies. Deloitte namibia changes to the 2004 companies act made. The ncc informed operators about its decision to amend retail prices and enforce a price cap. Of the republic of namibia contents page government notice. I republic of namibia namibias fourth national development plan 2012 to 201617 changing gear towards vision 2030 windhoek july 2012. Section 1 of the agricultural commercial land reform act, 1995 hereinafter referred to as the principal act, is hereby amended a by the substitution for the definition of alienate of the following. Harnessing namibias manufacturing and exporting potential. Promulgation of income tax amendment act, 20 act no. Issue price of shares of no par value requiring special resolution.
Namibia is working to harmonise national gaap with ifrss by 31 december 2007. For purposes of the epz, a separate new business outfit needs to be established with its own. New investment act to bring wholesale changes the namibian. Namibia publishes regulations under the biosafety act. The taxable income of external companies is computed in the same way as for local companies. We regularly receive queries pertaining to the duties of a director in terms of namibian law. Contract of employment namhr namibia namibian human.
Section 210 of companies act, 20 investigation into. Different provisions of the companies amendment act, 2017 including any amendments, references in any provisions there in, shall come into force on such date or dates as the central government may, by notification in the official gazette appoints. The new investment act anticipated to come into force in november is expected to bring about fundamental changes to the countrys trade and investment arena. Legal analysis of farmland expropriation in namibia. Section 63 of the companies act stipulates that the memorandum and articles of association must be filed and. No 294 2012 close corporations act amendment of the regulations under the close corporations act, 1988 amendments to. Companies act in pdf is available for students and professionals. Namibia has published regulations relating to the development, production, marketing, transport and application of genetically modified organisms and specified products derived from genetically.
No 307 2012 competition act determination of threshold of annual turnover or value of assets below which part ii of chapter 3 of competition act, 2003. The term director has been defined in the namibian companies act 28 of 2004 the companies act. Investigation into affairs of company effective from 1st april, 2014 1 where the central government is of the opinion, that it is necessary to investigate into the affairs of a company, a on the receipt of a report of the registrar or inspector under section 208. We have highlighted some portions of a letter from mihe gaomab ii, secretary and chief executive of the namibian competition commission, which explores some of the provisions and rights contained.
The companies act 20 pdf book is free and available here to download. Companies act 28 of 2004 act legal assistance centre. Namibias constitution of 1990 with amendments through 2010. A brownfield project or company which is already operational and is involved in manufacturing and exporting or plans to export, can not be converted into an epz enterprise. Ebook on companies act 20 in pdf april 2020 edition. The financial institutions and markets bill, 2012 to consolidate and harmonize the laws regulating financial institutions and financial markets in namibia. The companies act, 20 has been notified in the official gazette on 30th august, 20.
Conferment of status of founding father of the namibian nation act, 2005 act no. Companies act 2004 companies amendment act act no 9 of 2007 competition act 2003 act no. 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. Unlisted namibian companies have the option to use ifrss or namibian gaap. Namibias foreign investment act guarantees foreign investors treatment equal to that given to namibian firms, fair compensation in the event of. Provides for the incorporation, management and liquidation of companies.
The tax year is the same as the financial year of the company. In this regard, the government has taken a number of positive steps to establish a system and environment conducive to foreign investment. 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. The following act which has been passed by the parliament and signed by the president in terms of the namibian constitution is hereby published in terms of article 56 of that constitution.
Companies act 28 of 2004 gg 3362 brought into force on. Legal analysis of farmland expropriation in namibia dr christina treeger may 2004 1 introduction 2 the right to property article 16 1 of the namibian constitution 3 expropriation for public interest article 16 2 of the namibian constitution 3. Namibia name of company katla seafood namibia proprietary limited the end of the current financial year is 28 february 20. President in terms of the namibian constitution is hereby published in terms of. Tax liabilities are calculated on a selfassessment. The officewill be open to the public from mondays to fridays from 09. Signed by the president on 27 september 2002 be it enacted by the parliament of the republic of namibia as follows. Republic of namibia namibias fourth national development. Companies offering voice services are required to have a licence to operate. Does not apply to, as set out in the schedule published. This is usually associated with a question pertaining to the possible liability of a namibian director.
Signed by the president as amended by act to provide for. Namibian labour act 2007, relevant codes of good practices, etc. The current rate of corporate income tax is 34% commencing on or after 1 january 2009. New derivative action under the companies act, the. Application for retail licence regulation 41 please note that where this form is completed by hand it must be completed in capital letters and that all documents requested in terms of regulation 42 must be attached. Most of the amendments made, however, relate to a modernisation of the act with wording amendments. The companies act, 20 passed by the parliament has received the assent of the president of india on 29th august, 20. Namibian legal system shares its roots with the south african legal system and has developed in close connection to the south african legal system much use is made of south african case law and authorities when interpreting and applying namibian law. The namibian companies act 28 of 2004, amended 2011, contains a numberof provisions that will directly impact all companies, directors and officers. The namibian companies act, act 28 of 2004 the act contains a number of provisions that will directly impact all companies, directors and officers. By resolution of its council pdf 330k, the institute of chartered accountants of namibia has adopted the ifrs for smes for use in namibia for financial statements authorised.
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