LATEST UPDATE
Effective date of sections 30m 30A and 30B of the Companies Act
Sections 5, 6 and 19 of the Companies Amendment Act 16 of 2024 are now effective from 22 May 2026. Key changes include:
- Section 30, which requires AFS disclosure of remuneration and benefits received by each individually named director and prescribed officer
- Section 30A, which requires all public companies and state-owned companies to prepare and present a Remuneration Policy for approval at the AGM
- Section 30B, which requires public companies and state-owned companies to prepare a remuneration report for the preceding financial year for the AGM
- Amendments relating to alternative dispute resolution and the Companies Tribunal.
SAICA notes practical implementation challenges arising from the immediate effective sections, as well as the absence of transitional arrangements and supporting guidance. Members are encouraged:
- To review the amendments urgently and assess the impact on clients and entities
- To consider the implications for AFS, remuneration reporting and AGM processes
- To monitor further guidance and regulatory developments.
The notice of commencement of these sections is available on:
https://www.gov.za/documents/notices/companies-amendment-act-commencement-englishafrikaans-22-may-2026
