Organised Labour proposals on Companies Amendment Bill

As you may be aware, BUSA is currently participating in a Nedlac task team on the Companies Amendment Bill. As part of engagements in the task team, Organised Labour has submitted a number of proposed amendments to the current Act. Members are strongly encouraged to study the proposals, which include – inter alia – the following proposals:

  • Mandatory inclusion of pay ratios in remuneration reports;
  • Binding shareholder votes on remuneration reports;
  • Mandatory inclusion of trade union / worker representation in Social & Ethics Committees;
  • Prohibition of share buybacks;
  • Business Rescue amendments to favour the rights of workers over creditors.
  • Granting unions / workers access to company accounting and financial records, board meeting minutes, etc.

 

Please provide your comments on the below proposals from Organised Labour by 19 August 2019.

Labour amendments Companies Amendment Bill

Companies Amendment Bill FINAL 10 MAY 2019