An act to consolidate and amend the laws in force in zimbabwe relating to the constitution, in corporation, registration, management, administration and winding up of companies and other associations, and for other purposes incidental thereto. The latest acts, bills and regulations acts act date. Registrar of companies the entrepreneur can search the online database to check whether the desired company name is available for registration. It is modern and incorporates fundamental changes in the concept and style of running of a company. Chapter 388 the companies act the companies act arrangement of sections part i preliminary section 1. Bank of botswana amendment act banking act 1995 banking act 1995 banking antimoney laundering regulations 2003 botswana stock. Stock exchange means a stock exchange established under the botswana stock exchange act or any other stock exchange outside botswana which is regulated by the laws of the jurisdiction in which it is situated and is recognized by the minister for the purposes of this act.
Botswana market overviewbotswana market overview discusses key economic indicators and trade statistics, which countries are dominant in the market, the u. Solvency solvency is a corner stone of the botswana companies act. Botswana property rights and resource governance profile. Statistics botswana was set up as a parastatal under the ministry of finance and economic development. The project, launched in 2002, looks at domestic small and mediumsize companies and measures the regulations applying to them through. Extenuating circumstances in treason and similar offences 41. This act may be cited as the companies amendment act, 2018, and shall come into operation on such date as the minister may, by order published in the gazette, appoint. Brief summary of botswana companies act rsm botswana. Feedback please provide feedback on the elaws application so that we can improve this site and make it one of the best of its kind. Botswana institute of chartered accountants bica legal practitioner botswana association of company secretaries bacs association of business consultants of botswana abcb other please specify i consent to act as a secretary of the above proposed company and certify that i am not disqualified from being appointed as a secretary of a company. Botswana has a legal system in place to facilitate international cooperation in mutual legal assistance and extradition matters which they have applied on a few cases of ml. Superiority ofact part ii incorporation and registration of companies 6. However, noncriminalisation of all predicate offences limits the scope of international. The ultimate goal in repealing the companies act, no.
Data protection act botswana communications regulatory. Prohibition of financial assistance by company for purchase of its own or its holding companys shares issue of shares at premium and redeemable preference shares 58. The companies act in this act referred to as the act is amended in section 2 by a inserting in its correct alphabetical order, the following new definition. Companies act with its variations is a stock short title used for legislation in botswana, hong kong, india, malaysia, new zealand, south africa and the united kingdom in relation to company law. It provides quantitative indicators on regulation for. Roughly 46% of the total land area is classified as agricultural land, although only 5% is suitable for cultivation and only 1% was cultivated in 2002.
Two shareholders are required and one may be a nominee for the other. Power to pay certain commissions and prohibition of payment of all other c ommissions, discounts, etc. Government of the republic of zambia companies of of. Restricted application of act in case of insurance companies. Supplement a botswana government gazette dated 10th september, 2004. The project, launched in 2002, looks at domestic small and mediumsize companies and measures the regulations applying to them through their life cycle. Interpretation 1 in this act, unless the context otherwise requires application means an application for a licence, in accordance with section 16, to manufacture any product at any place in botswana, and includes a an application to manufacture a different or additional product. Effect of act on company not having constitution 40. Prior to the introduction of the new companies act 2003 on 3rd july 2007, companies in botswana were formed under the companies act cap 42.
Certain persons deemed to threaten security or sovereignty of botswana 40. Companies that do not have public accountability their securities are not publicly traded and they are not a financial institution and that meet the threshold to be an exempt company under the botswana companies act may use the ifrs for smes standard. Procedure time to complete associated costs 1 reserve a unique company name agency. Around 10 percent of the population lives in the capital and largest city, gaborone. Given that it still provides the greatest return on investment of any marketing channel, having accurate and up to date email leads. Supplement a botswana government gazette dated 10th september, 2004 companies act, 2003 no. Botswana business directory list of companies in botswana. Power of external company to hold land in botswana.
Public register of issued waste management facility licences 26. Formation of a company nonresidents may hold shares in a botswana company. Companies act 71 of 2008 english text signed by the president assented to. 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 interim economic partnership agreement iepa ensures unhindered market access for existing export products to the eu. This act may be cited as the financial reporting act, 2010 and shall come into operation on such date as the minister may, by order, appoint. Adoption, alteration and revocation of constitution 44. A midsized country of just over 2 million people, botswana is one of the most sparsely populated nations in the world. In this act unless the contzxt otherwise requires short title.
Subsidiary legislation index to subsidiary legislation botswana barbados double taxation avoidance agreement order botswana france double taxation avoidance agreement order botswana india double taxation avoidance agreement order botswana namibia double taxation accordance agreement order. Botswana is a landlocked country located in southern africa. This database is available on the website of the ministry of. Owned companies in botswana the following companies are wholly or majorityowned by a u. As are common with private limited companies, their shares cant be freely transferred and such companies may not seek funds publicly. Act used with reference to legislation means any statute enacted by the legislature of the island whether before or after the 1st april, 1968, and. Companies act, 2011 lesotho legal information institute. The laws of botswana online is intended as a tool for both the legal community and the general public the object of the website is to make all the statutory laws principal and subsidiary legislation of botswana in force available at one source on the internet in an updated consolidated form. Owned companies in botswana registered, and have offices.
Solvency is a corner stone of the botswana companies act. Meaning of solvency test stated capital meaning of holding company and subsidiary definition of control certain matters to be disregarded. Companies and intellectual property authority act, 2011 aripo. Restricted application of act in case of insurance companies 5. Business directory botswana, list of companies in botswana with contact details, addresses. Guidelines for corporate law reform may 2004, a policy document developed by the department of trade and industry the dti.
This act may be cited as the companies act chapter 24. To provide for the incorporation, management and liquidation of companies. Introduction the new companies act commenced on the 3rd july 2007. The companies amendment bill, 2018 was gazetted on friday 21 september 2018. A company is able to buy back its shares or finance a person to buy its own share or reduce the.
The organisation is under the oversight direction of the board of directors. The companies act in this act referred to as the act is amended in section 2 by a inserting in its correct alphabetical order, the following new. These regulations may be cited as the companies fees regulations. In this act, unless the context otherwise requires annual report means the document that an entity issues on an annual.
Declaration of republic botswana is a sovereign republic. Transfer of registration and registration of statutory corporations as companies. Botswana is eligible for trade benefits with the us under the african growth and opportunity act agoa. The bill proposes the first amendments to the companies act, 2008 since the act came into effect in 2011. For guidance, the developers looked to south african company law for the 21st.
Botswana institute of chartered accountants bica rules relating to accountants act 2010 contents part 1. Blue book botswana 788 789 statutory instrument no. Supplement a botswana government gazette dated 7th july, 1995 banking act 1995. This act may be cited as the companies amendment act, 2018. Revocation of waste management facility licence 23. The public seal of the republic shall be such device as may be prescribed by or under an act of. Development approval orders dao the effect a dao is to vary the income tax act to give tax incentives in the form of deductions in ascertaining chargeable income which are over and above the normal deductions allowable under the act. A company is able to buy back its shares or finance a person to buy its own share or reduce the shares, so long as solvency tests are performed and directors record their opinion that the company is solvent before making such decisions. Companies amendment act 3 of 2011 act to provide for the incorporation, registration, organisation and management of companies, the capitalisation of profit companies, and the registration of offices of. Bocra will investigate a consumer complaint against a service provider if there is sufficient evidence to establish. The elaws is a project sponsored by the attorney generals chambers to promote easy access to the laws of botswana, the law reports and other legal information. This act may be cited as the industrial development act.
Legal nature and rights and powers attaching to shares 46. An exempt company is one that satisfies all three of the following conditions. Doing business captures several important dimensions of the regulatory environment as it applies to local firms. The botswana companies database from global database contains contact details for 12885 leading companies and key employees within botswana. An act to consolidate and amend the laws in force in botswana relating to the. Companies act 28 of 2004 gg 3362 brought into force on. The companies act provides a simplified framework for the incorporation of companies and other legal entities like close corporations and imposes strict obligations on corporate governance. The organisation operates under the 2009 statistics act which was passed by parliament. Form 2 consent and certificate of director or directors. Suspension of waste management facility licence 22. An act to provide for the registration of air botswana as a public company under the. Economy profile of botswana doing business 2020 indicators in order of appearance in the document starting a business procedures, time, cost and paidin minimum capital to start a limited liability company. Acknowledgements the botswana trade policy framework was prepared at the request of the ministry of trade of botswana by an unctad team led by mina mashayekhi, head, trade negotiations and commercial diplomacy branch, division. The namibian companies act, act 28 of 2004 the act contains a number of provisions that will directly impact all companies, directors and officers.
An act to provide for the registration of botswana telecommunications. A company is able to buy back its shares or finance a person to buy its own share or reduce the shares, so long as solvency tests are performed and directors. The bill for an act with this short title will usually have been known as a companies bill during its passage through parliament. As a member of the world trade organisation, botswana is committed to the implementation of wto agreements. Chapter5303 botswana unified revenue service act income tax ammendments act 1999 income tax ammendments act july 2006 income tax ammendments declaration value added tax act amendment act 2002. Fees payable under the act 1 the fees payable to the registrar, in terms of section 522 of the act, shall be as set out in table 1 contained in the schedule. The companies act was introduced in parliament during 2008 and published for general. Of 2012 companies regulations 2012 in exercise of the powers conferred upon me by section 185 of companies act 20111, i, dr leketekete victor ketso minister responsible for trade and industry, cooperatives and marketing make the following regulationscitation and commencement 1. Bse listings requirements, the botswana companies act, the jse listings requirements, the south african companies act, the saica financial reporting guides as issued by the accounting practices committee and the international integrated reporting framework. Aon corporation chicago, il aon botswana is the largest insurance brokerage firm in the country with more than 100 employees. For guidance, the developers looked to south african company law for the 21st century. The regulations were gazetted through statutory instrument no.