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Right to Seek Specific Remedies
Application can be made to Court in matters such as protecting the rights of security
holders, declaring a director delinquent or on probation, or relief from oppressive or
prejudicial conduct.
Application can be made to Companies Tribunal or Human Rights Commission in
disputes concerning reservation or registration of company names.
Voluntary Resolution of Disputes – filing of complaint to Company Tribunal or
Alternative Dispute Resolution Agent.
Complaints to Commission or Take-Over Regulation Panel – a person can file a
complaint with the Panel (relating to fundamental transactions, takeovers and offers) or
Commission (regarding any other matter arising in terms of the Act) who may direct that
an investigation is conducted.
Following an investigation into a complaint, the Commission or Panel may:
■ End the matter;
■ Urge the parties to attempt the voluntary alternative resolution of their dispute;
■ Advise the complainants of any right they may have to seek a remedy in court;
■ Commence proceedings in a court on behalf of a complainant, if the complainant
so requests;
■ Refer the matter to another regulator if there is a possibility that the matter falls with
their jurisdiction; or
■ Issue a compliance notice, but only in respect of a matter for which the complainant
does not otherwise have a remedy in a court.
The Commission or Panel may also apply for leave to intervene in any court proceedings
arising in terms of the Act in order to represent an interest that would not otherwise be
represented.
A compliance order may be issued against a company or against an individual if the
individual was implicated in the contravention of the Act.
Administrative Fines
A court, on application by the Commission or Panel, may impose an administrative fine
for failure to obey a compliance notice. The fine may not exceed the greater of:
■ 10% of the respondent’s turnover for the period during which the company failed to
comply with the compliance notice, and
■ The maximum prescribed in terms of sub-section (5). Regulation 163 prescribes this
as R1 million.

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