Beyond the Corporate Veil a commentary on the approach of the South African Courts to the question of lifting the corporate veil, with particular reference to a tax-avoidance based structure in common use in South Africa at this time

"The Court of Appeal has declared that the formation of the respondent company and the agreement to take over the business of the appellant were a scheme "contrary to the true intent and meaning of the Companies Act". I know of no means of ascertaining what is the intent and meaning o...

Full description

Bibliographic Details
Main Author:	Perrins, R H
Format:	Dissertation
Language:	English
Published:	Faculty of Law 2021
Subjects:	commercial law
Online Access:	http://hdl.handle.net/11427/35410

id	ndltd-netd.ac.za-oai-union.ndltd.org-uct-oai-localhost-11427-35410
record_format	oai_dc
spelling	ndltd-netd.ac.za-oai-union.ndltd.org-uct-oai-localhost-11427-354102021-12-02T05:16:38Z Beyond the Corporate Veil a commentary on the approach of the South African Courts to the question of lifting the corporate veil, with particular reference to a tax-avoidance based structure in common use in South Africa at this time Perrins, R H commercial law "The Court of Appeal has declared that the formation of the respondent company and the agreement to take over the business of the appellant were a scheme "contrary to the true intent and meaning of the Companies Act". I know of no means of ascertaining what is the intent and meaning of the Companies Act except by examining its provisions and finding what regulations it has imposed as a condition of trading with limited liability .... we have to interpret the law, not make it." Salomon v Salomon & Co Ltd, per Herschell, LJ. Thus the starting point of the court in this seminal case (which has been followed ever since in regard to corporate personality) was to interpret the law as they found it in the Act - if the formalities had been complied with a separate judicial person came into being: 2 "The Company is at law a different person altogether from the subscribers to the memorandum; and, although it may be that after incorporation the business is precisely the same as before, and the same persons are managers, and the same hands receive the profits company is not in law the agent of the subscribers or trustee for them". 2021-11-30T17:54:42Z 2021-11-30T17:54:42Z 1994 2021-11-30T17:54:01Z Master Thesis Masters LLM http://hdl.handle.net/11427/35410 eng application/pdf Faculty of Law Department of Commercial Law
collection	NDLTD
language	English
format	Dissertation
sources	NDLTD
topic	commercial law
spellingShingle	commercial law Perrins, R H Beyond the Corporate Veil a commentary on the approach of the South African Courts to the question of lifting the corporate veil, with particular reference to a tax-avoidance based structure in common use in South Africa at this time
description	"The Court of Appeal has declared that the formation of the respondent company and the agreement to take over the business of the appellant were a scheme "contrary to the true intent and meaning of the Companies Act". I know of no means of ascertaining what is the intent and meaning of the Companies Act except by examining its provisions and finding what regulations it has imposed as a condition of trading with limited liability .... we have to interpret the law, not make it." Salomon v Salomon & Co Ltd, per Herschell, LJ. Thus the starting point of the court in this seminal case (which has been followed ever since in regard to corporate personality) was to interpret the law as they found it in the Act - if the formalities had been complied with a separate judicial person came into being: 2 "The Company is at law a different person altogether from the subscribers to the memorandum; and, although it may be that after incorporation the business is precisely the same as before, and the same persons are managers, and the same hands receive the profits company is not in law the agent of the subscribers or trustee for them".
author	Perrins, R H
author_facet	Perrins, R H
author_sort	Perrins, R H
title	Beyond the Corporate Veil a commentary on the approach of the South African Courts to the question of lifting the corporate veil, with particular reference to a tax-avoidance based structure in common use in South Africa at this time
title_short	Beyond the Corporate Veil a commentary on the approach of the South African Courts to the question of lifting the corporate veil, with particular reference to a tax-avoidance based structure in common use in South Africa at this time
title_full	Beyond the Corporate Veil a commentary on the approach of the South African Courts to the question of lifting the corporate veil, with particular reference to a tax-avoidance based structure in common use in South Africa at this time
title_fullStr	Beyond the Corporate Veil a commentary on the approach of the South African Courts to the question of lifting the corporate veil, with particular reference to a tax-avoidance based structure in common use in South Africa at this time
title_full_unstemmed	Beyond the Corporate Veil a commentary on the approach of the South African Courts to the question of lifting the corporate veil, with particular reference to a tax-avoidance based structure in common use in South Africa at this time
title_sort	beyond the corporate veil a commentary on the approach of the south african courts to the question of lifting the corporate veil, with particular reference to a tax-avoidance based structure in common use in south africa at this time
publisher	Faculty of Law
publishDate	2021
url	http://hdl.handle.net/11427/35410
work_keys_str_mv	AT perrinsrh beyondthecorporateveilacommentaryontheapproachofthesouthafricancourtstothequestionofliftingthecorporateveilwithparticularreferencetoataxavoidancebasedstructureincommonuseinsouthafricaatthistime
_version_	1723963448144953344

Beyond the Corporate Veil a commentary on the approach of the South African Courts to the question of lifting the corporate veil, with particular reference to a tax-avoidance based structure in common use in South Africa at this time

Similar Items