NEWSFLASH FOR WEEK 4 (24 – 28 October 2022)

BUSINESS

New corruption laws proposed for businesses in South Africa

One of the proposals from Chief Justice Raymond Zondo’s State Capture Report is to include failure to prevent corruption as a new criminal offence for companies.

According to law firm Bowmans, this recommendation by Zondo will require the amendment of the Prevention and Combating of Corrupt Activities Act 12 of 2004 (PRECCA).

FINANCE

South African crypto platforms must be licensed in 2023 – regulator

Cryptocurrency financial companies in South Africa will need to apply for a licence between 1 June and 20 November 2023, in order to operate legally, the country’s financial conduct regulator said on Thursday.

A declaration on Wednesday that crypto assets are financial products does not mean that they are legal tender, Eugene Du Toit, head of the Financial Sector Conduct Authority’s (FSCA’s) Regulatory Frameworks Department, said at a press conference.

LABOUR

Dis-Chem Plan ‘Passes’ Test

While trade union Solidarity forges ahead with its litigation against DisChem over their moratorium on employment and promotion of whites across all levels, the pharmaceutical giant has received the backing of the Department of Labour’s Commission for Employment Equity (CEE), which said its transformation plan was compliant.

MEDICAL

Impact of loadshedding on medical negligence cases

Eskom, the country’s only public power utility, is seriously battling to meet the electricity power demands of the population and this is likely to have catastrophic consequences for the healthcare system. In recent weeks, several government officials have been calling on Eskom to exempt hospitals and health institutions from loadshedding. Health institutions rely heavily on electricity and any untimely power cut can have serious consequences, possibly leading to litigation from serious health complications. This, in turn, evokes pertinent questions including inter alia: whether, in such instances, victims should sue the energy supplier or the health institution itself / Department of Health; how negligence would be determined in such cases; which medical procedures or interventions are likely to be affected by power cuts; possible measures that can be implemented by health institutions to mitigate against possible harm. This piece intends delving into these aspects.