The Transfer Duty Amendment Bill No. 32 of 2018 was published in the Government Gazette on the 2nd November 2018 for consideration and debate by Parliament.
The Bill proposes various amendments to the Transfer Duty Act Cap 53:01 in respect of transfer duty payable on the sale of immovable property and various rights therein. Read more “Transfer Duty (Amendment) Bill, 2018”
Recently Tatenda Dumba, a senior associate in our Corporate & Commercial Division attended the Botswana Stock Exchange Limited Listing Requirement Refresher Workshop which was held at the BSE offices on the 18th of October 2018. The Refresher Workshop was to highlight the proposed New Listing Requirements that are anticipated to come into effect in January 2019. Read more “Major changes to note with the New BSE Rules”
The Data Protection Act 2018 (the “DPA”) was assented to by the Parliament on 3rd August 2018 and is currently on notice. As the first local statutory enactment focused solely on protection of personal data it is without doubt a critical piece of legislation. Read more “Data Protection Act 101 – What you need to know”
The newly introduced Trust Property Control Act has been a long-awaited development in our jurisdiction. Before the Act, Trusts were governed by common law principles, with the popular trust instrument being the Notarial Trust Deed. Read more “Trust Property Control Act”
Minchin & Kelly (Botswana), (“M&K”), hosted its second WIN Africa event on 31st August 2018 at the Peermont Grand Palm Hotel, Gaborone, Botswana, at which the entire M&K team of attorneys was in attendance. Read more “WIN Africa”
Corporate governance is a set of rules and practices by which a governing board is supposed to ensure accountability, fairness and transparency in an organisation’s relationship with its stakeholders. Corporate Botswana developed its own corporate governance code in order to address perceived gaps in the existing governance structures. This was mostly an adoption of the King III. Read more “Corporate Botswana is ready for Corporate Governance”
Financing of large scale projects or infrastructure requires substantial funding to the extent that a bank or a financial institution is often not prepared or does not have the capacity to fund the project or infrastructure solely. To deal with this, lenders often form a consortium to finance the project or infrastructure collectively. Read more “The conundrum of holding mortgage bonds as security for multiple lenders”
The Non-Bank Financial Institutions Regulatory Authority (NBFIRA) is the body charged with regulating non-bank financial institutions and improving the fairness, efficiency and orderliness of the non-bank sector and the stability of the financial system.
An Acknowledgment of Debt according to Blacks Law Dictionary, 8th Edition is a written document stating the recognition by a debtor of the existence of a debt commonly referred to as an “AOD”.
The said acknowledgment is an “agreement” which embodies an arrangement or understanding between or among two or more parties which purports to establish a legally binding relationship in law.
Banking financial service laws in Botswana are proposed to be amended to comply with the Eastern and Southern Africa Anti-Money Laundering Group (ESAAMLG) mutual evaluation to Botswana. The banking financial service laws proposed to be amended are the Banking Act, the Proceeds and Instruments of Crime Act and the Financial Intelligence Act.
Read more “Proposed amendments to banking financial service laws in Botswana”