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Periodical article Periodical article Leiden University catalogue Leiden University catalogue WorldCat catalogue WorldCat
Title:Corporate law and national development: thoughts on some aspects of corporate law reform in Swaziland
Author:Baloro, JohnISNI
Periodical:The Comparative and International Law Journal of Southern Africa
Geographic term:Swaziland - Eswatini
Subject:company law
Abstract:Considering South Africa's well-developed infrastructure and the recent political stability the country has achieved, foreign investment is more likely to flow into South Africa than into any other country within the southern African region. This implies that the Swaziland boom of the 1970s and 1980s is unlikely to be sustained; and that countries such as Swaziland will have to embark on well-thought-out strategies to remain competitive. For Swaziland this means that it is imperative that urgent attention be devoted to reforming the country's company legislation. In doing so, the focus should be not only on modernizing the Companies Act of 1912, but also on ensuring a law which is as uniform as possible with the laws of countries within the region. The present author outlines a programme of corporate law reform in Swaziland, noting potential areas for reform: the status of preincorporation contracts/agreements, the raising of share capital and the problem of corporate undercapitalization, the role of English company law doctrines, and aspects of corporate governance. He emphasizes that sufficient funding and manpower resources should be allocated in order to implement drafted company legislation properly. Notes, ref.