Problems relating to Trade and Investment on South Africa
11. Restriction on profits remittance abroad |
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Issue |
Issue details |
Requests |
Reference |
| (1) Dividends | - On distributions of dividends from MFS (member firm's subsidiary in SA) to its parent (in Japan), Chapter 2, Article 46 of The Companies Act requires confirmation of solvency & liquidity test, without, however, clarifying the methods for providing its objective proof. | - It is requested that GSA takes step to stipulate into law an easy to understand calculation basis, such as percentage ratio, etc. | - South Africa Companies Act, Chapter 2, Article 46, Solvency & Liquidity Test |
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