Economy
This week past Mr Ramaphosa, seeking investments, said that our state needs to be recalibrated and refocused; its capability having been deeply compromised. This view is shared by Business Maverick which ran an article headed: We are in such a deep hole that no one can confidently assert that their strategy will generate growth in the short term. What we do know is that SA needs a much more effective Cabinet and senior levels of the civil service, a much greater role for the private sector throughout the economy and considerably more honesty about what has gone wrong.
One consequence is our economy being downgraded to junk; expected and, by now, old news…
Much more fun is an apparent faux pas by the DA on the Tshwane R4.4bn deficit: you don’t have to worry because taxpayers won’t have to pay more to meet this budget deficit. Great news!
Business
Nothing earth-shaking is happening on the business front – a few interesting snippets are:
The SCA pronounced on Regulation 35 (4) of the Pension Funds Act which allows boards to decide how surplus funds may be used i.e. to pay top up benefits to other members and the like.
Santam is taking a leaf from Mr Zuma’s book and will appeal the Ma-Africa judgement – despite having paid out substantial sums to claimants. By the time it gets around to a final judgement on this, most of its (erstwhile?) clients will either be beyond salvage or the need of the hand-up.
Our Minister of Communications and Digital Technologies has spent R1.8bn in providing 100,000 not-yet-delivered TVs to matriculants to assist in preparing for their exams – who have just finished writing matric. We are reassured that these TVs, stored in post office warehouses, are not gathering dust – internal procurement is in the process of being sought (then one asks why the SABC is not making money – only 24% of users pay for the licences and, clearly, the government, is assisting in creating more non-payers. After all, this year’s matriculants will hardly be using these to study?).
From January next year cheques will not be accepted by our banks.
Takealot has been accused of market dominance based on alleged nefarious practice – sour grapes?
A corporate opportunity may loosely be defined as an opportunity for profit which may be of interest to both the director of a company and the company he represents – take a look: Reference
The end is nigh! Harley-Davidson is now producing electric bicycles, retro-style – replete with those old-style Brooks leather saddles with (bed)springs. Do you remember the clothes peg-held cardboard spoke-strips that we used to generate motorbike noises for our bicycles: and now a silent H-D. What is the world coming to!
Property
Several news agencies ran an article to the effect that our house prices increased by 15% in October. I confess to being sceptical but any drift in the recovery of house prices is welcome – unless you still must buy a home.
Office vacancy rates are at a 16-year high of 12.7% with rental growth at a sub- inflation 2.2%.
We all need a home, right? So, what happens when you give a person a home if he does not have the wherewithal to maintain that home? Will the state step in to maintain such homes on behalf of the new owners? Should the state not retain ownership and give occupation? At least then the state might maintain that which belongs to it as well as control who stays there.
Practice
Doctors (and lawyers) are often the butt of malicious complaints brought against them by clients. What to do? Webbers published a note on actions against such complainants: Reference
An interesting note was published by News24: Cele attributes the 17,000 forensic case backlog to corruption: he says that two generals have been prosecuted and that there is mismanagement which has been corrected. Clearly, the irony that there is known corruption in the SAPS is lost on Mr Cele.
Whilst on unpleasantness in the legal world, the week past saw a cringeworthy judgement of the Johannesburg High Court, involving one of our well-known RAF practitioners, the RAF itself, touting and corruption. The cases in question had been settled but Fischer J refused to accept this and gave judgement nevertheless: do read the stinging rebuke at §123 in the van of a conclusion of contrived inflation of claims. Reference
Our Constitutional Court ruled that domestic workers, employed in private homes, are covered by the provisions of the Compensation for Occupational Injuries and Diseases Act.
An interesting development, brought to my attention by Owen Greene, was a judgement, in the Pretoria High Court, compelling the Minister of Agriculture, Land Reform and Rural Development, to submit the Preservation and Development of Agricultural Land Bill, 2018 to our Cabinet before the end of February next year. The heading of this bill says that it is proposed, in order to promote the preservation and sustainable development of agricultural land in South Africa, to provide, amongst other things, for the demarcation of protected agricultural areas and to introduce measures to discourage land use change from agriculture to other forms of development. Reference
Our law of contract provides that the conclusion of a contract and delivery in terms hereof, are two separate transactions, both requiring the consent of both parties. To certain extent, delivery of immovable property by registration, is a departure from this principle in that only the Seller is called upon to sign documentation to give transfer. Similarly, bonds are signed only by the borrower. This practice sank the arguments of a purchaser, that a bond may also constitute the agreement of sale to which that bond relates. Desperation stuff (courtesy of STBB): Reference
Poorly conceived wills, family and the amendment of wills by a court – do take a look: Reference
More on badly conceived title conditions, blindly carried forward in title deeds: the right of a seller in terms of a title condition to re-claim transfer of the land if the required development does not take place is merely and remains a personal right, even if registered. As a personal right, a reversionary right is not enforceable against the successors in title of the original purchaser. In terms of the Prescription Act, such personal right prescribes after three years. Prof Badenhorst: ask me for a copy of this article published in TSAR.
Quotables
“Corrupt politicians make the other ten percent look bad.”
Henry Kissinger
“Power-lust is a weed that grows only in the vacant lots of an abandoned mind.”
Ayn Rand
Comment
The one positive thing you must say about Nummawan is that he makes friends easily…
We are increasingly seeing movement against past corruption and we may even be turning the corner on this chapter of our history. Whether the reformists will carry the day, is again in doubt: a call by the ANC, for those members who face criminal charges, to step down both in party and in state, is about to be tested and I fear that, in the case of Mr Magashule, this is probably going to be a sidestep (worthy of Cheslin Kolbe) rather than a step down. So, one rule for the hoi polloi and another for those wielding power. Of course, Ms Duarte, that inveterate blind acolyte, leads the charge; and the party’s integrity commission is silent.
I confess to an irrational aversion of everything Mr Zuma stands for and of everyone who stands with him: this week his counsel said this of Judge Zondo (who, incidentally, had been appointed by Mr Zuma himself):
“And in so far as the issue of you becoming a judge in your own matter – which on its own is a ground Mr Zuma’s mentioned – I want to say we’ve also been instructed to lodge a complaint about you in that regard to the JSC”.
I am outraged: this is (presumably?) an SC: my clearly stunted understanding of requests for recusal is that the presiding officer, thus accused, always makes the call whether he may be prejudiced or not? Who, pray, does adv. Sikhakhane think should make this decision?