6 Long Questions and Answers on Legislations: Business Studies Grade 12

List of Long Questions and Answers on Legislations: Business Studies Grade 12

Explain the purpose and key provisions of the Companies Act of 2008 in South Africa.
- Answer: The Companies Act of 2008 in South Africa was enacted to provide a comprehensive framework for the formation, management, and regulation of companies in the country. The key provisions of the Act include the registration and incorporation of companies, the rights and duties of shareholders, the appointment and responsibilities of directors, and the reporting and disclosure requirements for companies.
Discuss the impact of the National Credit Act of 2005 on the South African credit industry.
- Answer: The National Credit Act of 2005 was implemented in South Africa to regulate the credit industry and protect consumers from predatory lending practices. The Act introduced new regulations for credit providers, including mandatory registration, disclosure requirements, and the imposition of penalties for non-compliance. The Act also established the National Credit Regulator to oversee the industry and ensure compliance with the Act. The impact of the Act has been to increase consumer protection and transparency in the credit industry, but it has also led to some challenges for credit providers in terms of increased compliance costs and reduced access to credit for certain consumers.
Analyze the role of the Competition Commission in South Africa in promoting fair competition in the economy.
- Answer: The Competition Commission of South Africa is an independent statutory body established under the Competition Act of 1998. The Commission’s main role is to promote and maintain fair competition in the South African economy by investigating and prosecuting anti-competitive practices such as price-fixing, market dominance, and collusion. The Commission also has the power to make recommendations to the Competition Tribunal and to impose fines on companies found to have engaged in anti-competitive behavior. The Commission plays a crucial role in ensuring that businesses operate in a competitive environment, which ultimately benefits consumers through lower prices and better products and services.
Describe the main provisions of the Employment Equity Act of 1998 and its impact on the South African labor market.
- Answer: The Employment Equity Act of 1998 is a South African law that aims to address the historical inequalities in the labor market by promoting equity and diversity in the workplace. The Act requires employers to implement affirmative action measures to ensure that certain designated groups, such as women, people with disabilities, and people from previously disadvantaged backgrounds, are adequately represented in the workforce. The Act also prohibits discrimination in the workplace on the basis of race, gender, and other grounds. The impact of the Act has been to increase the representation of designated groups in the workforce, but it has also led to some challenges for employers in terms of implementing affirmative action measures and complying with the Act’s requirements.
Explain the purpose and key provisions of the Occupational Health and Safety Act of 1993 in South Africa.
- Answer: The Occupational Health and Safety Act of 1993 in South Africa was enacted to protect the health and safety of workers in the country. The Act requires employers to provide a safe and healthy working environment for their employees and to take all reasonable steps to prevent accidents and injuries in the workplace. The Act also establishes the Occupational Health and Safety Council, which is responsible for developing and enforcing regulations related to workplace health and safety. The key provisions of the Act include the requirement for employers to conduct risk assessments, implement safety procedures, and provide training for employees on health and safety issues.
Discuss the impact of the Broad-Based Black Economic Empowerment Act of 2003 on the South African economy.
- Answer: The Broad-Based Black Economic Empowerment Act of 2003 was implemented in South Africa to promote economic transformation and address the legacy of apartheid by increasing the participation of black people in the economy. The Act introduced a system of points-based accreditation for companies, with points awarded for meeting certain criteria related to ownership, management, employment, and procurement.