Black Female Private Company Owner

[Kaitlyn]

I need assistance as I'm applying as a vendor and I was of the opinion that my company registration documents would be required, as well as share register, share certificates and resolution, but now they require a share agreement and when I had googled it said there was no legal requirement for this, but the main contractor wants a share agreement which I do not have, as my budget is really tight. Also between the employee whom I offered the shares, we just on the company letterhead noted that he would be paying for the shares within a 6 month period and if not paid by then or not paid in full, we would refund him whatever was paid and he would return the shares. We both signed this off and had 2 witnesses sign as well. So please advise of my options? Is the the share register, share certificates and resolution, not the only requirements for the transfer and issue of shares???? Please help???

[Andromeda]

Hi Kaitlyn

Also between the employee whom I offered the shares, we just on the company letterhead noted that he would be paying for the shares within a 6 month period and if not paid by then or not paid in full, we would refund him whatever was paid and he would return the shares. We both signed this off and had 2 witnesses sign as well.

That paragraph implies that there is one, or should be one. The provisions of an agreement may also not conflict with the MOI. That means that if the agreement varies the MOI, then the MOI should be customised. Also, because the comany has provided financial assistance to the employee in question, you need to make sure that you comply with Section 44 of the Act, which you most likely don't.

The link to a sample agreement is simply that, a sample. It may even require an amendment to the MOI, I haven't checked. http://www.agreementsample.com/agree...e-south-africa
However the document signed by you and the employee obviously constitutes a binding agreement so anything additional cannot be in conflict with it.

[ians]

All you missing is "disable black female private company"... i see most of the companies using colour as a front ...make sure they add... "disable" black female to achieve max tender points.