互聯網的發展與近年來數據平台受到公私部門重視，資訊的取得與流通變得便捷，中國房地產文化目前有別於台灣，尚無實價登錄機制且地域面積廣大，傳統估價模型可能無法直接應用，面對房地產背後眾多的影響因素，本研究將預測建模目標放在泡沫化尚不嚴重且較具有潛力的中國新一線城市杭州市，自新浪二手房網爬取杭州市房地產數據，並自國家統計局取得各地區行政支出數據，作為實證分析資料。結合自動程序爬蟲抓取數據、統計分析與機器學習方法，期望對中國房地產建立一混合非監督式與監督式學習之模型。 在分群結果之後建構模型採用之技術為C5.0、三層CHAID、五層CHAID與Neural Network，挑選出最適合的模型為使用混合模型後的C5.0決策樹方法，達到降低變數維度亦提升或達到相當的預測準確率的雙贏目標，模型中行政地區、面積、總樓層為最頻出現的重要變數。 另外透過集群分析於行政支出的應用，發現2016年度杭州市投入的行政支出集中於余杭區、蕭山區、濱江區，成為賣屋及購屋者的第二項決策標準。 / In recent years, with the growth of the Internet and the importance of data platform on public sector and private sector. Getting and sharing information are made easily. The culture of real estate in China is different from Taiwan. For instance, there is no actual house price registration system. Furthermore, traditional estimate model may not be directly applicable to China which has the vast geographical area of the mainland. There are many factors to influence house price model. This study focus on Hangzhou city. Because the burst of real estate bubbles is not serious as first-tier cities and it is one of new first-tier cities in China. The research data were crawler from Sina second-hand housing website and National Bureau of Statistics. By using auto web crawler skill, statistical analysis, and machine learning method to build a real estate model in China, which was combining unsupervised learning method with supervised learning method. After clustering Hangzhou second-hand housing data, this study used C5.0, three layers Chi-Square Automatic Interaction Detector(CHAID), five layers CHAID, and Neural Network(NN). The study goal are both reducing dimension and getting better forecast accuracy. Choosing clustering- C5.0 model as appropriate house price model to achieve win-win situation after comparing final result. Administrative region, area, and total floor are the top three high frequency influential factors. Applying Clustering Analysis to administrative expenses data in Hangzhou, the study found that the government resource focus on Yuhang, Xiaoshan, and Binjiang. It can be the second decision-making criterion for house sellers and house buyers.

[pt] O objetivo desta pesquisa é entender a socioconstrução de identidade de três professoras de inglês como língua estrangeira em relação a seus atravessamentos interseccionais (Ferreira, 2012, 2015; Collins;Bilge, 2016), por meio de uma análise micro, utilizando o sistema de avaliatividade da Linguística Sistêmico-Funcional (Halliday;Hasan, 1989; Halliday, 1994; Martin;White, 2005), e de uma análise macro, em um processo de reflexividade crítica que visa o amadurecimento de um sentir crítico (Borges, 2016), pautado na sensibilização quanto a questões de sofrimento humano, estigma, ideologia e relações de poder (Foucault, 1969; Goffman, 1963; Butler, 1993). Assim, analiso narrativas de momentos críticos vivenciados pelas professoras e histórias de agentividade em suas práticas pedagógicas cotidianas, com base na metodologia qualitativa de pesquisa, em especial no conceito de conhecimento situado (Haraway, 1988), e em alinhamento à epistemologia feminista interseccional (Lykke, 2010). Os resultados indicam a influência direta das identidades sociais de gênero, raça/etnia e classe social na construção discursiva de suas práticas identitárias de professora, reforçando a importância de compreendermos os atravessamentos identitários que nos configuram, no mundo e com o mundo (Souza, 2011), para a promoção de uma consciência crítica (Freire, 1987) e de lutas hegemônicas (Fairclough, [1992] 2001) possíveis no cenário da sala de aula de língua estrangeira como um lugar de dissenso e desaprendizagem (hooks, 1994, 2003; Moita Lopes et al, 2006, 2013). Reforço ainda que a contribuição deste trabalho está não em dar voz a essas mulheres, mas, sim, em nos permitir ouvir as representações que fazem da realidade (Riessman, 1993) da sala de aula, visando a coconstrução e ressignificação dessa experiência, para fomentar o devir do sentir crítico que defendo neste trabalho. / [en] The aim of this research is to understand the socioconstruction of the identities of three EFL teachers in relation to their intersectional crossings (Ferreira, 2012, 2015; Collins;Bilge, 2016), through a micro analysis, which makes use of the Systemic-Functional Linguistics Appraisal System (Halliday; Hasan, 1989; Halliday, 1994; Martin; White, 2005), and a macro analysis, in a process of critical reflexivity that aims at the ripening of a critical feeling (Borges, 2016), which is based on the awareness of issues related to human suffering, stigma, ideology and power relations (Foucault, 1969; Goffman, 1963; Butler, 1993). Thus, I analyze narratives of critical moments experienced by teachers and stories of agentivity in their daily pedagogical practices, under the premises of the qualitative methodology of research, especially the concept of situated knowledge (Haraway, 1988), and in alignment with intersectional feminist epistemology (Lykke, 2010). The results indicate the direct influence of social identities of gender, race/ethnicity and social class in the discursive construction of their identity practices as teachers, reinforcing the importance of understanding the identity crossings that shape us, in the world and with the world (Souza, 2011), to promote critical conscience (Freire, 1987) and the possible hegemonic struggles (Fairclough, [1992] 2001) in the setting of the foreign language classroom as a place of dissent and unlearning (hooks, 1994, 2003; Moita Lopes et al, 2006, 2013). I also stress that the contribution of this work does not lie in giving voice to these women, but rather in the chance of allowing us to listen to the representations they make (Riessman, 1993) of the classroom reality, aiming at the co-construction and re-signification of this experience so it helps develop the becoming of the critical feeling I defend in this paper.

La promotion du transport ferroviaire de marchandises permet d’améliorer l’impact environnemental du transport de marchandises, à travers la réduction de la part modale de la route, qui est responsable d’environ un quart des émissions européennes de CO2. L’objet de cette thèse est d’analyser les flux de marchandises afin de proposer des solutions opérationnelles qui permettraient d’augmenter la part de marché du transport de fret ferroviaire, notamment grâce à une meilleure utilisation des terminaux intermodaux. La première partie de la thèse fournit une synthèse des principales modèles théoriques concernant l’analyse de la demande et de l’offre de transport de marchandises, afin d’analyser le lien entre activité économique et transport de marchandises. Une analyse détaillée des sources statistiques disponibles au niveau européen, national et régional, est aussi fournie. Dans la deuxième partie, une application au cas des chantiers de transbordement rail-route en France est présentée, et une comparaison avec d’autres pays européens est réalisée. L’objectif de cette analyse est d’estimer la demande potentielle de transport combiné, d’évaluer la productivité des terminaux intermodaux et d’étudier l’impact socio-économique et financier des investissements dans les terminaux intermodaux, en évaluant également la possibilité des nouveaux montages financiers (PPP). Les résultats de l’analyse montrent un large potentiel pour le transport combiné, en particulier en lien avec l’activité des ports maritimes, et une productivité faible dans les terminaux existants. En conséquence, cette analyse suggèrerait de concentrer les investissements sur un nombre limité de sites à haut potentiel, afin d’attirer des investissements privés et optimiser l’utilisation des fonds publics. Les implications politiques de cette analyse sont multiples : elles concernent d’abord le gestionnaire d’infrastructure et les opérateurs ferroviaires, qui doivent mieux planifier les investissements en fonction de la demande commerciale. Elles concernent aussi l’Etat et les collectivités locales, qui doivent optimiser l’utilisation des fonds publics en favorisant les localisations à haut potentiel. / The promotion of railway modal share has large benefits on the environment by reducing the modal share of road transport, which is responsible for about one-fourth of European CO2 emissions. The aim of this dissertation is to analyse freight transport flows in order to provide operational solutions to increase the modal share of railways transport through a better use of intermodal terminals. In the first part of the dissertation a theoretical survey of freight transport models is provided, in order to show the linkage between freight transport and economic activities. A comprehensive analysis of data sources at European, national and regional levels is also provided. In the second part of the dissertation an application to the case of railway intermodal terminals in France is provided, with some comparisons to other European countries. The scope of the analysis is to estimate the potential demand of combined transport, to assess the productivity of intermodal terminals and to evaluate the socio-economic and financial impact of new investments in terminals, also through new project financing schemes (PPPs). The results show a large potential for railway intermodal transport, especially in connection with maritime ports, and low productivity in existing terminals. As a consequence it’s fundamental to concentrate new investments in a few high potential locations, in order to attract private investments and to provide a better use of public funds. The policy implications of this analysis are multiple: it concerns first the railway companies and the infrastructure managers, which should better plan their investments according to commercial needs. It concerns also governments and regional authorities which should better concentrate public funds on optimal terminal locations.

Formal dialogues between an employee and a manager have long existed as a tool to achieve organizational goals and to develop employees as well as the organization. Development requires the exchange of feedback between employees and managers which is considered as one of the most important parts of the performance appraisal talk. Despite the purpose of the talk, previous research proves a dissatisfaction with the talks among the employees and an uncertainty with its practical usefulness. It is of significance that employees have a positive attitude towards the performance appraisal talk and its use in order to create favorable effects for the organization. Therefore, this study aims to understand employees and managers perception of the performance appraisal talk and to form an understanding with the parties receptivity towards feedback during the talks.   The purpose of this study has been fulfilled through a total of eight interviews with employees and managers in Handelsbanken.   The result of the interviews show that all respondents have a positive attitude towards performance appraisal talks, and both managers and employees agreed that the talk is of high significance. The purpose of the talk is to notice, develop and support the employees, create common goals and to exchange feedback between the parties. The interviews indicate that all respondents are receptive towards both positive and negative feedback during the performance appraisal talk. According to the managers and employees, the receptivity to feedback depends on the individual and the current situation. Positive feedback is preferred and feels easier to receive and process, but at the same time, negative feedback is also regarded as needful. / Formella samtal mellan medarbetare och chef har länge existerat i organisationer som ett verktyg för att nå satta mål i organisationen och bana väg för utveckling av både medarbetare och organisation. Utveckling förutsätter att feedback utbyts mellan parterna vilket bedöms som ett av samtalets viktigaste funktioner. Trots samtalets syfte, påvisar tidigare forskning attdet finns tveksamhet och missnöje bland anställda kring samtalets praktiska användbarhet. Det är av betydelse att anställda har en positiv inställning till medarbetarsamtal och dess funktion för att det ska skapa gynnsamma effekter för organisationen. Studien syftardärmed till att förstå medarbetares respektive chefers uppfattning om medarbetarsamtal samt skapa förståelse för parternas mottaglighet för feedback i samtalen. Forskningsmetoden följer en kvalitativ ansats och en fallstudiehar genomförts på olika kontor i Handelsbanken. För att uppnå studiens syfte har totalt 8 semi-strukturerade intervjuer genomförts med chefer och medarbetare på kontorsnivå. Resultatet visaratt samtligarespondenter har en positiv inställning till medarbetarsamtal på arbetsplatsen och både chefer och medarbetare var ense om att samtalet är betydelsefullt. Resultatet tyder på att medarbetarsamtalet handlar om att uppmärksamma, utveckla och stödja medarbetarna. Samtalet syftar även till att skapa en gemensam syn kring mål samtattförmedla feedback mellan chef och medarbetare. Samtliga respondenteri studienär mottagliga för både positiv och negativ feedback i samband med samtalen. Enligt både chefs-och medarbetarperspektivet är mottagligheten för feedback beroende av individen och situationen. Positiv feedback föredras och upplevs vara lättare att motta samt bearbeta, men samtidigt anses det behövligt att även motta negativ feedback.

[pt] A maioria das unidades escolares públicas brasileiras adota a estrutura de organização seriada, que permite a retenção do aluno na mesma série no término do ano letivo. Na escola onde esta pesquisa foi realizada, como professora de Língua Inglesa, tenho lecionado para um grupo de alunos que permanece no 6. ano há três, quatro, ou até mesmo cinco anos. Com base neste fato, minha motivação em conduzir o presente estudo se dá pelo interesse em investigar: (1) de que maneira os alunos avaliam o contexto escolar no qual se encontram? e (2) que identidades são construídas durante a interação entre alunos/participantes e professora/pesquisadora?. A abordagem sociossemiótica de linguagem da Linguística Sistêmico Funcional fundamenta o trabalho, alinhada a pressupostos socioconstrucionistas de identidade que a concebem como um fenômeno fluído, emergente, interacional e sociocultural. A coconstrução das identidades é observada, principalmente, em pequenas histórias surgidas espontaneamente em Grupos de Discussão. Duas perspectivas direcionam a análise das avaliações nas narrativas: o ferramental de análise textual do Sistema de Avaliatividade e os construtos teóricos seminais e contemporâneos que propõem o estudo das avaliações no discurso narrativo. Seguindo a metodologia qualitativa de pesquisa, dez alunos do Ensino Fundamental e da EJA (Educação de Jovens e Adultos) foram entrevistados pela pesquisadora/professora acerca de sua visão da prática escolar. Histórias contadas pelos participantes retratam situações do cotidiano da escola que sugerem relações de conflito entre alunos, professores, coordenadores e diretores. A coconstrução das pequenas histórias sinaliza fortes atitudes de identidades coletivas, por meio das quais os participantes engajam-se em um processo discursivo de culpabilização do outro, construindo-se como vítimas de um ambiente escolar que não propicia a qualidade de vida necessária à efetivação do processo de ensino-aprendizagem. / [en] The majority of Brazilian public schools adopt a system which keeps students who fail at the end of the school year in the same grade. As an English language teacher in the school where this study was guided, I have been teaching a group of students who have remained in the sixth grade for three, four, or even five years. Based on this fact, my motivation to conduct this research derived from an interest in investigating: (1) how do students evaluate the context in which they find themselves? (2) which identities are constructed during the interaction among students/participants and teacher/researcher? The study is based on the sociosemiotic approach of language, as proposed by Systemic Functional Linguistics, aligned with socioconstructionist paradigms of identity which conceive it as a fluid, emerging, interactional and sociocultural phenomena. The construction of identities is observed in small stories spontaneously told during Discussion Groups carried out with the participants. Two perspectives lead the analysis of evaluative moments in the narratives: the analytical tools of the Appraisal Theory and the seminal and contemporary theoretical concepts related to narratives, which emphasize the study of evaluation in narrative discourse. Following a qualitative methodology, ten students from secondary school and EJA ( Educação de Jovens e Adultos ) were interviewed by the researcher/teacher about how they see their school practice. Stories told by the participants portray situations of everyday school life which suggest relationships of conflict among students, teachers, coordinators and principals. The coconstruction of small stories indicates strong attitudes of collective identities through which participants blame the other, constructing themselves as victims of a school environment that does not provide the necessary quality of life for an effective learning process.

Philosophiae Doctor - PhD / This study sought to examine independent clause Sesotho personal names as authentic social discourse using the Systemic Functional Linguistics (SFL) theory. It sought to analyze their structure and map them to social functions to demonstrate that they are enacted messages in socio-cultural context of Basotho. It used a form-meaning approach to interpret Sesotho names in socio-cultural contexts of use (cf. Halliday 1994, 2001, Eggins, 1996, 2004 and Martin & Rose 2007) as an alternative to the current formalist approach to onomastica interpretation. The SFL analysis was compared and contrasted mainly with the formalist syntactic specific and semantic specific analyses currently in use by Guma, Sesotho Academy and subsequent authors of Sesotho grammar and other linguists. The purpose of displaying these names as texts in social context enfolded the intent to reflect a systemic interface of lexico-grammar and social activity. The study used the clause-text-culture paradigm to explore Sesotho names as texts or semantic units. The idea was to access their ‘meanings beyond the clause’ (Martin & Rose 2007). Data was collected from national examinations pass lists, admission and employment roll lists from Public, Private, Tertiary, Orphanage institutions. Other data was identified in Telephone directories and Media. The purely linguistic lexico-grammatic analysis of the structure of names was supplemented by interview data from real interpretations from families, owners and senior citizens who have social and cultural knowledge of the meanings of some names. The study has established that Sesotho personal names can present as an independent clause feature. Sesotho personal names can also be described as lexico-grammatical properties and are meaningful in social contexts. They are used to exchange information as statements, demands and commands, and as questions and as exclamations. This means that these names can be categorized according to Halliday’s Mood types which make them function as declaratives, imperatives, interrogatives and exclamatives depending on the awarder’s evaluation. The study also finds that in negotiating attitudes, modality is highly incorporated. The study concludes that Sesotho names conform to the logical structures of the nominal group and the verbal group and these groups reciprocate in use. The verbal group is the core constituent in these names and it serves as a foundation for the nominal and verbal groups particularly because they function as reciprocating propositions. This includes the names with the sub-modification features. This extends the formalist description of Sesotho independent clause in that the identified sub-modifications which are opague and taken for granted by formalist analysts of Sesotho, are explicated as essential elements embedded in the formmeaning relation in SFL. The main contribution is that this is the only study on SFL and onomastica. There is no study that has been conducted using SFL to describe African names. It presents that Sesotho personal names are texts that have been negotiated in socio-cultural contexts. It provides a major departure from most studies that have used the Chomskian formulations or other sociolinguistic theories to describe the naming systems. It displays the art and importance of language use based on experience and culture in the naming system. The study also contributes to fields such as education, history, and others. Lastly, the study has established a new relation of onomastica and SFL theory and onomastica can now be added to the areas “being recognized as providing a very useful descriptive and interpretive framework for viewing language as a strategic, meaning-making resource.” (Eggins 1996:1).

The Case Study of the Developmental Appraisal System (DAS) is the main focus of this research inquiry. DAS is an instrument for teacher professional development aimed at enhancing the competency of teachers and accordingly, the quality of education. In the context of this exploratory study, informed by concerns about teacher learning, I sought to gain insight into how the implementation of government policy on teacher appraisal influences the way teachers strive to learn and change their practices. Therefore, the purpose of this study was to trace the implementation of government policy on teacher development in different contexts and to determine the extent to which DAS policy influenced teacher learning in these diverse contexts. The research inquiry is guided by one main research question: · What are the effects of developmental appraisal policy on teacher learning as seen through the eyes of teachers working in different resource contexts? In tracing the effects of DAS Policy, I focused on policy breakdown by looking at the views of implementers, i.e., educators at the level of the school. The study also explains how teachers understand the policy, which helped to lay the empirical foundation for exploring teacher learning. The investigation draws on recent work on what is called “teacher learning” for the conceptual focus. The framework provided a descriptive function that helped to assign content to the new concept on “teacher learning” in education research. It also presented an empirical function and exploratory purpose that assisted in exploring the effects of DAS Policy on the teacher learning. In seeking responses to the main research question, I conducted qualitative cases of 12 teachers who have been involved in the various phases of DAS. Teachers were selected from different resource contexts and sampled on the basis of their different profiles. I used teacher testimonies composed qualitatively through multiple methods of data collection, viz. biographical data, free writing schedule, semi-structured interviews, critical incident reports and teacher diaries. From the data generated, the following are the main findings of the study: · Teachers find the developmental promises of DAS to be unpersuasive because of its identification with the previous inspection system, and because of teachers’ identification with more powerful sources of learning. · The failure of the policy to give recognition in practice to the diverse contexts within which teachers work had a negative effect on teacher learning. · Teacher learning is an extremely complex process, and to pin down its critical features is very difficult in a developing country context. · Teachers found it difficult to ascribe “learning” to their DAS experiences given the largely negative experiences of the policy implementation process. · Context contributed to the disjuncture between understanding and practice in terms of teacher development and in particular to teacher learning. Finally, given the importance of teacher professional development in the reform process there is need for further research on how to effectively promote teacher learning. In addition, in considering the implications that diverse work contexts have for teacher learning in developing countries, policymakers can aim at effective programmes that will strengthen teacher learning. Therefore, research needs to address the link between teacher learning and diverse work contexts in different ways. / Thesis (PhD (Education Management and Policy Studies)--University of Pretoria, 2006. / Education Management and Policy Studies / unrestricted

La valeur vénale et locative se définit en droit, en jurisprudence et en doctrine, mais elle se concrétise en économie…C’est toute l’ambiguïté et la différence entre une valeur et un prix.A l’inverse de l’agent immobilier qui se focalise sur le prix du bien qu’il envisage de vendre, l’expert se concentre sur l’objectivation juridique d’une valeur qu’il va déterminer en s’appuyant sur la comparaison des prix dont il va avoir connaissance.Depuis plus d’une dizaine d’années, j’ai essayé à travers mes différentes recherches, enseignements et publications d’éclaircir les problématiques juridiques, économiques, techniques et maintenant écologiques, liées à la valeur vénale ou locative.J’ai pu publier une cinquantaine de contributions sur des sujets transversaux.Mon projet de thèse sur travaux envisage d’effectuer la synthèse de ces travaux en approfondissant et en complétant certains sujets, en explorant les nouvelles problématiques environnementales et en examinant les possibilités de transposition dans notre droit interne des nouvelles directives européennes liés à l’évaluation immobilière. / Market and rental value is defined in law, in jurisprudence and in doctrine, but is put into concrete form in economics.There in lies the ambiguity of the difference between value and price.Unlike the estate-agent, who focuses on the price of the property he plans to sell, the real estate valuer concentrates on the juridical objectification of the value, which he will determine by comparing the prices which he has knowledge of. For over ten years I have been trying, through my various research projects, teaching and publications, to throw some light on the juridical, economic, technical and now environmental issues linked to market and rental value.I have published some fifty papers on cross-discipline subjects.In my thesis project I plan to synthesize this work, going more deeply into certain subjects and adding to them, exploring the new environmental issues and examining the possible ways in which the new European directives concerning real-estate appraisal could be transposed into our domestic law.

Adult second language acquisition takes time over an extended period of time during which the L2 motivation of learners goes through periods of ups and downs. Dörnyei, MacIntyre and Henry (2015) recognized the inherently dynamic nature of L2 motivation and called for adopting the Complex Dynamic System Theory (CDST) when studying this phenomenon. While using a CDST perspective, this mixed method study drew on Dörnyei’s (2009b) model of the Motivational Self System to examine the L2 motivation of 86 Saudi study-abroad students. Also, the construct of the Anti-ought to Self (Thompson, 2015) and aspects of the Appraisal Theory (Schumann, 2001) were adopted to guide this examination. The results of the study showed that the L2 motivation of the participants fell into four main motivational patterns. Also, some of the participants shifted into new attractor states over the course of their academic semester. Another important finding was that the Anti-ought to Self appeared as an important construct. The results of the standard multiple regressions showed that the amount of the variance in the Intended Learning Effort that was accounted for by the Anti-ought to Self alone exceeded the amount of the variance accounted for by the other explanatory variables put together. Also, the analysis of the quantitative and qualitative data showed that the use of the Appraisal Theory improved the construct validity of the Learning Experiences. The implications of these findings and future directions of the L2 motivational research were also discussed in the study.

The capital maintenance rules stem from the English company law and were primarily aimed at protecting the rights of a company’s creditors. Before the introduction of the Companies Amendment Act 37 of 1998, a company was prohibited from purchasing its own shares. After this legislation was passed, a company was able to do so, provided that it satisfied the solvency and liquidity test and also complied with the new statutory provisions set out by sections 85 to 89 of the Companies Act 61 of 1973. Section 48 of the Companies Act 71 of 2008 now regulates the acquisition by a company of its own shares, as well as the acquisition of shares in its holding company by a subsidiary company. The above actions also fall under the ambit of a “distribution” as defined in the Act and therefore need to satisfy the requirements of section 46 of the Act as well. Unlike its predecessor, the provisions in the new Act are very broad and devoid of guidelines. The emphasis is placed on companies satisfying the principles of solvency and liquidity. Non-adherence to these provisions gives rise to the personal liability of the company’s directors. The provisions of section 48 do not apply where a dissenting shareholder exercises his appraisal rights in terms of section 164 of the new Act, or where a company redeems redeemable securities. These exceptions do, however, still amount to “distributions” and will accordingly need to satisfy the requirements contained in section 46 of the Act. Redeemable securities were initially not exempted from the provisions of section 48. This would potentially have given rise to a situation where a company could approach a court in terms of section 48(6) to reverse a redemption of its securities. It would have had dire consequences for financing by way of redeemable securities. In terms of the Companies Amendment Act 3 of 2011 redeemable securities are now specifically exempted from the provisions of section 48. In terms of the new Act a subsidiary company is allowed to purchase shares in its holding company to a maximum of 10% in the aggregate of the issued shares of any share class, provided that no voting rights attached to such shares may be exercised. The new Act fails to properly address some of the issues regarding the “round-tripping” of dividends and the declaration of a dividend in specie that were already identified as far back as 2001. Where the consideration for a repurchase constitutes a “dividend” as defined in the Income Tax Act 58 of 1962, the company will be liable to pay secondary tax on companies in respect thereof. If a distribution does not constitute a dividend, capital gains tax is payable with regard to it. Share repurchases are allowed in terms of Canadian corporate law after the legislative reform which occurred in that country during the 1970’s. The Canadian Business Corporations Act contains provisions that bear a striking resemblance to the provisions of the new Act adopted in South Africa. Whilst the basis and rationale behind the new corporate legislation cannot be faulted, a host of issues and concerns still remain. The unfortunate consequence is that the new Act lacks transparency and is fraught with clumsy errors. Copyright / Dissertation (LLM)--University of Pretoria, 2012. / Mercantile Law / unrestricted