It is in the area of the regulation of a company's share capital and distributions to shareholders that the inherent conflict between creditors and shareholders, and the fragile balance among shareholders internally, intersect. The share capital of a company underlies its corporate structure and represents not only its initial own funds from which creditors can be paid, but also the relative equity interests of the shareholders. The balance between shareholders can be disturbed by capital reorganisations through increase, reduction or variation of share capital or through disproportionate contributions by, or distributions to, shareholders. Share repurchases are particularly risky in this regard. Creditor interests are affected when their prior right to payment is endangered by distributions to shareholders. This study analyses the South African Law relating to share capital and distributions against the background of a comparative study of the laws of England, New Zealand, Delaware and California, as well as the provisions of the American Model Business Corporations Act. Two main approaches to creditor protection are evident. The capital maintenance doctrine, which is followed in England and Delaware, protects creditors by emphasising the notional share capital of the company as a limit on distributions. In contrast, the solvency and liquidity approach focuses on the net assets of the company and on its ability to pay its debts. New Zealand, California and the Model Business Corporations Act represent this approach. Regulatory responses to shareholder protection range from insistence on compliance with procedural requirements to minimal statutory intervention in the internal affairs of companies, instead relying on general principles of fairness and good faith. There is little correlation between a particular system's approach to creditor protection on the one hand, and to shareholder protection on the other. England, New Zealand and South Africa prescribe specific formalities, while the American approach is more relaxed. South Africa is a hybrid system. Its transition from capital maintenance to solvency and liquidity has been incomplete and its protection of equity interests is relatively unsophisticated. A number of recommendations are made for an effective and coherent approach that will safeguard the interests of creditors and shareholders alike. / School: Law / LL.D.

Thesis (Ph.D. (Curriculum Studies)) --University of Limpopo, 2013 / After the establishment of the first democratic government in South Africa in 1994, the Education Ministry started transforming the apartheid education system into the democratic education system aimed at achieving equity, redress and access to education. Amongst the policies developed, were South African Schools Act (Act No. 84 of 1996), National Norms and Standards for School Funding, Exemption of Parents from Payment of School Fees Regulations, Education Laws Amendment Act (Act No. 24 of 2005), Amended National Norms and Standards For School Funding, and No- Fee School Policy. In this study, I analysed how schools in Bolobedu cluster circuits of Mopani District implemented the No-Fee School policy regarding the use and management of school finances. Qualitative case study was used. Four schools, two primary and two secondary schools, were sampled. Three methods of data collection were used: interviews, document analysis (school records such as SGB minutes, finance policy, School Business Plan/School Development Plan, budgets, auditors’ reports, etc.) and observation. Interviews were conducted with school principals, teachers, parents and learners. The research findings indicate that the three SGBs have the capacity to practise good financial management in relation to the No-Fee school policy, although they still need to improve on some areas of responsibility. These SGBs demonstrated sound and good practice in the use and management of school finances. However, one SGB was struggling to practice good financial management responsibility. This school has the potential to improve its capacity to execute its financial responsibility if provided with support. Key words: South African Schools Act (SASA), National Norms and Standards for School Funding (NNSSF), Amended National Norms and Standards For School Funding (ANNSSF), No-Fee School Policy, Equity, Access and Redress, Use and management of school finances.

Doctorat en philosophie et lettres / info:eu-repo/semantics/nonPublished

The research centres on the degree to which the no-fee-paying policy is influencing the financial management of schools in Soshanguve. The no-fee-paying policy stems from the Education Laws Amendment Act 24 of 2005 according to which the levying of mandatory fees was abolished at public schools that are declared no-fee-paying institutions. The state funded these newly declared no-fee-paying schools in order to create greater access to quality education and to improve the educational resources and equipment in impoverished schools. According to the findings of this research, there is little or no financial management in the former underprivileged schools in Soshanguve. This lack of proper financial management in these schools appears to be due to the lack of capacity within both the schools and the school governing bodies themselves. In addition, there appears to be a lack of equality and equity between the formerly underprivileged schools and the advantaged schools. In the words of Fiske and Ladd (2004b:248), equality and equity seem to be elusive. Schools in the cities are still advantaged since the parents are paying fees and schools are managing their funds, while parents in the township schools (especially in Soshanguve) have been found to be unsupportive financially. This is probably because communities around the schools are, in the main, poverty stricken. / Public Administration and Management / D. Litt. et Phil. (Public Administration)

The research centres on the degree to which the no-fee-paying policy is influencing the financial management of schools in Soshanguve. The no-fee-paying policy stems from the Education Laws Amendment Act 24 of 2005 according to which the levying of mandatory fees was abolished at public schools that are declared no-fee-paying institutions. The state funded these newly declared no-fee-paying schools in order to create greater access to quality education and to improve the educational resources and equipment in impoverished schools. According to the findings of this research, there is little or no financial management in the former underprivileged schools in Soshanguve. This lack of proper financial management in these schools appears to be due to the lack of capacity within both the schools and the school governing bodies themselves. In addition, there appears to be a lack of equality and equity between the formerly underprivileged schools and the advantaged schools. In the words of Fiske and Ladd (2004b:248), equality and equity seem to be elusive. Schools in the cities are still advantaged since the parents are paying fees and schools are managing their funds, while parents in the township schools (especially in Soshanguve) have been found to be unsupportive financially. This is probably because communities around the schools are, in the main, poverty stricken. / Public Administration / D. Litt. et. Phil. (Public Administration)