LL.D. (Private Law) / Please refer to full text to view abstract

LL.M. / Please refer to full text to view abstract

Due to length and time constraints, this dissertation will briefly examine and provide an overview of the current method that courts have adopted in bringing a class action in Southern Africa and internationally. Specific focus will be on the Unites States of America, Australia and the Canadian province of Ontario. Challenges of bringing a class action will also be discussed, with a view of ascertaining the most appropriate or well-suited method of bringing a class action under the Consumer Protection Act 68 of 2008. The main issue that will be analysed will be the certification process. The key question to be answered is which approach or procedure, in dealing with the certification requirements under various jurisdictions, should South Africa adopt or incorporate into, class action procedure legislation? In chapter one I will introduce the concept of a class action as it is a relatively new concept found in South African consumer legislation. Different definitions of a class action will be discussed in context of particular statutes. I will define and highlight the purposes of a class action in South Africa and show why there is firstly, a need for such a procedure and secondly why there is a need for such procedure to be codified into legislation. In chapter two I will discuss certain important aspects of class actions. The purpose of this is to identify the main features of a class action. Ultimately, the purpose will be to discuss whether or not these features should be included in South African class actions. Chapter three will commence with the comparative perspective portion of this paper. The legislation adopted by the United States, will be discussed in chapter three followed by a discussion of the Ontario legislation in chapter four and the Australian legislation in chapter 5. The approaches that these jurisdictions have taken in respect of a class action procedure serve as a basis upon which a class action procedure for South Africa will be recommended. Chapter six will provide conclusions that have been drawn through analysis of the foreign jurisdictions’ class action procedures which will reflect the best and worst elements of a class action procedure. This is significant in determining what type of class action procedure would be best suited to South Africa. Chapter seven will highlight the current South African approach to class actions through an examination of case law and a Report by the South African Law Commission. This chapter will also analyse the short-comings in the South African approach through a critique of case law. In chapter eight of this paper I will propose an approach that South Africa should adopt with regard to a class action procedure that is best suited to South Africa’s social climate. Finally, I will conclude with a summation of the arguments presented in this paper in chapter nine. / Thesis (LL.M)-University of KwaZulu-Natal, Durban, 2013.

Banks play a pivotal role in economic growth and development of all countries and therefore the stability of the banking system is a vital goal of bank supervisors. Banks act as delegated monitors of depositors’ funds and this relationship, like all principal-agent relationships, presents agency problems. In the case of banks agency problems arise because depositors cannot accurately assess the financial health of banks due to the asymmetry of information existing between banks and depositors. Because banks possess private information on their borrowers, which depositors cannot access, it exposes depositors to risk of loss of deposits in cases of bank failures originating from nonrepayment of such loans. This asymmetry of information also exposes banks to runs by depositors and these runs can lead to bank failures with devastating effects for the financial system and the economy at large. It is for this reason that banks are regulated and supervised more than other institutions. Bank failures are a worldwide phenomenon and South Africa is no exception as evidenced by historical and recent bank failures in South Africa. This thesis investigates the desirability of introducing an explicit deposit insurance scheme in South Africa as a means of protecting small, unsophisticated depositors who are almost always the losers when banks fail, and promoting financial stability. The study finds that bank failures in South Africa are mainly attributable to mismanagement of banks, liquidity problems and fraud. Bank failures as a result of the aforementioned reasons have led to depositors losing their deposits in South Africa. The absence of a clearly defined depositor protection scheme in South Africa, the inadequacy of the hitherto implicit guarantee system to protect depositors, and the poor record of the South African Reserve Bank in bank failure resolution, form the basis of the conclusion of the study, i.e., there is a case for the introduction of deposit insurance in South Africa. In order to assist South African policymakers in designing an effective deposit insurance scheme for the country, the thesis further provides a guide on how the most important design features of deposit insurance should be handled. This is in an attempt to ensure that the moral hazard problem inherent in deposit insurance is overcome.

MPM / Oliver Tambo Institute of Governance and Policy Studies

This research established the determinants of the investment choices between the RSA Government Retail Bonds and the stokvel by salaried individuals. The research carried out a comparative analysis between the two investment instruments. The main data was drawn from FinMark for the period 2011 to 2015. The research used a combination of data tables and graphs to analyse frequency (distribution) of use in each of the investment choices. The research used Pearson’s Chi square and Fishers’ t-test to determine the distribution, independence and Cramer’s V coefficient was applied to establish the correlation between the investment choices and the demographic under review. The outcome of the research indicated that more than risk or return inherent in the investment instruments under review, social, psychological and cultural disposition towards these investment instruments played a significant part in influencing the investment choices under review. Furthermore, lower educated individuals at low salary levels had the highest usage in stokvel and the highly educated at the higher level of education opted to invest in the RSA Government Retail Bonds. There was a very low usage in both the investment instruments by the ‘no formal education’ and primary education levels. Pearson’s Chi square and Fishers’ exact tests indicated that, race, education, location and salary levels can be used to explain the differences in investment choices between the RSA Government Retail Bonds and stokvel. According to these tests, age was statistically insignificant to explain the effects of the demographics under review on making investment choices. The results indicate that racial, educational, salary and location differences need to be properly factored into the policy development in so far as investment and savings are concerned. / Finance, Risk Management and Banking / M. Com. (Business Management)

The use of credit cards has become a way of life in many parts of the world. Credit cards have also created many new opportunities for criminal activity. It is in this light that organizations such as VISA International have explored a variety of security alternatives by constantly reviewing security measures that may be applied to cards and devote considerable resources to the maintenance of security systems and programmes. These programmes mandated by the association, include uniform card standards, security standards for manufactures, embossing and encoding of cards, standards for mailing the cards and credit background investigations of applicants. These standards assist investigators in examining counterfeit cards and distinguish a counterfeit card from a genuine card. The constant reviewing of security features and methods by the association is to create a card that is technically difficult to alter or counterfeit. / Criminology / M.Tech. (Forensic Investigation)

The use of credit cards has become a way of life in many parts of the world. Credit cards have also created many new opportunities for criminal activity. It is in this light that organizations such as VISA International have explored a variety of security alternatives by constantly reviewing security measures that may be applied to cards and devote considerable resources to the maintenance of security systems and programmes. These programmes mandated by the association, include uniform card standards, security standards for manufactures, embossing and encoding of cards, standards for mailing the cards and credit background investigations of applicants. These standards assist investigators in examining counterfeit cards and distinguish a counterfeit card from a genuine card. The constant reviewing of security features and methods by the association is to create a card that is technically difficult to alter or counterfeit. / Criminology and Security Science / M.Tech. (Forensic Investigation)