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Sectional title schemes and executive managing agents

Sectional title schemes and executive managing agents

The sectional title schemes management act 8 of 2011

Trustee issues in sectional title schemes or body corporate issued can be very time consuming, it can also be every costly. In this article, we will take a look at the possible remedy for the aforementioned issues.

Introduction
The Sectional Tiles Act 95 of 1986, as amended (“STA”), initially regulated all the aspects of sectional title schemes, however, as from 7 October 2016, the management part of the STA has been repealed and replaced by the Sectional Title Schemes Management Act, 8 of 2011 (“STSMA”).

In terms of section 28 of the STSMA, provision is now made for the appointment by special resolution (or by application to the Community Scheme Ombud Service by members of the sectional title scheme who are entitled to 25% of the total participation quotas of all sections in the scheme) of trustees of the body corporate of a scheme, of an executive managing agent to perform functions that would usually have been performed by the trustees themselves.

Reasoning behind the appointment of an executive managing agent
It is probable that the legislature decided on the creation of section 28 to make provision for instances where the trustees of a body corporate do not get along and cannot function in a cohesive manner or make informed decisions regarding the management of the scheme.

An executive managing agent is appointed by way of a management agreement between the trustees of the body corporate and the managing agent. The executive management agent is appointed to perform the functions and to exercise the powers usually performed by the trustees.

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Amending your antenuptial contract after its registration

Amending Your Antenuptial Contract After Its Registration

Introduction
Your antenuptial contract is one of the most important boxes to tick off of your proverbial wedding to do list before you say “I do”. If you do not enter into an antenuptial contract before date of marriage, you will automatically be married in community of property in terms of South African law. What this means, is that you and your spouse will each jointly own all assets and liabilities accrued by either party before the marriage and during the marriage in equal shares.

More and more couples are realising that a marriage in community of property holds little benefits while the financial risk and exposure is tremendously high. On the other hand, the main goal of an antenuptial contract is to ensure that there is complete transparency in your relationship by recording the rights, duties and consequences of the marriage and because each party’s assets and liabilities are their own, you are entirely financially protected. An antenuptial contract not only dictates your financial future after marriage but also how you transact with third parties.

It is thus very important to ensure that your antenuptial contract encapsulates your specific needs. Another reason for ensuring that you are wholly satisfied with your antenuptial contract and the marital property regime selected, is the difficulties you will face should you wish to amend your contract after date of registration or if you wish to change your marital property regime entirely.

Amendments to your antenuptial contract after registration
As soon as the antenuptial contract has been registered in the Deeds Office and confirmed by your marriage, it cannot be altered inter partes (between the parties) informally. The only way to amend the contract is by way of both parties to the contract bringing an application in the High Court in terms of section 21 of the Matrimonial Property Act No 88 of 1984.

The Court will look at the validity of the parties’ reasons for the request for an amendment and based thereon, grant an order for the rectification or amendment of the contract to reflect the true intentions of the parties. However, all other parties concerned must consent to the rectification, and the rights of creditors and third parties are protected first and foremost.

As the parties’ creditors might be prejudiced by this change in the contract, an advert needs to be placed in the local newspaper to inform all concerned parties of the intended amendments. They will have the opportunity to oppose the application with reasons should the change affect them in a negative way.

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Turn your sense of lack into a recognition of all the abundance around you

Abundance by Robyn

This week's coaching session was the clincher for me. We are always told that we live in an abundant universe - and somehow that was all good and dandy for me - but it never really felt like a bloody abundant universe to me.

The universe in fact felt harsh, unkind, unfriendly and greedy. The student was ready - and the teacher arrived. Anel Heymans - a LifeMastery Consultant and Coach arrived - and a good couple of weeks later and this student is learning and experiencing shifts like she would never have believed possible! So in fact - if you believe that the world is harsh, unkind, unfriendly and greedy - it is in fact going to be just that for you and all you experience. Because it's what you expect and what you only see...and ultimately manifest into your life. The question I had to ask myself was - Are you a glass half full kinda gal or a glass half empty kinda victim.

Well in truth - I've never really been a glass half empty kinda gal! I've always been the positive one, the one who champions the underdog because they can't do it for themselves - because no-one has empowered them... somewhere in-between 'I can and will' I resorted to 'I can't and won't.' This new language and visioning resulted in some pretty interesting times and lessons that were designed to be learnt and moved through quickly became painful and protracted. I then started slipping into 'victim-hood' and we all know that 'hood' is pretty lonely - the only other folk visiting that part of town are the folk who are attending the same pity party as I was!

It meant 'bad company' for all - because there no-one helps anyone - you all just pull each other down further. It's like a sad love song on replay 24/7! Ugly crying, groaning, moaning and frustrated screeching are the top conversations being engaged in. Phew people! If I visualise that today - it sounds like our own personal hell! No thank you - not for me anymore! Turn the clock forward to after the start of my coaching sessions with Anel - and I can honestly say that I've moved suburbs - I now live in Uptown Funk - I see possibility, I see abundance - all around us in fact - even in the poorest areas - and I've been exposed to many in my line of work.

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An un-boxed life: Why we should all be platypuses in a world full of ducks

An un-boxed life

Melanie Britz 1983There I was on my first day of school, excited, scared, bravely clutching my suitcase in which Mom had packed some sandwiches and a juice box. Two pigtails, school dress hanging to my scraped knees, black polished shoes scuffed already.

Mrs. Buys, our grade one teacher, was also ready for the day. She’d seen thousands of bright little faces come and go over the years and she always welcomed them with kindness. I think she had one main aim for the day. When her new charges go home after that memorable first day and their parents ask the dreaded, all important question - the question being: “What did you learn today”- they had to have a good answer, an answer that illustrated learning.

In order to reach this goal, she explained to us in simple terms the difference between mammals, reptiles and birds. This, she probably thought to herself, was sure to be a lunch time hit with the parents.animal boxes

She described the differences between the categories, placing each category of animal neatly into its own box, metaphorically speaking. Reptiles are cold blooded, and can live on land or water.

Reptiles lay eggs and do not suckle their young. Oh and some of them are venomous. If an animal venomous, it’s sure to be a reptile.

Birds can often fly, but not always, she explained. They also lay eggs, but they have beaks and they have wings.

Mammals are warm blooded, and they can live on land or water, like whales. They give birth to live young. They never lay eggs and they always suckle their young. If an animal lays an egg it is sure to be a bird or a reptile.  

And that’s when I put up my hand and respectfully told her that she’s wrong, because of the duckbilled platypus – one of the weirdest animals in the world. I’d read about it in a little picture book about Animals of the world, see, and I believe today that this is an animal which we all could take more note of.

When the Duckbilled platypus was first discovered, some academics actually thought that it was impossibility. They were sure that someone had taken various parts of different animals and stitched them all together as a hoax – something that was apparently prevalent at the time – sort of the Victorian version of Punk’ed.

This animal has a bill like a duck, a tail like a beaver and it lays eggs.

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“Interest” - The Supreme Court Of Appeal’s Interpretation

Interest  The Supreme Court Of Appeals Interpretation

Introduction
The Prescribed Rate of Interest Act 55 of 1975 (“the Act”) sets the maximum rate of interest that can be charged on mora interest (over-due payment) and is also used in court orders relating to damages claims. The purpose of the Act is “to provide for the calculation of interest on a debt in certain circumstances, at a prescribed rate; for the payment of interest on certain judgment debts; and for matter connected therewith”.1

The Act provides for a procedure to be followed for the calculation of interest in circumstances where no interest rate is prescribed in any legislation. Section 1 of the Act provides as follows:
(1) If a debt bears interest and the rate at which the interest is to be calculated is not governed by any other law or by an agreement or a trade custom or in any other manner, such interest shall be calculated at the rate prescribed under subsection (2) as at the time when such interest begins to run, unless a court of law, on the ground of special circumstances relating to that debt, orders otherwise.
(2) The Minister of Justice may from time to time prescribe a rate of for the purposes of subsection (1) by notice in the Gazette2. Generally, unless specifically dictated by legislation, legal proceedings for debt review are initiated by the delivery of a written letter of demand. This letter, alludes to an interest rate, as governed by the Act, which the debtor will be bound by.

Though an interest rate is prescribed by the Act, there are instances during court proceedings where the calculation thereof should be confirmed; usually in instances where there is ambiguity.

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