The deposits attracted the attention of the liquidators, who contended that the deposits were dispositions and sought to have them set aside in terms of s 26(1)(b) the Insolvency Act 24 of 1936. Brandstock was later provisionally and then finally wound up. Three deposits were made from the account of Brandstock Exchange (Pty) Ltd to the trust accounts of attorneys. The operation of the order is suspended for a period of 12 months to enable the respondent to remedy the defect.
#ZACC CONFERENCE FULL#
The order of the full court is confirmed.
The exclusion from disclosure of donations for internal party elections undermines the Ethics Act and the conflict of interest regime that is essential to promote transparency and to deal with the pervasive corruption bedevilling us.
#ZACC CONFERENCE CODE#
The Code falls short of constitutional and statutory dictates of transparency, accountability and openness. The court discusses which financial interests must be disclosed the wide wording in section 2(2)(c) and the meaning of “all their financial interests when assuming office” and “any financial interests acquired after their assumption of office”. MAJIEDT J discusses section 2(2)(c) of the Executive Members’ Ethics Act 82 of 1998 amaBhungane’s contentions that: the Act requires that the Code must ensure that members of the executive do not place themselves in positions that may compromise their ability to discharge their duties without any undue influence, including accepting undisclosed financial contributions that political parties, the media and the public need to know which persons or entities are providing private financial support or benefits to those who hold public office that transparency is essential in order to guard against potential corruption and conflicts of interest. This application is for confirmation of the full court’s declaration that the Code was unconstitutional and unlawful to the extent that it did not require the disclosure of donations made to campaigns for positions within political parties.
amaBhungane applied to intervene and in the end a full court was constituted to hear amaBhungane’s challenge to the constitutional validity of the Code. The President had applied to the High Court for relief against the Public Protector after her report against him regarding the Executive Ethics Code and his relationship with BOSASA.
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