A critical assessment of the regulation of cryptocurrency in Nigeria

by | Apr 19, 2025 | SAMLJ, SAMLJ V36 I3

A critical assessment of the regulation of cryptocurrency in Nigeria

Author: Isau Ahmed Olatunji

ISSN: 1996-2185
Affiliations: Senior Lecturer, Department of Business and Private Law, Faculty of Law, Kwara State University
Source: South African Mercantile Law Journal, Volume 36 Issue 3, 2024, p. 457 – 481
https://doi.org/10.47348/SAMLJ/v36/i3a6

 Abstract

Over the years, there has been a tremendous increase in the use of cryptocurrency as a virtual means and form of payment worldwide. However, in recent years, there has been a steady increase in the use of cryptocurrency for illicit and criminal activities such as money laundering, financing terrorism and other illegal activities. In addition, the virtual nature of cryptocurrency creates opportunities for tax evasion thereby constituting a serious tax challenge for countries. This makes it necessary for countries to put in place measures to regulate cryptocurrency to prevent its use for illicit and criminal activities. Various countries have established certain measures and legislations to regulate the use of cryptocurrency. The objective of this article is to examine nature of cryptocurrency as well as its regulation in some selected jurisdictions. The paper will also examine how cryptocurrency is currently regulated in Nigeria.

The role, relevance and effect of the strike in the 4IR Age of Auto and Robots: A South African Perspective

by | Apr 19, 2025 | SAMLJ, SAMLJ V36 I3

The role, relevance and effect of the strike in the 4IR Age of Auto and Robots: A South African Perspective

Authors: Nozipho Gwala & Lux Kwena Kubjana

ISSN: 1996-2185
Affiliations: LLB student, University of South Africa; Senior Lecturer, Department of Mercantile Law, University of South Africa
Source: South African Mercantile Law Journal, Volume 36 Issue 3, 2024, p. 482 – 494
https://doi.org/10.47348/SAMLJ/v36/i3a7

 Abstract

A strike has always been an integral part of effective collective bargaining, and the only weapon in the hands of employees against an employer. Not only is a strike believed to be to collective bargaining what an engine is to a vehicle, but it is also something without which, collective bargaining would become collective begging. These observations highlight a premium put on a strike and clarify its critical role and relevance in the realisation of effective collective bargaining. This article explores the role, relevance, and effect of the strike in the Fourth Industrial Revolution (‘4IR’) context. The article understands the link between labour intensity, as the employees’ potential source of strength, and effective collective bargaining. And then, it poses the question: Is this the beginning of the end of the strike, or an opportunity for the reinvention of collective bargaining? While the article appreciates innovation and the changing employment landscape brought about by the 4IR, it questions how these changes would affect the role, relevance, and effect of the strike when full automation is rolled out. The purpose of the article is to explore alternatives to fill the vacuum likely to be left by the erosion of the strike, owing to automation.

Putting the unconstitutionality of deemed discharge behind us? A review of recent developments on deemed dismissals

by | Apr 19, 2025 | SAMLJ, SAMLJ V36 I3

Putting the unconstitutionality of deemed discharge behind us? A review of recent developments on deemed dismissals

Author: Vuyo Ntsangane Peach

ISSN: 1996-2185
Affiliations: Associate Professor, University of South Africa
Source: South African Mercantile Law Journal, Volume 36 Issue 3, 2024, p. 495 – 515
https://doi.org/10.47348/SAMLJ/v36/i3a8

 Abstract

Deemed dismissal or discharge, alternatively called termination of employment by operation of law (ex lege) is one of the most disputable issues in constitutional labour law. A termination of employment by operation of law arises when an employee absents himself or herself from his or her official duty for a period exceeding 30 days. Significantly, procedural safeguards against unfair dismissal are attenuated because the affected employee is given a semblance of a hearing. Moreover, the employee is asked to show cause why he or she should not be discharged. Since the authorities are clear that where dismissal is precipitated by the operation of law and there is no right to a hearing, deemed discharge unarguably represents far-reaching encroachment on the constitutional guarantee to fair labour practices and the statutory right not to be unfairly treated. An employee who is deemed dismissed has a restricted access to the purpose-built labour dispute resolution forums established by the Labour Relations Act 66 of 1995. Although the uncertainties concerning the unconstitutionality of the deeming dismissal provisions were cast aside in Phethini v Minister of Education (2006) 27 ILJ 477 (SCA), the jurisdictional complexities displayed in recent cases such as Western Cape v Weder and MEC for Dept of Health [2014] 4 BLLR 393 (LC), Ramonetha v Department of Roads and Transport, Limpopo [2018] 1 BLLR 16 (LAC), Minister of Defence and Military Veterans v Mamasedi 2018 (2) SA 305 (SCA), Maswanganyi v Minister of Defence and Military Veterans (2020) 41 ILJ 1287 (CC) and Masinga v Chief of the SANDF [2022] ZASCA 1 (5 January 2022) compel a rethink of the constitutionality of the deemed discharge provisions.

A comparative critical analysis of the effectiveness of Remuneration Committees in the determination of executive remuneration in South Africa

by | Apr 19, 2025 | SAMLJ, SAMLJ V36 I3

A comparative critical analysis of the effectiveness of Remuneration Committees in the determination of executive remuneration in South Africa

Authors: Ophellia Kimbini, Rehana Cassim & Michele Havenga

ISSN: 1996-2185
Affiliations: LLD candidate, Department of Mercantile Law, University of South Africa; Professor, Department of Mercantile Law, University of South Africa; Professor Emeritus, University of South Africa
Source: South African Mercantile Law Journal, Volume 36 Issue 3, 2024, p. 516 – 543
https://doi.org/10.47348/SAMLJ/v36/i3a9

 Abstract

Over the years, executive remuneration has been significantly increasing, and several jurisdictions have established specific corporate governance measures to manage this remuneration. Establishing effective remuneration committees is one of the measures that could be used to curtail the spiralling of executive remuneration. This article examines the role of remuneration committees, their effectiveness in setting executive remuneration, and how they are regulated in South Africa. The article aims to determine whether and how to enhance the use of these committees by South African companies. It examines how these committees are regulated by the Companies Act 71 of 2008, the JSE Limited Listings Requirements, and the King IVTM Report on Governance for South Africa, 2016. It also compares how the United Kingdom, Australia, and the United States of America regulate the use of remuneration committees in their corporate governance regimes.

Franchise termination with particular reference to the petroleum sector: Goodbye and good luck, but who owns the goodwill?

by | Apr 19, 2025 | SAMLJ, SAMLJ V36 I3

Franchise termination with particular reference to the petroleum sector: Goodbye and good luck, but who owns the goodwill?

Author: Tanya Woker

ISSN: 1996-2185
Affiliations: Professor of Law (Retired), and Senior Research Associate, University of KwaZulu-Natal (Durban)
Source: South African Mercantile Law Journal, Volume 36 Issue 3, 2024, p. 544 – 571
https://doi.org/10.47348/SAMLJ/v36/i3a10

 Abstract

This article focuses on the controversial issue of franchise agreement termination with particular reference to the petroleum sector. Although franchisees are said to ‘own’ their own businesses, it is never intended that they will have access to the franchisor’s trademarks and other intellectual property on a permanent basis. The franchise relationship will eventually terminate. The question then arises: who owns the goodwill of the particular franchise outlet operated by the franchisee – franchisee or franchisor? The issue of goodwill has arisen in a number of petroleum sector related cases recently, including the Constitutional Court, and although the courts have referred to goodwill, the question has not been definitively addressed. This article seeks to show why the issue of goodwill is a complicated issue in the context of franchise termination, how goodwill is traditionally dealt with in franchise agreements and to make some suggestions going forward. This topic is complex especially since it is not always easy to distinguish national or international goodwill from local goodwill. The two are deeply entwined. So, there is a need for further and more detailed research. This article is intended to start the debate.